In this post of “Extreme Ads Makeover”, I will be tearing down ads of Chase Bank, on Facebook and have them completely remodeled to have better targeting and ROI.
Check out more ad makeover case studies such as Lexus, Chanel, Chase Bank, Amazon, Starbucks, Nike, Target, Home Depot, and Nature Made.
About Chase Bank
- The #1 Bank in America with over $1.3 Trillion in Deposits with $2.3B in marketing budget
- Chase Bank has over 5,000 branches and 16,000 ATMs across the United States.
- Chase Bank offers a wide range of financial products and services, including checking accounts, savings accounts, credit cards, mortgages, and loans.
- Chase Bank is known for its customer service and its commitment to financial education.
About Chase Bank’s Marketing Agencies
The primary marketing agency for Chase Bank is Inner Circle, an in-house agency that was created in 2019. Inner Circle is responsible for the creative and media strategy for Chase Bank’s marketing campaigns. They also work on product development and marketing initiatives.
In addition to Inner Circle, Chase Bank also works with a number of other agencies, including:
- Droga5: This agency is responsible for creating Chase Bank’s big brand campaigns.
- VaynerMedia: This agency is responsible for Chase Bank’s social media marketing.
- MediaLink: This agency is responsible for media buying and planning for Chase Bank.
These agencies work together to create a comprehensive marketing strategy for Chase Bank. They use a variety of channels, including TV, digital, print, and social media, to reach their target audience.
About Michael Nguyen – CEO of Produce Results Agency, aka the “Extreme Ads Makeover” Host
Since 1999, Produce Results Agency has helped clients double assets from $5ooM to $1B and generated 4000% ROI for a regional bank turning their $66K marketing budget to $2.8M in revenue.
In this post, I will perform an ad audit on Chase Ads, analyze what’s missing from the ads, come up with new ads, and eventually validate those new ads by running paid traffic on my own dime to see how new ads perform.
I am using Meta Ads in this case study but the same principle applies to other mediums such as Google, Youtube, Programmatic Ads, and short forms.
Table of Content
1. Ads Audit
- Voice/Tone/Style/Diction Analysis
- Objections Analysis
- Maslow Hierarchy Analysis
- Negative Sentiment Analysis
- Positive Sentiment Analysis
- Logic vs Emotion Analysis
- Psychographic Analysis
- Desires Analysis
- Human Biases Analysis
3. Ads Makeover
6. Next Steps
Ads Audit
Promoted Product: Chase Point of Sales
Landing page: https://www.chase.com/business/knowledge-center/manage/pos.
Since Chase can take down this landing page anytime I made a copy of it from this backup link.
Facebook Ads: The Chase team created two ad sets to promote.
Ad set #1 (see link)
- There’s no text in this ad besides the photo and CTA
- I think Chase team missed a HUGE opportunity to sell prospects on the benefits of POS when leaving the copy blank.
Ad set #2 (see link)
- As the Call To Action (CTA) of the ad suggests “Do more with your POS system”, this ad is quite generic and tries to do “many things” at the same time. In most cases, when you try to appeal to many things, the effort is most likely to fall short.
- Rather I advocate for the principle of “1-1-1”, one ad idea, one angle and one call to action.
Analysis
What I like:
- The ad “From inventory tracking to collecting data for customer marketing, choose a POS system that can help you work smarter” is straightforward and informative.
Room for improvements:
- Emotional Appeal: The ad provides a functional value but lacks an emotional connection that resonates with the audience. Emotional hooks often enhance ad recall and engagement.
- Benefit Highlight: While it mentions “work smarter,” it doesn’t specify the benefits of doing so. Does it save time? Money? Reduce stress? Clarifying the direct benefits can make the proposition more compelling.
- Differentiating Factor: What makes this POS system stand out from competitors? Highlighting a unique selling proposition can capture more attention.
- Social Proof or Testimonials: Positive reviews or testimonials build trust and can significantly enhance credibility. Consider integrating some form of social proof to bolster the ad’s impact.
- Offer or Incentive: There’s no incentive for immediate action. Offers, discounts, or exclusive benefits can create urgency and drive more immediate responses.
- Clarity: The term “POS system” might be clear to those in retail or businesses, but not everyone may understand its meaning. Depending on the target audience, it might be beneficial to either define it or use more universally understood language.
- Target Audience Definition: The ad seems to be geared toward business owners, but narrowing down the audience (e.g., small business owners, large retailers, restaurants) might allow for more tailored messaging.
- I am disappointed to see the lack of effort in promoting the POS system from Chase when there is only one control ad.
- In contrast, when I review Square, a noteworthy competitor of Chase POS, Square team has created 270 different ads from many different angles to promote.
Effect on Ad Performance:
- Reduced Engagement: Without emotional appeal or a clear value proposition, the ad might not capture attention or resonate with viewers, leading to lower engagement rates.
- Lower Conversion Rates: Without urgency or a clear CTA, viewers might not feel compelled to take immediate action, leading to lower conversion rates.
- Less Memorability: Without strong visuals or emotional triggers, the ad might be less memorable, meaning consumers might not recall the brand or offer later on.
- Broad Targeting: Without specifying a target audience, the ad might reach individuals who aren’t interested in the offer, leading to wasted ad spend.
- Lower Click-Through Rates (CTR): Without a compelling reason to click, viewers might just scroll past.
- Lower Conversion Rates: Even if they do click, they might not be as motivated to purchase without clear value, differentiation, or emotional resonance.
- Less Retention: Without a clear connection or reason to remember the brand or offer, even those who click might forget about it shortly after.
For example: these are Square’s ads on Meta.
Ad 1 (link): focusing on the affordability angle
Ad 2 (link): featuring the mobility angle emphasizing the promise of “taking your store wherever you want to go”.
Here are the disadvantages when having only one control ad:
Lack of A/B Testing
- Limited Insights: With only one ad, you won’t be able to perform A/B tests, which are essential for determining what aspects of the ad are working and what aren’t.
Targeting Limitations
- Missed Opportunities for Segmentation: Different ad sets can target different customer segments. A single ad may not be as effective across all segments, missing out on some potentially lucrative opportunities.
- Reduced Personalization: Multiple ad sets allow you to customize messages based on user behavior, geography, or other demographics. A single ad will be less personalized and potentially less effective (more on this below when I do an ad makeover)
Creativity and Message Fatigue
- Ad Fatigue: Over time, the same ad is likely to become less effective as users get tired of seeing it. Multiple ad sets can help mitigate this effect.
- Limited Creative Testing: Having multiple ads allows for testing different creative elements like headlines, images, and call-to-actions. A single ad limits this flexibility.
Risk Management
- Higher Risk: If your one ad doesn’t perform well, you don’t have other ad sets to fall back on. This all-or-nothing approach can be riskier.
- Budget Allocation: With multiple ad sets, you can allocate more budget to higher-performing ads. A single ad does not offer this flexibility.
Optimization Challenges
- Limited Learning: If your single ad isn’t performing well, it’s harder to pinpoint what exactly is going wrong. Multiple ad sets can provide you with more data, making it easier to optimize.
