47,188 applications generated. Reduced Cost Per Application by 68% within 2 months. Acquisition channel led to 12+ new markets launching.
Reduction in Cost Per Application by 68% within 2 Months
Papa, like a number of marketplaces, suffers from a two sided, “chicken and egg” acquisition problem. Not only do they need to acquire older adults and families that need help for their demand side service, they also need to attract students on the supply side to fill the demand. When they started with us, they were only in 2 markets and eager to crack the acquisition code, so we had a playbook to expand to multiple markets.
We started off restructuring the funnel, which was long and unoptimized which meant poor conversion rates. We set up a landing page that drove to a lead capture application form, which then went directly into an onboarding funnel. That significantly improved conversion rate from ad click through to actual application / lead capture.
We chose Facebook / Instagrams ads as our marketing channel since this was a service that not many people knew existed / weren’t looking for so it required both discovery and education. On the top of funnel front, we used a combination of Lookalike and Interest audiences to improve Cost Per Application, which led to a 315% improvement in efficiency.
For creatives, we tailored our copy and imagery to avoid being placed into a Special Ad Category for recruiting which would have severely limited out targeting options. For example we promoted the income incentives on video ads instead of directly in the description/headlines so our ads would be approved accordingly.
Through rapid testing and optimization we were able to dramatically increase efficiency, and we had a playbook that we could use to scale to other markets. In just a few months we scaled from the 2 original markets to over 12 new markets.
On the consumer front, to acquire senior users, we used Google Ads for higher intent traffic. We targeted 2 main markets: senior users looking for transportation, and senior users looking for help around the house. We set up Single Keyword Ad Groups in each category segmented by market, and were able to bring Cost Per Call down from around $38 to $5. We diverted budget to the best performing markets, and focused on optimizing spend there.
We generated 47,188 applications with a reduced Cost Per Application from $7.65 to $2.43 per application in the first two months. We then used our playbook to scale from 2 to over 12 markets.