Lead Generation Website and Online Campaign: B2B Case Study
Challenge
The company’s president wasn’t happy. He had expected more qualified leads by now. His marketing team had tried many initiatives to drive more leads, but they weren’t profitable due to their low lead generation rate. While their past changes to the lead gen process pushed the lead gen rate up, they recently seemed to have hit a wall at two percent (with only half being qualified leads).
In order to come this far, the head of marketing had squeezed as much as she could from usability best practices and testing. She realized that her web analytics tool, by itself, wasn’t going to provide the information she needed to get where she wanted to go. She was left with too many answered questions.
Key Unanswered Questions
A) Why are so many people abandoning the lead gen form? How do we fix this?
B) Why are only two percent becoming leads? How do we drive more leads?
C) How is the site performing for goals beyond onsite lead generation, such as increasing intent to purchase? Is a redesign needed or just minor enhancements?
D) How do we improve our campaigns?
Solution and Summary of Business Results
The head of marketing turned to KnowClick to answer these and other critical questions. We went beyond what web analytics tools can do by capturing “who” is visiting and how the site impacted perceptions, in addition to capturing visitor behavior at the website.
Based on the answers and insights we found, we recommended several “quick fixes” as well as long term improvements. Our client implemented these quick fixes in less than two weeks, and got the following results.
- The conversion rate increased by 85%
- The cost of driving a target visitor was reduced by 40%
- The additional leads generated without additional spending increased profit to the company by $580,000 per year
Needless to say, they were extremely pleased with the initial results. This success convinced them to take the more significant actions of overhauling the website to serve as the center piece of their lead generation efforts. The following is a summary of our findings:
A) Answers for: Why are so many people abandoning the lead gen form?
Our client had a very frustrating problem. 85% of visitors who viewed the lead generation form ended up abandoning it. They had followed usability best practices, had tried alternative versions, and done extensive analysis. But, the 85% dropout persisted and they didn’t know why. So, they turned to KnowClick.
Using KnowClick, we could see not just who completed the form, but also who went to the form and who abandoned it. This more complete view provided the answers they needed:
- The form isn’t the problem. The form works just fine for the target audience, as 60% of Decision Makers who view the form complete it. The high abandonment comes from “End-Users” of the product who represent the vast majority of visitors to this form. Only 10% of them complete it. (Our client doesn’t want them as leads, so their high abandonment isn’t an issue). This is why the abandonment is so high. It isn’t the form, it is the audience.
- The real problem is convincing the target to go to the form. Only 3.5% of Decision Makers view the form. Why? Because the messaging to drive them to the form focused on signing up to “see the product in use and try it yourself.” This works for those who are trying to decide which solution to buy. But it doesn’t work for the many Decision Makers who aren’t ready to try it yet. See: “Why are only two percent becoming leads” in this case study. They need more information about whether these types of solutions can help them. Offer them this information and more will become leads.
Results
From our findings, we recommended the creation of a separate form with a value proposition that appealed to those “just learning” about these solutions. Our client added this in less than a week and it contributed to almost one-half of the 85% increase in overall conversion rate.
B) Answers for: Why are only two percent becoming leads? How do we drive more leads?
It is a classic challenge. Our client knew a lot about the small fraction of visitors who convert, but little about the 98% who didn’t. The lack of this information hindered them from increasing conversion beyond 2%. They started to believe that a 2% conversion rate was their ceiling. It wasn’t. Continue>>
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