Project Overview
A household name in the musical world, this company is known for making world-class viola, cello, bass and violin bows used by everyone from amateurs and hobbyists to students and professional musicians. The company introduced the carbon fiber bow to the market in 1958, and up to this day, its products can be found on almost every major stage and performance venue in more than 100 countries across the globe.
The brand partnered with Thrive Internet Marketing Agency to run a social media paid advertising campaign focused on building brand awareness and improving website traffic and conversions. Since taking over the company’s social advertising strategy in September 2020, our digital marketing agency has generated 3,339 landing page views, 65 purchases and a whopping $19,222.35 or 86.4 percent increase in purchase conversion value.
The Highlights
The company began social advertising in July 2020 and had a return on ad spend (ROAS) of only $1.64. Through Thrive’s social advertising efforts, we were able to boost the client’s ROAS to $4.93 – a nearly 5X return on ad spend!
Overall, our paid social strategy has helped the company maintain increased campaign performance month-over-month (MoM):
Total Reach
Impressions
Adds to Cart
Checkouts Initiated
Website Purchases
To streamline the conversion process, Thrive’s paid social team also launched retargeting efforts during the holiday season. With an average cost per purchase (CPC) of $60, we generated an average purchase conversion value of $295.72.
Thrive’s social media advertising efforts contributed to some of the client’s highest months of return from digital marketing.
Executing the Strategy
THE CHALLENGE
Since the client caters to an extremely niche market, its consumers’ path to purchase can be slightly longer. The smaller market makes achieving revenue growth more difficult because there is no large customer demand. Furthermore, interest-based targeting is not very detailed for this industry. This means not everyone that indicated an interest in playing string instruments on their social media platforms falls right into the client’s target customer segments.
Besides the challenges of niche marketing, the brand also did not have a full-funnel marketing strategy when it reached out to Thrive. Beyond question, an advertising strategy with no clear direction on how to market to customers at each stage of the sales journey is not suitable for increasing sales volume and long-term client acquisition. This could result in a poor audience targeting strategy, more abandoned carts and, ultimately, low sales volume – the telltale signs of wasted ad spend and advertising efforts.
THE SOLUTION
Thrive’s social media paid advertising strategy revolved around establishing brand recognition and driving targeted leads and traffic to the client’s website.
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Social Media AuditTo allow us to utilize each social media channel more strategically, our paid social team audited the company’s existing paid social efforts. Using data from the audit reports, we developed and launched a full-funnel ad strategy centered on increasing post engagement, traffic and ad conversions.
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Strategy Development and ImplementationInitially, we focused on optimizing the client’s audience targeting strategy, weeding out audiences that didn’t convert. Our social media advertising experts tested a few different audience funnels before finding what worked best.
Once we’d adjusted our targeting methods, the next goal was to implement different creatives and ad formats. Our social team performed A/B testing to see which variations would generate the highest impressions, engagement and return.
From there, we scaled the best-performing creatives and copy to increase conversions and promote the brand through the holiday. Results of the A/B tests proved the client’s video assets to be a great way to attract potential niche customers at a high level and then work them through the ad funnel.
Through our paid social campaign, we were able to establish a strong baseline performance on the client’s first year of running paid social ads during the holidays. Retargeting has also worked well for this client.
Thrive’s ongoing social media paid advertising efforts involve test advertising in strategic international markets to cater to a broader audience scope.
