In order to position Lithium for expansion, BusinessOnline took a two-phased approach to optimizing their paid search efforts. Phase one involved A/B testing ad copy, bid strategies, landing pages, and target keywords, with the goal of aligning content with user’s search terms to improve conversion rates. Phase two involved identifying expansion areas, including targeting additional keywords based on Lithium’s new product focus and developing Campaigns aimed at competitor products.
Lithium wanted to improve all efficiency metrics across paid search channels and scale up their presence, including:
- Increasing conversion rates, which were already on par with industry standards (~4%)
- Decreasing overall cost per lead (CPL), which was on average $120
- Identifying areas where spend could be scaled up
- Expanding into additional international regions
To meet Lithium’s aggressive CPL goals and position their account for expansion, BOL:
- Wrote and A/B tested completely new ads, moving to the expanded text ad format and consistently improving top-performing ad variations
- Broke out high-performing ad groups into their own Campaigns, allowing budget to be scaled up for keywords with lower CPLs
- Refined keyword targeting to align with their product focus on social media management, social customer service, and online communities
After BOL more than doubled Lithium’s conversion rate and cut the CPL in half, Lithium decided to triple their paid search budget to further scale lead generation. BOL built on the learnings and success of their primary account by expanding into three additional international regions (NEUR, ANZ, and DACH), and have maintained these improved efficiencies across all accounts.
- 125% increase in conversion rate, from 3.9% to 8.7%
- 53% decrease in cost per lead, from $117 to $56
- 3x increase in budget after improving efficiencies
- Successful campaign expansion into 3 new international regions