How we created and executed a paid media strategy that grew active subscribers by 272% in three months.
Acres is a one-stop fintech platform for land data on 150+ million U.S. properties. It’s available on the web and as a mobile app, providing reliable information for landowners and sales. It combines data on vegetation, soil, elevation, and market factors to give a complete picture of farmland value. Users can use it to compare land, check recent sales, and make smart decisions about investing in farmland.
Data & Analytics
Media Strategy & Management
272%Increase in Active Monthly Subscriptions
45%Increase in Premium Subscriber Growth in Month 1
31%Increase in Lead to Premium Subscriber CVR in Three Months
TL;DR: From July to October 2023, we created and implemented a performance-focused paid media strategy with a comprehensive measurement framework. Our goal was to pinpoint the most effective tactics for efficiently boosting sign-ups and subscription growth. To achieve this, we redirected funds from strategies that had a low cost-per-signup but were not contributing to revenue and channeled these resources into acquiring higher-quality sign-ups. As a result of these changes, we saw a 272% increase in active monthly subscriptions in three months.
Acres, like many forward-thinking scaleups, had ambitious conversion goals and a pressing need to fine-tune their user flow and media strategy to achieve the most efficient growth possible. They were facing two significant challenges:
Let’s dive into the first challenge:
When Acres began collaborating with our team, they were utilizing two primary user flows:
Sending users to the mobile app generated a high volume of traffic but resulted in very few conversions. On the other hand, directing users to the web was costlier, even though it had a much better conversion rate than the mobile app.
Apart from defining the right user flow, Acres also needed to gain a comprehensive understanding of conversion rates at each stage of the funnel. This involved consolidating data from various sources, including GA4, Appsflyer, Ad Platforms, and Hubspot. App tracking can be notoriously tricky, but obtaining a clear overview of performance at every funnel stage is vital for making informed decisions about budget allocation and resource management.
We started by conducting a thorough analysis of the two primary user flows to gauge their revenue potential. What quickly became evident was that a significant portion of the media budget was funneled into driving users to the mobile app. While this approach did result in a surge of installs and sign-ups, it didn’t translate into paying subscribers or substantial revenue for our brand.
In response to this insight, we devised a fresh media strategy centered around two crucial components:
As we rolled out the revamped media plan, we closely collaborated with the Acres development team. Together, we established a centralized reporting hub, leveraging HubSpot dashboards through Segment data. This measurement approach allowed us to track both app and web sign-ups and the revenue stemming from premium and enterprise subscriptions. Instead of relying on aggregated platform data for attribution insights, we created a dependable source of truth that guided our optimization efforts.
We started by conducting a thorough analysis of the two primary user flows to gauge their revenue potential. What quickly became evident was that a significant portion of the media budget was funneled into driving users to the mobile app. While this approach did result in a surge of installs and sign-ups, it didn’t translate into paying subscribers or substantial revenue for our brand.
In response to this insight, we devised a fresh media strategy centered around two crucial components:
As we rolled out the revamped media plan, we closely collaborated with the Acres development team. Together, we established a centralized reporting hub, leveraging HubSpot dashboards through Segment data. This measurement approach allowed us to track both app and web sign-ups and the revenue stemming from premium and enterprise subscriptions. Instead of relying on aggregated platform data for attribution insights, we created a dependable source of truth that guided our optimization efforts.
After four months of testing, here’s what we found ↓
We boosted our conversion rate by 31% from sign-ups to paid subscribers by identifying the highest-performing user flow and selecting the optimal channel mix. Today, we’ve reduced our cost per acquisition by 28% while growing our subscriber base by 17%.
Our paid media strategies, precise reporting, and continuous refinement have directly increased conversions and expanded the brand’s customer base.
Picking the right metric for success is crucial for growth: You might see big numbers in things like app installs or free sign-ups, but what really matters is turning those into paying customers and growing your customer base. Our strategy combines building interest and leads at the top of the funnel, ensuring those turn into actual sales. This dual focus not only increased brand awareness but also boosted revenue.
Data creates feedback loops that are essential for effective strategy: When you have a single, reliable source of truth through a centralized data system, it’s like having a radar that can quickly pinpoint where we’re doing well and where we need improvement. This allows us to swiftly expand successful efforts and eliminate wasted spend.
A holistic approach to growth compounds results: By having specific, well-defined goals and objectives for each campaign type that’s in-flight (awareness, performance, etc.), we can quickly identify areas within our funnel that need improvement or are ready to scale.
Your compounding growth curve begins here.
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