- Inability to Leverage Platform Algorithms: Many advertising platforms use machine learning algorithms to automatically allocate budget to the best-performing ads in a campaign. With just one ad, you can’t take advantage of this feature.
Data and Analytics
- Limited Data for Analytics: Having only one ad will provide you less data, reducing the reliability and validity of your performance metrics.
Attention:
If you had multiple product lines and currently ran paid ads, there’s a 97% chance that you had less than 3 ads based on my experiences of remodeling ads from Lexus, Chanel, Chase Bank, Amazon, Starbucks, Nike, Target, Home Depot, and Nature Made.
Maybe you are perfectly okay with one control ad and burn your ad budget without ROI.
But if you would like to have a second-opinion ads critique so that you can see the gaps and areas where you can extract MORE juice out of your ads, click on the link below to have me critique your ads.
Gaps Analysis
The Landing Page (see link or backup link)
Audience avatar: Small business owner accepting credit cards
As Jim Collins wrote in his most popular book “Good to Great” – “Begin with an end in mind”, improving Chase’s Facebook Ads wouldn’t start from the ads themselves.
Instead, I would start from the landing page to where Chase sends prospective customers. By analyzing the landing page, I know what’s missing so that I can work backward to improve the ads.
Using the power of AI, I will be applying 7 different lenses (or analysis models) to analyze Chase’s landing page so that you understand what’s missing.
Let’s goooooo…..
VTSD (Voice/Tone/Style/Diction) Analysis
From the landing page, I came up with the Text Personality profile.
Text Personality Profile
- Style and Voice:
– Expository: The text primarily aims to inform the reader about POS systems in a methodical manner, breaking down their features, benefits, and considerations.
– Educational: The tone and language used aim to provide a deeper understanding of the subject to the audience, which presumably consists of individuals not fully acquainted with the intricacies of modern POS systems.
- Tone:
– Neutral-Positive: While primarily informative, the text occasionally adopts a positive tone, especially when highlighting the benefits of modern POS systems.
– Encouraging: Phrases like “Get started” and the mention of it being an “exciting time” aim to motivate the reader to consider their options.
- Interesting Diction:
– Technical Jargon: Terms such as “smart POS”, “merchant services provider”, “digital payments”, “integration”, and “cloud-based system” appear throughout the text.
– Conversational Elements: Phrases like “Not so long ago” or “Get started by answering these five questions” give the content a more conversational and approachable feel.
While the Chase team chose to break down the features and benefits of their POS system, here are some missing angles that would resonate more with the customer avatar that Chase is trying to reach.
- Highlight Affordability:
– Emphasize cost-effective solutions tailored for small businesses, ensuring they don’t have to spend much to get a top-notch system.
- Flexibility & Scalability:
– Stress the flexibility of modern POS systems that can grow with their business, catering to expanding operations without needing constant replacements.
- Personalized Customer Experience:
– Discuss how a good POS system can help small business owners offer a more personalized shopping experience, building customer loyalty and repeat business.
- Efficient Inventory Management:
– Elaborate on how POS systems help small businesses manage their stock efficiently, ensuring they don’t over-order or run out of popular products.
- Local & Community Engagement Features:
– Introduce features or apps within POS systems that allow businesses to engage with local communities, promoting local events or partnering with other small businesses for promotions.
- Ease of Training:
– Mention the ease with which staff can be trained on these systems, saving time and ensuring smooth transactions for customers.
- Security Emphasis:
– Given that small businesses may not have extensive IT teams, emphasize the robust security features that protect customer credit card data.
- Integration with Local Delivery Services:
– Highlight the potential integration with local delivery services, especially crucial in the current market where delivery options are highly valued.
- Highlight Local Testimonials:
– Include testimonies from other local small businesses, discussing the benefits they’ve seen since adopting the system.
- Local Support:
– Mention that small business owners can get local support, ensuring that they have someone to turn to if they encounter any problems or have queries.
By implementing these suggestions, the content will be more aligned with the needs, preferences, and concerns of small business owners looking to accept credit card payments.
Objections Analysis
Anticipating objections is one of the most overlooked analyses that most agencies don’t bother to work on. Yet, when you have more insights into logical, emotional, and practical objections in their heads preventing them from going forward, making sales is so much easier when you find a way to remove those barriers.
In this analysis, I’ll break down 3 categories of objections where the landing page does a good job and where it falls short.
- Logical Objections:
– Complexity and Learning Curve: The description of both traditional and smart POS systems suggests that there might be a steep learning curve for individuals who aren’t tech-savvy. Business owners may feel overwhelmed with the numerous features and integrations mentioned.
– Security Concerns: While the text mentions connecting to bank accounts, tracking sales, and storing customer data, it doesn’t emphasize the security features. Business owners could be concerned about the safety of financial transactions and the storage of sensitive customer data.
– Reliability of Wireless Systems: The mention of slow internet connections or locations with spotty cell service potentially causing delays in sales processing could be seen as a significant drawback. Owners may question the feasibility of adopting such systems if their area has unstable internet connectivity.
- Emotional Objections:
– Fear of Change: The contrast between the old bell-ringing cash registers and the modern, feature-rich POS systems may invoke a sense of nostalgia and resistance to changing what might be working just fine for some businesses.
– Overwhelm with Choices: With the array of options and considerations provided (traditional vs. smart, integrations, payment methods), a business owner might feel paralyzed by too many choices and prefer to maintain the status quo.
- Practical Objections:
– Cost Implications: The text doesn’t provide clear information about the cost of acquiring and maintaining these POS systems. Small business owners might be concerned about the financial implications of implementing a new system, especially if there are transaction fees, setup fees, or monthly costs involved.
– Integration Limitations: For businesses that already use specific software for accounting, inventory, or CRM, there may be concerns about how seamlessly the suggested POS systems would integrate with their existing tools.
– Potential Hardware/Software Redundancies: If a business has recently invested in a system, they may see the proposed POS solutions as redundant or unnecessary.
Here are additional objections that the prospective customers could raise:
– Long-term Support and Updates: Business owners might question the longevity of support and regular updates for the POS systems, ensuring that they remain compatible with evolving technologies.
– Vendor Lock-in: There could be concerns about being locked into a particular service provider, especially if switching providers in the future becomes complex or costly.
– Customization Limitations: The text doesn’t specify if the POS systems can be customized to cater to niche business needs or specific industry requirements.
– Physical Space and Installation: Business owners might wonder about the physical space required for these systems and the potential disruption during installation.
– Contractual Obligations: There might be questions about the length of contracts, early termination fees, or other hidden costs not mentioned in the text.
– Scalability Concerns: As businesses grow, owners might be concerned about the system’s ability to scale and handle increased transactions without performance issues.
Maslow Hierarchy Analysis
Maslow’s hierarchy of needs is a motivational theory in psychology comprising a five-tier model of human needs, often depicted as hierarchical levels within a pyramid.
From the bottom of the hierarchy upwards, the needs are physiological (food and clothing), safety (job security), love and belonging needs (friendship), esteem, and self-actualization.
Needs lower down in the hierarchy must be satisfied before individuals can attend to higher needs.
