What was the scope of their involvement?
We decided to go ahead with them on three services. Favoured helped with our acquisition by setting up campaigns on the main social ads with the marketing budget of £5,000 (approximately $6,000 USD) a month.
They gave us the proposal to split that budget on a few marketing channels. We would test them and optimize them. As a target, we had a cost per install (CPI) and a cost per acquisition (CPA). They also worked on the engagement to improve our formal engagement inside the app.
The team optimized our funnel and set up in-app marketing campaigns, emails that are sent when users sign up, and push notifications to reengage with the customers who have downloaded the app.
Last but not least, they've provided us with design services. We have a package with unlimited design services per month. They can create an unlimited amount of creative assets as we didn’t have any. These included images, videos, and things we need for the ads.
What is the team composition?
In total, we’ve worked with at least 5–6 people from their team. We have one project lead, an account manager, a design lead, and then we had people who were covering off for holidays or coming on for specific social networks where they were experts.
How did you come to work with Favoured?
They reached out to me two years ago on LinkedIn to offer their services. We didn’t have our startup at that time, but we had a conversation about what they do. George (Co-Founder) was really knowledgeable when it came to mobile marketing.
He gave us a lot of insight at that time on how we should work on our marketing budget, and we used that when we did the funding for our startup to do our cost estimation for marketing and acquisition.
Two years later, when we had the funding, the app was live, and we had marketing challenges, we reached out to them. Especially during the COVID-19 crisis, we wanted to use that time when people were stuck at home to get them more engaged with our app.
How much have you invested in them?
We’ve spent around £40,000–£50,000 (aproximately $52,000–$65,000 USD).
What is the status of this engagement?
We began working with them in April 2020, and we are still working together.