This is Week 5 in the 10 Growth Experiments in 10 Weeks series. We’re running 10 experiments to see which growth strategies are the most promising for Kiip’s business model and current state. Follow us on Twitter to get more marketing updates.
Over two months of Promoted Twitter Lead Card campaigns, we spent $1,053.48 on 5612 clicks, which generated 28 leads for a cost per lead of $37.62. The majority of leads were personal email accounts, and none converted into paying customers. Even though we may have been reaching the correct business leads, capturing personal email addresses is inefficient. I’m genuinely asking this question – who has had success with Promoted Twitter cards, and how did you do it? Below I’ve outlined our approach, please let us know what improvements we can make!
Inspire a fear of missing out in your current clients’ competitors
Our goal with Twitter cards was to use them as a highly-targeted, efficient lead generation source. Highly-targeted meaning keying on look-alikes of our successful clients. Efficient meaning acquiring these new clients for less than the revenue they bring in. Each iteration of tweet copy and targeting options focused on these two ideals. Our first twitter lead card, the tweet promoting it, and keyword targets below:
Our first campaign based on Coastal Contacts was extremely targeted towards its competitors, both in terms of copy, which highlights Coastal’s success, and keyword selection. The results were poor with no leads after spending $60. This is a niche offering, with only 10-20 companies in the online glasses and contacts space. For the next campaign, we opened it up to a broader audience — subscription eCommerce:
Again we listed successful clients, Hulu, BarkBox, and meUndies, to inspire a fear of missing out in their competitors and to validate Kiip’s performance in the subscription eCommerce space. The performance was a bit better; we were able to acquire one lead for $111. The next iteration was a balance between niche product and broad industry category. We focused specifically on travel:
This finally showed promise – four acquired leads for $92, just below our target $25 cost per lead. Unfortunately, only one lead was a business email address, who did respond to our outreach. However, the deal did not close.
We ran several other campaigns in the three categories outlined above, niche product, broad industry, and specific industry, but to no avail. I realize the sample sizes are quite small, but none of the campaign variations showed enough promise to invest more funds. The most striking metric was the 0.5% lead to click rate. After showing interest in learning more about Kiip, only 1 out of 200 users were willing to send us contact information — shockingly low compared to usual signup forms which routinely see 5-10% signup rates. Promoting content with Twitter makes sense, but does anyone have success stories with Promoted Twitter Lead Cards?