On February 1st, Insydo, an online listings and review guide for Dubai posted the story behind their first media campaign on Linkedin. As self described online startup, the heavy use of expensive outdoor billboards may have appeared esoteric to some. However, Insydo goes against current popular thinking by suggesting to “Redirect your budget into media placement instead of creation”.
The key analytics that would have been of most use would be the cost per acquisition (budgets are not stated), and given the use of outdoor it is difficult to attribute which channel is most efficient. Further, understanding the conversion rates from their landing page to the final site would be a helpful metric to prove the efficacy of digital funnels. They do mention that the bounce rate dropped by one third from 60% to 39%.
I attempted to reverse engineer the campaign with the data that was available to see if any further insights could be gained:
Outdoor, Display and Social led to the SaveStevesJob landing page from where users would then go to the Insydo page.
Knowns (from the Linkedin post):
- 2 million Facebook impressions (through paid and organic)
- CTR of 0.13% for their “Display” campaign
- Facebook competition entries; 650 out of 500,000 (a conversion rate of 0.13%)
- Searches executed on Insydo, 268,000
- Facebook and Display bought as CPM not CPC
- Estimated CPM for Facebook between $0.78 and $1.39
- Estimated CPM for Display between $1 and $1.4
- Estimated conversion rates from SaveStevesJob landing page to Insydo at 35%, 50% and 65%
I ran 2 models:
- Assuming Facebook CTR of 1% and volume of Display impressions at 3 million
- Assuming Facebook CTR of 5% and volume of Display impressions at 5 million
The effect of Outdoor
There is no way for us to tell the the actual number of visits from outdoor on visits to SaveStevesJob. I have simply used an estimate of 30,000 visits to the landing page for the purposes of the exercise.
Outdoor could have had an uplifting effect on people’s propensity to click on digital display ads. Local market conditions usually show an increased confidence amongst customers when billboards are used. One way to measure would be to note any mobile search activity for those keywords during peak visibility times.
Direct and other routes
Paid channels of course will not be responsible for all visits to the site. Because of the combination outdoor and online and the catchy URL, many people may have typed in SaveStevesJob directly or shared with friends on social channels.
Searches per user
We can assume that the 268,000 searches on Inysdo are not all unique users. Indeed the purpose of a good listings and review engine is to encourage repeated use, thus proving the stickiness of the platform. The calculations given in the tables are made by dividing the “left from 268,000” by the Totals given.
It’s unlikely that the average person would do as many as 15 searches, ideally they would do more than 2. A more reasonable estimate would be perhaps 3 – 5.
Running outdoor and digital concurrently makes it difficult to ascertain exactly which channels are the most effective. One could argue that using digital first to drive through the SaveStevesJob page then utilising outdoor to promote the final product, Insydo, may have been more effective. Is there a possibility that users will remember Steve rather than the final product and continue to go through this funnel? Perhaps Insydo will opt to keep the landing page and change the content regularly so as to prevent user boredom if this is to be the case.
Understanding the conversion rates from the landing page to Insydo is key. This type of information is particularly useful when combined with the value of the final user. It is also useful for considering best practices when it comes to B2B marketing, where the marketing focus skews more towards revenue than awareness. Fewer qualified leads are better than more unqualified leads. The decrease in bounce rates are one indicator that this worked.
The Cost Per Acquisition (CPA) can only be understood if it is known what the value of a customer search is to the company. Assuming a model where businesses will pay an affiliate commission to Insydo if a user makes a call or visits their website, the CPA should be lower than the amount Insydo will receive. At this stage in time CPA’s will be skewed because of the high cost of media campaigns. Understanding the LTV of a customer and the frequency of search activities before a final action is taken is also key.
Currently all the information required for a user to take action is immediately visible, meaning there is no requirement to “click to reveal phone number” or “register to get full details”. In order to mitigate drop offs in actions and to keep Insydo from being a static engine where users consume information only, there are a couple of options:
Either Insydo becomes a platform, tying in with GuavaPass (for fitness class bookings), Talabat (for food ordering and delivery) and other 3rd party transactional sites, allowing users to execute everything in one place;
Or, when they launch their mobile app in March, users will receive push notifications when they are in the vicinity of highly rated businesses, complete with offers and mobile coupons.
Facilitating transactions becomes more important to counter the effects of customer loyalty. For listings sites, once a user has found a business she is happy with she may not be as keen to search again. For businesses however, the value of that loyalty is a bonus. Key metrics here would be:
- How many businesses does a user try before she sticks to one?
- How many activities does a typical user have capacity for, and what categories do they fall in?
- What is the maximum number of businesses a user will interact with? (does she have a top 3 between which she rotates? Is it 5?)
- Does location have a positive or negative correlation with the previous point?
Giving users more opportunity to transact allows a greater value to be placed on that user once they come to Insydo, and therefore allows an increase in CPA, which will alleviate constraints on marketing budgets.
A final consideration should be given to the data on user behaviour being used as a potential revenue stream. Both Insydo platform and external data can be used to provide a richer profile of consumer behaviour, allowing businesses to optimize selling accordingly.
Insydo could ultimately provide the following information:
Single women living around Tecom / Greens / Marina tend to search for upscale food options whilst at work on the desktop. They are fairly loyal when it comes to beauty concerns, searching for different treatments on average twice a month as treats, but will regularly search for health and wellness activities even several kilometres away from their home. There is a positive correlation between choice of fitness activity and mid week nightlife choices. Those who search for yoga and pilates classes have a high overlap with searches for ladies nights.
Lots of luck to the Insydo team and here’s hoping to lots more data!
Source: New feed
Reverse engineering the Insydo Campaign