- Physiological Needs: Not explicitly mentioned.
- Safety Needs:
– Reliable connection, ensuring that business transactions go through without hitches. (Mentioned multiple times: reliable connection, the speed and reliability of a wired connection, storing data on your own servers for access even if the internet is down.)
– Secure credit card processing, ensuring the safety of financial transactions. (Mentioned once: secure credit card processing)
– Fair and transparent pricing for payments. (Mentioned once: look for fair and transparent pricing)
- Belongingness and Love Needs: Not explicitly mentioned.
- Esteem Needs:
– Being able to offer better service to customers, elevating the business’s reputation. (Mentioned multiple times: provide fast and convenient service, POS system helping in offering better services, the ability to offer loyalty rewards, suggest new products, send targeted emails, etc.)
– POS being the front line of the business, which might boost the business owner’s pride and confidence in their operations. (Mentioned once: POS system is the front line of your business.)
- Self-Actualization Needs:
– Turning the POS system into a strategic hub, implying that it can help the business reach its fullest potential. (Mentioned once: turn your POS system into a strategic hub)
– The ability to develop new or more effective sales strategies, signifying growth and betterment. (Mentioned once: develop new or more effective sales strategies)
Maslow’s Hierarchy of Needs NOT Present but Could Appeal to Small Business Owners Accepting Credit Cards:
- Physiological Needs:
– Offerings that reduce physical effort or save time, which indirectly relates to physiological comfort. For example, a lightweight, compact design that doesn’t consume much space.
- Belongingness and Love Needs:
– Building a community of users where business owners can share experiences, give feedback, and learn from one another.
– Offering personalized customer service experiences, where the business feels valued and part of a larger group of satisfied customers.
- Esteem Needs:
– Offering elite or premium versions of the POS service for businesses that want to differentiate themselves.
– Including testimonials or success stories of businesses that have grown or benefited immensely from the POS system.
- Self-Actualization Needs:
– Advanced analytics or features that not only help in running the business but also in evolving and envisioning future strategies.
– Training or workshops aimed at helping business owners leverage the full potential of the POS system.
To fully address the needs and concerns of small business owners, it would be valuable to incorporate these missing elements in the promotional content about the POS system.
Negative Sentiment Analysis
- Pain:
– Inconvenience of not making sales on the go: Traditional POS often requires a wired connection, restricting mobility. (Mentioned once)
– Inability to offer desired customer services: Not all POS systems store customer data or have loyalty programs. (Mentioned once)
– Potential limited functionality: Earlier, POS was just a cash register with minimal features. (Mentioned once)
– Overwhelming choice: Many potential features to consider in a POS system. (Mentioned once)
- Problems:
– Traditional POS systems might not integrate easily: Integrations can be challenging. (Mentioned once)
– Traditional POS might not allow for diverse payment options: Some POS systems might be limited to certain payment methods. (Mentioned once)
– Potential challenges with fair and transparent pricing: Some payment methods might have higher transaction fees. (Mentioned once)
– Lack of clarity in payment structure: The payment structure could be confusing. (Mentioned once)
- Fears, worries, anxieties:
– Fear of making the wrong choice: So many potential features to consider. (Mentioned once)
– Concern about not having access to business data remotely: Not all POS systems offer cloud storage. (Mentioned once)
– Worry about not being able to provide the latest payment options: Traditional POS might not support all digital payment methods. (Mentioned once)
– Fear of not being competitive: Not using POS to its fullest potential. (Implied but not explicitly mentioned)
- Frustrations:
– Waiting due to slow connections: Slow internet or spotty cell service can delay transactions. (Mentioned once)
– Difficulty in understanding pricing: Need to ask providers to explain their pricing. (Mentioned once)
– Integrations not being straightforward: Need to implement new code for certain integrations. (Mentioned once)
– Limitations of traditional POS: Restricted to wired connections or not having certain features. (Mentioned multiple times)
- Uncertainty & Perceived risk:
– Doubting reliability of wireless systems: Concern about sales going through with wireless connections. (Mentioned once)
– Storing data off-site: Risk of not accessing data if the internet is down. (Mentioned once)
– Uncertainty about merchant services providers: If they can’t explain their pricing, considering other options becomes a possibility. (Mentioned once)
– Not sure about integration possibilities: Uncertainty about whether integrations are already set up. (Mentioned once)
Sentiments Not Present but Could Appeal to Small Business Owners Accepting Credit Cards:
- Pain:
– High transaction fees reducing profits.
– Difficulty in tracking sales and managing inventory without a POS.
– The stress of manual accounting and sales tracking.
– Time-consuming training or steep learning curves for new systems.
- Problems:
– Inconsistent customer data leading to inefficient marketing.
– Difficulty in offering promotions or loyalty programs without proper data.
– Manual reconciliation of sales and inventory.
– Limited insights into customer behavior and preferences.
- Fears, worries, anxieties:
– Fear of technological obsolescence.
– Anxiety about data breaches or security issues.
– Worry about system downtimes during peak business hours.
– Concerns about compliance and regulatory issues.
- Frustrations:
– Feeling tied down to one location due to wired systems.
– Lack of customization or adaptability for unique business needs.
– Having to switch between multiple systems for different tasks.
– Inefficient customer support when issues arise.
- Uncertainty & Perceived risk:
– Uncertainty about future software updates or support.
– Risks associated with choosing lesser-known brands or new entrants.
– Doubts about long-term costs and potential hidden fees.
– Uncertainty about integration with other existing business systems.
Including these sentiments in promotional or explanatory content would make it more comprehensive and relevant to the concerns and needs of small business owners.
Positive Sentiment Analysis
While the Negative Sentiment gives us insight into what drives small business owners away, for the Positive Sentiment analysis, I am looking for what can lead to desire, hopes, and dreams of what they are looking for in POS solutions.
- Goals
– Turn POS system into a strategic business hub (1 instance)
– Track sales and inventory (1 instance)
– Provide fast and convenient service (1 instance)
– Choose the right POS system for business needs (1 instance)
- Desired outcomes
– Connect to bank account seamlessly (1 instance)
– Access business data remotely (1 instance)
– Understand payment structures and pricing (1 instance)
– Integrate POS with other business systems (1 instance)
- Jobs
– Process credit cards and digital payments (2 instances)
– Access additional tools and information through apps (1 instance)
– Take payments on the go (1 instance)
– Sync and pass data between different systems (2 instances)
- Wants, hopes, dreams
– More advanced features in the POS system compared to older systems (1 instance)
– Mobility and flexibility in processing payments (2 instances)
– Ability to easily integrate with other systems (2 instances)
– Improve customer relationship and retention (2 instances)
- Unique function
– A strategic hub that more than just processes payments (1 instance)
– Real-time adjustments to inventory (1 instance)
– Tracking success of marketing campaigns through integrated data (1 instance)
– Offering loyalty rewards and targeting customers effectively (1 instance)
- Unique features/benefits
– Ability to offer loyalty rewards (1 instance)
– Suggest new products based on past customer data (1 instance)
– Fast and straightforward integration capabilities (1 instance)
– Verification of in-stock products and holding them for customers (1 instance)
- Relationships
– Building trust with transparent pricing from merchant services providers (1 instance)
– Improving customer loyalty with targeted marketing efforts (2 instances)
– Responding quickly to customer needs (1 instance)
– Connecting businesses with Payments Advisor (1 instance)
Sentiments Not Present but Could Appeal to Small Business Owners Accepting Credit Cards:
– Confidence: Assurance that adopting new technology would be a seamless process.
