500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs. They help to create successful companies that scale and build thriving global ecosystems. It is one of the most active venture capital firms in the world, firmly established in over 75 countries. Notable investments in the 500 portfolio include: Credit Karma, Twilio, Canva, Grab, Talkdesk, and Udemy. 500 Startups recently announced the results of the largest corporate venture capital survey, based on 100 unique CVC units worldwide. Our duty is to bring this report to the people who can benefit the most. We conducted an in-depth study on the increasing numbers of people who had downloaded the report and given their basic info. We then called the generated lead and overall, we experienced extremely positive results.
We intially began by identifying the performance criteria we wanted to reach and alligning this with specific future goals. We completed the installation of the Analytics measurement infrastructure after we made sure that the data flow was entirely accurate. The number of downloaded reports was measured and obtained. We were targeting a very niche audience, for this reason, choosing the right advertisement channel was of paramount importance in ensuring the success of the project. Intially, LinkedIn seemed to be the ideal channel for 500startups. However, It was not preferred because the advertising costs were prohibitively expensive. Therefore, It was decided that the search channel would be the most preferable option. The Google Ads account structure was competely created from scratch, and from there, the overall strategy was established.Using Facebook as a channel, was thoroughly considered worthy of trying, but wasn't very cost-effective. The majority of the budget had to be allocated to search ads.
Primarily; DSA, competitor, and brand campaigns were activated, and continuous optimizations were carried out. As the audience is particularly niche, the relevant users were attracted to the site by using as many keywords as possible. The use of broad match, often fell below exspectations as well as being costly, but more importantly it wasn't optimized with negative key words. We crossed negatived keywords between campaigns and also implemented device-based bid adjustments, so that we can re-invest and double down on the most effective areas effeciently. However, the game-changing point was the bidding strategy, we ceased the manual CPC in lieu of maximizing conversion, which culminated in a rapid increase in the number of overall downloads.
Reguarding B2B, CPC’s were pretty high, and optimizations made with a focus of preventing this. Daily follow-ups were a challenge, but we saw results promptly. The average cost per lead was around $30 between November and January, it then decreased to around $ 5 from January through till April. Each lead was far lower than the initial CPC value, which was pretty great progress. Using Lead extensions on Google search ads could increase performance but it couldn't be used, because it was only possible to get leads through the website since leads are flowing to CRM directly. There was not much potential on Facebook either as well as on other similar platforms. It was a high-cost channel that was tried before LinkedIn. Despite that, we proceeded with our evaluation of multiple social media channels and in this short-term campaign, 1 out of 10 people converted to a lead. As it is a channel with a high return on investment, it progressed through Google ads because of the high costs associated with the available social media options.
Inıtially the average CPCs were around $3; it then fell to 0.40 cents after several key optimizations. 90% of the obtained users were new users, an average of 20% of these users came to the page an proceeded to fill out the form. Overall, CPL decreased by 40%, going from $7 down to $5.