How Study.com Used Geo Testing to Drive 6% Lift
Study.com had saturated its core performance channels nationally. Growth required expanding into upper-funnel video, but not everywhere. M-Squared used geo-level causal insights to identify which DMAs were primed for incremental demand and which were already saturated.
Study.com had maxed out performance channels like SEO and PPC. The next growth frontier was upper-funnel video (CTV and YouTube) but the CFO needed proof these channels would drive new customer acquisition, not just impressions.
Our Approach
M-Squared designed geo-matched market tests across 41 DMAs, with holdout and scale cells for both YouTube and CTV.
The Results
- CTV drove 6% incremental lift at 3.8 ROAS
- YouTube drove 3% incremental lift at 2.5 ROAS
- Annualized projections showed a path to 20% revenue growth by diversifying into upper-funnel channels
Study.com gained the evidence to confidently reallocate budget into brand-building video, backed by causal proof the CFO trusted.
