Outshine Helps Mode Improve Cost Per Acquisition By 5x
The arrival of a new CMO is the perfect time to take stock, examine what works (and what doesn’t), and explore new opportunities.
That’s exactly what Mode Analytics capitalized on in 2019 when they engaged Outshine to build a strategic roadmap to assess and chart a course for their paid advertising program.
Build The Boat While Sailing
Mode, an analytics platform that helps data and domain experts alike solve their toughest problems and drive action, is in a high-growth industry with an expanding group of competitors and challengers. To build on its marketing program and grow revenue, Mode and the new CMO needed an in-depth assessment of the current digital advertising efforts, sales and lead qualification processes, and data infrastructure and systems. And, while that analysis was happening, continue to drive advertising results even as a new product launched.
We immediately identified and implemented ways to simplify existing advertising programs to maximize results:
More sophisticated key performance indicators (KPIs) The analysis identified new and expanding KPIs, and implemented them in a new campaign structure that resulted in a dramatic 5x improvement of cost per acquisition across platforms. These KPIs also represented a longer, more complex marketing and sales funnel, requiring more detailed, thorough, and relevant reporting. So the plan outlined a path to setting up and operationalizing the necessary data technology too.
Rigorous platform discipline The plan identified the campaigns and platforms that were no longer performing (like some display ad platforms), and redistributed budget to higher performing channels while simplifying the overall martech stack and improving performance.
Top-of-funnel content opportunities Outshine also highlighted low-cost, high-impact opportunities the Mode team could implement to enhance the current approach and support the launch of a new product. For instance, soliciting G2 reviews to be used as a part of the advertising program, and identifying the need for new gated assets designed specifically for mid-funnel opportunities.
Competitive review and evaluation The analysis also provided insights into the activities and tactics of competitors, allowing Mode to further prioritize budget and opportunities.
After Outshine, Mode had a dramatic 5x improvement of cost per acquisition
The Roadmap To Success
The strategic plan Outshine gave Mode’s new CMO a way to hit the ground running early in their tenure and make an impact quickly. It provided unique ways for Mode’s team to contribute to marketing efforts they hadn’t considered before. And it ensured that Mode could get the most out of their agency partner, thanks to early transparency and trust.
But the more powerful results of our work continue over time, as its role as Mode’s advertising and analytics playbook focused on marketing accountability and driving revenue growth is fully realized.
Don’t wonder how advertising helps you achieve your goals—prove it.