New Paid Media Strategy Cuts Conversion Costs
-
Paid Media
New Paid Media Strategy Cuts Conversion Costs
Significant decrease in CAC by leveraging key strategies including automated location targeting and value-based bidding.
Vector Marketing is a direct selling subsidiary company and the domestic sales arm of CUTCO Corporation, a high-quality cutlery manufacturer. Over 15 million people use CUTCO in their kitchens daily.
Recently, Vector required a new paid media partner that was responsive and willing to work with the company to reach its goals of reducing conversion costs. As long-time partners, Vector and Cro Metrics expanded into paid media based on the success of previous conversion rate optimization work.
decrease in recruitment costs
You’re willing to understand our business before just tossing ‘best practices’ into the mix. I’ve never felt stupid for asking questions and appreciate how transparent you are about what you’re doing, why you’re doing it, and what is and isn’t working. I feel like you’re genuinely working to get us better results, not just trying to find ways for us to spend more money.
– Jennifer Allen, National Manager of Digital Testing and Analytics, Vector Marketing (Company of Cutco Corporation)
The Challenge
Sourcing new job applicants is critical for Vector Marketing’s success. However, at the beginning of this project, conversion costs for sourcing had drastically increased due to issues out of the company’s control.
Recruitment costs were already higher before COVID-19 took hold in 2019. However, as the pandemic intensified, so did the volatility and unpredictability of recruitment costs across all industries. The same was true for Vector, a company that thrives on consistent team growth.
In addition to increasing costs, Vector’s previous agency had made several big mistakes and failed to rectify them quickly. And unfortunately, the account manager seemed unaware of previous conversations and decisions made by their predecessor.
All of this combined to become the perfect storm, limiting the number of new applicants and employees Vector was able to recruit. As a result, the company was struggling to fill its sales pipelines and meet its growth goals.
The Solution
Cro Metrics partnered with Vector Marketing to overhaul the company’s existing paid media strategy. We started by performing an extensive audit, providing recommendations, and restructuring the strategy during the first month.
In the months to follow, we deployed best-in-class analytics, automated bidding, and ad strategies. Other accomplishments included:
- Reorganization of the account based on top-performing ads
- Development of an in-depth plan to track downstream conversions and conversion value
- Implementation of a new locations automation script to make 44,000 ad changes each month to support dynamic sales pipeline demand at the different sales offices throughout the nation
- Implementation of value-based bidding using conversion value from each conversion in the business cycle
Results
As a result of our partnership, Vector Marketing experienced a 13% decrease in cost per recruit when comparing costs from 2018-2019 and 2021-2022, which allows them to continue to rely on paid media as one of its key recruiting channels.
While this decrease is a clear result of the paid media overhaul, Vector also contributes the success to our focus on partnering with our clients instead of simply treating them as revenue generators.
Throughout our relationship with Vector Marketing, we remained open and honest, always willing to answer the team’s questions. We were also transparent, consistently sharing the “why” behind each step we took.
Just like in any other project we take on, we made sure each move we made was right for Vector and how the company conducts business. After all, there isn’t a one-size-fits-all approach to paid media strategy—all businesses are unique.
Platforms and Tools:
- Google Ads Bulk Actions Scripts
- Offline Conversions
- Google Analytics Important Conversions
Ready to transform your paid media strategy?
