A small private dining company had goals to bring in consistent, high quality leads. Because this business was higher end, our Paid Media team started out by targeting the top 10% of household incomes in all but one of our ad campaigns. We hypothesized these parameters would match and draw in our target market best.
In the one campaign targeting household incomes lower than the Top 10%, we noticed we were bringing in additional conversions and lower cost per leads than the other campaigns with limited targeting. We decided to shift and open up targeting to all household incomes for all ad campaigns and see if we saw similar results. The results:
- 18% Increased Engagement Rate: Ads are reaching more relevant people who are interested in our private dining company. By opening up our targeting to additional income levels, we are able to get in front of more of the right people who are interested in doing business with us.
- 10% Reduced Cost Per Lead: By opening up targeting to 90% more households, we had more opportunities to reach additional leads and were able to optimize to reduce the cost per lead from $244 to $219.
- Drove Almost Half The Conversion Volume With 70% Less Spend: We ran these ads for a month with the new targeting and they brought in 3 of the 8 leads for the month with 70% less dollars due to lower CPCs of lower household income users.
Analyst, Paid Media at Augurian
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