JB Markets

JB Markets operates in the securities and derivatives space, serving both wholesale and retail traders and investors. The acquisition challenge was direct: hit an A$50 cost-per-lead target on net new trader sign-ups, in a category where the average buyer does extensive research before opening an account.

The campaign window coincided with Bitcoin Futures launching on the CME, drawing speculative attention from prospective traders far beyond the typical securities-and-derivatives buyer base. The system had to convert that attention into qualified leads at a defensible cost, without burning budget on speculators who would never actually open an account.

Two offers ran in parallel. An ASX report, a short e-book-style gated document, was delivered both via landing-page conversion and via Facebook Lead Gen ads, with the two conversion funnels A/B tested against each other.

A Bitcoin Futures campaign launched in line with the CME's Bitcoin Futures launch, capitalising on speculative attention drawn to the category at the time. The Bitcoin proposition worked particularly well due to news coverage and rapidly visible price action.

Ads ran across Facebook, Google Display and remarketing, with continuous A/B testing as the campaigns accumulated data.

After the first week, leads were coming in at A$40, A$10 below the A$50 target. As A/B testing accumulated data, the CPL was driven down to A$20, 60% below the A$50 target.

At that point the campaign had to be paused. JB Markets's internal sales team could not service the lead volume the campaign was generating. The pause held until the client streamlined their internal processes to absorb the volume the campaign was capable of delivering.