Here's my approach:
The customer journey typically is: impression -> click -> sign-up. So 2 hypothesis: either 1. CTR must have decreased or 2. conversion rate must have decreased.
Case 1: when CTR decreased:
a. Refresh the creatives (try newer creatives that are engaging and use proper visual hooks)
b. Use better call to action (optimize the copy)
c. Might be ad fatigue if targeting the right people.
Case 2: when conversion rate decreased:
1. check whether we are targeting the right audience
2. offer change. Change the offer you are giving to the people on the sign-up page (may not be appealing / relevant anymore)
3. Use CRO tactics like social proofing, etc. to revive conversion rate.
C
Curious Coder
There are a few possibilities here -
1. Older advertisers are spending more on Ads: The value of ads as a proposition starts coming in after a seller spends some time learning about how ads work on the platform. In this case it is likely that the sellers onboarded few years back have started spending too much on ads. One way to check this will be looking at the QoQ or YoY spend for these advertisers, if this is rising continuously, it proves the point. Also, for the latest year ad impressions, we can bucket those impressions by ad providers. If the incumbent share is high this point turns out to be true.
2) We should also study if the effect is applicable only to local ads or elsewhere as well. If the overall platform ad impressions are shooting by so much, there could be an instrumentation change or a new display surface unlock, which may be causing this
3) There could be something wrong with the sign up funnel. We should look at the funnel break-up right from the start of the sign up journey to sign up completion and compare the section of funnel YoY to see where the drop is coming and fixing the identified issues.
Community Answers (2)
Here's my approach: The customer journey typically is: impression -> click -> sign-up. So 2 hypothesis: either 1. CTR must have decreased or 2. conversion rate must have decreased. Case 1: when CTR decreased: a. Refresh the creatives (try newer creatives that are engaging and use proper visual hooks) b. Use better call to action (optimize the copy) c. Might be ad fatigue if targeting the right people. Case 2: when conversion rate decreased: 1. check whether we are targeting the right audience 2. offer change. Change the offer you are giving to the people on the sign-up page (may not be appealing / relevant anymore) 3. Use CRO tactics like social proofing, etc. to revive conversion rate.
There are a few possibilities here - 1. Older advertisers are spending more on Ads: The value of ads as a proposition starts coming in after a seller spends some time learning about how ads work on the platform. In this case it is likely that the sellers onboarded few years back have started spending too much on ads. One way to check this will be looking at the QoQ or YoY spend for these advertisers, if this is rising continuously, it proves the point. Also, for the latest year ad impressions, we can bucket those impressions by ad providers. If the incumbent share is high this point turns out to be true. 2) We should also study if the effect is applicable only to local ads or elsewhere as well. If the overall platform ad impressions are shooting by so much, there could be an instrumentation change or a new display surface unlock, which may be causing this 3) There could be something wrong with the sign up funnel. We should look at the funnel break-up right from the start of the sign up journey to sign up completion and compare the section of funnel YoY to see where the drop is coming and fixing the identified issues.