As the market leader in Graph Database technology, Neo4j needed to raise the number Enterprise-level leads that they were receiving from their paid search campaigns. Neo4j has been seeing high growth in both the North America and EMEA regions and needed a solution that scaled up their campaigns in budget while simultaneously seeing lower cost leads and lower cost Enterprise leads that have a higher probability to generate revenue.
Obility and Neo4j worked together to implement the storage of the unique Google Ads Click ID in the lead database. This new metric is key to unlocking the relevant user metrics in understanding not just which campaigns generated the valuable Enterprise leads, but understanding the specific user demographics, user interests, and company information. This allowed us access to a plethora of extra optimization metrics inside of Google Ads that allowed us to see these high-quality leads separate from the standard form-fill conversions.
As for bid adjustments, we used individual dimensions that Google Ads makes available (Age, Household Income, Device, Day of the Week, etc) and determined which areas had the highest probability of becoming an Enterprise Lead. We noticed that some areas (for example 18-24 year-olds) saw a high form fill conversion rate and a very low CPA on average, but those conversions had a low probability of becoming Enterprise leads. With this information we bid down in the areas of poor performance and bid more aggressively in the better performing areas. In the areas without a strong correlation (or without a statistically significant volume of data) we left alone.
- Implemented the Google Click ID and began capturing it for new Enterprise-level leads.
- Regularly uploaded the Click IDs back into Google Ads which allowed Google to make the connections between the lead and meta-data on the type of searcher who was generating these quality leads.
- Gathered this data for several months until we had enough (at the end of November) to decide on bid adjustments based on this information.
Compared to the 5 months preceding the bid adjustments, we saw a 39% decrease in the Cost per Enterprise Lead. This was while we saw an average monthly budget increase of 36%.
November had been our largest Enterprise lead month on record with December coming down a bit during the holiday. We were able to see strong Enterprise Lead growth into the first half of 2019.
In evaluating the performance of this initiative, the main metric we looked at was the Enterprise conversion rate, or the ratio of the total number of Enterprise Leads over the total number of Conversions (form fills). As we are using Google Click ID data to optimize for Enterprise Leads, the quality of the leads overall should be increasing and therefore the overall percentage of quality Enterprise Leads should increase.
Compared to the 5 months before we made these changes, the Enterprise conversion rate increased 44%.
Neo4j enables organizations to see business value in relationships and connections in data. Thousands of organizations, including Fortune 500 companies are using Neo4j to leverage connections in their data including recommendations, impact analysis, real-time logistics, fraud detection, and risk management. Visit their site.
We have one purpose: help B2B companies generate demand and increase revenue through online marketing. Located in Portland, Oregon and founded in early 2011, we’re a fast-growing agency with a global client base ranging from early stage start-ups to multinational enterprises. Our focus is on B2B companies and we’re proud that our growth has been due primarily to client referrals.