Challenge
Plunge was founded in 2020 as a cutting-edge and accessible direct-to-consumer cold plunge wellness solution. After initial success, including an appearance on Shark Tank and mentions from several prominent influencers like Lizzo, Josh Brolin and Aaron Judge, Plunge faced challenges scaling paid media performance beyond branded search and high-intent retargeting, while maintaining a profitable cost per new customer acquisition goal. Additionally, Plunge needed to overcome the hurdles of marketing during a recessionary period and an influx of lower-cost competitors in the market.
Approach
Optimal took an innovative and data-driven approach to tackle Plunge's challenges. Together, the teams developed a robust, dynamic, full-funnel paid media plan and social strategy, leveraging AI technology, unique bidding strategies, and real-time optimization. Optimal utilized AI-backed visuals with empathetic messaging to reach new audiences and took advertising platform algorithms to new heights.
Optimal's innovative approach included using Meta AI to target new audiences based on ad image content, leveraging user-generated content to scale content production, and tapping into the best-performing organic posts and videos. They also challenged the status quo by testing value-based bidding against a custom bidding strategy that capitalized on the brand name "Plunge" and its association with the wellness and fitness space.
Optimal's approach was not limited to paid media alone. They also applied inventive strategies to Plunge's paid social campaigns, leveraging Meta AI tools to test audience targeting based on imagery included in ads. This approach resulted in a 4.2x increase in purchase volume from females within the target audience, a customer segment that was lagging previously.
Results
The collaboration between Optimal and Plunge led to exceptional results and demonstrated the power of innovation and creativity in marketing, with a paid acquisition purchase volume increase of a remarkable 972% year-over-year. The campaign made Plunge a household name and increased brand recognition, resulting in a total sales increase of over 1,000% in just a year, 972% of which can be attributed to paid digital acquisition alone.
The qualitative results were equally impressive: Plunge's advertising efforts garnered attention from several publications and maintained its position as a top-ranked brand despite the emergence of lower-cost competitors. Optimal's ownership mindset and strategic use of automated tools, combined with human intervention, allowed them to make informed decisions based on Plunge's specific circumstances and needs.
Through Optimal's innovative and data-driven approach, Plunge was able to overcome their challenges, achieve remarkable results, and establish themselves as a leading brand in the cold plunge wellness industry. This success story highlights the importance of combining cutting-edge technology with human expertise to deliver outstanding marketing outcomes.
Contact us today to learn about how Optimal can help you win.
