COOP by Ryder

Case Study: COOP by Ryder

COOP by Ryder is a commercial vehicle-sharing platform the aim is to help businesses improve fleet optimization. Owners and renters join the platform to either rent out their idle vehicles to turn them into a steady, new revenue stream or to find rental vehicles in their market to temporarily increase load capacity. Mochee began with COOP in 2019, when the platform was only available in three markets. It has continued to grow its organic social and social advertising campaigns in proportion with the company’s rapid expansion across the US. In 2022 COOP expects to be available across the continental US. The purpose of Mochee’s efforts is brand awareness in available markets, with the direct creation of user accounts as the overall objective.

There are a few major pain points inherent in the social advertising campaign. The target audience is small, with a high threshold of requirements for users. Many of these, like the length of time a business has had a Department of Transportation (DOT) number, cannot be targeted within the platforms. The second is the concentrated messaging to accumulate rental supply on the platform, which runs counter to the 2020-2021 nationwide supply chain trend of lack of inventory. A higher value is placed by the client on acquiring Owner leads (businesses who had trucks to list for rental) than rental accounts.

What we did

To reach the KPI of COOP account creation, a robust ad strategy with a multi-tiered approach across multiple platforms is employed. This has grown from $2-6K a month in 2019 and 2020 to approximately $10K a month in 2021, to an expected $1M spent in 2022.
In April 2021, as a direct result of a LinkedIn ad, Sharp Transport signed up as an Owner of COOP. In the first five months after joining the platform, Sharp Transport generated $144,844 by renting their 53’ dry van trailers to other businesses through the COOP platform. The client reported that it was one of the top five largest earning accounts created in 2021 across all efforts (social, digital, print, referral, …).
The success of Sharp Transport leads to the client using their story as the focus of a blog post and case study and featuring them in the video. Mochee increased the visibility of the story, using the blog and video for content for both organic content in the form of testimonials and statistics, as well as for ad content.

Highlights

The 2021 social advertising campaigns run by Mochee for COOP garnered 646 total leads, with 65 converting to active accounts as of January 2022. The cost-per-account was approximately $1,700, factoring only the web click and lead ads with lead accumulation objectives. The nearly 10 percent conversion rate is on track with the conversion rates of COOP’s other advertising campaigns, including digital media and more than print media. For this reason, the client has exponentially increased the 2022 budget for social advertising to existing and new markets, providing an expanded opportunity to experiment with additional types of ads on social media.

Category

Social Media Management, Graphic Design, Photography, Videography, Social Media Advertising

Client

COOP by Ryder