Google Ads Case Study: How CoHive Decrease CPA by 62% using Conversion Rate Optimization Strategy
62%
CPA Decrease
90%
Conversion Rate Increase
18.33%
CPC Decrease
Background
CoHive, firmly known as EV Hive is a coworking space based in Indonesia. They provide flexible workspace, business service and networking for entrepreneurs and startups. Located in 19 locations around Indonesia including Jakarta, Tangerang, Medan and Surabaya.
In June 2019, EV Hive or CoHive announced that it raised US $13.5 million in a new round of funding led by Korea’s Stonebridge Ventures. As the co-working industry has found popularity in recent years, CoHive is growing beyond its core business to offer living spaces (CoLiving) , and services for retailers (CoRetail).
Pipeline has been a great help to CoHive, with them we reached our targeted leads and even surpassing the target given.
They are also very helpful throughout the partnership, giving solutions for our technical problems including SEM, SEO and even leads management.
The team are also very easy and fun to work with as well, making a very applaudable experience working together with them
Daniel Marpaung Marketing Lead of CoHive
Pain Points
CoHive used PPC to generate most of their leads, with 12 of their leads turned into customers. In the beginning of Q2, CoHive faced fierce competition that resulted in higher than expected costs.
So, seeing this, CoHive started to focus on conversion rate optimization in order to decrease cost per acquisition (CPA) and demand higher ROI compared to the previous quarter.
Find out how CoHive successfully decreases their CPA in this Google Ads case study!
Solutions
We do an experimentation A/B testing campaign by building a new high quality LP that is designed with one goal to get users to convert. The LP structure, design, and copy vary depending on its goals. We keep the navigation simple, so visitors shouldn't feel overwhelmed when reaching our LP and decrease loading times.
We created four new landing pages, and the result is that the new A/B testing LP campaign captures more leads with an average 43% higher conversion rate.
Overall result, we aim to generate 90% growth on conversion rate.
Overpaying for clicks and leads can kill any ad budget, so we increase CTR 203.1% by monitoring the ad campaigns and fine tuning the strategy. We optimise bid strategy, Ad copy and creative, following the market trends and optimise the ad relevance. By increasing CTR we were able to reduce the CPC by 18.33%
We need to get smarter in our approach in handling customers so we can ensure our work is more efficient and effective at creating prospects for the consumers. We try to broaden our strategy and capture a wider interest by onboarded onto Google’s Performance Max.
We could reach more people who were using one or more Google’s products. By matching our ads to Google’s insight on user intent, behaviour and context we could not only reach more people but in the right place and time.
After launching the new strategy, we achieved an additional 40% conversion at a CPA 62% lower compared to the previous period.
Building High Quality Landing Pages for A/B Testing Campaign
Ad Strength Optimization
Launching New Campaign Strategy
Result
After focusing on Conversion Rate Optimization, we saw an extraordinary result, far surpassing our usual target in “normal” periods. We achieve 90% growth in conversion rate. Not only did conversion rate improve, but we also managed to decrease 18.33% CPC. On the other hand, we aim to decrease CPA by 62% compared to the previous strategy.
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We use our data-driven approach to analyze and predict your user’s needs, wants and future behavior. This insight helps us plan and execute personalized marketing strategies for the highest possible ROI for your business.
Pipeline is a B2B digital marketing agency in Jakarta that specializes in lead generation. We use lead management by prioritizing data, technology, and measurement in every marketing activity so that companies can make continuous improvements that lead to significant business growth.
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