Report

Intro
Conversion

Methodology

Facebook ads

Two types of ads were run; a traffic ad, pushing people to the app and a lead generation ad pushing people to fill in a form on Facebook.
Traffic add
6 different ads:
General with focus on tax
General with focus on financial management
Cash flow
Tax
Invoicing and faster payments
Irregular income

Lead generation ad

Key numbers
CPC for different ads
Conversion rate from signup → calculate cost per signup
Likely CAC

Insights
The results from the Fa invoicing and late payment
Next steps
Invoicing a strong hook
People resonate with a lot of the value propositions

FB Ads results

Table 1
1
Campaign name
Ad Set Name
Cost per result
Results
Reach
Impressions
Amount spent (ZAR)
Result type
Quality ranking
Engagement rate ranking
Conversion rate ranking
Reporting starts
Reporting ends
New Traffic Campaign
6
Cash Flow Management
1.09
289
25161
33665
314.46
Link clicks
-
-
-
7/1/2023
7/14/2023
Invoicing & Late payments
1.1
397
36865
46985
434.99
Link clicks
-
-
-
7/1/2023
7/14/2023
Budgeting with Irregular Income
1.12
248
22233
26416
277.1
Link clicks
-
-
-
7/1/2023
7/14/2023
General - struggling
1.12
248
22036
26789
277.56
Link clicks
-
-
-
7/1/2023
7/14/2023
General - overwhelmed
1.14
207
21135
28094
235.05
Link clicks
-
-
-
7/1/2023
7/14/2023
Tax
1.15
205
21788
26321
235.39
Link clicks
-
-
-
7/1/2023
7/14/2023
1.12
Average
1774.55
Sum
New Leads Campaign
2
New Leads Ad Set - Copy
40.59
11
4064
5264
446.47
Meta Leads
-
-
-
7/1/2023
7/14/2023
New Leads Ad Set
41.97
2
928
974
83.94
Meta Leads
-
-
-
7/1/2023
7/14/2023
41.28
Average
530.41
Sum
11.16
Average
2304.96
Sum
View of Table 1
1
Campaign name
Search
Campaign name
Ad Set Name
Result type
Results
Reach
Impressions
Cost per result
Amount spent (ZAR)
Quality ranking
Engagement rate ranking
Conversion rate ranking
Reporting starts
Reporting ends
1
New Traffic Campaign
Cash Flow Management
Link clicks
289
25161
33665
1.09
314.46
-
-
-
7/1/2023
7/14/2023
2
New Traffic Campaign
Invoicing & Late payments
Link clicks
397
36865
46985
1.1
434.99
-
-
-
7/1/2023
7/14/2023
3
New Traffic Campaign
Budgeting with Irregular Income
Link clicks
248
22233
26416
1.12
277.1
-
-
-
7/1/2023
7/14/2023
4
New Traffic Campaign
General - struggling
Link clicks
248
22036
26789
1.12
277.56
-
-
-
7/1/2023
7/14/2023
5
New Traffic Campaign
General - overwhelmed
Link clicks
207
21135
28094
1.14
235.05
-
-
-
7/1/2023
7/14/2023
6
New Traffic Campaign
Tax
Link clicks
205
21788
26321
1.15
235.39
-
-
-
7/1/2023
7/14/2023
7
New Leads Campaign
New Leads Ad Set - Copy
Meta Leads
11
4064
5264
40.59
446.47
-
-
-
7/1/2023
7/14/2023
8
New Leads Campaign
New Leads Ad Set
Meta Leads
2
928
974
41.97
83.94
-
-
-
7/1/2023
7/14/2023
There are no rows in this table
8
Count
89.26
Sum

