Opascope Improved an Online Marketplace’s CAC by 79.7%

79.7%

Decrease in Cost Per Signup

127%

Increase in New Users

67.6%

Decrease in Overall CPM

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Summary

A subscription-based platform was the first of its kind to connect creative talent in a particular niche to people and businesses who needed it. But being the first in a market has its challenges.

After talking to several agencies that couldn’t offer a viable solution about how to reduce the company’s high customer acquisition cost, the founder reached out to Opascope.

“Opascope is like a train that’s taking us on the path forward in what’s possible to achieve inside of paid advertising and analytics. They brought on value that wasn’t on my radar. They completely owned our metrics, analytics, and insight. They’ve just owned all that from the moment we started working together. That’s just been incredible, and they have been such a joy to work with.”

Martin

Founder

The Problem

1. A Brand New Niche Meant No Obvious Customer Acquisition Strategy

The niche was new, and there wasn’t an established category or an obvious strategy for acquiring new customers at a healty CAC.

The company was spending hundreds of dollars to acquire a single customer using a standard paid social marketing strategy. Every extra dollar spent acquiring a new customer meant that the startup had less ammunition for growing the company.

2. Other Agencies Proposed More Spend Instead of a Sustainable Solution

According to Martin, the founder, one of the most frustrating things about this situation was finding an agency that seemed up to the task.

Most of the agencies he talked to called for increasing spend which isn’t a solution, it’s something you do when performance is high and you want to step on the gas. But in the case of the marketplace, performance wasn’t high, so agencies were asking the company to spend more money on an approach that simply wasn’t working.

That’s when he turned to Opascope.

The Solution

1. Fixing Flawed Metrics

One of the first things Opascope discovered was that the company’s analytics insights were seriously flawed. Those bad insights were resulting in bad decisions. The analytics stack needed to be fully rebuilt to allow for accurate tracking and insights.

By working with the clients engineering team we were able to support them in fully revamping analytics which ultimately allowed for the tracking precision needed.

2. More Targeted Audiences

Opascope found that when the right audience was exposed to the company’s service, paid social marketing performed far better than expected. The magic was in finding the right audience, which involved testing and rapid iteration.

We tested a wide variety of ideas, quickly iterating and improving on those that performed well. As a result, we found a paid social strategy that worked without needing to drastically increase the company’s marketing budget.

“We stopped doing what wasn’t working,” Martin explained. “Opascope really empowered us to double down on the things that increased the effectiveness and efficiency of our marketing.”

The Results

Within a matter of weeks, the marketplace’s customer acquisition cost (CAC) was rapidly improving, while the number of new signups improved daily.

Within a single month, Opascope completely transformed the company’s performance.

79.7% Decrease in Cost Per Signup
127% Increase in New Users
6% Decrease in Overall CPM

“These guys know what they’re doing. I’m not saying that lightly, either. Opascope delivered results that were beyond all of my expectations,” Martin said.