All-in-one tool market research analysis to acquire SMEs

Objectives

Acquire 50 new customers: The primary objective is to attract 50 new customers who are willing to pay $10 each month for the organization's web application services using a Google Ads campaign.

Background Research

  • The organization offers an all-in-one web application tailored for businesses with features like task management, time tracking, HR solutions, CRM, and a database of 3 million German companies.
  • The target users are SMEs, HR departments, and sales teams in Germany.
  • Statista reports 2.6 million SMEs in Germany, and the goal is to capture at least 5% of this market.
  • Market research reveals important keywords and questions asked by the German audience related to CRM, HRMS, task management, time tracking, and GDPR compliance.
  • Customer interviews using "The Mom's Test" principles provide insights into various user personas and their needs.

The Google Campaign:

  • The campaign aims to use Google Ads to attract potential customers, with a focus on simplicity, pricing, and unique features.
  • Phased budgeting strategy, starting with a lower daily budget and gradually increasing it based on performance.
  • AD copies are tailored for SMEs, HR departments, and sales teams, emphasizing simplicity and pricing advantages.
  • A/B testing of ADs and landing pages, including language (German and English), headlines, images, and CTA buttons.
  • Landing page recommendations include attention-grabbing headlines, high-quality visuals, persuasive copy, and a single clear Call-To-Action in every section.

Monitoring & Optimization

KPIs to measure campaign effectiveness include Click-Through Rate (CTR), Conversion Rate, Bounce Rate, and Average Session Duration. Feedback loops for optimization include A/B testing, heatmaps, user behavior analysis, and conversion funnel analysis.

Projected Outcome

Based on a 4.40% average conversion rate for Google Ads campaigns, the projection suggests that the campaign will convert approximately 22 customers, resulting in $220 Monthly Recurring Revenue (MRR) in one month. To achieve the goal of acquiring 50 customers, the campaign needs to run for about 65 days with a daily budget of $30, requiring a total budget of $1950.

Anticipated Challenges

  • Technical issues may arise and require constant monitoring by the tech and QA teams.
  • High competition in the market can be addressed by highlighting lower pricing and better UX as unique selling points (USPs).
  • Low conversion rates may necessitate reworking A/B testing efforts, refreshing copy, and call-to-actions.
  • High bounce rates on the website can be improved by optimizing technical SEO and content relevance.
  • Addressing content relevance issues by refining AD targeting.

Hours Spent

The assignment involved approximately 10 hours of work.

Platforms and Tools Used

Various tools and platforms were utilized, including Google Keyword Planner, Answer the Public, Google Trends, Wordstream, Figma, Canva, Secure VPN, LinkedIn, Tl;Dv, and Google for secondary research.

18 Sep 2023

Keywords
product
product marketing
product management
design
product marketing management
performance marketing
google Ads
digital marketing
tools

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