– Security: Strong emphasis on protecting customer data and financial transactions.
– Simplicity: Ease of use and user-friendly interfaces, minimizing the learning curve.
– Affordability: Cost-effective solutions tailored for small businesses.
– Community: Being part of a network or community of business owners sharing insights and best practices.
– Support: Ongoing customer service and tech support to address challenges swiftly.
– Updates: Continuous updates and improvements to stay ahead of technological advancements.
By understanding these sentiments, businesses can tailor their offerings and communications to resonate more deeply with their target audience, in this case, small business owners accepting credit cards.
Logic vs Emotion Analysis
The late great sales trainer, Zig Ziglar, used to say, “People buy on emotion and justify on logic.” Wouldn’t it make sense to understand what logical sentiments small business owners are using to make justification and how they make decisions on emotion?
That’s exactly why in this analysis, the landing page is carefully analyzed to look for decision-making logical patterns as well as emotional patterns to see what the gaps are.
Logical Sentiments
– “It’s the front line of your business.” (Identification Logic: Defining the role of a POS system in a business)
– “Traditional POS systems operate specific point of sale software on a computer and save data to a hard drive.” (Categorization Logic: Differentiating traditional POS systems)
– “With so many potential features, there’s a lot to consider when choosing a POS system.” (Decision-making Logic: Recognizing the complexity of choosing the right POS)
– “Traditional POS systems often require a wired connection…” (Comparison Logic: Contrasting traditional and smart POS systems)
– “When considering merchant services providers, look for fair and transparent pricing…” (Evaluation Logic: Providing guidance on how to assess a service)
– “Many software providers offer built-in integrations.” (Causation Logic: Explaining the availability of integration options)
– “The big advantage of a traditional POS is the speed and reliability of a wired connection.” (Cause and Effect Logic: Highlighting the benefit of a specific feature)
– “They may also enable you to take payment information and store it offline and then process payments once you have access to a phone line…” (Sequential Logic: Describing a sequence of events in offline payment processing)
Logical Sentiments Missing but Should Be Present:
– The long-term cost savings of digital vs. traditional POS systems.
– The ease or difficulty of training staff to use a new POS system.
– Data security and customer information protection features.
– Future-proofing businesses: How adaptable are these systems to future tech advancements?
Emotional Sentiments
– “Not so long ago, a point of sale system (POS) system was a cash register whose “bells and whistles” included an actual bell. Today, business owners can expect a lot more.” (Nostalgia: Reflecting on simpler times and progression)
– “Many business owners now run their businesses through their POS.” (Trust: Relying heavily on technology)
– “If they can’t, consider a different option.” (Distrust: Suggesting caution and skepticism)
– “A smart POS uses apps, which allow it to easily pass data back and forth between systems.” (Appreciation: Valuing convenience and integration)
– “A POS system can do more than process payments. Many now include features that customers love…” (Affection: Positive feelings toward the versatility of modern POS systems)
– “It’s an exciting time to consider a new POS system.” (Excitement: Anticipating the benefits of newer systems)
Emotional Sentiments Missing but Should Be Present:
– Peace of mind for business owners knowing that transactions are secure and reliable.
– The pride and prestige associated with owning a state-of-the-art POS system.
– Relief in knowing that support and assistance are available when navigating POS complexities.
– Frustration prevention, suggesting that a better POS can prevent common business hiccups.
Psychographic Analysis
Psychographics is the study of consumers based on their activities, interests, and opinions (AIOs). It goes beyond classifying people based on general demographic data, such as age, gender, or race. Psychographics seeks to understand the cognitive factors that drive consumer behaviors.
Based on Chase Landing page, there are 6 primary psychographic groups based on the usage pattern of POS system.
6+ Primary Psychographics
- People who prioritize mobility in their business operations.
– “Do you need to make sales on the go? Traditional POS systems often require a wired connection, although some work with wireless card readers that allow you to move around your space or process transactions off-site.”
- People who value diverse and convenient payment options for their customers.
– “What kinds of payments do you need to take? Many traditional POS systems and all smart POS systems integrate digital payment options and allow customers to swipe, dip, tap or scan their payment of choice.”
- Business owners who appreciate the integration of various systems to streamline their operations.
– “Do you want to integrate your POS with other systems? Integrations can be challenging for traditional POS systems but are usually possible.”
- People focused on customer relationship management and targeted marketing.
– “Fast, straightforward integrations also can help you analyze your sales figures and collect customer data in your CRM system so that you can develop new or more effective sales strategies.”
- Business operators who emphasize enhancing the customer experience.
– “How can your POS system help you offer better service? A POS system can do more than process payments. Many now include features that customers love and that can help you run your business more effectively.”
- Individuals who weigh the importance of a reliable, consistent connection for their business transactions.
– “Do you have a reliable connection? The big advantage of a traditional POS is the speed and reliability of a wired connection.”
The text from the landing page paints a picture of business owners or decision-makers who are tech-savvy, customer-focused, and keen on enhancing and modernizing their operations. They are also depicted as being diligent in their research, wanting to understand and weigh their options before making an investment.
Desires Analysis
Over the years of writing copies and launching marketing campaigns for clients, there’s a list of desires that humans want to achieve. For example:
Need: Satisfy an intense need for something.
Survival: Live a long and healthy life
Protection: Safety, care and protection for yourself and loved ones
Freedom: Freedom from danger, fear and pain
Comfort: Comfortable living conditions
and many others.
The goals of this analysis are two-fold:
- Amplify desires already present on the landing page
- Include missing desires from the landing page
6 Primary Desires
- Convenience:
– “It’s the front line of your business. It’s not just where you can process credit cards and digital payments. It’s also how you can connect to your bank account, track sales and inventory, and provide fast and convenient service.”
– “Many business owners now run their businesses through their POS.”
– “Traditional POS systems often require a wired connection, although some work with wireless card readers that allow you to move around your space or process transactions off-site.”
- Efficiency:
– “A smart POS uses apps, which allow it to easily pass data back and forth between systems.”
– “With these integrations, many businesses are able to see sales data in their accounting software, get real-time adjustments to their inventory or quickly deposit funds into their bank accounts.”
- Protection:
– “On the other hand, smart POS systems often connect through Wi-Fi or a cellular network for secure credit card processing across the street or the country.”
- Intelligence:
– “Do you want to integrate your POS with other systems?”
– “Fast, straightforward integrations also can help you analyze your sales figures and collect customer data in your CRM system so that you can develop new or more effective sales strategies.”
- Relationships:
– “A POS system can store customer data, allowing you to offer loyalty rewards based on dollars spent or points earned.”
- Dependability and Quality:
– “The big advantage of a traditional POS is the speed and reliability of a wired connection.”
