Squire
Reduced Cost Per Lead by 68% in the first month. 17.3x Lead Volume in the First Month. 65.91x Lead Volume by month 3 with improved cost per lead.
68%
Reduction in Cost Per Lead in the First Month
17.3%
Increase in Lead Volume in the First Month
65.91x
Increase in Lead Volume by Month 3 with Improved Cost Per Lead
The Problem
Squire is an all-in-one platform for barbershops and independent barbers to manage their business, including reservations, loyalty programs, payments, social media and much more. Backed by top Silicon Valley investors, Squire came to us after raising their Series A to really help them accelerate their growth. After a quick audit of their Facebook and Google ad accounts, we noticed that cost per leads were way too high to scale to where they needed to. We also looked down funnel and realized there wasn’t an effective way to measure how qualified leads are and that there wasn’t enough prospect reengagement happening on the sales side.
The Strategy
We first started by giving the team feedback on their sales strategy and funnel. This included advice on how to manage leads and on how to retarget leads via email down funnel. On the Facebook advertising front, We started off testing different funnels, lead form vs website request demo flow. The lead form performed better, so we focused on optimizing conversion through there. We tested segmented Lookalike audiences and stacked interest audiences (since the audience of barbershop owners is relatively small) and managed to reduce Cost Per Lead by 68% in the first month.
The lead form ads were great, but we wanted to make the website request demo flow work so that prospects had more information and were further primed before signing up. To do this, we redesigned the landing page and funnel, and relaunched a new campaign, achieving a better Cost Per Lead than our lead form campaigns. To increase lead volume, we also added Google as a channel, using a single keyword ad group strategy. Since Facebook retargeting is so powerful, we pixeled all of the users from Google ads to retarget on Facebook leading to higher conversion.
The Result
We reduced cost per lead by 68% in the first month and increased the number of leads by 1,730%. By the 3rd month, we then increased lead volume by an additional 381% while slightly improving Cost Per Lead which is rare when you’re scaling campaign budgets.