It is a company dealing with distribution and exchange of bitcoints (e-currency). The client operates on a local market and uses Google Google Ads along with other sources for sales generation.
Bitcoin Selling Company: Sales Growth by 65% and Conversion Cost Reduction by Half
The Client
The Problem
Initially, cost per sale was $40 which almost twice exceeded the acceptable level. According to client’s business model, profitable conversion should not rise above $15-$20.
The Solution:
1. A Comprehensive Audit
At first sight, the campaign was set up correctly without major mistakes. But as it often happens with PPC – the devil was in the details.
For example, not all keywords were equally useful. Especially those with cost per conversion over $1,000:
All in all, out team has found a bunch of small flaws responsible for budget consuming.
2. The Plan of Actions
We created the “To Do” list and prioritized steps in there.
3. Getting Things Done
We added new keywords, rewrote ad copies, restructured Google Ads account and made some other useful changes.
4. Interim Results
During the first month we managed to get close to our goal by reducing cost per conversion from $40 to $21. This was a non-typical case, though. Commonly, these results can be achieved after 3-6 months of hard work and not for all businesses. But this time everything turned out to be successful quicklier due to the following factors:
Factor 1
Initial drawbacks
Originally the campaign contained many little flaws. Neither of them was critical, but each reduced overall efficiency by 1-2%.
Factor 2
Opportunities
The team researched a few dozens of additional and very effective keywords.
Factor 3
Client's engagement
The client responded to all questions in no time and helped get used to business environment quickly.
5. Moving On
After conversion cost stabilization, we moved forward and set a goal to increase the number of sales.
New keywords testing (similar, but not directly related)
Landing page relevance improvement
New bidding strategy examination
Remarketing functionality usage
The Outcome
After 3 months of cooperation agreement:
$40
New cost per conversion (instead of $40)
100
New conversions amount (previously was 100)
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