How We Saved $20K and Increased Number of Leads by 85%: Case Study
Updated: Nov 1, 2022
Jet Ride is Florida's #1 boat and jet ski club. Jet Ride is a revolutionary company that is on the cutting edge of the ride sharing industry. Their mission is to get as many people on the water at the lowest cost possible. Jet Ride is able to succeed at this by spreading the cost of ownership across our vast membership base in turn lowering the cost to everyone who is a part of the Jet Ride lifestyle!
Jet Ride came to GenTech Marketing to increase lead generation, lower their cost per lead by $20 and improve conversion rates. With GenTech Marketing being the industry leaders in generating leads through Google and Facebook ads, Jet Rides reached out to us.
Before working with us, Jet Ride was working with another marketing agency that was getting them $37.17 per lead. Jet Ride was also spending $21K a month with this agency to generate about 570 leads every month. Their previous marketing company was spending money on incorrect conversion tracking - missing out on important data by targeting an action that is not prioritized for IOS 14.5+. Jet Ride came to GenTech Marketing to lower their cost per lead and to increase conversion rates, and that was our goal.
To hit our goal, we utilized Facebook ads to make conversions for Jet Ride. Facebook Ads is a very powerful tool because it exchanges money for attention. We utilized conversion based Facebook ads. GenTech Marketing optimizes their ads by creating ads that are relevant to users and then perfecting these ads informed by data collected through A/B tests and user testing.
We used 3 campaign budget optimization (CBO) campaigns: one CBO with the 3 winning ads, one CBO with the second best 3 winning ads, and the last ad budget optimization tests 11 different target audiences. Campaign budget optimization (CBO) automatically manages your campaign budget across ad sets to get you the overall best results. We use ad budget optimization (ABO) to find the winning ads. The qualities of a winning ad are that it engages, has a value proposition, evokes emotion, and results in conversions. The copy-write strategy we use in our Facebook ads is a good quality picture, an offer, a hook, and an urgent call to action!
To accomplish these goals, GenTech Marketing utilized our multi-platform certified ad manager to show their ads to the right audience, on the right platform, at the right time!
In only 7 days of working with us, Jet Ride spent $5K through GenTech Marketing on Facebook ads to generate 1,056 leads. That is almost double the leads that their last marketing company would generate for them in a month for $25K. So Jet Ride is now saving $20K and generating 85.6% more leads with GenTech Marketing. We were able to go above and beyond their expectations by lowering the cost per lead from $37.17 to $5.13 per lead. That is $32.04 less per lead, when the goal is simply to decrease the cost per lead by $20.
Now after working with us for a few months, the ad campaign ran by GenTech Marketing for Jet Ride has generated 7356 leads, with a 30% sit down rate and 50% close rate. The average life time value (LTV) of each client is 15K. Resulting in an additional yearly revenue of 5 million dollars.
There are many professional marketing companies that generate good results. For example with this client, $37.17 per lead was decent and they were still able to grow their business. When you work with GenTech Marketing, you generate a lead 7.3x better. This means that Jet Ride is now able to grow their business 7.3x faster than before. The cost per lead measures how cost-effective our marketing campaigns are when it comes to generating n