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Through a combination of different results we managed to lower our cost per booking (the equivalent of our Cost Per Purchase) by 40%. This was a game changer to the company and meant that we could increase our marketing spend but keep our CPAs lower thereby driving more revenue.
Onto is establishing a new category in the 'electric car buying' space that is 'car subscriptions'. Rather than owning a car (and all associated costs), Onto offers a monthly flexible contract where all costs are included (including your charging). The challenge is that this breaks the normal assumptions of a driver and is a new way of having a car.
Our acquisition channels and ads need to explain this complex proposition into simple and easy to understand message as well as overcome the initial 'sticker shock'. Since we're all-inclusive, the monthly price is naturally higher than what consumers normally see on leasing deals.
As Head of Growth, I'm at the forefront of driving the acquisition strategy.
As Head of Growth, I'm heavily involved in the planning and strategy setting. Following this we set our KPIs, budgets and customise our approach to every marketing channel. Optimisation is key for us given the amount of spend we deploy every month.
We tested new channels (YouTube Ads, Linear TV, Direct Response TV, Video On Demand, LinkedIn Ads, Display Advertising, etc) but also optimised the existing channels (Google, Meta, Facebook etc) to get the best bang for our buck. We had to methodically analyse tests from each other to determine reason for changes in performance.
Through a combination of different results we managed to lower our cost per booking (the equivalent of our Cost Per Purchase) by 40%. This was a game changer to the company and meant that we could increase our marketing spend but keep our CPAs lower thereby driving more revenue.
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