What combines intensive primary and secondary research with a creative strategic execution? That would be A/B testing on Facebook Ad Manager, one of my favorite social strategies to date.
One of my favorite paid ad campaigns was for the Center for Innovation and Entrepreneurship (CIE). A large coworking space available to rent out is one of the most important revenue streams at the CIE. It is more than $200 per month to rent desk space in the coworking space. We needed more signups, so that’s where I came in.
Rather than using creatives that looked straight out of a newspaper ad stating pricing, square footage and other tangible qualities, I used creatives and copy that highlighted the less tangible benefits to coworking with the CIE. I created the tagline, “Do what you love. Love where you do it.” and directed two videos featuring our cowokers explaining why they love their job and how coworking with the CIE helps them accomplish that job. Since this was an A/B test, we tested one video featuring a woman coworker and one featuring a male coworker against each other with the same geographic and demographic targeting.
With a budget of only $150 for the entire test, I ran the ad for four days. Within the four days, our cost per click averaged $1.06 and we saw 15 new applicants (worth $200 per applicant per month). Given each new applicant passes the vetting process and follows through for only one month, although many often rent long term, this campaign received a return on investment of $2,850. Needless to say, we were pretty happy with those stats.