We were introduced to a SaaS client through a fractional CMO partner of ours. The SaaS company was in the productivity monitoring, time tracking and workforce management space. They had someone in-house running their Google Ads, but the new CMO felt that there was probably meat being left on the bone and that they could probably be getting better results for what they were spending. We conducted an audit to confirm if this was the case.
The account structure in Google ads was highly consolidated with few levers to control spend against top and bottom performers. Additionally, all conversion goals were weighted the same even though a customer is worth significantly more than a lead. There was also no retargeting support with in Google or Meta and very little activity in Meta ads in general. All of this resulted in an extremely high volume of low quality leads and low conversion rates to closed deals.
First we rebuilt in the Google account in a new structure with more segmented campaigns which allowed us to better direct spend between top and bottom performers. We also broke the campaigns out by geographic region as this company had clients of varying values in 60+ countries.
Next we stopped optimizing for leads completely and instead only optimized for trial account activations (a mid-funnel goal) and closed deals.
Later after that we analyzed deal value by country and used this to make budgeting and bidding decisions in order to put the most resources and efforts against the countries with the highest ROI (lowest acquisition cost and highest LTV.)
And finally we added on Meta ads retargeting allowing us to get in front of site visitors and leads more frequently and work them down the funnel faster. Meta prospecting was also added which created a new acquisition channel and made us less reliant just on Google.
All of the aforementioned changes resulted in significant improvements in paid ads performance including a 37% increase in closed deals in less than 6 months and a 97% increase in closed deals for the same time period year over year with no spend increase.
By optimized for mid-funnel conversions and closed deals instead of leads we also reduced the number of leads coming into the funnel, reducing the sales teams’ workload and allowing them to spend more time on fewer, higher quality leads that closed at higher rates.
Finally, average deal value increased by 30%+ as well due to increased sales execution from the improvement in lead quality and through focusing campaigns predominantly on the territories with the highest customer lifetime value.
Ultimately this all culminated in multiple consecutive record setting quarters for the company’s top-line revenue and profitability.
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