Challenges
ProfitWell's primary challenge was managing the entirety of their demand generation in-house. The task was complex and time-consuming, encompassing both search and paid social, and limiting the ability to focus on other critical areas such as Business Development Representative (BDR) strategy. Additionally, there was a pressing need for a strategic Demand Generation partner to support growth without compromising lead quality.
42's approach
42 Agency was brought on board to help take over demand generation with the Head of Growth and add additional brandwidth to the small but mighty team.
Our approach to demand generation was comprehensive and collaborative, focusing not just on leads but quality of leads conversion rates and pipeline. ProfitWell had a robust freemium acquisition model so our effort focused on driving more mid-market and enterprise customers.
42 Agency undertook full ownership of the demand generation. We started with PaidSocial where the team had previously seen success taking ownership of LinkedIn and Meta campaigns:
Paid Social
Rebuilt campaign structure with objectives aligned to business outcomes
Leveraged product Interests, Job Titles, Roles and Company segmentation on LinkedIn to drive impressions and leads from key segments
Used 1st Party CRM Audiences, 3rd party audiences
Implemented conversions API and offline conversions for better data resolution
Engagement and time based re-marketing to stay top of mind for prospects.
Paid Search
Started with MaxClicks objective to get to stat sig conversions volume before converting to max conversions with target CPA
Focused on high commercial intent revenue keywords to qualified leads for sales
Ran Youtube, Display with Custom Intent and responsive ads to drive awareness
Implemented ROAS bidding and offline conversion with weighted conversions values.
Creative
Designed thumb stopping creative with the PW Studio team
Designed and built high-converting landing pages
Edited videos into short form social ads and Youtube Ads
Results
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The cost per MQL on LinkedIn was reduced by 40%.
Decreased cost per opportunity by approximately 62.4%, from $6,890 to $2,597.
Lead quality massively increased, with a significant reduction in unqualified leads.
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