When Industrious was starting the partnership with Algofy, it had less than 40 locations and ambitious expansion plans on the horizon. They set us two goals:
1. Fast expansion & volume increase
2. Do number 1 with a stable CPL
Algofy surpassed expectations, and within 6 months, we increased the company's monthly leads by 131% while seeing the cost-per-lead increase by only 10%.
Before our collaboration, Industrious hasn't been targeting competitors. However, within the first months with Algofy, the leads from competitor targeting made up 25% of the non-branded lead volume.
Industrious previously used a broad-stroke approach in each market. With Algofy, they began localizing search terms and ad copy based on the office space's neighborhoods rather than the metropolitan area. This led to double the CTR and a 50% greater conversion rate on localized terms.
We ran a regression analysis to correlate advertising impressions to Organic Search CTR and leads. By determining an X amount increase in ad impressions leads to Y amount of incremental organic leads, we saw the latter double while increasing the CTR by 50%.
System that works
Prior to scaling advertising, it's essential to have a well-rounded yet granular strategy. In industries, such as those dealing with office space, where the emotional connection and loyalty to brands is minimal, be sure to test competitor targeting. Also, it's always crucial to remember the importance of speaking directly to your audience in your targeting, creatives, and landing page content. Finally, it's easy to forget that Organic and Paid Search do not live in silos but rather work together. Leverage each tactic to take more real estate, build more consumer trust with both listings, and influence users who don't click on ads.