BI-Powered Strategy Powers New Rentals
Getaround makes car rental easier, cheaper, and more flexible by making idle cars available to rent. After Metric Theory helped scale up new renters, a new issue emerged – not enough cars to meet new demand! The teams mined geographic and user data to find breakthrough pockets of growth.
Drum Digital Advertising Awards 2019 Finalist: “Best Use of Data”
Data Mining & Audience Bake-Off
Getaround and Metric Theory used business intelligence tool Looker to analyze data on historic supply leads to find demographic ‘sweet spots’ to mix with different types of location overlays to test quality and efficiency. They also purchased car ownership audience data and onboarded it into Facebook.
With this testing, the teams found their ideal audience combination. Looker data was then used to find like markets that could be combined to scale the learnings. Those markets were combined into campaigns to leverage Facebook’s AI-powered lookalike technology that improved the accuracy and speed of rental acquisition.
Lead quality data from Looker is now synced back for every unique ad and audience combination to know the end result of all leads driven – from initial eligibility to the revenue of live cars.
Ad Message Testing
The teams held a joint session on customer journey to explore message tests on what the challenges are to getting users to commit to renting their cars. How do you target people who want to rent out their cars when they don’t even know that’s an option?
They identified messaging themes such as how much money you could make, lifestyle gains from the extra cash flow, Getaround’s security and insurance for peace-of-mind, and free parking in major cities. This testing proved to be a huge success at finding message and audience combinations that drove the right kind of initial interest, leading to higher activation rates, longer times on the road, and more earnings for both car owners and Getaround.
"When we need something done, it happens. And it happens in at the speed we need it done. It feels like they're trying to make our business better everyday."
Feed vs. Messenger Ad Testing
Beyond message testing, Facebook offers a huge range of ad products you can use to reach your audience. Getaround and Metric Theory furthered their testing by building plans with Facebook Messenger Ads and Lead Ads in addition to testing image and video ads in the feed, looking for the best user experience and results.
Through testing, the teams found that while some ad types had a strong conversion rate and lower cost per lead, the leads produced had lower quality and eligibility level than other types. Using this insight, they were able to quickly optimize spend toward campaigns that, despite having higher cost per lead at first glance, ultimately drove higher ROI for Getaround.
72%
increase in Supply Leads
53%
increase in Qualified Leads
44%
increase in Live Cars
