B2B Brand Need to Reduce Cost & Scale?

CoverageConnection

CoverageConnection simplifies the process for self-employed individuals to obtain the health insurance they need, allowing them to concentrate on their business endeavors.

CoverageConnection engaged ROAS Depot to reduce CPL and increase total lead volume.

In a short period, ROAS Depot was able to reduce CPL by over 80% and scale the account from $6,000 in monthly spending to well over $70,000 in monthly spending.

The Task: CoverageConnection started the agreement with ROAS Depot, which needed help reducing CPL to make meta ads profitable for their business.

The reduction of CPL meant they could spend more on social advertising, send more leads to their agents, and begin to grow their business.

When ROAS Depot engaged with Coverage Connection, CPL was over $50, which was not profitable with their business model.

The ROAS Depot Strategy:

Research:

Success with ads starts with a great product or service.

The CoverageConnection team knew they had a massive market of self-employed Americans who needed help navigating the world of private insurance and had agents hungry for leads.

ROAS Depot follows a 'Research, Adapt, Implement, Observe' Model. They research competitors and businesses selling to the same market and collect insights into how they communicate with their shared audience.

The team at ROAS Depot adapts the findings into eye-catching and on-brand creative.

They implement structured tests inside the ad account, observe the results, and then scale.

RD's research found companies similar to CoverageConnection that are trying to sell health insurance to self-employed individuals.

Adapt:

The examples ROAS Depot found above are not the most exciting, but they are better than starting from zero.

Trained eyes at ROAS Depot can spot, sometimes, subtle but important details that nearly every insurance agency utilizes in their ads.

Major takeaways?

Competitors call out 'self-employed' individuals, some in the creative, some in the ad copy.

Most of the creative also includes verbiage related to savings and overpaying, which are likely and obvious pain points of self-employed individuals.

After thoroughly reviewing hundreds of ads from various brands,  ROAS Depot put what they had learned into practice and created compelling creative, and actionable ad copy.

ROAS Depot has vast experience and expertise in creating effective ads, having spent millions of dollars on paid social media.

With the valuable insights gathered from their research, they were equipped to produce impactful ads.

See 2 of the 100+ ads ROAS Depot created below.

Implement:

CoverageConnection has eye-catching, easy-to-understand ad creative.

What's next?

ROAS Depot implements campaigns in a structure that allows them to a/b test:

Ad creative
Copy
Audiences
Optimization strategies for the best ROAS (Return on ad spend).

Building ad campaigns with specific structures allows RD to report data quickly and transparently to CoverageConnection's executive team.

The digital hurdle with CoverageConnection's industry is that the Meta platform has no "self-employed looking for healthcare" interests or audiences.

Luckily, the Meta algorithm is excellent at utilizing ad creativity and machine learning to get in front of nearly any business target audience.

Equally crucial as running audience tests, businesses need to be able to produce fresh creatives as they scale, like the examples above, to reduce ad fatigue and help the Meta algorithm learn their target market.

See a few of the 100's of audiences RD tested.

Observe:

RD began scaling the account once they found winning ad creative and audience combinations.

The screenshot below shows CoverageConnection scaling their ads dramatically after ROAS Depot was able to optimize by CPL and deliver increasing leads at a lower price point.

The six screenshots below show how ROAS Depot was able to increase spend over $70,000 in a SINGLE MONTH while reducing cost per lead BY OVER 65%



ROAS Depeot is a humble firm, but... Ashely Woosley, Chief Operating Officer of CoverageConnection, complimented us. (scroll to the bottom)

"Before working with ROAS Depot, we weren't sure we could continue advertising on Meta.

The ROAS Depot team gave us clear guidelines and expectations regarding what was needed from both parties to accomplish a dramatic decrease in CPL and scale.

The results didn't happen overnight, but after our 2+ year relationship, we can confidently say the ROAS Depot team is an expert at everything related to lead generation on the Meta platform. "