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Cost Per Trade
Ziffit is a proud member of the World of Books Group, which also includes WoB. It is a 100% circular economy providing an easy way for consumers to trade in old books, CDs, DVDs, and games. Once books and media are bought and processed, items can be resold through WoB and other platforms, donated to brilliant causes, or responsibly recycled. There are two ways to sell stuff to Ziffit: by inputting items’ barcodes in the desktop site or by scanning the barcodes through their free app.
Seed first started working on Ziffit in 2017, particularly for their PPC campaigns. In May 2021, we launched their paid social campaigns with the objective of increasing trades while maintaining healthy cost per trade.
We launched the paid social campaigns with the sole objective of getting conversions. Within the first two weeks, data showed that audiences were either installing the app or making a trade. The discrepancy between the installers and traders was too big, implying that one doesn’t necessarily lead to another, at least not within the same time frame. This resulted in below-target performance.
After analysing the initial results of the paid social campaigns and identifying audience behaviour, we updated our strategy to include app install campaigns. This new set of campaigns would target audiences who were still in the awareness part of the consumer journey. Meanwhile, we’d still have conversion campaigns that are meant to drive trades, but it would now be specific to people who have just installed or already have the app installed.
This meant that our ad creatives also had to match the new dual-objective strategy. Our in-house creative team (copywriting and design) put together ads that had different messages, depending on whether we’re trying to get the audience to install or trade. We used photos, videos, statistics, testimonials, and tried many other creative approaches as part of our testing and optimisation process.
Within the first month of implementing this dual-objective paid social strategy, we saw a 20% improvement in cost per trade. Within the second month, cost per trade improved by another 25%.
Between the first and second quarter performance of the newly launched paid social campaigns, trade volume increased by 100% and cost per trade improved by 35%, all the while scaling the budget up by 35%.
The strategy also allowed us to differentiate between target cost per trade and cost per install. This meant having better control over our spending and technical optimisations. Install volume increased steadily throughout the months: by 15% from first to second quarter, and by 180% from second to third.
We are specialists. We don’t try to be everything to everyone. Instead, we focus on delivering our core specialties where we can have the biggest impact.
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