How we leveraged AI paired with Creative Strategy to decrease V1CE’s Cost per purchase by 55%
Our Challenge
V1CE was already investing heavily into Paid Social with a 6 figure ad spend per month on META alone. The issue they faced, much like many other e-commerce brands, is their existing CPA didn't leave much room for profit.
Our Solution
Understanding COGS & KPIs
We worked with the client to analyze their COGS and establish the right KPIs needed for profitable growth. By diving into the business's back end, we identified their 'Hero Product' and required profit margins. We then tested various offers and creative angles until we found the most resonant and profitable option to put ad spend behind at scale.
Account Restructure
This particular account had over 25+ live campaigns built up of bid caps, ABO, cost caps, retargeting, and more. On a surface level, you could be tricked into believing that this was a fair attempt at growth using the tools available - but what we saw was an algorithm so limited by audience overlap, budget restraints, unrealistic cost/bid caps, and minuscule-sized retargeting audiences that it had 0 chance at optimising on the data it was receiving, and little to no room to maneuver. Resulting in high visibility costs, leading to high cost per purchase and unprofitable ads.
Creative Revamp
We deep-dived into their existing creative, what was working, what wasn't, and why. Their ads were very one-dimensional. They were converting outside of our newly found KPIs, with plenty of room to increase performance.
We then analyzed competitor ads, went through ideal customer pain points, and product reviews of their own and of similar companies within the market. Collated all of this new data and mood-boarded a direction to please META’s AI, expand the brand's reach, and resonate deeper with the people they were trying to sell to. After identifying a budget the client could commit to for this creative re-vamp, We outsourced 2 external partners to help bring the vision to life. Click here to view the end results.
The Solution
Understanding COGS & KPIs
We worked with the client to analyze their COGS and establish the right KPIs needed for profitable growth. By diving into the business's back end, we identified their 'Hero Product' and required profit margins. We then tested various offers and creative angles until we found the most resonant and profitable option to put ad spend behind at scale.
Account Restructure
This particular account had over 25+ live campaigns built up of bid caps, ABO, cost caps, retargeting, and more. On a surface level, you could be tricked into believing that this was a fair attempt at growth using the tools available - but what we saw was an algorithm so limited by audience overlap, budget restraints, unrealistic cost/bid caps, and minuscule-sized retargeting audiences that it had 0 chance at optimising on the data it was receiving, and little to no room to maneuver. Resulting in high visibility costs, leading to high cost per purchase and unprofitable ads.
Creative Revamp
We deep-dived into their existing creative, what was working, what wasn't, and why. Their ads were very one-dimensional. They were converting outside of our newly found KPIs, with plenty of room to increase performance.
We then analyzed competitor ads, went through ideal customer pain points, and product reviews of their own and of similar companies within the market. Collated all of this new data and mood-boarded a direction to please META’s AI, expand the brand's reach, and resonate deeper with the people they were trying to sell to. After identifying a budget the client could commit to for this creative re-vamp, We outsourced 2 external partners to help bring the vision to life. Click here to view the end results.
Our Results
55%
Decrease in Cost Per Purchase
200%
increase in new monthly patients
34%
spike in new patient conversion rate
92%
rebooking rate
Client Review
David & his team are exceptional ads managers. They took our start up ideas and ran with them. Ensuring communication along the way and always offering up their experience and skill set to improve our own ideas of the creative side as well as our app.The team's skill set goes beyond ads. A pleasure to work with, filling us with confidence whilst running our ads.
Hayden
Brand Owner,
V1CE
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