ACV Auctions Case Study:
Company Profile
ACV Auctions is an online auction platform that provides dealerships with an effortless buy-and-sell B2B marketplace.
The Challenges
With the automotive supply chain continuing to struggle due to the COVID-19 pandemic, ACV Auctions was in an ideal position to help dealerships fulfill heightened inventory demands. However, they faced two significant challenges: finding highly qualified leads that were car dealers (not consumers) and stiff competition from bigger and better-known companies in the automotive remarketing industry.
Services We Provided
What Socium Identified:
#1
Several campaigns needed
an overall restructure
#2
Keywords weren’t mapping correctly and required immediate attention
Our Strategic Approach
Overhauled Google and Bing Campaigns
Θ Campaigns only utilized Phrase and Exact match types, so we launched new Non-Brand campaigns with ‘Broad’ match types. In addition, we also launched new Brand campaigns on Exact and Phrase match types.
Θ We updated Non-Brand campaigns to utilize smart bidding/tCPA (target cost per acquisition) instead of manual/CPC to maximize efficiencies.
Θ We expanded RSA (responsive search ad) and competitor campaign coverage.
Θ All existing ad copy was updated to include keywords from associated ad groups.
Made structural changes to Display & Youtube campaigns
Θ To clean up audience ad groups, we ensured that audience mapping was configured correctly (including negating audiences in other ad groups when necessary) and updated audience targeting.
Realigned the keyword mapping strategy
Θ Once we identified the duplicate queries, we added appropriate negative keywords to ensure they’d map to the correct location.
Launched landing page & ad creative tests
Θ In addition to the landing page tests, we ran creative tests for display ads.
The Results QoQ:
+300%
Increase in
Total Leads
-66%
Below
Cost Per Lead
Goal
Future Plans
Following the success of the account restructure, we’ve been working with ACV Auctions on testing new tactics to expand their reach. In addition, we’re testing within the restructured campaigns to gain incremental efficiencies.
Socium Media is an extension of our SEM team. We’ve worked with them for almost a year and in that time they’ve restructured our Google Ads account to optimize for performance. Since working with them, they have done a tremendous job reducing our CPL by 83% all while increasing the number of qualified leads.
— Jake Renner, Senior Director, Growth Marketing
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