www.Tru-Signal.com DISCOVER YOUR IDEAL AUDIENCE CASE S TUDY Problem Statement A large for-profit college captures hundreds of thousands of unconverted lead inquiries each month. Most of these inquiries do not become students. Can we use Facebook campaigns and 1 : 1 tar- geting techniques to reactivate those aged student inquiries and produce new enrollments? Can we get additional lift from Facebook advertising over and above current remarketing techniques? Key Considerations With the goal of driving incremental enrollments over and above the college’s current campaigns, improving the custom audience match rate with Facebook and optimizing the campaign creative would be key. Here are the five key considerations we took into account as we planned out the school’s campaign: 1. Measure Incremental Impact: Some aged inquiries will convert “on their own” without being influenced by the campaign. How do we measure the true incrementality of the Facebook campaign? 2. Cross-Channel Conversions: How do we account for users who are exposed to the campaign and then convert through other channels?3. Age of Inquiries: When is it too soon to begin a remarketing campaign? Is there a sweet spot for remarketing when it comes to length of time since last inquiry? 4. List Management: To be eective with Facebook, we need the audience match rate to be as high as possible. How can we maximize the list asset for improved match rates? 5. Creative Burnout: Facebook campaigns can grow stale quickly. How do we deal with creative burnout? Using Facebook to Profitably Reactivate Aged Lead Inquiries TruSignal increases audience match rate by 24% and implements closed-loop reporting to show a 38% boost in new customer activity The Challenge Cost-eectively turn unconverted, aged lead inquiries into new customers The Solution A targeted remarketing campaign via Facebook The Results FACEBOOK MATCH RATE: Increased by 24% NEW CUSTOMER ACTIVITY: Boosted by 38% COST PER NEW CUSTOMER: Reduced by 75%
Transcript
www.Tru-Signal.comDISCOVER YOUR IDEAL AUDIENCE
CASE STUDY
Problem StatementA large for-profit college captures hundreds of thousands of unconverted lead inquiries each month. Most of these inquiries do not become students. Can we use Facebook campaigns and 1 :1 tar-geting techniques to reactivate those aged student inquiries and produce new enrollments? Can we get additional lift from Facebook advertising over and above current remarketing techniques?
Key ConsiderationsWith the goal of driving incremental enrollments over and above the college’s current campaigns, improving the custom audience match rate with Facebook and optimizing the campaign creative would be key. Here are the five key considerations we took into account as we planned out the school’s campaign:
1.!Measure Incremental Impact: Some aged inquiries will convert “on their own” without being influenced by the campaign. How do we measure the true incrementality of the Facebook campaign?
2.!Cross-Channel Conversions: How do we account for users who are exposed to the campaign and then convert through other channels?
3.!Age of Inquiries: When is it too soon to begin a remarketing campaign? Is there a sweet spot for remarketing when it comes to length of time since last inquiry?
4.!List Management: To be e"ective with Facebook, we need the audience match rate to be as high as possible. How can we maximize the list asset for improved match rates?
5.!Creative Burnout: Facebook campaigns can grow stale quickly. How do we deal with creative burnout?
Using Facebook to Profitably Reactivate Aged Lead InquiriesTruSignal increases audience match rate by 24% and implements closed-loop reporting to show a 38% boost in new customer activity
The ChallengeCost-e"ectively turn unconverted, aged lead inquiries into new customers
The SolutionA targeted remarketing campaign via Facebook
MethodologyUsing Facebook’s Custom Audience capability, TruSignal launched a 1 :1 targeted campaign to re-activate aged inquiries.
Audience CreationTo start, the college provided TruSignal a file of unconverted inquiries that were 1–24 months old. TruSignal then pre pared the file by appending missing emails, adding secondary contact emails, encrypting the data, and uploading the final file to a Facebook ad account.
A/B Split TestingAll users from the remarketing list were randomly assigned to either the test group or the control group. Using an A/B split testing methodology, the test group was exposed to the Facebook campaigns, whereas the control group was ex-cluded from the Facebook campaigns. In all other respects, the test and control groups were treated identically. This experimental design allowed us to isolate and quantify the impact of the Facebook campaign. Any measurable di"erence in new leads
Send us a file of unconverted leads and prospects via a secure FTP upload
We encrypt the final list and upload to your Facebook ad account
Your prospecting list is now available for targeting as a Facebook custom audience
We append missing email addresses, correct miskeys and add secondary emails with our database of 600 million U.S. emails
1Jonathan R. Smith 145298722444212 12-13-1999 0312
Jack McGinnis 345544414529834 2-23-1967 9321
Peter R. Frederickson 225187224009455 12-13-1998 7621
James P. Thomas 345534646556567 2-23-1967 4321
Maria C. Sanchez 145209009345389 12-13-1999 2312
Jack McGinnis 3455872242264 2-23-1967 7685
Peter R. Frederick 2251145298009 12-13-1998 7621
James P. Thomas 3455298298 2-23-1967 4321
Joseph R. Noel 1452345565 12-13-1999 312
Susan M. Grant 345509009 2-23-1967 4321
Jack McGinnis 234553455 2-23-1967 4321
Peter R. Fredson, 2251345565 12-13-1998 7621
James P. Thomas 345509009 2-23-1967 4321
Joseph R. Noel 1452145298 12-13-1999 312
Susan M. Grant 345587224 2-23-1967 4321
Jonathan R. Smith 1452345565 12-13-1999 312
Jack McGinnis 345509009 2-23-1967 4321
Peter R. Frederick 2251345565 12-13-1998 7621
James P. Thomas 345587224 2-23-1967 4321
Maria C. Sanchez 1452298298 12-13-1999 312
Jack McGinnis 3455145298 2-23-1967 4321
Peter R. Frederickson 225109009873233 12-13-1998 7621
and enrollments between the test and control groups can be directly attributable to the Facebook campaign. In other words, we can measure the incremental impact of the campaign.
