500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. It is one of the most active venture capital firms in the world, which spans more than 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 and our duty to bring together this report with the people who concerned. We conducted a severe study on increasing the number of people who downloaded the report by giving their basic info, which we called the generated lead, and the results were entirely satisfactory.
We started by identifying the performance criteria we want to reach, determined goals. The installation of the Analytics measurement infrastructure completed after we made sure that the data flow was correct and the number of report downloads was measured. The target audience we wanted to reach was a very niche audience. For this reason, choosing the right advertisement channel and using correct discourses was very critical. However LinkedIn seemed to be the right channel for 500startups, it was not preferred because the advertising costs were quite high. So that the search channel was preferred instead of it. The Google Ads account structure was created from scratch, and the strategy was determined. The approach on the Facebook channel, which was considered worthy of trying on the social circuit didn't very cost-effective. So that most of the budget was allocated to search ads.
Primarily; DSA, competitor, and brand campaigns were activated, and continuous optimizations were carried out. As the audience is niche, the relevant users were attracted to the site by using as many keywords as possible. Due to the use of broad match, often negative studies were performed. Crossly negatived keywords between campaigns, also device-based bid adjustment performed. The game-changing point was the bidding strategy, we pulled the manual CPC to maximize conversion, and a rapid increase in the number of downloads observed.
On B2B, CPC’s were pretty high, and optimizations made with a focus on preventing this. Daily follow-up was a challenge, but we see results promptly; while the average cost per lead was around $ 30 (November-January), it decreased to around $ 5 (January-April). It started to lead much less than the initial CPC value, which was pretty great progress. Using Lead extension in Google search ads could increase performance but we could not 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 or other similar platforms. It was a high-cost channel that was tried before LinkedIn. Despite that, we evaluated the social media channel and in this short-term campaign, 1 out of 10 people received leads. As it is a channel with a high return, it has been progressed through Google ads because of the high costs.
Inıtially average CPCs were around $3; it fell to 0.40 cents with several optimizations. 90% of obtained users were new user, an averagely 20% of these users who came to the page filled out the form. Overall, CPL decreased from $7 to $5.