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Previously, LinkedIn campaigns that were run using Sponsored Content were expensive, especially when targeting New York audiences. The cost per click could reach as high $12-$15, and the resultant cost per lead from click, to website, to signup page was high.
I decided to leverage direct messaging on LinkedIn, which yielded a cost of $0.5-$1 per message. This targeted, individual and more intimate approach also yielded a 50% open rate, which significantly decreased cost per lead.
The Galien Foundation is described as the 'Nobel Prize' for pharmaceuticals and biotech. Each year they hold an award gala in NYC featuring Nobel Prize Winners, and illustrious guests such as Anthony Fauci, Bill Clinton, and the UN Secretary General.
The cost per ticket to one of these events can be $1,000-2,000+
Up until COVID, The Galien Foundation was more accustomed to operating offline than through digital marketing channels, but had to quickly adapt events and platforms.
I realised that they had a list of previous attendees on email, that was unused.
I also realised that their target audience was heavily active on LinkedIn (executives at large pharmaceuticals and biotech companies). Consequently, we were able to reach out to past attendees via email to ask them if they were interested in returning.
On top of that, I was able to target new audiences through creating a similar targeted audience on LinkedIn. This allowed The Galien Foundation to advertise for the spare tickets and occupancy that was left in their events.
Previously, LinkedIn campaigns that were run using Sponsored Content were expensive, especially when targeting New York audiences. The cost per click could reach as high $12-$15, and the resultant cost per lead from click, to website, to signup page was high.
I decided to leverage direct messaging on LinkedIn, which yielded a cost of $0.5-$1 per message. This targeted, individual and more intimate approach also yielded a 50% open rate, which significantly decreased cost per lead.
Email Marketing,Paid Ads,Marketing Strategy
Technology
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Existing challenges within the account limited their ability to test new prospecting strategies and limited their growth potential. For example, prior to our involvement, the majority of the budget was dedicated toward branded search campaigns, as many competitors were bidding on their branded terms in hopes to capture away TaxJar's most valuable traffic. Unfortunately, this fierce competition resulted in higher-than-expected costs and required much of the focus, energy, and budget.
Even after successfully freeing up budget from the branded search issues, profitably acquiring new business was no easy feat. Tax services are consumed on an as-needed basis. A brand awareness effort would only be effective if the messaging was powerful and the timing was perfect. That is, even if a business owner hears about TaxJar and thinks they should sign up for the services, it’s typically something that is pushed on the back-burner.
More than ever, if would be crucial to meet their potential customers when they are actively in the market for tax services and in the medium in which they would best respond to our messaging.
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