Marketing agency and growth experts, Ladder, are running ads for some of the biggest names in the industry. To ensure the team is constantly optimizing for success they run thousands of tests on loads of different content and campaigns. Over the course of these tests, they’ve seen some real winners and a few losers.
And so, the Test of the Month competition was born. This is an opportunity for everyone at Ladder to share their innovative, impactful, and clever work from the previous month. It’s a chance for great ideas to be recognized and then shared with us all.
And guess who received 1st place … yup, it’s Promo.com!
This month’s Test of the Month winner is Growth Strategist Morgan Schofield for his experiment on a SaaS client that wants to drive more top-of-funnel traffic to their site for conversions to email capture. For this experiment, Morgan set out to benchmark the new Promo videos to advertise the platform and the USP to determine if people are more likely to engage in videos on social media so we expect to see a higher CTR than static images. He also used the Unbounce CRO landing page to optimize the conversion environment.
“I created the promotional videos using the digital video service, Promo.com, for $25 per video,” says Morgan. “I benchmarked this test to the client’s email list and scaled to target crypto audiences in-line with their USP. The budget started at $50/day and I scaled it to $150/day.”
Keeping in mind that video ads have an average CTR of 1.84%, Morgan’s results were absolutely incredible!
“Of the four videos launched, the video ad got 11% CTR, a CPA of $3.84, and drove 54 new leads on the landing page (to date),” says Morgan. “It also scored 10 on Facebook’s relevance score — I’ve never seen a 10.”
Morgan says this experiment opens up new opportunities to experiment with new ad formats to improve conversion rates in the future. “The success of this test has reaffirmed the value of Ladder to this client and illuminated opportunities for further optimization deeper in the funnel,” says Morgan.
Congratulations Morgan on winning Test of the Month!
This tactic requires media budget
Using an auto-play video in an ad can drive a deeper emotional connection and can be much more engaging. In Ladder’s experience, the CPM of video ads is much lower due to the high engagement rate and relevance score. This can be a very cost-effective way to reach a much larger audience than normal, in a less obtrusive, more engaging way.
Success Rate: 57%
All of the tactics the Ladder strategists used are currently available in the Ladder Playbook, including a public database of over 800+ acquisition, conversion, and retention tactics.