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EM-PCID (performance log)

Rohit Agarwal

Overall Summary

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Current run snapshot

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23-11 was the only run that performed well in terms of Revenue and CM (Gross $34K). This was on the back of an affiliate working well, driving ~50% paid apps that run. The same partner isn’t able to currently drive more lead volume for us.

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The affiliate also had a rub-off effect on primary channels like SEM Non-Brand, pushing the L2PA up to 6.5% in the 23-11 run, vs the avg. 1.5% - 2.5% for this program.

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Challenges

Conversion rates - Average L2PA for the program is ~1.5% (ex 23-11 run), vs bootcamp avg of 3.4%. Pay % is 13% vs bootcamp avg of 26%.

SEM NonBrand - The program ARPU is less compared to our other Bootcamps, but CPLs for SEM trend at the similar level of ~$150, driving the channel CAC high (176% vs BC avg. of 80%)

SEM Brand - The search volume is very low. We only have 17 leads from Brand searches in the 3 runs combined.

Social - We tested social in 23-06, spending ~$13K generating 136 leads at a $98 CPL - which is almost 2x of Bootcamp level average CPL. L2A was poor here at 2.2% and we saw no paid app conversions.

Non Paid channels - Lead volume is very less. Pay % is also very weak at just ~10% for non-paid channels.

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High Withdrawal Rate - The program is currently seeing a 30% withdrawal rate.

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Summary (1st and 2nd run)

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Between the 1st and 2nd run, we see - 122% increase in gross revenue - Gross CM moving from negative to a healthy positive territory (+$35K). (To be noted that the 1st run started with a higher program price which was later revised down to the current $3,500)

What is working?

SEM

SEM has been the best performing channel for us on the paid front. - Delivered 57% (8/14) of the overall paid apps in the 1st run - 40% (10/25) in the 2nd run. - Moved from -$15K to +$8K gross CM

To maximize performance we have directed spends only on high quality, high intent exact and phrase match keywords.

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Affiliate

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We saw very good traction from an affiliate channel (impact) in the 2nd run of the program.

Being a low ARPU, niche program, this makes a case for concentrating efforts on identifying similar medium for lead generation and moving away from the traditional, high CAC performance marketing channels like social/discovery/linkedin.

What has not worked, yet!

Google Discovery

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Although we see an average L2A conversion rate here (~7%), the CPLs are on the higher side (considering the low ARPU of the program)

We need to generate more leads before taking a conclusive call here on the channel efficacy.

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Status as on 8 June’23

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We are at 6 paid apps @252% CAC;

Paid App Profiles:

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We have gotten 4 PAs from Google non-brand, 1 each from direct and organic

SEM NonBrand: ~9k additional spend, CPL reduction from $175 to $160

Social and other paid remain paused

Geo Expansion: We started targeting select non-US regions on google search given the significant price reduction in the program. We have gotten 1 PA from this campaign (from Canada) at 115% CAC.

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Below is the list of regions currently being targeted:

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Status as on 17 May’23

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The program is seeing a poor mid/bottom funnel conversion rate

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No traction seen on either paid/non-paid channels

Facebook - Targeting and Performance

Audience 1 - Interest

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Audience 2 - Education Industry

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Audience 3 - Job Titles

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Ad previews

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Campaign level performance

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There are marginal differences (in leading metrics) between the 3 audiences targeted. But none has shown any tangible traction through mid-bottom funnel.

Google Ad previews

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Targeting and Performance

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Poor L2A is seen on SEM (high intent keywords) - Currently trending at 5.3% vs Bootcamp category average of 13.22%

Optimizations

1.Introduction of image extensions in ads

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Initial results

CTR improvement observed from 4.42% to 4.84%

CPL drop from $149 to $112

2. Introduction of dynamic keywords

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3.Expansion into non-US geographies Currently being tested in the following regions - Canada, UK, Philippines, Nigeria, Mexico, Demark, Israel, India (Bengaluru and Pune) Initial Results