Paid Social

How we optimized Meta Ads to Boost Sign Ups and Lower CPAs

One of the video streaming platforms allow users to stream live to various platforms and set up pre recorded video content schedules. The service offers a basic option where users can stream to two platforms at once. To access features like streaming to five or more platforms simultaneously the pricing starts at $20, per month for the basic plan and goes up depending on individual requirements.

It’s essential for SaaS companies to attract users by encouraging sign ups so that they can try out the product first before deciding on a paid subscription option. However the environment of paid media is highly competitive with platforms, like Onestream, Riverside and Streamyard competing fiercely for market dominance by implementing competitive pricing tactics.

The Challenge
The online platform encountered a challenge in promoting effectively through paid social ads – although the number of new registrations was consistent; the number of actual subscriptions was not keeping up the pace with it Despite managing to lower the cost per registration to $5 the percentage of users converting to paid subscriptions remained below 5%.

They spent most of their budget on Meta ads followed by Reddit and X ads focused on attracting new sign ups. Campaigns targeted two product categories. “Multistreaming” and “upload & stream.” Our paid social agency thoroughly reviewed all three platforms as part of our analysis.

Findings

There was a focus on the 45 and above age group in Meta’s budget allocation leading to an imbalance, in audience spending. Targeting an audience range of individuals aged 18 to 65 was the approach for campaigns that spanned across the United States and various international regions worldwide. The global campaigns specifically emphasized Asia with a focus on countries like India, Pakistan and the Philippines due, to their cost sign up rates. Despite this emphasis the regions did not frequently transition to paid subscription plans.

The limitation of having one creative, per ad set caused the campaigns to remain stagnant in the learning phase and restricted their overall performance. After reviewing these ad campaigns in detail we revamped the structure to align with best practices.

Campaign Restructure: Focus on Key Markets using Analytics Data

• US was the top region driving subscriptions.
• Key Markets in Europe include the United Kingdom and countries, like Canada and Australia. Additionally Mexico was a market worth focusing on.
• Non primary markets include India, Pakistan, the Philippines, Indonesia, Bangladesh and Sri Lanka.

Target Audiences:

• Target Audience previously was aged 45 and above.
• We adjusted the budget to focus on the 18 to 44 age group by assigning 60 percent of the funds to them and allocating 40 percent to the 45 and older demographic.

Meta Results.

• After a few weeks had passed by there was an increase in registrations, from both the United States and key target markets.
• Half of the advertising budget was targeted towards the demographic of individuals aged 18 to 44.
• Cost per lead decreased by -50% month on month and the focus was more in line, with the desired audience.

Reddit Results:

• After applying the segmentation approach cost per lead decreased by 20%.
• In the United States the cost per acquisition was $20-25 on average whereas in Priority markets it was $15—a 50% decrease, from the previous campaigns CPA.

Key Takeaway

Switching from targeting a range of people (ages 18 to 65 worldwide) to focusing on specific geographical areas and age groups helped us improve how well our ads performed on different platforms. We adjusted our budget allocation so that 50 percent was dedicated to the US market while 40 percent went to priority markets and the remaining 10 percent to priority markets. This change resulted in half of the spending being directed at the core audience aged between 18 and 44 years old. Led to a 20 percent reduction in cost per acquisition, on Reddit.

The Importance of Regular Audits
This example underscores the significance of carrying out evaluations of your paid social campaigns.Regular assessments can reveal inefficiencies and potential areas for expansion as demonstrated by our paid social agency’s findings.

Ways in Which We Can Provide Assistance
Social Whiz expertise lies in crafting paid campaigns that deliver tangible outcomes for your business needs swiftly and effectively. Be it enhancing your Meta advertisements or venturing into new avenues such, as Reddit,TikTok or Pinterest to aid in achieving your objectives efficiently.

If you’re all set to enhance your paid campaigns and take them to the next level feel free to get in touch with us using our contact form.

Interested in delving into optimizing Meta ads ? Keep an eye out for guides, on Reddit and various paid social media platforms.