Sentiments Not Present But Should Be
- Profit: Appealing to business owners’ desire to maximize their profit margins through efficient transaction processing and minimized downtime.
- Ownership: Positioning the POS system as a tool that enables business owners to have more control and ownership over their sales data, customer relationships, and overall business operations.
- Cleanliness: In today’s context, cleanliness is crucial. Highlighting features that reduce physical contact, like contactless payments or emailed receipts, would resonate with health-conscious business owners.
- Aspiration: The idea that by adapting and upgrading to a newer, more efficient POS system, the business owner is striving for continuous improvement and is forward-thinking
- Belonging: Emphasizing the sense of belonging to a community of technologically advanced and savvy business owners by choosing the right POS system.
- Loss: Highlighting the potential loss of revenue or customer loyalty by not upgrading to a smarter POS system or not offering certain payment methods.
Human Biases Analysis
A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects the decisions and judgments that they make. According to the Cognitive Bias Codex, there are an estimated 180 cognitive biases (this list is frequently updated.) For example, there are some biases you may be familiar with:
A deep grasp of the psychological underpinnings that drive human attention, perception, and decision-making can greatly increase the effectiveness of ad campaigns. Here’s how understanding human biases can help:
Visual Attention and Primacy Effect
People are more likely to remember the first and last things they see. Designers can capitalize on this by placing the most important elements, such as the call-to-action or brand logo, in positions that take advantage of this bias. This principle is often applied in landing page designs, video ads, and carousel advertisements.
Authority Bias
People are influenced by experts or authoritative figures. Incorporating endorsements or expert opinions in an ad can help sway potential customers. In the design, this can manifest as strategically placing these endorsements where they are most likely to capture attention.
Social Proof
The bandwagon effect or social proof bias means people are more likely to do something if they see others doing it. Incorporating elements that indicate wide acceptance or popularity, such as customer testimonials, star ratings, or the number of products sold, can make ads more compelling.
Emotional Appeals
People are not always rational; emotional biases often override logical thinking. Design elements like color, imagery, and typography can evoke specific emotions that align with the ad’s message. For example, using warm colors like red or orange can trigger excitement or urgency, which could prompt quick decision-making.
Scarcity and Loss Aversion
People are generally more motivated by the fear of losing something than by the prospect of gaining something of equal value. Adding time-sensitive offers, limited quantities, or exclusive deals can make an ad more compelling. Designers should highlight these elements visually to draw attention to them.
Anchoring
People rely heavily on the first piece of information they receive when making decisions. Price anchoring is a common technique, where a higher price is first shown next to the discounted price, making the latter seem like a bargain. The design should make this contrast visually striking.
Reciprocity
People tend to want to return favors. Offering something of value in the ad—like a free e-book, a discount, or valuable insights—creates a sense of obligation in the viewer. The design should make this offer stand out.
Simplification and Cognitive Ease
People prefer things that are easy to think about and understand. Keeping the design uncluttered, using simple language, and providing clear calls to action fall under this category.
By acknowledging these biases, we can create layouts, use colors, and choose typography and imagery that aligns with these cognitive triggers, ultimately leading to higher conversion rates and more effective advertising campaigns.
Cognitive Biases
- Quote: “Not so long ago, a point of sale system (POS) system was a cash register whose “bells and whistles” included an actual bell. Today, business owners can expect a lot more.”
– Bias: Narrative Fallacy – The text constructs a narrative that illustrates a story of technological progress in POS systems.
- Quote: “Many business owners now run their businesses through their POS.”
– Bias: Herd Mentality – By stating that many business owners now use POS systems in this way, it implies that this is a common or popular behavior to adopt.
- Quote: “Ask providers to explain their pricing in a way that you can understand. If they can’t, consider a different option.”
– Bias: Framing Cognitive Bias – This statement is framed in a way that implies that if a provider can’t explain their pricing simply, they might not be a good choice.
- Quote: “The big advantage of a traditional POS is the speed and reliability of a wired connection.”
– Bias: Overconfidence Bias – This sentence seems sure of the superiority of the traditional POS in terms of speed and reliability. It doesn’t provide comparative data to support this claim.
- Quote: “It’s an exciting time to consider a new POS system.”
– Bias: Framing Cognitive Bias – This statement is framed positively to make the process of considering a new POS system seem appealing and timely.
Sentiments not present but could appeal to small business owners accepting credit cards:
- Cost Efficiency: Emphasizing how using a POS system might lead to cost savings in the long run.
- Enhanced Security: Detailing the safety measures that modern POS systems provide to ensure secure credit card transactions.
- Scalability: Highlighting how the system can grow with a business and adapt to increased transaction volumes or diversified payment methods.
- Customer Trust: Mentioning how customers are more likely to trust businesses with reliable and modern payment systems.
- Competitive Advantage: Stating how having an advanced POS system can give small businesses an edge over competitors still using outdated methods.
- Simplified Accounting: Emphasizing the ease with which POS systems can integrate with accounting software to simplify bookkeeping.
Ads Makeover
There is a lot to absorb based on my 7 analysis models.
For brevity, I’ll pick out 3 models and improve the landing page & create new sets of Facebook ads based on what I recommend.
I would leave the remaining 4 analyses as homework for Chase team or they can reach out to me and we can gladly continue the work on the remaining 4 models on a retainer basis.
Voice/Tone/Style/Diction Analysis
Landing page Rewrite: I am going to rewrite a new version of the landing page with emphasis on Highlighting Affordability
Unlock the Magic: Make Your POS the Affordable Powerhouse of Your Business
Picture this: Once upon a time, the charm of a point of sale system (POS) was a quaint bell that signaled a sale. Now, that humble register has evolved into a commanding force that not only hears the cha-ching but also streamlines your operations in a digital arena. With an affordable investment, witness the metamorphosis of your business.
Dive into the heart of the digital age with a POS that stands as the vigilant guardian of your business. Beyond mere transactions, it’s a shimmering portal, granting you direct access to your bank vault, sales analytics, and inventory in real-time. It’s no wonder that savvy business owners have seamlessly integrated their operations via their POS.
While the traditional POS, steadfast and reliable, functions through specific software and stores treasures on a hard drive, the modern, smart POS sparkles with the brilliance of a smartphone. With a treasure trove of apps at your fingertips, you can reach out and touch vast realms of data and tools without breaking the bank.
Embarking on this journey? Pose yourself these golden questions:
– Wish to Conquer Territories On-the-Move?
While the old-world charm of traditional POS demands a tethered connection, some have adapted, allowing you the freedom to roam with wireless connections. Yet, the majestic smart POS, affordable yet grand, connects through the invisible threads of Wi-Fi or cellular networks, giving you the power to process transactions from any corner of the world.
– Which Coins and Currencies Do You Wish to Accept?
Both the traditional stalwarts and the gleaming smart POS open the gates to a myriad of payment methods. Seek providers who offer clear, affordable, and transparent treasures without hidden dragons. If they talk in riddles, set your sights elsewhere.
– Dream of Interlinking Your Kingdom’s Systems?
