10:1 ROI for a Construction Tech SaaS Company

Introduction

As a fractional CMO executive, I was tasked with spearheading the development of a comprehensive lead generation strategy for a Construction Tech Software as a Service (SaaS) company. The company's existing approach relied heavily on free trials, resulting in a low conversion rate and primarily attracting small businesses (SMB category). The objective was to shift focus towards generating qualified leads (SQLs) from larger mid-market and enterprise clients.

Problem Statement

The Construction Tech SaaS company faced significant challenges with its lead generation efforts:

Reliance on free trials led to a low conversion to won new business at 7%

Majority of leads were from small businesses with lower ARR and LTV with limited penetration into the larger mid-market and enterprise segments.

Solution

To address these challenges, a multi-faceted solution was developed:

Analysis of Existing Data: In-depth analysis of win/loss and SQL data was conducted to identify valuable leads and understand existing trends.

Competitive Evaluations: Comprehensive assessments were made to understand where larger competitors were investing their budget, providing insights into effective strategies within the industry.

Exploration of Marketing Channels: All available marketing channels were explored, including Search Engine Optimization (SEO), Paid Search, Review Site Content, Event Leads growth, and Outbound email leads growth.

A/B Testing: Continuous A/B testing was carried out to optimize marketing strategies and tactics.

Implementation

The solution was implemented through the following strategies and tactics:

Search Engine Optimization (SEO): A strategic approach was adopted to improve the company's visibility in search engine results, resulting in a significant increase in leads generated quarterly.

Paid Search: Paid search campaigns were implemented to supplement organic traffic and generate additional leads.

Review Site Content: Content strategies targeting review sites were developed to leverage the potential of these platforms for lead generation.

Event Leads Growth: Data driven strategies were implemented to capitalize on events and conferences for lead generation purposes.

Outbound Email Leads Growth: Tactics for outbound email campaigns were executed to generate leads through direct outreach efforts.

Results

The implementation of a revised go-to-market motion for lead generation yielded remarkable results:

Cost per Lead (CPL): A blended cost per lead of $25 was maintained across all channels.

Return on Advertising Spend (ROAS): Over the next 12 months, we achieved a 10:1 return on advertising spend (ROAS), demonstrating the effectiveness and profitability of the lead gen efforts.

Incremental Annual Recurring Revenue (ARR): Drove an incremental $3.2 million in Annual Recurring Revenue (ARR) in the first year.

Conclusion

The case study illustrates the success of the lead generation initiatives, showcasing:

Strategic Leadership: My expertise in developing and executing a comprehensive lead generation strategy has been instrumental in driving the software company's growth trajectory.

Targeted Approach: By leveraging data-driven insights and competitive evaluations, I successfully identified untapped opportunities within the market and tailored strategies to penetrate larger mid-market and enterprise segments.

Quote from Nathan Snow - Head of Content:

Chris transformed our go-to-market strategy, using a data driven approach to drive a measurable increase in qualified leads, all while improving our brand and product awareness Nathan Snow, Head of Content

Results-Driven Execution: The remarkable results we achieved, including maintaining a low cost per lead (CPL), achieving a high return on advertising spend (ROAS), and driving substantial incremental Annual Recurring Revenue (ARR), underscore the effectiveness of our strategic approach.

Business Impact: Our leadership has not only resulted in significant revenue growth but has also positioned our company for long-term success in a competitive landscape.

Continuous Optimization: By prioritizing continuous optimization and A/B testing, I ensured that our lead generation strategies remain agile and adaptive to evolving market dynamics.

Through my strategic guidance and impactful execution, I've played a pivotal role in reshaping our company's market positioning and driving sustainable business growth.