The impact of digital marketing is a lot more measurable than you might assume. There is enough data available for each parameter to optimize campaigns over time and drive significant additional value. This process of optimization is critical, especially if you have to generate better results and a higher ROI.
One of the biggest revelations that most of our clients have once we are a few months into any engagement is how we are able to bring the cost per lead down considerably while increasing the number of conversions. ROI is undoubtedly the first goal that should be on your tracking sheet. That’s what we at FVG do with every client assignment we take up.
We also make sure that we are not improving just one area. There are improvements possible across the board, from paid campaigns to website content to SEO, blogs, and much more. It is possible to be ROI-driven at each and every step, and the resulting effect on the overall campaign can surprise you.
CELLINK, a $2 billion biotech giant, was an exciting challenge that we took on. The engagement was a fantastic opportunity where we were able to put our expertise to use at scale in a niche segment.
Here’s how we boosted the ROI for CELLINK’s digital marketing spending by 400%. This case study also illustrates how there is always room for improvement, and how having experts on board can help you realize this value.
What Does CELLINK Do?
CELLINK is a leading bioconvergence company. They work on cutting-edge biotechnology products and services. Their products and technology give many scientific researchers across the globe the necessary tools for advanced medical research. CELLINK’s bioprinters and bioinks are vital to several areas of research including biomaterial development, tissue engineering, tissue models, and drug delivery research.
CELLINK’s products, especially the I-DOT no-contact liquid handler and BIO X 3D bioprinters are top of the line in terms of features and have consistently received great customer reviews. I-DOT, and They were doing great work on the product front and had a good foundation to grow on.
What Challenges Were They Facing?
CELLINK had a good baseline of digital marketing performance because of their product quality. They have created something that users want and something that is unique to the market. The real issue was that they did not have a clear idea of what “better” was or how to get there.
Their existing digital marketing strategy was not comprehensive enough to cover a lot of areas, which meant that they were leaving many opportunities on the table. To take a specific example, they were ranking relatively low on SERPs (Search Engine Result Page) for some important keywords relevant to the industry like bioconvergence.
Beyond SEO, we also identified some other areas that needed more attention, including paid campaigns and content strategy. Working with an expert like FVG helped them develop all these areas almost parallelly, and keep track of the results too, especially with respect to the budgets being spent and the leads that were coming in.
What Was The Impact?
Before we discuss the phases, it is important to look at the state of affairs when FVG began the process of optimizing the strategy.
How did the numbers look before FVG took over?
The most notable aspect was that they had a good foundation in terms of web traffic and potential users coming on their website. The average number of unique users was at 20,000/mo., and the total digital spend stood at $1,500/mo.
The traffic is a healthy number for sure but once we dig deep, there are some key issues that come up. The cost per click for paid campaigns stood at $8.57, and the cost per conversion hovered around $48.63.
The biggest issue however was in the cost of acquisition. CELLINK was spending around $150 per acquisition, which is quite a high number, and affects ROI calculations significantly.
Phase 1: Fixing the basics
The real challenge for us at FVG was getting into the numbers and figuring out how we could plug the gaps and improve the overall campaign performance across the board. For the first six months of the intervention, our focus was on understanding the business in considerable depth, looking at the current digital marketing strategy, and making some core improvements.
These steps involved restructuring the campaigns, making critical website changes so that the lead conversion improves, and measures to rank the page for the important keywords where they ranked low.
This also involved strategic changes to how they created content, with more BOTF content and a good deal of search-oriented content too, especially for SERP rankings. The philosophy of being conversion-oriented at every step greatly helped in the process, as CELLINK saw an increase in traffic and a significant drop in cost per conversion. This meant that they were getting more value per dollar spent, already a great improvement over the previous stage.
Phase 2: Optimizing for results
Phase 1 covered a lot of the hygiene factors, and the digital marketing process as a whole got better. The next phase in our approach was to look at ways in which we could optimize the current strategy to deliver more results and an even better ROI.
Through focused SEO strategies that covered the on-page and technical aspects, we also started work on a lot of off-page elements to increase the credibility and hence the ranking of the page. These measures saw great success, with CELLINK achieving keyword leadership in a wide range of search phrases. In some of the searches like “bioconvergence,” CELLINK’s rank went straight to the top of the page, and there were significant improvements in many other related search terms.
The focus was also on improving the content delivery and creating a wider variety of content that addressed key user challenges, and also helped in conversions. Through these efforts, we were able to further bring down the cost of conversion to 25% of the baseline value, which was the cost of conversions at the time we started working on the campaigns.
The net result of all this was also seen in improved traffic. Website traffic jumped 30%, which was quite a massive hike considering the high baseline we started with. With more traffic, better conversion rates, and lower costs of conversion, the overall result was a massive boost in ROI by almost 400%!
The CELLINK story is a great example of how a results-driven approach with constant improvements over a period of time can lead to significant results in terms of ROI and cost. It is also a great example of how bringing in specialized expertise to run digital campaigns is a good idea, even if you think that your campaigns are doing well. There is always something that you can do which will get you better results.
CELLINK is one of the many clients that we work with across domains and geographies. FVG’s results-driven ROI-centered approach to digital marketing has helped almost all of them derive more value for each dollar spent. We’ll build a strategy that directly links digital marketing to lead generation and revenue growth. With dashboards and detailed reports, you’ll be able to track exactly how much growth every dollar you invest towards your digital marketing enables. Reach out to us today!
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Robb Fahrion is a Co-Founder and Partner of Flying V Group. He is passionate about helping businesses grow using the power of the internet. Robb graduated from Chapman University in Orange, CA and currently resides in Costa Mesa, CA. Robb enjoys writing about digital marketing, helping his clients turn their dreams into reality, and he is a HUGE Mike Trout fan.