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Date: June 2021
Imani Advantage, a Marketing Operations consultancy, enables small businesses to enhance their growth through strategic lead generation, nurturing, automation, and consulting. An initiative was launched with a New York-based Home Security Systems company that sought to promote its elite $59.99/month package through Facebook Advertising. Imani Advantage was tasked with providing robust consulting support to facilitate the company's first-ever Lead Generation Campaign via Facebook Advertising.
The security company, new to advertising, faced several challenges:
Lack of experience with Facebook Advertising campaigns.
Absence of a Facebook pixel on their website.
Absence of Google Analytics tags on their website.
Unclaimed Google Business profile.
Need for guidance on creating and analyzing advertising performance metrics.
Even though this was more of a DIY project, Imani Advantage showcased its expansive capabilities by addressing these challenges head-on:
Facebook Pixel and Google Analytics: Consulting support was given on adding Facebook Pixel and Google Analytics tags to their website. The process was demonstrated via Zoom to foster understanding of technical requirements.
Google Business Profile: The company was helped in claiming and optimizing its Google Business profile. Five posts were scheduled at five-day intervals, aligning with the ad campaign, and emphasis laid on maintaining this practice for enhanced local search visibility.
Facebook Advertising: The company was educated on different Facebook advertising campaign objectives (reach, traffic, lead generation, conversions, etc.). For quicker campaign launch, the lead generation objective was chosen by the founder, and more qualifying data were added to the lead form to ensure high-quality leads.
Data Analytics Dashboard: A comprehensive dashboard was created, providing insights into the Facebook Advertising campaign.
Customer Lifetime Value (CLV): CLV calculation was advised, using industry standards of 3 and 5 years - the CLV for a 5-year projection was $3,599, and for a 3-year projection, $2,159. Using current customer data was limited as the company was only founded a year prior so the two projections were to give a range below industry standard and at standard.
After about 35 days of advertising, the company gained significant traction:
Generated 61 leads at $13.68 per lead, spending about $834.12 on Facebook Ads.
Reached 54.2k people in their service area.
From a follow-up conversation - 17 leads were closed at the $59.99/month plan and 2 closed at the $34.99/month plan. Generating new revenue of $1089.81/month.
The 3-year CLV is projected at $39,233.16, while the 5-year CLV projection is $65,388.60.
The Business owner is confident that they could run campaigns in the future with the education provided.
This project shed light on two crucial aspects:
The need for Imani Advantage's involvement in the sales process to track metrics like close rate, response rate/time, and initial revenue earned.
The importance of balancing customer acquisition and retention, which was underscored by the significant CLV values realized over 3 and 5 years.
This case study underscores that while generating leads is crucial, converting them into long-term customers is the real measure of success. It's a testament to Imani Advantage's commitment to not just delivering leads, but fostering enduring customer relationships.
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Imani Advantage is a Marketing Operations consultancy that empowers small biz growth through lead gen, nurturing, automation & Strategic consulting. Our customer-first approach simplifies marketing complexities.