FB Ads
0
adset_name
campaign_name
cpc
clicks
cpm
cpp
ctr
impressions
reach
spend
1
Budgeting with Irregular Income
New Traffic Campaign
0.7
134
9.92
11.08
0.01
9444
8452
93.69
2
Cash Flow Management
New Traffic Campaign
0.64
144
8.7
11.36
0.01
10617
8125
92.32
3
General - overwhelmed
New Traffic Campaign
0.66
141
8.31
10.18
0.01
11214
9158
93.22
4
General - struggling
New Traffic Campaign
0.62
151
10.11
11.34
0.02
9253
8252
93.59
5
Invoicing & Late payments
New Traffic Campaign
0.66
148
9.08
10.83
0.01
10779
9039
97.89
6
New Leads Ad Set
New Leads Campaign
5.22
2
65.66
65.66
0.01
159
159
10.44
7
New Leads Ad Set - Copy
New Leads Campaign
3.15
58
74.35
84.68
0.02
2459
2159
182.82
8
Tax
New Traffic Campaign
0.6
156
8.94
10.28
0.01
10407
9048
93.04
There are no rows in this table
I am writing a report to a client who is an insurance corporate in South Africa. I am an agency who builds ventures and validates ideas. They have hired me to build the MVP of a financial app for freelancers or self employed people and test if people would use it. Their end goal is to sell insurance to the app users but they know that self-employed/freelance people are not eager to spend money insurance and thus are hard to acquire as customers.
Their strategy is: Rather than trying to sell insurance to them first, bring them in to download and use the app by solving one of their problems that they regard as a problem and actively want to solve. Doing this enables the client to get users on the app and cross-sell insurance to them.
One of the onboarding to insurance strategies we have implemented is: For the paid tiers (R299 and R599 per month), we contribute 90% of that license fee to a retirement annuity for them. This means we kickstart the insurance and retirement saving for them without them having to do anything about it!
We needed to test which problem or value proposition that freelancers face and that we can solve in an app will most appeal to this audience. We chose the following value proposition categories: 1. General with focus on tax 2. General with focus on financial management 3. Cash flow 4. Tax 5. Invoicing and faster payments 6. Irregular income
We set out to validate if any of them would appeal enough to convert people to signup and if they would be feasible to use customer acquisition methods. We did a few things to test this: 1. Ran Traffic Facebook ads with each of the 6 value propositions. We did 2 versions of this; 2 version - we directed people to the app signup page (app.gigant.co.za) and the other version - to the home page of the website (gigant.co.za). There were 12 ad sets in total 2. Ran Lead campaign ads that asked people to fill out a form in Facebook (name, email and job title) 3. Ran a qualified test in WhatsApp to an audience of research users to offer them the opportunity to signup to the recently app. We also asked for 1 sentence of feedback from them if they signed up.
We did this all in a 2 week period (ads, website, app, WhatsApp test) and therefore the app and website are never going to be perfect or final to attract people to really signup and use the app. Thus, although we had the app and website and wanted to get people to signup - the bigger goal was to test if people resonated with any of the value propositions and which one. I.e. what could a likely CAC be, how well would this work as an acquisition channel etc.
Some more context on the facebook traffic ads: We started running the 6 ads directing people directly to the app signup page. We had great or low CPC results but found that very few of the people who got to the signup page actually signed up. We realised that a lot of people had clicked the ad link to learn more about the offering but were taken straight to signup. They could navigate to the website home page by clicking on the logo in the app signup but that wasn't very clear and so none of them did. As a result, we think many of them did not get their questions about the app answered and didnt want to signup. So, we duplicated the ad sets and directed them to the website instead, hoping that this would yield a higher website conversion rate
More context on the lead campaign ads:
We
- We only targeted mobile devices because the product is a mobile app
I want you to write the report for me based on the above in the following outline: - Intro - 4-8 sentence
The venture is called GigAnt, here is a description: GigAnt is a comprehensive platform that empowers freelancers and self-employed individuals with robust financial management tools, including tax calculations, invoicing and automatic follow-ups, insurance recommendations, retirement planning, budgeting, and community support, all tailored to their unique needs. With seamless integration to TaxTim and user-friendly features, GigAnt simplifies and automates the financial aspects of freelancing, enabling users to focus on what they do best while achieving financial success.

WhatsApp

"The app appears to be a promising solution for freelancers, offering a comprehensive set of features and community support tailored to their unique financial needs."
"I like the part where you can follow up on unpaid invoices and the setting of goals."
"It helps with budgeting, securing finance, and promotes financial goals. It also helps one connect with like-minded people, businesses, and advice."
"The app is very helpful in specific areas and is simple to use."
"The app is easy to use and navigate. It allows you to set goals and manage your savings."
"It's a good app that helps you know how to manage my finances and also how to budget."
"The app was very useful; now I know exactly how long I have until I finish saving for my vacation."
"It's easy to use and makes everything so simple for me, helping me calculate my budget."
"The app is a great financial management tool with a user-friendly interface."
"It's informative, explains everything in detail, and teaches a lot about hustling and connecting with relevant people."
Top WhatsApp feedback
0
Name
Negative Feedback
1
"The app appears to be a promising solution for freelancers, offering a comprehensive set of features and community support tailored to their unique financial needs."
The app was bad; couldn't get to understand how to use it... doesn't elaborate.
2
"I like the part where you can follow up on unpaid invoices and the setting of goals."
I don't understand anything yet it does look easy to navigate.
3
"It helps with budgeting, securing finance, and promotes financial goals. It also helps one connect with like-minded people, businesses, and advice."
The application can be somewhat perplexing, lacking clarity regarding its specific requirements and overall usefulness.
4
"The app is very helpful in specific areas and is simple to use."
The app is a little confusing. It seems a little bit disorganized. Maybe reconsider the layout.
5
"The app is easy to use and navigate. It allows you to set goals and manage your savings."
It was good, but I couldn't really understand it that much. Good experience though.
6
"It's a good app that helps you know how to manage my finances and also how to budget."
I just signed up and logged out, but it's good.
7
"The app was very useful; now I know exactly how long I have until I finish saving for my vacation."
The app can be somewhat perplexing, lacking clarity, and needing more explanations.
8
"It's easy to use and makes everything so simple for me, helping me calculate my budget."
9
"The app is a great financial management tool with a user-friendly interface."
10
"It's informative, explains everything in detail, and teaches a lot about hustling and connecting with relevant people."
There are no rows in this table

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