Clover Case Study
High-Touch Collaboration Skyrockets Lead Generation for Clover: How Clover partnered with Closed Loop to create a 735% increase in leads and 55% decrease in CPL with a full-funnel paid media strategy to capture massive opportunity.
Case Study
Leading Credit Score Monitoring Company
Optimizing Based on Customer Journey
0
X
increase in ROAS
0
%
decrease in cost/order
0
%
increase in orders
Background
In October 2018, the client came to us with a goal of growing orders from their mobile app. They had been successful in driving installs of the app but orders and revenue, the metrics that truly mattered, were dismal. In fact, they were losing money on every campaign click.
GOALS
We recognized that there was a fundamental mismatch between the optimization goal and what the client really wanted. The client was optimizing for installs, expecting orders and revenue to follow. Performing a regression analysis showed that installs were not strongly correlated to orders. As a result, order volume wasn’t strong enough to make effective use of Smart Bidding technology. To move the needle on orders, we needed to change the goal and find a metric that provided enough volume but was also strongly correlated with orders.
STRATEGY
We reviewed each step in the customers journey to identify a conversion point that would be more closely correlated with orders but provide a high level of data volume for machine learning to perform its best.
Once we identified that KPI (account signups), we worked with the client to push that data back into Google as an in-App event. When the new signup conversion metric reached enough volume we gradually changed the campaigns over to a tCPA objective based upon cost per signup. Each step was monitored to determine the impact on installs and orders. Then incrementally, tCPA bids were reduced 20% incrementally until the clients cost/order goal was achieved.
RESULTS
4x
pipeline
value on investment
64%
decrease in cost/order
267%
increase in orders
In just 6 months time, the client’s goals were exceeded with every KPI (signups, installs, orders, revenue and profitability) increasing. The client has now given approval for unlimited budget allowing us to fully maximize the power of these campaigns.
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