By Zuhur Ahmed, Digital Acquisition Associate
Quora is a popular question and answer site that has it’s own advertising platform in May of 2017. However, this platform only peaked our interest recently when the platform launched conversion optimized campaigns. In this month’s DR Insider article we’ll describe what Quora is, what types of campaigns perform best on this platform and lastly the pros and cons.
Northern Lights Direct is always testing new ways to drive results for our clients. Most recently, we ran several test campaigns on Quora. Quora is a popular question and answer site that launched its own advertising platform in May of 2017. However, this platform hadn’t peaked our interest until recently, when the platform launched conversion optimized campaigns. Below we will describe what Quora is, what businesses are best suited for the platform and the pros and cons of this platform.
What is Quora?
Today, Quora is the most popular question and answer site online. All content is created by Quora users who are responsible for asking, answering and organizing the content. The answers are often framed as an opinion but, due to the ability to rank answers, the community often pushes the most informative answer to the top. Users will also collaborate and edit answers to make them more accurate. Quora’s user base has grown quickly since its creation in June 2009 and now boasts upwards of 300 million monthly users. The user breakup is balanced with a slight skew towards men (45% woman, 55% men), while the household income averages around $100,000 a year. This is an ideal user base for advertisers considering the potential buying power at their disposal.
Industries and Categories
In general, throughout our tests, Quora has delivered efficient incremental leads for direct to consumer and B2B campaigns, but we received the most volume with our B2B campaigns. Many B2B advertisers have issues using digital channels to reach other business owners but Quora appears to be a channel that effectively fills that need. For our B2B clients, Quora has been an effective way for us to drive efficient leads, although not always at the volume we would like. The reason behind this is mainly because of the content found on Quora: when looking at the Top 50 topics on Quora, Business currently has the 9th top position with 29.7 million followers on the topic, Entrepreneurship has 4.8 million and Small Business has 4.1 million followers. This leads us to believe that Quora likely has a large audience of business decision makers. What’s more, these users are highly intent-driven: they follow the feed and are actively seeking business advice and information. Given that a large portion of users are interested in business-related information, and the results we’ve seen to date, we think that Quora is a particularly effective channel for B2B campaigns.
Pros & Cons of Quora Advertising
In general, we have been impressed with the efficient nature of the platform. An obvious pro for the Quora advertising platform is the extremely low CPCs, which (although they’ll vary by industry and the level of competitiveness) can be as low as a few cents per click. Furthermore, the various targeting options available ensures that you can show specifically tailored messaging to users in the various stages of your sales funnel. For awareness, you might target topics pertaining to your business. For consideration, you can target interests. And lastly, for lower in the funnel users, you can use your lists to target your past website visitors or create a similar audience of your current customers. In terms of the downsides, the main one for us is that – despite the efficient cost per acquisitions and effective targeting options available – the volume just isn’t going to be anywhere near the levels seen with bigger networks.
Ultimately, Quora is not going to be replacing the core digital channels that we rely on for the majority of our volume, however, our results to date indicate that this is an effective channel to reach specific audiences (like business decision makers) and add efficient incremental volume to our digital campaigns. It will be interesting to see where else we can use Quora to drive results for our clients in the future.