The team had proven that there was demand for their product, but they needed help taking it to the next-level. With most software companies, the focus is on building a great product. But now, they wanted to take it to the market it deserved.
The company shared a lot of challenges that we see in a lot of the businesses we work with. Startups, by their nature, are different. There’s no blueprint when it comes to finding customers that’s easily applied to their business. Because of this, they were struggling to find significant traction outside of AdWords and some organic search rankings.
Their internal processes needed work. Trello was being used a CRM. There was no formalised sales process. In terms of reporting, they knew how many customers they had, but where they came from wasn’t as clear.
As a SaaS business, unit economics play a vital part in establishing the health of your company and informing customer acquisition. There was little knowledge of churn rate, CLTV, MRR & CAC.
Their content wasn’t optimised for search or a representation of the expertise that existed within the company.
Before we started delivering more leads, we needed to make sure they had the best chance of being followed up with efficiently. Implementing a CRM allowed us to do this. Pipedrive was chosen due to simplicity and focus on active Deals.
Facebook Ads and LinkedIn Ads were added into the media mix to great success. Although a lot of people would consider Facebook Ads a B2C play, they're currently one of their strongest lead generation channels. LinkedIn Ads, whilst more expensive on a cost-per-lead than other channels, consistently brings in highly qualified leads. AdWords, whilst still expensive, is no longer their main channel. Having been replaced by cheaper, high volume Facebook Ads and LinkedIn Ads.
To give them complete visibility into the health of their business, a product called ChartMogul was adopted and backdated with all of their customer data. ChartMogul gave us insight into their SaaS metrics (Monthly Recurring Revenue (MRR), Classifying MRR (MRR Movements), Annualized Run Rate (ARR), Average Revenue Per Account (ARPA), Churn Rate, Customer Lifetime Value (LTV), Customer Acquisition Cost (CAC). Using ChartMogul Custom Attributes, we also segmented this data by the sector, source, location and which product the user was using.
This insight opened up a lot of positive actions for us:
Using ChartMogul, we identified that there was a major difference in the impact of customers based on which product they were using. The decision was made to completely remove this product from their sales and marketing strategy. A bold move, but one which has allowed them to focus on
Whilst some of their marketing KPIs may have appeared to have suffered due to this decision as they lost a bucket of traffic that they no longer wanted to serve, their operational metrics like revenue and customer lifetime value all went through consistent month on month growth. Cutting things out of the strategy was a massive overall net benefit to the business that wouldn't have been possible without the insight of the data we had in ChartMogul.
To address the problem with content, we helped their source a professional copywriter who had experience working for top-level SaaS businesses in their niche at a fraction of a cost a lesser experienced, in-house copywriter would've cost.
In the first 12 months of us working with this client, their customer base grew 3x. And they’re still acquiring more and more customers each quarter.
New customers acquired by month - 6 months before we took over, and 11 months after. It's clear to see that our work had an immediate and lasting impact on new business. This is because we focus our efforts across short, mid and long-term strategies for success.
The Pipedrive implementation was so well received, a partnership was formed and they're are now listed on their Partners page. This partnership has also developed into a great source of qualified leads.
As we were now able to see close-rates by source, we were able to identify a source of leads that closed into customers 80% of the time. Once overlooked as they had no visibility of its success, this channel now provides over 50% of the businesses revenue and continues to grow at a rapid pace.
Whilst the quality of the content was improved immediately, it’s only recently that we’ve begun to see the real impact of optimising content for quality and search engines. After their in-house SEO left, we took over responsibility in July of 2017 and implemented a new strategy. The results below speak for themselves.
It’s hard to quantify the complete benefits received from the adoption of ChartMogul. Without it, the business wouldn’t be where it is today. They now have complete overview into the health of their business on one dashboard. The full details of the ChartMogul integration can be read on ChartMogul’s Blog.
We also opened up lead generation channels by including Facebook Ads and LinkedIn Ads into their paid media mix. Now, they provide more qualified leads at a lower CPL than paid search - something that seemed unthinkable at first.
As of writing, we’re now over 2 years of working with this client. We believe this is a testament to our continued focus on growth, never resting on our laurels and always seeking to provide incremental value for our clients.