Executive summary:
Discover how awork leveraged Funnel's advanced multi-touch attribution and marketing mix modeling solutions to scale their B2B SaaS business, enabling confident allocation of a six-figure monthly media budget in a fiercely competitive market.
Key results:
- Insights derived from Funnel enabled awork to reallocate 30% of their media budget towards high-performing paid social media channels.
- Improved attribution insights allowed a fourfold increase in awork's media spend.
- Optimized marketing budget allocation, reducing customer acquisition costs across campaigns.
Company profile:
Founded in 2019, awork provides a digital workspace designed to eliminate busy-work and organizational chaos, fostering a collaborative and enjoyable work environment. Their B2B SaaS solution helps teams from various industries plan and organize their work, driving efficiency and creativity. awork’s clients include those planning federal elections, organizing city marathons, researching cancer treatments, and producing feature films.
The challenge: Getting answers to important questions
Since awork’s first product launch in 2019, the company began scaling up its marketing investments and expanded the number of marketing platforms it was active on. However, they found that with reports sitting on different platforms, inconsistent data that doesn’t match marketing spend to marketing results as well as biased reports in Google Analytics with a static attribution logic it was impossible to answer a number of critical business questions, such as:
- What caused users to sign up for the app?
- What does it cost to acquire new customers through different channels and campaigns?
- Where to allocate the budget most effectively to outbid the competition?
As a result, awork dove into the field of marketing measurement looking for a vendor who offers data-driven attribution and provides a single source where data from different sources ties together.
The solution: Going beyond last-click attribution
After conducting thorough research, awork decided to go with Funnel Measurement (then called Adtriba). This was due to Funnel’s ability to connect to a wide range of different marketing and analytics platforms and mapping cost and conversion data. In addition, Funnel’s advanced measurement capabilities could provide dynamic, data-driven attribution methodologies to help overcome static attribution logic which is predominantly based on last-click interactions, and tends to undervalue activities higher up in the marketing funnel.
Another key benefit was Funnel’s ability to share both the raw and enriched attribution data to third-party BI platforms, which in the case of awork was important as Tablaeu was the BI solution used by the organization.
The results: Scaling marketing investments with confidence
It did not take long from having implemented Funnel for the team at awork to see its positive effects. Working with the Funnel team and its machine learning multi-touch attribution solution, an individual attribution model was developed for awork’s specific customer journeys and marketing mix.
With the new solution in place, awork could start seeing beyond last-click attribution results it was given by the individual platforms. As a result, they could quickly see that paid social media, which had seemed unprofitable on a last-click basis, actually had a major positive impact on branded search and direct traffic. This in turn gave awork the confidence to shift 30% of their budgets to paid social media channels.
The new data-driven setup has provided awork with deep insights in the customer acquisition costs of their marketing channels and the ability to shift budgets to activities that yield the best results. It has also allowed awork to effectively scale its marketing investments fourfold over the course of two years. Tobias Hagenau, co-founder & CEO at awork.io notes: “We could raise our bids and outbid the competition in the important placements while saving our resources on campaigns that contribute less.”
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