While old guard POS might require wizards to integrate, the smart POS, with its app-driven magic, integrates effortlessly. Watch as your sales data paints a masterpiece, or let your inventory adjust in real-time, all without draining your coffers.
– How to Dazzle Your Subjects with Stellar Service?
The modern POS is no mere payment conduit. It’s a gilded chest brimming with features. Enchant your customers with personalized offerings and cast a spell with targeted messages, all while ensuring the best value for your precious gold.
– Do You Have the Steed for a Steady Journey?
The strength of the traditional POS lies in its unwavering wired connection, ensuring a speedy voyage. However, should you face treacherous terrains with unstable connections, some systems come armed with both wireless prowess and backup dial-up.
Embark on This Grand Quest
In this vibrant era, choosing a POS is an adventure filled with promise. Be it the unyielding reliability of the old guard or the nimble grace of the cloud warriors, your quest awaits. Venture forth to Chase Payment Solutions℠, and let your saga begin!
Facebook Ads Concepts for Highlighting Affordability
Headlines
- From Quaint Bells to Digital Power: The Affordable Evolution Awaits!
- Modernize with Magic: Your Cost-Effective POS Transformation.
- ✨ Unlock the Majestic Magic of Modern POS – Affordably & Efficiently!
- Small Investment, Grand Returns: The POS Revolution for Business Owners.
Ad Copies
- Remember the simple chime signaling a sale? Step into the future with a POS system that’s both a beacon of modernity and affordability. Seamlessly merge your operations, dive deep into analytics, and watch your business metamorphose—all without emptying your purse. Join the ranks of the savvy. ?✨
- In a world of digital wonders, your POS can be the guardian of your business kingdom without the hefty price tag. Connect from anywhere, accept varied payments, and enchant customers with stellar services. With a trove of modern features at your fingertips, make the smart and affordable choice today. ??
- Small business owners, unlock the affordable powerhouse your enterprise deserves! Beyond the cha-ching, our modern POS system streamlines operations, integrates effortlessly, and brings the world to your fingertips—all while respecting your budget. Embark on your quest with Chase Payment Solutions℠. ?
Objections Analysis
Landing page Rewrite: one of the objections not clearly addressed in Chase’s original landing page is the concern about “Cost Implication”, the cost of acquiring and maintaining these POS systems. Small business owners might be concerned about the financial implications of implementing a new system, especially if there are transaction fees, setup fees, or monthly costs involved.
A Budget-Friendly Upgrade for Small Businesses: The Modern POS System
In an evolving business world, remember when the ‘ring’ of cash registers signified sales? Today, it’s not just about the sound; it’s about the efficiency and cost-effectiveness of the system behind it.
Embrace the digital age with a POS system that understands both the scale and the budget of a small business. Think beyond just another expense. Envision a strategic investment that enhances your sales process, links seamlessly with your bank, tracks your inventory, and elevates the service you offer—without breaking the bank.
Old-school POS systems, while dependable, function like analog tools in a rapidly digitizing world. Contrast that with today’s ‘smart’ POS, which offers a plethora of features at a fraction of the expected cost, making them tailor-fit for small businesses. Plus, with instant access to countless apps and tools, informed decision-making is just a tap away.
Concerned about the financial commitment? Let’s address that:
- Affordable Entry & Transparent Pricing: Dive into the world of modern POS without the hefty price tags of the past. Our solutions offer transparent, upfront pricing, devoid of hidden charges or confusing terms. Know exactly what you’re paying for, and why.
- Maximize ROI: The efficiency gains, sales insights, and customer experience enhancements you’ll achieve with a modern POS system mean that your initial investment will pay for itself in no time. It’s not just about accepting credit cards; it’s about refining your entire business process.
- Cost-effective Integrations: With our modern systems, gone are the days of expensive integrations. Connect effortlessly with other business tools and systems, bringing together sales, accounting, inventory, and more without the high integration costs of traditional systems.
- Savings through Efficiency: A modern POS does more than just process payments. With features like inventory tracking and customer insights, reduce overheads, avoid stock wastage, and understand client preferences to offer targeted promotions—saving money while driving revenue.
- Stay Competitive without Overspending: In today’s business landscape, accepting credit cards is no longer a luxury—it’s a necessity. But that doesn’t mean it should come with an exorbitant price tag. Our POS solutions ensure you stay competitive while remaining financially prudent.
Make the Leap: Switching to a modern POS system isn’t merely about keeping up with the times; it’s about being strategic with your resources. With Chase Payment Solutions℠, make the transition smooth, affordable, and, most importantly, beneficial for your business’s bottom line. Embrace the future of transactions, optimized for small business budgets.
Facebook Ads Concepts for addressing the cost implication.
Headline Options:
- Unbeatable Value, Unparalleled Experience: Your POS Upgrade Awaits!
- Modern POS for Every Budget: Amplify Business without Breaking the Bank.
- Transform Your Transactions: Cost-effective, Cutting-edge, and Customized.
Ad Copy:
- Dreaming of a state-of-the-art POS but worried about costs? Dive into a world where modernity meets affordability. With Chase Payment Solutions℠, the heartbeat of your business becomes more vibrant without weighing down your finances. Enjoy transparent pricing, diverse payment options, and efficiency that won’t dent your wallet. Let’s redefine what ‘cost-effective’ truly means!
- Every small business owner deserves the best, without the hefty price tag. With Chase Payment Solutions℠, experience a modern POS system designed with YOU in mind. From seamless integrations to unmatched reliability, step into the future of transactions without financial stress. Say goodbye to jargons and hello to clear, transparent pricing. Ready to revolutionize your business?
- In an age of digital wonders, why should your budget hold you back? Transition to a modern POS system that understands the pulse of your business and respects your pocket. Enjoy the charm of digital efficiency, diverse payment modes, and crystal-clear pricing. With Chase Payment Solutions℠, let’s ensure your business soars, not your expenses. Join the cost-effective revolution today!
Psychographic Analysis
Landing page Rewrite: I am going to rewrite a new version of the landing page with emphasis on the category of “business owners who prioritize mobility in their business operations“
Unlock Boundless Horizons with Mobility-Driven POS!
Step into the future, where your POS isn’t just a business tool—it’s the lifeblood of your unshackled, ever-moving enterprise.
Remember the quaint jingle of the traditional cash register? Fast forward to today, where the digital symphony of the new-age POS sings tales of uninhibited movement. Your business deserves more than static operations. Picture this: Closing a lucrative deal as you sip your coffee at a café downtown or clinching a pivotal sale as you wander through a trade fair in another city.
Are You Ready to Unleash the True Power of Mobility?
- Anywhere, Anytime Sales: Traditional POS had you tied down, bound by cords and connections. Now, envision a world where your business transcends borders, where every corner of the globe is a potential sales point. With smart POS systems, the world truly becomes your marketplace—untethered and unlimited.
- Seamless Payment Experiences: Dive into the digital age, where payments aren’t just about swipes and dips. Be it an impromptu sale at a local market or a mega transaction on the opposite coast, smart POS ensures your transactions are swift, secure, and seamless.
- Integration Like Never Before: Let’s talk magic—where your POS effortlessly converses with your inventory, CRM, and accounting systems. Imagine real-time data at your fingertips, giving you insights as you hop from one city to the next.
