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Growth hacking facebook ads case study

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A growth hacking case study of generating 1000 B2B leads under the budget of $10 using Facebook ads.

Growthmeets.com is a data-driven growth marketing agency that helps startups scale their customer acquisition efforts via weekly growth experiments.

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Growth hacking facebook ads case study

  1. 1. CASE STUDY How we generated 1,000 B2B leads for less than $100 on Facebook
  2. 2. HOW WE GENERATED 1,000 B2B LEADS FOR LESS THAN $100 ON FACEBOOK
  3. 3. CLIENT'S PRODUCT They are truly making this world a better place. Innovative Cook Stove that would reduce 85% of smoke compared to traditional cook stove. Women using regular cook stove would inhale smoke equivalent to two packs of cigarettes a day. Their new product would reduce indoor smoke that was responsible for millions of deaths every year.
  4. 4. MARKET ANALYSIS CHALLENGE: B2B distribution of stoves in the rural parts of India. TARGET AUDIENCE: Segment 1: Local supermarket owners in tier 3 and tier 4 regions of India. Segment 2: Local NGO’s and self-help groups working for the welfare of women in tier 3 and tier 4 regions of India. CHANNEL: Facebook Ads
  5. 5. GROWTH EXPERIMENTS From our initial research and team’s past experience, we figured that reaching out to local NGO’s and SHG’s should be a first priority. The reasoning was simple – they are working on ground to improve the quality of life for women in rural parts of India . So they could clearly connect with our problem statement and in-fact were looking at a product that could solve their problem – reduction of indoor smoke for women – better stove without smoke. STRATEGY OVERVIEW
  6. 6. EXPERIMENT 1: AUDIENCE MATCH FOR PRODUCT We focused on 13 states in India and narrowed our target to key individuals who were involved in building self-help groups, microfinance for women, multi-fuel stove etc.  Assumption: We assumed that these key decision makers will have access to Facebook and are regular Facebook users.
  7. 7. We initially run the campaign to gather enough reach and engagement, so we waited till we got 1,000+ impressions about 25 likes and comments on these ads. This was a good engagement ratio. We were tracking the users who were liking the ads and saw that their profile matched with our target audience by almost 85%. We also saw about 8 comments coming in asking more details about the product.   Interestingly, this experiment cost us only Rs. 54/- This was a good start. EXPERIMENT 1: AUDIENCE MATCH FOR PRODUCT
  8. 8. EXPERIMENT 2: LEAD GENERATION Now that we had a good audience match, we setup a simple lead form within Facebook, so users who were interested to know more could directly leave their contact details. We kept our form very simple, just 3 fields - Name - Mobile - Email  Nothing more.
  9. 9. EXPERIMENT 2: LEAD GENERATION First 2-3 days we saw about 20 users sharing their details. The cost per lead was about Rs. 40. We optimized a bit and in the following month, we saw cost per lead dropping significantly and that also got us more leads. We also had a team to call these new leads to add them to the sales pipeline. This ensured high quality targeting and gave us confidence to scale the campaign.
  10. 10. EXPERIMENT 2: LEAD GENERATION RESULT: We got 151 leads by spending only Rs. 723/- (about $10) and CPL was Rs. 4.79/-
  11. 11. EXPERIMENT 3: SLIGHTLY BROAD TARGETING TO REACH MORE USERS. With good success from last campaign, we setup another campaign to reach more users, so we added a few broad audiences to our targeting. The new targeting was bringing in more engagement on our ads and also drove some traffic to our website, it was affecting our core metric, CPL. Over the next month, we optimized this campaign to reduce CPL but the best that we got from this campaign was not good enough.
  12. 12. EXPERIMENT 3: SLIGHTLY BROAD TARGETING TO REACH MORE USERS. RESULT: We got 254 leads by spending only Rs. 2,118/- (about $30) and CPL was Rs. 8.34/-
  13. 13. EXPERIMENT 4: LOCAL SUPERMARKET OWNERS TARGETING We setup lead generation campaigns to connect with supermarkets owners and distributors. The plan was to have presence in supermarkets locally to influence local NGO’s and SHG’s with social proof and ensure easy availability.
  14. 14. EXPERIMENT 4: LOCAL SUPERMARKET OWNERS TARGETING
  15. 15. We launched this campaign in 13 states in India and started getting good engagements on all our ads.EXPERIMENT 4: LOCAL SUPERMARKET OWNERS TARGETING RESULT: Got 653 leads by spending Rs. 3,514/- and CPL Rs. 5.38/-
  16. 16. OVERALL RESULTS: In about 3 months that we ran this campaign, we got some pretty interesting outcomes. We got 1,127 leads from all the campaigns by spending Rs. 6,628/- (less than $100) on Facebook at a CPL of Rs. 5.88/- (less than 9 cents).
  17. 17. OVERALL RESULTS:
  18. 18. As a bonus, we also got good engagement on our Facebook page and traffic to our website. We got 728 new likes on FB page and 3,771 clicks to our links.
  19. 19. Always be measuring – whether it’s your impressions, reach, click, CPC, CPL etc. Each and every metric must be defined for every campaign and be measured constantly. The decisions you make must be data driven, else the growth experiments will fail to deliver real value. PRO TIPS:
  20. 20. To ensure high quality engagement, take some time out to analyze who is engaging with your content by visiting their individual profiles. This will save a lot of money and resources in the future. Run smaller growth experiments to validate your assumptions and only when it works well, add more budgets. PRO TIPS:
  21. 21. LET'S TALK GROWTH GET RESULTS WITHOUT BREAKING THE BANK!

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