Accounting software company Xero selected Hybrid Theory to find new customers by using smart targeting strategies and serving personalised ads which incorporated social proof as a messaging tactic.
Hybrid Theory smashes CPA targets for Xero by 300%
This achieved a CPA of £19 against a £60 target – 3 times better.
Xero is a leading New Zealand based software company developing cloud-based accounting solutions for small and medium-sized businesses. They wanted to expand their audience and increase market share by driving more people to sign up for a free trial of their accounting software on the Xero website. In order to do so, Xero partnered with Hybrid Theory to gain a thorough understanding of their audience which was required in order for them to find more people working in small and medium sized businesses who require their software.
By placing tracking code on Xero’s site, and analysing the depth of browse, search and share data, Hybrid Theory got a full understanding of the Xero audience in order to target only new customers who were highly relevant. We unearthed insights such as:
- Business operations and accounting content, with book-keeping and contracter networks were unsurprisingly strong indicators of a highly relevant individual.
- Some of the most distinctive URLS were focused around childcare vouchers, maintenance suppliers and DIY articles suggesting this audience are likely to be providing HR support for their employees, and running small businesses in construction or interior design.
- Online gambling, golf and cricket were also popular suggesting a male dominated audience. Hybrid Theory also found the optimum days were Monday and Tuesday, and the best time for conversions was between 10am and 4pm.
These and many other relevant insights allowed us to find and deliver engaged audiences in quality environments. High impact formats were used and further enthusiasm was driven by including social proof from real time data to encourage higher conversion rates.
Through smart targeting strategies and creative personalised in real time, Hybrid Theory achieved a £19 CPA against a target of £60 CPA: 3 x better than anticipated.
against a target of £60 CPA