Closed-Loop TrackingThe campaign was set up to track results in two ways: through an online conversion pixel and an o#ine email match. By comparing the email addresses of all new lead inquiries generated in a month with the original control and test groups, we could measure exactly how many new leads were generated from each group (see table below). The email matching approach helped us overcome many limitations with online conversion pixels and allowed for a complete view of the campaign impact. We were able to measure users who were exposed to the Facebook campaign and later converted through ALL channels, including phone, TV, direct mail, search, and mobile.
Creative OptimizationIn collaboration with the school, TruSignal created a series of ad units across desktop news feeds, mobile news feeds, and right hand marketplace ads. All ad units were targeted 1 :1 against the aged inquiry audience and optimized for performance. The campaign tested more than 200 di"erent ad
permutations and honed in the winning formulas that produced the most attractive lift metrics. By rotating di"erent creative sets, TruSignal was able to avoid creative “burn out” that is symptomatic of typical Facebook campaigns.
AnalysisA post-campaign analysis of the test and control group responses and enrollments revealed several positive proof points for including Facebook advertising within the college’s multi-channel marketing mix.
Incremental ImpactThe marked di"erences between the new leads and enrollments from the test and control groups proved that the Facebook campaign was e"ective at generating incremental enrollments. Aged leads from the test group were 38 percent more likely to enroll than those in the control group. Moreover, these incremental enrollments were very cost e"ective$—$reducing the school’s enrollment costs by 75 percent.
Time Series Key FindingsOur study found that the campaign for the 1–4 month inquiries, while not stimulating much new interest, reinforced the user’s decision to submit
Control Test Incremental Wins Lift
Records 960,000 960,000
Inquiries 1154 1519 365 32%
Enrollments 73 101 28 38%
CAMPAIGN RESULTS
The A/B analysis showed a positive lift in both new form completions and enrollments, showing the incremental impact of the Facebook Ad Remarketing campaign.
a form in the first place and therefore positively influenced enrollment. Users in the 5–24 month test groups were statistically more responsive than their control counterparts, therefore driving incremental value at both the lead and enrollment level and at a greater percentage. This shows the campaign’s ability to rekindle interest in the school and drive incremental growth for inquiries aged 5–24 months.
O"ine, Closed-Loop Reporting Our analysis also found that the online conversion pixel only accounted for a fraction of the campaign’s impact. Today’s prospective students use many channels for research and form submission. However, with our ability to match emails one-to-one through the college’s CRM system we were able to compare those who responded to the campaign on the back-end for complete, closed-loop reporting. This allowed us to show the true incremental impact of the Facebook remarketing campaign across all of the colleges many acquisition channels.
ConclusionsThis 1 :1 targeted campaign with TruSignal via Facebook was a cost e"ective way to utilize one of the schools best, hidden assets$—$past prospects.
List Expansion for Improved ReachWith TruSignal’s proprietary email append and clean-up process the number of targetable users in Facebook increased by 24 percent.
Incremental Enrollments Show Campaign SuccessSome aged leads would have come back and converted “on their own” without any prompting
from the Facebook campaign. To accurately quantify the value of the campaign, it was important to measure the incremental enroll-ments (i.e. users who would not have enrolled if not for the Facebook campaign) attributable to the Facebook campaign. By running a carefully controlled A/B testing protocol, we were able to demonstrate a 38 percent increase in enrollments in the test group. Since both the control and test group received identical treatment (apart from the Facebook campaign), we can conclude that the incremental enrollments in the test group are a direct result of the Facebook campaign.
Closed-Loop Analysis is Critical
By implementing the closed-loop reporting with email match-back, we were able to track and measure 100 percent of the responses.
Creative Optimization is a Must-Do
The creative testing and optimization techniques provided critical insights into the right creative messaging to re-engage prospective students.
There is a Sweet SpotThe campaign made the most impact on inquires 5–24 months old with the highest response and enrollment rates being at 13–24 months. We can conclude that using Facebook to re-engage inquiries under five-months-old is not as cost e"ective as waiting until they are closer to five-months-old.
