"We need to boost lead flow and improve the visibility of our marketing data."
When we first started working with this customer, they had ambitious goals for the coming year. They were launching a new product, and to support sales goals, the marketing team needed to generate an average of 150 leads per month. Additionally, they were dissatisfied with both the visibility of their marketing data and their traditional agency’s cost structure (40% ads / 60% fees).
"Ok," we said. "First, let's get rid of the agency fees and start improving visibility with GoConvert. Then, let's take a deep dive into your existing data, build audience and persona models, and use that intel to boost lead generation and create actionable ROI metrics."
A deep dive into existing lead and customer data yielded a good bit of actionable intelligence. This intel helped us build four targeted audiences, to whom we advertised across four channels. Since we don’t charge any fees, we were able to dedicate a higher portion of the customer’s marketing budget to ad buys. These efforts immediately helped boost lead flows and maximize the ROI of paid ad spending.
"Let's also decrease wasteful spending and improve the holistic health of your overall pipeline. GoConvert drives substantially better results than traditional digital advertisers and marketing agencies so we expect to improve your marketing KPI's substantially."
The data we collected helped the customer put upward pressure on awareness and engagement, keep downward pressure on overall spending, exceed important digital marketing benchmarks, and maintain best-practice spending ratios. After about six weeks, the customer’ funnel became ultra-healthy and ultra-cost-efficient. Click-throughs and lead conversion rates increased substantially while spending dropped precipitously.
How does GoConvert help?
By combining the self-sufficiency of an application with the expertise of an agency, GoConvert used four actions to help this customer quantify results, maximize ROI, and achieve its marketing goals.
GoConvert uses all available data resources — social media intel, Google Analytics, contact information, and other digital signals — to continually fine-tune audience assumptions. We always know whom we’re speaking to and how well we’re resonating with them.
Lead Generation & Nurturing
We use a series of audience-specific landing pages to generate a steady stream of leads. This allows customers to nurture prospects along a well-defined conversion path and creates additional front-line intelligence we can use to fine-tune our various audience hypotheses.
Measuring, Analyzing, Reporting, Learning & Fine Tuning
Data & Discoveries
Working with GoConvert is an adventure. Our customers usually start with one set of assumptions. Then, working side by side, we discover all sorts of exciting, unanticipated things. Steering into these discoveries helps maximize the ROI of overall marketing spending. This was certainly true this customer’s case.
Historically, the customer struggled to generate leads from its paid marketing efforts. When we began working with them, < 1% of CRM contacts with a known source were from paid campaigns.
During our deep dive into their data, GoConvert discovered the customer was effectively paying to duplicate its own organic search engine performance. That is, they were exclusively spending on Google Ads that targeted keywords for which it placed highly organically: namely, its own brand and product names. This prevented it from generating leads from more generic, audience-appropriate keywords such as “network security,” “VPN,” and “firewall.”
Once we adjusted this as part of our overall alignment process, click-throughs and leads skyrocketed. In four months, the customer’s monthly average paid lead count increased from 1.42 to 177.50: a 125x or 12,400% increase.
Different companies and different campaigns tend perform better on different ad channels. When a B2B company knows the job titles it wants to reach, LinkedIn can drive amazing results. When one has behavioral or interest data to work with, Facebook works really well. When a company has a precise sense of the problem it’s trying to solve, Google Ads are often the best resource.
In this customer’s case, we had a blend of intelligence. We had a sense of the job titles we wanted to reach, we knew our personas’ interests, and we knew the problem the customer’s products solve.
To find this customer’s highest performing channel, we used a series of low-cost ad experiments to identify its highest performing, least expensive ad channel. The results were unambiguous: Google drove more leads with a CPL that was a fraction of the other three channels.
Once we adjusted spending based on this intelligence, we saw a dramatic decrease in average CPL. Now that its audience insights, ad channel, and content are neatly aligned, the customer is paying just $6.19/lead: 91.75% less than the $75 industry average.
Since we’re continuing to put downward pressure on lead costs, in a few months, this customer’s leads will essentially be free.
The Virtuous Gap
While working with this customer, we’ve also been also able to sustain one of our most important abstract models: the “virtuous gap.”
As we fine tune a customer’s audience data and use that intel to improve the alignment of channels, messaging, and creative, we begin minimizing spending (cost per click or “CPC”) and maximizing engagement (click through rate or “CTR”).
This is marketing in its most harmonious state: putting sustained downward pressure on CPC (red) while simultaneously putting upward, even exponential pressure on CTR (gray). More often than not, the virtuous gap has positive collateral effects on lead flows as well. In this customer’s case, it certainly did.
“How has GoConvert helped you?”
In just a few months, GoConvert increased our average monthly paid leads 125x and helped us find our highest impact/lowest cost ad channel. The last time I checked our account dashboard, we had ad click-through rates of almost 8% and were paying virtually nothing per click: $0.02-.03. At $6.50, we’re also paying substantially less per lead than the $75 industry average.
Thanks to GoConvert, our funnel is ultra-healthy and ultra-cost-efficient. We’re saving money and growing at the same time. If there’s a better way to keep our funnel tightly aligned while decreasing wasteful marketing spending and increasing overall ROI, I haven’t found it.
Head of Demand GenerationNetwork Security Company
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