The client needed to increase the number of qualified leads into their top of funnel to drive pipeline growth. While they were currently using a heavily paid lead generation approach most of the work internally was currently being directed towards maintaining existing flows.
In working with the client we decide to test a webinar approach. The client had used webinars 3 years prior but did focus their current strategy on events to drive pipeline. We utilized partner relationships and industry influencers as well as high level internal professionals to create a panel on an engaging topic in the industry. The program itself was developed as an Minimum Viable Program (MVP) in order to minimize cost of labor before proof of value.
The webinar had 560 registrants with over 200 in attendance live, resulting in approximately 250 Sales-Led leads and 310 Self Serve leads (distinguished by company size). In one week the leads from this webinar added $130,000 in qualified open opportunities. The success of the MVP lead to the Marketing team implementing webinars into their overall strategy at a higher frequency and has continued to produce leads for a consistent and sustainable pipeline segment.
The client needed to increase the number of users for their suite of over 27 different tools on a freemium pay model. We focused on 5 of the 27 apps based on high lifetime value (LTV) and an average conversion ratio from free to monthly or annual paid subscribers of 17%.
A Channel Acquisition Audit was conducted for the five top apps selected. We discovered a big opportunity with YouTube. There was a small steady stream of new users coming from their YouTube channel which hadn't added any new content in over a year. Existing channel assets were scrubbed for image, description and transcript accuracy with new search engine optimization and marketing recommendations to drive signups. Initially, no new content was created.
We increased acquisition in one quarter by 37% and in one year by 157% while maintaining high conversion to paying rates between 15-17% and no effect on churn rates.
When auditing the client’s business product we noticed a key gap in their self-serve customers. The client used a sales led strategy for companies over a certain size that taught key functions and features of the Dashlane product which resulted in increased sales. However companies that did not meet the size requirements were not given support for onboarding and activating in the product during their trial, resulting in an average of 12% conversion rate from this segment.
We focused on building an email on-boarding sequence for self-serve customers in trial. The sequence targeted key behaviors that we knew were valuable from sales team feedback and crafted the ideal early customer journey for the product. We used a combination of driving key behaviors, end user validation in the form of case studies and a bit of urgency in the messaging as the strategy to increase conversion.
Conversion rates increased to 19% (+7 points). The client also saw a 20% lift in initial number of seats bought and a decrease in average time to purchase from 11 days to 7 days.
The client heavily focused on attracting new customers and wanted help to drive expansion in their product. The client did not have a good understanding of data around expansion in their product and needed better definitions and expansion strategies as a whole.
First we sought to understand why their customers would expand and what triggers we could use to prompt them. We also wanted to increase the retention rate of annual renewals from its current state of 86%. We found two key points of data in our research. In general customers expanded through buying more seats, not upgrading tiers. Customers who did not renew had only activated an average of 32% of the seats they bought while customers that did renew had activated an average of 67%. We focused on upselling the number of seats by triggering an in product ask when they reached 90% active seats based on their plan. We targeted companies with less than 67% active seat ratios to help activate the seats that were already purchased.
In less than 3 months we raised the retention rates from 86% to 91% greatly increasing the total active seat ratios across all customers. The in product campaign resulted in a 10% conversion of seat expansion for the customers who met the active seat ratio.
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