How Varonis Decreased Avg Cost Per Lead by 92%
Varonis provides actionable data governance software solutions. This ensures only the right users have access to the right data at all times.
Average cost per lead during Q4 of 2016 was too high to accomplish a strong ROI and Facebook targeted a broad range of IT professionals. Some ad groups had a cost per lead as high as 4x the target CPA threshold.
- We began very detailed A/B ad testing to discover the most appealing way to deliver this content to the target audience. We discovered the lowest cost per conversion demographics and drove budget to those groups which were most engaged and better matched Varonis’s target persona.
- Channel targeting was narrowed to Facebook. Excluding Instagram allowed us to drive more budget into Facebook which was a stronger channel.
- We also launched a direct leads campaign allowing the Facebook leads to funnel directly into the client’s HubSpot feed for processing. This campaign has allowed potential leads to fill out the lead form without needing to navigate away from Facebook. The path from interest to lead is now much more direct.
Why This Worked:
- The direct leads campaign took the midde man (the client’s landing page) out of the equation and expedited the lead gathering process. This resulted in a more streamlined experience for the user and more leads were gathered at the same cost.
- Before re-launching the campaign we decreased Facebook channels that were performing poorly, such as Instagram, which had a large spend but very few quality leads. This resulted in reduced waste across all ad sets.
- Audience segmentation allowed us to better tailor messaging and push budget to audience ad sets that were performing at the lowest CPL. Budget for poor performers was shut off after the test period.
- Cost per lead in their new direct lead campaign collected leads at just 10.75% of the target CPL threshold.
- Demographic ad set segments increased from just 3 to 7, improving ability to monitor how different groups react & engage with the ads.
Additional remarketing campaigns have been launched with audiences segmented by their latest site visit. The fresh remarketing audiences (7-30 days of site visit) receive more budget. We’re also testing a video campaign and ongoing new initiatives such as whitepapers and online course content.