Listed as the best coworking space by Webrazzi in 2019, they offer new-age office solutions from virtual offices for entrepreneurs to rental private office spaces for small and big-sized businesses. They lead the coworking space industry by introducing new solutions year-by-year.
Digital B2B marketing is generally evaluated based on the number of leads and cost per lead. Yet, it is wrong in many senses. A lead can be bad (irrelevant ones) or good. A deal can be won or lost. The case necessitates a different approach: lifetime value approach.
Lifetime value generated during a contract period with a client is based on the solutions they sign up for, the size of their team and their usage of add-on services, and even their influence on their networks in terms of new membership deals.
Both on the acquisition and on-site marketing, B2B marketing generally misses that the target audience is a human with personal and professional needs. Hence, the marketing campaign architecture must be designed by corresponding to those needs.
02 Our Approach
We are familiar with personalized ads in the e-commerce industry. However, the same approach is missing in B2B marketing. Based on on-site behavior including actions like form abandonment, interacted elements, visited pages, a prospect can be retargeted with more personalized contents on the acquisition side.
We set up custom tracking systems to optimize the performance marketing campaigns and the conversion rate. The tracking system helped us focus our marketing efforts on office space solutions with lowering occupancy rates. According to a study by Google, B2B purchasing decisions are made after 12 queries. So, with respect to the optimization of marketing campaigns, relying on the last-click performance must lead to wrongful termination of a successful campaign. We developed an attribution model to analyze the campaign performance.
In contrast to the competitors emphasizing the cost benefits, we highlighted the value propositions of the brand including the network, perks, flexible contracts etc both on the campaigns and on-site marketing.
We employed data-driven audiences based on the macro and micro conversion events defined on the website. Customer lists with lifetime value are employed to reach new potential members. New marketing channels like LinkedIn are used. New marketing programs are introduced with participation of sales, marketing and operations teams.
Also, new creative approaches are used such as IG Shopping for office solutions. Rather than maximizing the number of leads by using Lead-Gen campaigns on Facebook Ads, we used conversion campaigns to optimize the balance between the number of leads and the quality of leads.