How We Reduced Engagement Cost by 150%
At this point in time, understanding how you can reduce the cost for advertising is the need of the hour, and this is exactly what we tend to advocate in this blog post giving a real life example from one of our clients based in UAE (Which is a very competitive market in terms of costs).
Here is the one word summary to how we did it – Custom Audiences
And the long answer is as follows (if you want to keep on reading..)
Step 1 – Brand Awareness Video
So glad that you chose to keep on reading. Well, let’s break down the steps behind how we did it.
The first thing we did was that we started promoting a brand awareness video, something that explained what the company stood for and what it was doing in the market and showed this video to people who would be interested in the products that we offer. The audience was not kept too restricted, because we wanted to get the best chunk of people who were interested to hear what we had to say. So the total audience size selected for promoting this video was around 2 million people in UAE. We ran our ad continuously for a period of one month with a consistent (nominal) budget. With the passage of time, we reached roughly 450,000 people from this audience who had been exposed to our main video at least 2-3 times with an Ad Recall Lift (Since it was a brand awareness video) of more than 10,000 people.
What happened next was interesting.
Step 2 – Custom Audience Creation
The next thing that we did was we selected the people who had viewed the main brand awareness video in the above ad and created a custom audience out of this. We also created a lookalike audience out of this so that our audience pool increased in size.
Step 3 – Follow Up Engagement Content
The third step to the equation was when shit got real. Here, we posted another piece of content (Again, a video) and we ran an engagement ad on this particular content focusing only on the custom audiences that we created in step 2. As a result, our cost per engagement for this follow-up video came to across $0.004 (compared to our usual cost per engagement that ranged from $0.01 to $0.04 for all types of content).
So from the usual cost of $0.01 to $0.004, the brand started getting more engagements at a lower cost and in the future we can shepherd this audience towards other ad objectives as well and build a relationship with them. For e.g. a follow-up lead generation campaign.