- Transform Customer Service: Create memories, not just sales. Delve deep into the desires of your clientele, offering personalized product recommendations even when you’re miles away. And as they leave with a smile, give them the choice—digital receipts that echo your business’s eco-friendly ethos.
- Stellar Connectivity: Reliability isn’t just about strong connections—it’s about persistent ones. Why limit yourself to one mode when you can switch between wired efficiency and wireless wonders?
Embark on Your Unchained Journey! This is your clarion call—unshackle your business aspirations from static confines. Whether you desire the stalwart reliability of a traditional system or the whimsical wonders of the cloud, the world awaits your conquest. Dive deep with Chase Payment Solutions℠ and soar the limitless skies of mobile commerce.
Facebook Ads Concepts for “People who prioritize mobility in their business operations“
Headline Options:
- Empower Your Mobile Business: The Future of POS Awaits!
- POS That Moves As Swiftly As You Do: Upgrade to Mobile Mastery.
- Mobility First: Transform Your Business with Next-Gen POS Solutions.
Ad Copy:
- Business on the move? Keep up with the fast-paced world with a POS system designed for ultimate mobility. Chase Payment Solutions℠ offers smart POS systems that sync effortlessly over Wi-Fi or cellular networks. Your data? Safely tucked in the cloud, accessible anytime, anywhere. For small business owners embracing change, it’s not just about accepting credit cards—it’s about ushering in a new era of boundless opportunities.
- For the dynamic small business owner, every second and every location counts. Dive into a POS system that’s as mobile as your ambitions. With Chase Payment Solutions℠, leave wired constraints behind and embrace the freedom of remote access, cloud storage, and seamless integration. When your business has wings, ensure your POS system does too. Let’s soar together!
- In the realm of business, mobility isn’t a luxury; it’s a necessity. Upgrade to a POS system that understands this ethos. With Chase Payment Solutions℠, enjoy a smart POS experience that offers the convenience of Wi-Fi or cellular connections, and the security of cloud-based data storage. Small business owners, it’s time to move, evolve, and thrive with a POS system built for the modern age. Join the revolution today!
Validate New Ads
This is where the rubber meets the road as I am going to validate ad concepts from the previous step by running paid traffic to see which ad concepts would resonate most with the customers.
There will be 3 ad sets:
Adset 1:
Goal: Highlighting Affordability of the POS system
Landing page: https://michaelnguyen.me/make-your-pos-the-affordable-powerhouse/
Headlines
- From Quaint Bells to Digital Power: The Affordable Evolution Awaits!
- Modernize with Magic: Your Cost-Effective POS Transformation.
- ✨ Unlock the Majestic Magic of Modern POS – Affordably & Efficiently!
- Small Investment, Grand Returns: The POS Revolution for Business Owners.
Ad Copies
- Remember the simple chime signaling a sale? Step into the future with a POS system that’s both a beacon of modernity and affordability. Seamlessly merge your operations, dive deep into analytics, and watch your business metamorphose—all without emptying your purse. Join the ranks of the savvy. ?✨
- In a world of digital wonders, your POS can be the guardian of your business kingdom without the hefty price tag. Connect from anywhere, accept varied payments, and enchant customers with stellar services. With a trove of modern features at your fingertips, make the smart and affordable choice today. ??
- Small business owners, unlock the affordable powerhouse your enterprise deserves! Beyond the cha-ching, our modern POS system streamlines operations, integrates effortlessly, and brings the world to your fingertips—all while respecting your budget. Embark on your quest with Chase Payment Solutions℠. ?
Ad Creatives:
Instead of creating new creative, I decided to use the existing one and focus on the copy instead.
However, having multiple creatives matching the ad message boosts the performance.
Here’s how I set the adset on Facebook
- Budget: $10 Lifetime
- Product/Service: POS
- Ad Angle: Highlighting Affordability
- Targeted audience: Target with interest in Chase Bank (who else is better than prospects already interested in Chase Bank?)
- Placement: News Feed
- Optimization: Optimized for Traffic
Adset 2:
Goal: Addressing the “cost implication” objection
Landing Page: https://michaelnguyen.me/the-modern-pos-system
Headline Options:
- Unbeatable Value, Unparalleled Experience: Your POS Upgrade Awaits!
- Modern POS for Every Budget: Amplify Business without Breaking the Bank.
- Transform Your Transactions: Cost-effective, Cutting-edge, and Customized.
Ad Copy:
- Dreaming of a state-of-the-art POS but worried about costs? Dive into a world where modernity meets affordability. With Chase Payment Solutions℠, the heartbeat of your business becomes more vibrant without weighing down your finances. Enjoy transparent pricing, diverse payment options, and efficiency that won’t dent your wallet. Let’s redefine what ‘cost-effective’ truly means!
- Every small business owner deserves the best, without the hefty price tag. With Chase Payment Solutions℠, experience a modern POS system designed with YOU in mind. From seamless integrations to unmatched reliability, step into the future of transactions without financial stress. Say goodbye to jargons and hello to clear, transparent pricing. Ready to revolutionize your business?
- In an age of digital wonders, why should your budget hold you back? Transition to a modern POS system that understands the pulse of your business and respects your pocket. Enjoy the charm of digital efficiency, diverse payment modes, and crystal-clear pricing. With Chase Payment Solutions℠, let’s ensure your business soars, not your expenses. Join the cost-effective revolution today!
Here’s how I set the adset on Facebook
- Budget: $10 Lifetime
- Product/Service: POS
- Ad Angle: Addressing the “cost implication” objection
- Targeted audience: Target with interest in Chase Bank (who else is better than prospects already interested in Chase Bank?)
- Placement: News Feed
- Optimization: Optimized for Traffic
Adset 3:
Goal: Meet the expectation of the group of “People who prioritize mobility in their business operations“
Landing Page: https://michaelnguyen.me/mobility-driven-pos
Headline Options:
- Empower Your Mobile Business: The Future of POS Awaits!
- POS That Moves As Swiftly As You Do: Upgrade to Mobile Mastery.
- Mobility First: Transform Your Business with Next-Gen POS Solutions.
Ad Copy:
- Business on the move? Keep up with the fast-paced world with a POS system designed for ultimate mobility. Chase Payment Solutions℠ offers smart POS systems that sync effortlessly over Wi-Fi or cellular networks. Your data? Safely tucked in the cloud, accessible anytime, anywhere. For small business owners embracing change, it’s not just about accepting credit cards—it’s about ushering in a new era of boundless opportunities.
- For the dynamic small business owner, every second and every location counts. Dive into a POS system that’s as mobile as your ambitions. With Chase Payment Solutions℠, leave wired constraints behind and embrace the freedom of remote access, cloud storage, and seamless integration. When your business has wings, ensure your POS system does too. Let’s soar together!
- In the realm of business, mobility isn’t a luxury; it’s a necessity. Upgrade to a POS system that understands this ethos. With Chase Payment Solutions℠, enjoy a smart POS experience that offers the convenience of Wi-Fi or cellular connections, and the security of cloud-based data storage. Small business owners, it’s time to move, evolve, and thrive with a POS system built for the modern age. Join the revolution today!
