Case Study: How We Increased Revenue by 7x for Minea in 6 Months
Quick Overview
Minea, the leading ad spy SaaS company in the world, helps businesses find winning products for ecommerce. Minea needed help from Engineers in Marketing. They wanted to get more customers with online ads.
Other ways of marketing had helped them grow since 2021, but their investments in online advertising were not profitable. They had great tools and were well-known, but their Google Ads were still not working well.
The Challenge
2 main factors contributed to the client seeking our help:
High Cost/Subscriber: Their Google Ads brought in only a small number of new customers. Less than 14% of their sign-ups came from these ads. Most new customers came from brand ads.
Low Volume of New Subscribers: People clicked on the ads and signed up, but most did not subscribe to a monthly plan. This meant the ads were not profitable.
Step-By-Step of What We Did (with templates)
Audit Google Ads & Conversion Tracking (See what our audit template looks like)
Research the Business, Users, and Competitors (Our onboarding form reduces analysis time by 70%)
Develop Roadmap & Timeline of Work (See what our roadmap template looks like)
Restructure Google Ad Account (See what our account structure template looks like)
Optimize & Scale Account Profitably (See what our weekly account analysis & optimization looks like)
Need Help With Your Google Ads? Why Not Contact Us?
1. Google Ads & Conversion Tracking Audit
See what our audit template looks like to better understand Engineers in Marketing's approach.
The objective at this stage is to better understand whether a win-win is feasible between both client & EIM. We look at the account to determine how much opportunity exists. We look into all components within an account such as campaign structure, ad groups, keywords, match types, bids, location targeting, audiences, etc.
Conversion tracking is an integral part of this process, and answers the question "how accurate is the data we are using?". 95% of accounts that we work on have poor conversion tracking, and that means we are not able to confidently determin whether Google Ads is profitable or not for your business. The first step is making sure that your website is feeding the right information back to Google Ads, so we can track if the Google Ads are converting clicks into customers.
In Minea's case, conversion tracking was poorly setup, so that was a top priority. Additionally, the entire account needed to be restructured so that we can easily derive insights such as "what kind of keywords are most profitable for my business?" & "which ads are my best leads coming from?".
2. Understanding the Business, Users, and Competitors
Our onboarding form reduces this stage by 70%
The objective of this stage is to learn about what you sell, who you sell to, and who you compete with as well as, or even better than yourself. By learning everything about your business, we're able to advertise to the right person, at the right time, with the right message. This plays a pivotal part in what makes us different, and why our process works.
When starting off with Minea, we noticed that the gap between what users were looking for & what Minea was bidding for was huge.
Users were looking for "Ad Spy", "Ad Spy Tool", and "How to spy on competitor ads"
Minea was bidding on "Winning product tool", "Ecommerce Tools", and "Shopify store tools"
The impact of this gap meant that Minea was rarely showing ads for users that were actively ready to pay money for the exact solution it was selling. This happens often in small businesses: entrepreneurs try and sell the dream, instead of selling the problem they solve.
This kind of mistake seems obvious in retrospect, but it's the same thing as looking at the answer in the back of the book and thinking "ah, that's obvious, I'll get it next time". You might not, and it'll cost a lot of $.
Need Help With Your Google Ads? Why Not Contact Us?
3. Detailed Roadmap & Timeline of Work
Our roadmap answers the most important questions:
What work will get done?
How much will it cost?
When can we start seeing results?
Above you can see exactly the plan we laid out for getting Minea's account back in order. Each step was accompanied with a handful of spreadsheet, backing the analysis.
4. Google Account Overhaul
We organize accounts in a manner that allows us to pin point:
What is working
What is not working
What to kill or double down on
See what our account structure template looks like to get an idea of our methodology.
Segmenting Minea's account allowed us to 2x the number of subscribers in the first 4 weeks.
Although we use a template to structure our accounts, it's far from a 1-size fits all. Structuring an account properly allows you to bypass Google Ads limitations, such as assigning specific budgets on certain keywords, ads, or ad groups. Even assigning specific budgets to specific locations is impossible, unless you've structured your account properly.
For Minea's case, we started off with easy wins, which included:
Segmenting Keywords By Brand, Competitor, and Other (We call this ToFu) across Search, PMAX, and Video Campaigns
Segmenting Audiences by Cold & Retargetting Traffic
Segmenting By Geography
The goal is to segment as much as possible, whilst maintaining enough data such that you can take actionable steps. For example, campaigns with $5/day spend will not generate enough data in 1 month or even 3 months, for us to determine whether it is a profitable campaign. We generally aim for campaigns to have a minimum spend of $50/day, so if the account is spending $1000/day, we might have ~15-25 campaigns running.
5. Ongoing Optimization & Account Scaling
With continuous investment and experimentation, Minea's account continues to perform better over time. Looking into new opportunities by testing new geographies, landing pages, offers, ad copy, keywords, etc. we're able to continue expanding Minea's subscriber base, profitably.
Minea now has over 65 Google campaigns, and is investing over 7-figures into its paid ads. We've expanded from Google Ads to Bing Ads, TikTok, Facebook, Twitter, and even Rumble. Minea leverages all kinds of campaigns, from search to video, performance max, display, Gmail, etc.
The investment into a diverse set of paid ads has allowed Minea to reduce investment into other channels that are less profitable, and to double down on its paid ads approach.
