How we added 1,813 qualified leads in 4 weeks for less than $3 per lead and reduced cost per lead by 63%
Biogena USA Inc. Case Study
Increase the email list with quality subscribers and leads, to monetize the list.
Biogena USA Inc, subsidiary of Biogena GmbH. Based in Austria with 300 employees and €60 million annual revenue in Europe (Austria – Germany – Switzerland – Italy).
The client had no list of subscribers in the US and wanted to change this. As per previous case study, you have seen that sales weren't existing yet.
The emphasis was QUALITY leads over quantity. List building and email automation was a new concept for this European based company. Europe has strict GDPR privacy laws restrict businesses from aggressive lead collection and emailing. The company also didn't have a structured nurturing set up.
Funnels have statistically proven to generate more leads and sales than websites time and time again.
Although the idea of funnels isn’t new, they got a lot more traction the last few years. Those who know how to take advantage of funnels in the digital era, WIN.
Proven funnel software such as Click funnels is the best option to create funnels, widely used with a lot of options.
Facebook is the best online platform to get the highest ROI on your marketing budget and using funnels and Facebook, you create an enormous opportunity for growth.
Email address collection serves 2 primary purposes. Confirm people the purchase was successful, and it gives the opportunity to nurture the list and create future opportunities.
Active Campaign has some of the best tools to automate email sequences and create lists.
The client created a new Facebook Business Manager and ad account. A Facebook pixel was available, but it had only limited data (only 4 months), which would prove cumbersome at the start.
Without a proven offer, or product, or any proven audiences, everything had to be tested and validated from scratch. Doing all of this in a highly competitive market is challenging.
One funnel would be a direct sales funnel with a ‘Free plus Shipping’ offer, the other funnel would be a tripwire funnel with an Ebook as a lead magnet.
We already had been running sales conversion ads for several months (see previous case study) so we got a better picture of the client's avatar.
For us, it was a question of finding the right lead magnet and the right ad set up.
Normally Facebook Lead Ads are cheaper to run, you don't have to leave the Facebook platform and Facebook favors this.
Depending on the business, leads generated this way can be low in quality.
Magic Bullets Don't Exist
Social media marketing is incredibly powerful and rewarding, but expecting overnight results will lead to disappointment.
Success takes time. The learning curve can be shortened dramatically with an experience partner, but it can't be eliminated.
How we do this
We follow a proven processes top marketer such as Russell Brunson and Todd Brown developed, and couple that with ad frameworks used by the top 1% media buyers in the world.
Steps to Success
- 1Through the process of elimination, we tested audiences, ad types and funnels. As expected, conversions are far and in Costs Per Lead – CPL – started out higher than we wanted ($8-10).
- 2We dropped Lead Ads after 2 weeks and started testing funnel pages and different creatives in the ads.
- 3The normally more expensive conversion ads started out very promising. We tweak ad copy, tested different headlines, creatives and with every adjustment CPL’s steadily dropped.
Improvement -63% Cost Per Lead
After 2 weeks we dropped the Lead Ads and started testing Conversion Ads to our Landing Pages. Costs started to drop, but we didn't have the exact winning formula yet.
The Pay Off
After several weeks testing, we find that for our case, conversion ads are working better than Lead Ads. What is left now is testing different creative and copy to get cost per lead further down.
How funnels work
Funnels follow intricate steps and guide people through the signup process.
A good lead magnet presented to the right audience will convince people to trade their email address for valuable information.
Expand and Scale
We have a funnel that is scalable for quick growth.
New territories such as the UK, Australia and New Zealand are now also on the cards in the future.
Biogena GmbH can grow from a European powerhouse to a global one.
The Power of List Building
We are adding a lot of new email addresses to the database, allowing for future sales through email marketing. Not every interaction leads to a sale, but we have the ability to stay in touch with everyone and nurture the email lists.
The concept of funnels also works for lead generation and can be very effective building lists of fans for your brand.
Offer something of value upfront, in return for an email address. Once captured, you can nurture these leads and monetize your list.
Many business owners underestimate the value of email lists. You can present your products (but don't SPAM, and continue to offer value) for a long time, at no extra cost! A qualified lead can be worths hundreds, if not thousands of dollars over its life time (Life Time Value - LTV).
Your Next Steps
It will work for your business too
Funnels are used in every niche. For physical products, SaaS (digital) products, services, coaching.... from brick and mortar businesses (gyms, plumbers, restaurants, etc.), to service providers (dentist, chiropractors, lawyers) and online coaches.
Funnels will drive your sales, get you leads and propel your business forward in a way you will never achieve with a conventional website.
If you would like to see if funnels are a good fit for your business, or your would like to optimise an existing setup, just book a FREE 30 minute discovery call below.