- 13th September, 2022
How we reduced CPM from $119 to $18 in just 2 weeks for one of our B2B clients
About the Brand
The SaaS market is vast and marketing a B2B SaaS product needs constant innovation to thrive and stand out from its competitors. The Digital Prizm team had the pleasure of working with, Waith.io, a brand-new SaaS application that provides comprehensive business management solutions for affordable pricing.
The primary goal was to increase Brand Awareness and Acquire Users within the limited marketing budget for the campaigns, and this case study gives you an idea of the strategies the team used to decrease the CPM from $119 to $18 in 2 weeks.
The product was at the initial stage and had no defined Buyer Persona and Marketing Funnel. With limited insights on how to go about it, the client wanted to gather as much data from the campaigns and use them to forge ahead in the highly competitive SaaS market.
We conducted a detailed brand audit to better understand the market and mapped out strategies based on our findings. The client already had an existing website but received no traction from it. Thus, we had to revamp the website and UI/UX to make it more conversion-optimised and set clear KPIs that are in line with the client’s goal.
The Ultimate Solution
- A/B Testing
We initially designed a generic Google search ads campaign to understand the traffic and behaviour flow of the audience. We experimented with different ad sets and ad creatives for each tool (CRM, HRM, etc.) which targeted 5-6 countries for every campaign.
- Insights from Google Analytics
After running the paid campaigns for a month, we gathered interesting insights on Google Analytics. We deep-dived into the data and found out that the drop-off was mainly from the landing page that was not conversion optimised and lacked high engagement CTA’s. The CPM was also high as the conversions from the traffic were fewer than expected. We decided to completely revamp the website and simultaneously ran Brand Awareness campaigns on Facebook and Instagram to increase the brand’s overall reach.
- Campaign Optimisation
We decided to rework the campaigns focusing on each feature’s keyword volume, intent and popularity in a specific country by creating different ad sets and ad creatives. This time we decided to target three countries, particularly India, Singapore and the US, as the search volume for the keywords was relatively high. The three countries also had good traffic during the initial A/B testing. With the help of Google Analytics data, we created a detailed customer segmentation list and employed the data and insights in all the new campaigns. Within a few days of running the campaigns, we managed to increase the CTR for each feature’s ad campaign and also improved the page visit time of the new website.
The Ultimate Result/What We Accomplished
In 2 weeks, we significantly reduced the CPM from $119 to $18 and also helped them gain 50+ high-quality users. The bounce rate is also reduced by 37%. The campaigns are live (as of October 2022), and the brand’s seeing some great results with the Google Ads campaigns and has also acquired many more users as we speak. Furthermore, we aim to optimise the paid campaigns and help our client reach their end goal.