Challenge:
Sommtrust, a fintech platform facilitating investments in alternative assets, faced the need to scale post-pre-seed funding and market validation. To achieve profitable growth, their Customer Acquisition Cost (CAC) had to remain below $10. Additionally, with a sales cycle of 30-45 days, they required a strategic approach to efficiently sign up and convert users into paying customers and investors.
‍Goal:
The primary objective was to identify the right audiences, messaging, and creatives to prove viable unit economics at scale. This approach aimed to help Sommtrust acquire and convert customers profitably. Within the first 60 days of running campaigns, the effort yielded over $300,000 in pipeline value and $50,000 in net revenue, with an impressive 31.7X ROAS.
‍Results & Solution:
We executed a Meta ad campaign targeting individuals interested in investing, real estate, and alternative assets. The focus was on pinpointing engaged audiences and rigorously testing various creatives and copy. Our strategy involved not only educating potential customers but also highlighting the benefits and results of investing in alternative assets. The most effective creatives compared traditional markets with alternative assets, showcasing superior performance against the S&P. Once we honed in on the optimal messaging, creatives, and audience segments, we found strong resonance with young millennials and Gen Z, particularly during the COVID-19 pandemic. This led to rapid scaling and significant growth. Consequently, Sommtrust leveraged these successful results to secure additional seed funding.