$178K revenue ($130K+ profit) from an Automated Webinar with a $1500 Price Point and 3 Months of Testing
I ran an automated webinar for a client over the course of 3 months with the intention of generating a highly targeted, local marketing focused list of potential buyers.
The product itself was $1500 with no payment plan. I questioned my client as to whether this was a good idea, but we ran with it anyway. I am glad we did!
- Start Date: March 3rd, 2016
- End Date: June 22nd, 2016
- Objective: Website Conversions
- Item: $1500 “done-for-you” package
- Revenue: $178,500.00
- Ad Spend: $45,761.48
- Registrations: 4319
- Website Clicks: 12,270
- Registration Rate: 35.19%
- ROI: 290%
Overall CTR varied by ad set from 0.60% to 2.27%. Desktop showed a higher CTR at 1.06% vs. Mobile at 0.87% overall, but 73% of all registrations came from Mobile (ALWAYS split test placements).
As for CPC, these were high across the board! Average CPC was $3.73 overall with Desktop at $5.91 vs. Mobile at $3.25. Some of you are probably shocked at the high CPCs…didn’t bother the client when the ticket price is high and registration rate was a solid 35%.
In terms of registrations, 73% came from mobile devices. 69% of all registrants were Male, which didn’t surprise us whatsoever. Our average cost per registration overall was $11.07 on Desktop vs. $10.42 on Mobile.
Now I’m sure some of you are freaking out about the registration cost too (lol). When the campaign initially started, registrations were around $5-$6/reg, but into the middle of month 2, we notice the cost was getting REALLY expensive.
The reason? Here were our thoughts:
1. Algorithm changes (there were plenty in May)
2. Banner blindness
3. Offer was getting “stale”
4. I was off my game (possible) 🙂
Here’s a fun fact: A high cost per registration was a blessing in disguise. Why? Because even with high CPCs and CPLs, the webinars continued to be profitable. Out of the 15 webinars during that period, only 3 did not make a profit. 80% win rate is fine with us!
- When you feel a campaign is dying out, test new images and copy before assuming the offer is officially done.
- Test as many audiences you can (budget permitting); we tried 90 different interests.
- Split test placement, age, and gender and make sure to do so at a deep level i.e. 25-34 – Male – Mobile – One Interest or 35-44 – Female – Desktop – One Interest
- Have fun and don’t give up!