How NetBrain Converts High-Revenue Opportunities with LinkedIn Conversion Tracking
October 10, 2016
This guest post was contributed Priyank Savla, Digital Marketing Manager of NetBrain.
If you are a data-driven B2B marketer like me, here is what success looks like:
You launch a campaign, your audience loves your content, and you generate lot of qualified leads.
However, we know that not all qualified leads result into high-revenue opportunities and deals. NetBrain is an enterprise software company that offers businesses a platform to visualize their network and automate virtually unlimited tasks. Our license cost scales based on size of customer’s network. So we can have deals ranging anywhere from few thousand to several million dollars.
So we have to analyze our campaigns carefully and treat high-revenue opportunities differently. Here is how we accomplish this using the rich first party data of LinkedIn:
Create Segmented Campaigns
Our biggest deals come from large enterprises that typically have over 10,000 employees. So one of our campaigns would target only IT Managers, Directors and VPs from those organizations with more than 10,000+ employees. People with these jobs titles are likely to have strong influence in making decision in buying our product.
Network engineers play an important role in validating our technology for their companies. We segment them in variety of campaigns based on their seniority and size of company. This segmentation allows us to dedicate different budget amounts and set “value bids” depending on audience we target.
Cost Per Lead Tolerance
How do you calculate your cost per lead (or conversion) generated through LinkedIn?
Do you look at the number of unique visitors on conversion pages or find LinkedIn-tagged leads in your CRM or marketing automation tool?
That’s the way it was done in the past. But you do not have to do any of that anymore (at least on a day-to-day basis)! LinkedIn conversion tracking shows you conversion data directly in the LinkedIn Campaign Manager. This way you can see cost per conversion based on various campaigns.
By using segmented campaigns with conversion tracking, I now have the ability to see how my cost per lead varies based on seniority of my audience and their company size. This capability allows us to tolerate higher cost for leads that have potential of converting into high revenue deal.
Now with conversion tracking, we not only simplified performance tracking and attribution, we can also zero in on our best-performing campaigns. We have been updating our campaign with insights gained from LinkedIn conversion tracking. At this time, 94 percent of leads generated through our campaign are sales-accepted.
I highly recommend all LinkedIn advertisers to implement conversion tracking. It only takes five minutes to set up, and you can see the results immediately.
For information on how to make the most of LinkedIn Sponsored Content, download "Laser Focus: 10 Ways to Optimize Your LinkedIn Sponsored Content" today.