Boosting Paid Social ROI: The Impact of Enabling Pipeline Optimization
- Customers who use Budget Optimizer for Pipeline, get 5X higher ROIs on average compared to customers who don’t.
- 75% of the customers who activated Pipeline Optimization, achieved ROIs above 2X
Every marketer dreams of making their paid social campaigns pay off in a big way. You’re after more than just leads; you’re chasing a robust pipeline, impressive ROI, and substantial business growth. But here’s the twist—many marketers, in their pursuit of leads, tend to overlook the fact that leads alone won’t pay the bills. They need to evolve into actual revenue, especially during economic downturns.
The appeal of accumulating leads is understandable. They hold the potential to become valuable customers with the right nurturing and a touch of sales finesse. However, consider this: What if you had the option to optimize your budget automatically for pipeline growth? Particularly when running paid ads, it’s logical to invest your funds where they’re most likely to generate promising opportunities for your pipeline.
So, why should you consider switching things up and focusing your budget on pipeline optimization? Well, especially when you’re running paid ads, it makes sense to put your money where it matters most—experiments that actually bring in opportunities.
Now, we get it—change can be scary. You might worry that shifting your optimization strategy could mean waiting ages before you see those deals coming in, or maybe you’re concerned about putting the brakes on lead generation. But it doesn’t work quite like that. Let’s break down what it means to optimize for pipeline in Metadata:
Triggered Opportunities:
- Budget optimization suggests daily budgets for experiments with one or more leads.
- It evaluates experiments based on lead volume, Cost Per Lead (CPL), Marketing Qualified Lead (MQL) volume, Cost Per MQL (cpMQL), triggered opportunity volume, and cost per triggered opportunity.
- Experiments that generate the most triggered opportunities at the lowest cost in the shortest time receive higher scores and more budget allocation.
- Triggered opportunity is the preferred metric, but if there are no triggered opportunities, Budget Optimization reverts to using MQL.
Custom KPIs:
- Custom KPIs can be tailored to specific business goals. To use this feature, it’s necessary to set up a custom metric for optimization, for example, “Booked Meetings”.
- Budget Optimization suggests daily budgets for experiments based on lead volume, CPL, and custom KPI data.
- Experiments that achieve the most custom KPIs (ie. Booked Meetings) at the lowest cost in the shortest time receive the highest budget allocation.
- If no custom KPI data is available, Budget Optimization defaults to using CPL as the optimization metric.
In summary, if you’re looking to supercharge your paid social campaigns and achieve a stronger ROI and a thriving sales pipeline, it’s time to shift your focus. Instead of simply chasing leads or even MQLs, prioritize opportunities that truly deliver. Enabling Budget Optimizer for Pipeline is the key to your success, with an impressive average 8X higher ROI for its users after activation.
Worried about change? Don’t be. It’s about optimizing your budget for maximum impact. Triggered Opportunities take center stage, fine-tuning budgets based on lead data, cost metrics, and lucrative opportunities. And if there is a different pipeline goal you care about, you’ve got the flexibility of Custom KPIs, tailor-made to your business goals. So, get ready to elevate your results, revamp your strategy, and make your campaigns profitable.