Asset:
Here’s how I set the adset on Facebook
- Budget: $10 Lifetime
- Product/Service: POS
- Ad Angle: meet expectation of the group of “People who prioritize mobility in their business operations“
- Targeted audience: Target with interest in Chase Bank (who else is better than prospects already interested in Chase Bank?)
- Placement: News Feed
- Optimization: Optimized for Traffic
Here are all the 9 ads being launched.
Fast-forwarding 24 hours to let the ads run.
Here’s the results
Campaign Numbers:
-
- Ad budget: $10.71
- Total Impressions: 1038
- Total Reach: 983
- Total Clicks: 15
- Cost Per Click (CPC): $0.69
- CTR (all): 1.45%
Ad Results:
Summary:
- Reach and Impressions:
- ‘Objection | Headline 1’ has the highest reach and impressions, with 257 and 266 respectively.
- ‘Objection | Headline 2’ has the lowest reach and impressions, both being 10.
- Frequency:
- All ads have a frequency close to 1, which means on average, the ad was shown once to each person. The highest frequency is 1.06 for ‘Objection | Headline 3’ and ‘Mobility | Headline 3’.
- Cost Efficiency:
- ‘Affordability | Headline 3’ has the lowest cost per result at $0.42 and also the lowest cost per link click.
- ‘Mobility | Headline 2’ has the highest cost per result and cost per link click, both being $1.66.
- Amount Spent:
- ‘Objection | Headline 1’ had the highest amount spent at $2.89.
- ‘Objection | Headline 2’ had the least amount spent, which is $0.04.
- CPM (Cost per 1,000 Impressions):
- ‘Objection | Headline 3’ has the highest CPM at $14.64.
- ‘Objection | Headline 2’ has the lowest CPM at $4.00.
- Link Clicks and CTR (Click-Through Rate):
- ‘Affordability | Headline 3’ has the highest number of link clicks (4) and the highest CTR at 1.98%.
- ‘Mobility | Headline 2’, ‘A | Headline 2’, and ‘Objection | Headline 3’ all have just 1 link click, but ‘Mobility | Headline 2’ has the lowest CTR at 0.64%.
- Ads without Results:
- ‘Mobility | Headline 3’, ‘A | Headline 1’, and ‘Objection | Headline 2’ do not have any results mentioned, suggesting they might not have been as effective or the data might be missing.
- Ad Prefixes:
- Ads addressing Objection have the widest range in terms of performance, with ‘Objection | Headline 1’ performing the best in terms of reach and impressions, but ‘Objection | Headline 2’ having the lowest.
- Ads addressing Affordability seem to be more cost-efficient, especially ‘Affordability | Headline 3’.
- Ads addressing Mobility have varied performance, with ‘Mobility | Headline 2’ having the highest cost per result.
Analytics:
O: Objection
A: Affordability
M: Mobility
- Winning Ad:
- Angle: Affordability
- Headline: Modernize with Magic: Your Cost-Effective POS Transformation
- Total Impressions: 193 (18.5% of the campaign’s total impressions)
- Total Reach: 189 (accounts for 19% of the campaign’s total reach)
- Total Clicks: 5 (accounts for 33% of the overall campaign’s clicks)
- Cost Per Click (CPC): $0.32 (53.6% cheaper than the campaign’s CPC)
- CTR (all): 2.59% (⬆️ 78.6% higher than the campaign’s CTR)
- Top 3 Ads
- 1st Place with Headline: Modernize with Magic: Your Cost-Effective POS Transformation
- 2nd Place with Headline: Empower Your Mobile Business: The Future of POS Awaits!
- 3rd Place with Headline: Unbeatable Value, Unparalleled Experience: Your POS Upgrade Awaits!
- What-If Revenue Impact Analysis
- What If Chase went ahead and ran another campaign based on what i suggested below, what would be the revenue impact?
- Let’s make some assumptions:
- The conversion rate is 1% (given the normal conversion rate of 2%)
- Chase POS charges merchants 2.6% + 10c for every transaction. Let’s assume a restaurant merchant has an average 1000 transactions/mo with an avg order of $25/order.
- Total fees collected by Chase: 2.6% of (1,000 transactions * 25) + 10¢ × 1,000 transactions = $750/mo or $9,000/year/merchant
- Double down on the winning ad by increasing the number of clicks on winning ads to 10,000 clicks (Cost = 10,000 clicks x $0.32 = $3,200)
- Let’s calculate the potential revenues
- Assuming merchants would stay with Chase POS for an average of 12 months.
- Sub-par scenario: At 1% conversion rate (the industry standard is 2%), 10,000 x 1% = 100 merchants signed up
- Revenue = 100 x $750/mo x 12 months = $900,000
- ROI = 22,440% ((100 * $750) – $3,200) / $3,200
- Worst-case scenario: At 0.1% conversion rate, 10,000 x 0.1% = 10 merchants signed up
- Revenue = 10 x $750/mo x 12 months = $90,000
- ROI = 134% ((10 * $750) – $3,200) / $3,200
As you can see, whether you are in the worst case or sub-par scenario (under 2% industry standard), you are still ahead in term of ROI (134% – 22,440%).
Takeaways/Insights
So in this thorough case study, I extensively analyze, examine, and audit Chase’s ad relating to the POS system, then come up with new ad ideas based on 7 analysis “lenses”, and finally validate ad ideas by running them through paid FB traffic to determine the winning ad.
- Having only one control ad can seriously underperform your entire campaign because of the lack of A/B Testing, targeting limitations, ad fatigue, risk management, and optimization challenges.
- Having multiple analysis “lenses” is the foundation to come up with ad ideas addressing customers’ needs, wants, objections, pains, and frustrations. Without additional analysis “lenses”, you are more likely to get “stuck” with boring and mediocre “features & benefits” angle.
- Ideas & creatives are the name of the game.
- As you notice the top 3 winning ad, they are winning ads from 3 different adsets.
- Specifically, for the “Affordability” angle, the winning ad is #1. For the “Mobility” angle, the winning ad is #2, and for the objection related to price, the winning ad is #3 (from the screenshot above).
- Your competitor Square has 270 different ad results and I don’t see any reason why Chase can’t at least match the amount of effort of Square or even raise the bar.
- As you are reading through the blog, I try to simplify for brevity but it’s a much more involved and time-consuming effort to go through all 7 analysis models to sift through ideas and come up with the best one.
- Furthermore, upon having ad ideas, setting up ads is another challenge because ads must comply with Meta’s advertising guidelines. As a result, the ad you like may not get approved to run and you have to get around that.
Next Step
- Double down on the winning ad and amp up the budget on it because I’ve done the homework for you, all you need is to increase the ad budget.
- I share with you ideas from 7 different analysis “lenses” and I just pick out 3 analysis lenses and one idea from each analysis model. You should have plenty of ideas to distribute across your team and create more ads.
- “Second Opinion” Package
If you are a 7-figure business owner and already run paid ads and need someone to critique your ads for a potential makeover, go ahead and order my “Second Opinion” package.