.webp)
Key Objectives:
- Increase Marketing Qualified Leads (MQLs): Generate relevant leads through paid ads across Google, LinkedIn, and Meta.
- Optimize Conversion to Sales Qualified Leads (SQLs): Efficiently move MQLs to SQLs through refined targeting and creative optimization.
- Maximize ROI: Manage ad spend to reduce cost per lead (CPL) and increase conversions.
Campaign Breakdown (January – March)
1. Budget vs. Spend and Lead Generation Performance
Here is a summary of the monthly performance with ad spend, MQLs, SQLs, and SALs:
2. Lead Funnel Performance: MQLs, SQLs, and SALs
BetterPlace has seen improvements in its lead funnel over the past three months. The table below outlines the total number of MQLs, SQLs, and SALs generated:
Insights:
- The highest number of MQLs were generated in March, with 41 leads.
- Despite the increase in MQLs, the conversion to SQLs was low in February and March, highlighting a potential area for improvement in qualification processes.
- SALs decreased slightly in March, suggesting that while lead volume increased, quality control for Sales Accepted Leads needs further optimization.
3. Cost Per Lead (CPL) Breakdown
The Cost per Lead (CPL) for each platform is summarized below:
Insights:
- Meta has consistently had the lowest CPL, particularly in March with ₹1,350.63, offering a cost-effective channel for lead generation.
- Google's CPL has fluctuated, with a significant increase in March to ₹10,690.61, suggesting that the targeting strategy needs to be adjusted for higher-quality leads at a lower cost.
4. Channel-wise Lead Generation Insights
Below are the insights on the lead performance from each channel:
Graph: Channel-wise MQLs, SQLs, and SALs Comparison
- Google Ads: Focused on high-performing keywords but faced challenges with increasing CPL in March. Google remains a crucial platform for generating SQLs despite its higher CPL.
- LinkedIn Ads: A strong platform for MQLs, with 11 MQLs generated in March. The testing of different creatives, including testimonial videos, helped improve performance, but SALs from LinkedIn were low in February and March.
- Meta Ads: Despite a higher volume of leads in March (24 leads), Meta showed a low CPL and was the most cost-effective source for MQLs.
5. Insights and Optimizations
- Refining Google Ads Targeting: Despite generating quality SQLs and SALs, Google Ads experienced a significant increase in CPL in March. A focus on better keyword targeting and bidding strategies could help reduce the CPL.
- LinkedIn's High CPL in January: The high CPL from LinkedIn in January was addressed by refining audience targeting and creative strategies. As a result, the CPL decreased in February and March, with significant improvements in the number of MQLs generated.
- Meta's Cost Efficiency: Meta's continued success in generating low-cost MQLs suggests that interest-based targeting is highly effective. However, the conversion rate to SQLs could be improved by refining the qualification process and focusing on more relevant lead segments.
Conclusion
BetterPlace's paid ads campaigns saw significant improvements in lead volume across Google, LinkedIn, and Meta. Although MQLs increased significantly in March, the conversion from MQLs to SQLs and SALs showed some room for optimization.
By focusing on Google Ads targeting refinement, LinkedIn creative optimization, and Meta interest-based targeting, BetterPlace is on track to scale lead generation efforts more efficiently and cost-effectively.
The overall outcome has been great with a pipeline of $500,000 being created in this quarter.
