Plaata - Case Study - Growth Hackers

Plaata CASE STUDY

ACHIEVED 4 ROAS AND 20% DROP IN BOUNCE RATE

INTRODUCTION

ABOUT

Plaata is a US based company that aims at providing financial education to everyone in the US, especially the hispanic and the minority communities who usually refrain from proactively seeking financial knowledge, due to lack of available resources specifically catering to their community. Plaata is a team of financial experts who belong to the Spanish community, with a mission to help people make good financial decisions and quickly find the products best suited for them

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CHALLENGE

Our challenge was to launch the website and get relevant traffic to visit their English and Spanish blog pages organically.

GOAL

As a lot of surveys and statistics suggest, the minority communities in the US are not financially savvy and usually take advice from their friends or close relatives before taking any financial decision. This is where Plaata wanted to bridge the gap.

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EXECUTION STRATEGY

You must be wondering that this is pretty straightforward. You set the target audience as “Small Business Owners” on Facebook and bam! You get all the right leads. But no. Our case was slightly different. We were promoting a service that was related to “credit/loan offering” which, according to Facebook, needs to be declared as a Special Campaign.

And Special Campaigns on Facebook do not allow almost 70 percent of the targeting options that a normal campaign would! The only targeting that was available was Interest based targeting where we could pick closely relevant interests to hit the potential applicants.

This was where our Ad creatives took the wheels. Our strategy was to create different types of ads that would entice the right people into clicking through and hence submitting the application. We extensively A/B tested between illustrations and stock image ads with simple, straightforward messaging and a clear Call to Action. We segregated the campaigns for Instagram and Facebook with separate budget allocation and closely monitored the sessions and bounce rate for each campaign on Google Analytics.

We also scaled the campaigns during the weekends and cooled them off in the peak weekdays, as the small business owners would usually prefer taking the action during the weekends when they are free.

All this together led to a significant increase in the number of Applications, leading to a profit margin of at least 4X even with limited targeting options at hand!

Within 3 months of starting, we increased the traffic to 10x and were able to achieve a sustainable growth of 100% month on month.