DIGITAL PRODUCT LAUNCH
Hive is a global community for leaders and entrepreneurs committed to personal growth, achieving their dreams, and creating a better world.
DURING THE FORMATIVE YEARS OF THE ORGANIZATION...
Hive was focused around community-building through live events and leadership trainings hosted around the world. While these gatherings proved to be highly transformational, the seasonality and scalability challenges of an in-person, event-based business model inspired a pivot towards a recurring revenue, online membership model.
This realization birthed the Hive Global Leadership Community (GLC), which is an online community that provides ongoing support, connection, guidance, and resources for a worldwide network of game-changing CEOs and leaders.
Launching a new offering and building a membership base from scratch requires what we call a "Unified Front" strategy, which involves launching campaigns with synchronistic timing and complementary messaging across every key marketing channel.
The value of any community lies in its members. That's why, in order to provide enough value to satisfy and retain the flagship membership base, we chose to launch fast and aggressively, yet methodically, to build a critical mass of enrollment and engagement within the network.
The goal was to acquire new members via Facebook, Instagram, and Google at a Customer Acquisition Cost (CAC) of $250 or less within the first 90 days, which would equate to a Return on Ad Spend (ROAS) of 200%.
On Facebook, we started targeting warm Custom Audiences such as customers, event attendees, email subscribers, and page followers, to name a few.
We also ran Lookalike Audiences based on pixel events, like page views and add-to-carts, within various time windows, such as 3, 10, and 30 days. To drive more traffic at the Top of Funnel, we added in a couple dozen cold, contextual audiences as well, based on entrepreneurship and leadership interests.
We mirrored this strategy
…across Google's Display Network by building retargeting campaigns to nurture traffic down-funnel with a diverse set of value propositions. Google remarketing is generally a high-ROI technique because it allows you to stay connected with your target audience, even after they leave your site.
In order to maintain long-term stability at scale, you can't just "set it and forget it." Facebook's algorithm shifts consistently, which means that ad sets that performed well historically may burn out at any moment.
This is why it's crucial to scale "horizontally", spreading testing across multiple ad sets, audiences, and types of creative.
By diversifying your advertising portfolio, you're mitigating the risk of audience fatigue (overfrequency), audience overlap, and Facebook code pushes.
Our campaigns stretched across both developed and emerging markets (100+ countries), which comes with a trade off.
For example, it's 33% to 2,500% more expensive to advertise in North America than Africa.
That means, with the budget remaining constant, you can reach up to 25x more people in Kenya than in the United States. Despite seeing a lower CPM and a lower cost per acquisition in Kenya, Americans proved to be "better" customers in the sense that their retention rate is higher, due to their higher spending power.
Now that we've broken down our approach, let's take a look at some examples of the creatives we produced, and most importantly, the results of the campaign.
Do You Know Your Purpose?
Awaken your inner sleeping giant and move mountains of global change. Join the Hive network of 2,500+ purpose-driven leaders from 125 countries.
Let Your Purpose Drive You
Discover your purpose and live powerfully. Apply to join the tribe of global changemakers at Hive and start living your unique purpose.
RETURN ON AD SPEND
CUSTOMER ACQUISITION COST (FOR $500 MEMBERSHIP)
We achieved a CAC $127 lower than our goal of $250. Now, Hive has a profitable foundation for growth and we're scaling vertically (increasing ad investment) month over month.
Ready For Magic?
Marketing is growth. It's how we create more of what we want to see in the world. If you're doing something amazing, we want to help you reach more people. Send us a little note below.
connect@magic.agency
3550 Frontier Ave. Bldg. D, Boulder, CO 80301
© 2019 MAGIC