How Learningbank delivers an efficient go-to-market strategy at scale across markets with Dreamdata
When growing and scaling new markets, poorly performing marketing efforts are quickly exposed and their negative impact amplified. The result: high-cost and inefficient growth.
This makes identifying what’s working in your go-to-market and what isn’t, as important as ever.
The team at Learningbank found themselves struggling to scale in new markets. They were unable to simply replicate their successes in existing markets.
To overcome this challenge, they needed to see where the weak links were, where their top performers were, and what opportunities could be exploited.
It’s for this reason that they turned to Dreamdata to tell them which go-to-market efforts were generating revenue and which weren’t.
Key results Learningbank has achieved with Dreamdata so far:
Identified and shut down affiliate and paid campaigns that were not driving pipeline and revenue.
Saved 100s of hours on reporting and improved decision-making through faster insights.
Adjusted budget and improved the cost per opportunity KPI.
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“For us, Dreamdata is the centre of our, I would call it almost business insights. We use it as the tool to compile what are we doing good and what could we do even better.”
About Learningbank
Learningbank is a learning management services provider that aims to make people happier by making them better. By transforming old and ineffective corporate learning into modern digital learning, Learningbank focuses on learning experiences which generate results for our clients and their employees.
“Learning should be something that you want to do and not something that you have to do. So for us, it's about enabling learning in the everyday to make people feel good and make them do better.”
The challenge: deliver an efficient go-to-market strategy at scale across markets.
John Hansen’s main responsibility as VP Marketing & Growth at Learningbank is to develop and deliver the company’s go-to-market strategy. Working closely with both Marketing and Sales to ensure there’s an efficient go-to-market.
Delivering this efficiency at scale presented John and his team with the challenge of knowing whether acquired leads were in fact converting to pipeline and revenue. Like many B2B growth teams, there was a disconnect between their lead gen and revenue.
As John observed, “we could be driving thousands of leads at a low cost, but how will that impact our funnel?” So instead, “we needed to focus on driving revenue, focus on driving pipeline.”
This became doubly important as Learningbank pushed their growth strategy to new markets, where they found that replicating successes from the Danish market didn’t work.
Instead, they encountered a drop in ad campaign engagement and a sharp increase in their cost per opportunity.
“We needed to take a step back and get a better understanding of what is really driving revenue .” described John.
But they found this was easier said than done.
Like most B2B go-to-market teams, Learningbank was sitting on a complex tech stack that made connecting the data a significant challenge.
“It was really hard for us actually to get insights because we had to use so many different tools for it. Google Analytics, Google ads, HubSpot, etc, and sitting and compiling all that data together. That was such a big work that it was actually rarely done.”
The only glimpse they could gain was via their CRM’s last-touch attribution. Which, as Hjalte Bach, Learningbank’s Lead Digitial Marketing Manager, highlighted, paints a frustratingly limited picture of what is actually taking place.
He added, “the major pain we had at Learningbank before Dreamdata was that we could only look at our efforts from a Last Click Attribution perspective. But there's a bigger picture behind this that we weren't actually able to see.”
The solution: revenue insights on all go-to-market efforts to identify what’s working and what isn’t.
To grow and scale their go-to-market efforts, the team at Learningbank needed a solution that could track and measure the complete customer journey. A solution that would de-silo their tech stack and tie all their activities to pipeline and revenue.
As a B2B revenue attribution platform, Dreamdata integrates with all the tools on the go-to-market ecosystem and tracks all on-site account behaviour. This means that Dreamdata is able to track and measure all recordable touches on the customer journey, to present actionable analysis on what’s driving pipeline and revenue.
“That's a really cool part of the Dreamdata platform. We are able to dive in to see, okay, so Michael here just made a sale. What happened during that sale? What did they look for? What call actually drove them to join a webinar afterwards? etc. it really gives us a much better picture than all the tools can give us.” underlined Hjalte.
Thanks to tying together the pieces of the customer journey, John and Hjalte would now be able to measure the success of their go-to-market efforts, and better track their three main KPIs: 1) Year over year growth; 2) Customer acquisition cost; and 3) Cost per opportunity.
But crucially, they’d be able to track these as they ventured and grew into new markets. They could now wave bye bye to the frustrations of costly and inefficient growth in new markets.
The results: faster and better reporting on go-to-market, and a lower cost-per-opportunity
With Dreamdata, the team at Learningbank has finally been able to identify the weakest links in their go-to-market efforts and scale their best performers. Helping them move into new markets with data-backed confidence.
“In Dreamdata I can get a better overview of the performance on the different channels quicker, which is pretty important for us in such a fast-moving scale-up company.”
These are some of the Learningbank’s Dreamdata highlights so far:
Shut down affiliate and paid campaigns that are not driving pipeline and revenue
The team at Learningbank has always invested heavily in both Capterra and Google paid search. For the most part, the ROI on these channels has been acceptable; generating a decent amount of SQLs and revenue.
However, after running a “big deep dive with Dreamdata”, they have been able to optimise their cost per opportunity by:
Identifying and then scrapping keywords in Google paid search that were taking a lot of budget but were not actually generating pipeline and revenue.
Pinpointing the countries where Capterra campaigns were not providing SQLs and where conversion rates-to-opportunity was very low. so we removed these to lower our cost per opportunity.
John noted how with Dreamdata “we were very quickly able to see, wow, these countries in Capterra and affiliate sites aren't driving revenue. They're driving a lot of SQLs, but no revenue at all. So we turned those off.
“The same with Google ads also, we went in and saw, okay, this keyword is actually having the biggest cost and isn't driving any opportunity. And then we were able to go even deeper into that keyword and really see, okay, what are the different things within it that is driving something good, what isn't. So very quickly we could reduce a lot of costs we had on our paid performance.”
2. Save 100s of hours on reporting through simple and easy insights
Dreamdata enables John and his team to run more detailed go-to-market reporting and to do so more quickly and easily. Not only helping them pinpoint what’s working and where, but also saving the team 100s of hours of compiling reports.
Previously the team at Learningbank spent copious amounts of time pulling data from their different tools and manually compiling it. Only to gain limited insights.
Now the team has been able to build the custom reporting they need at the detail they need. Thanks to this, the Learningbank team has implemented quarterly deep dive across all channels and campaigns before setting new OKRs.
“We do a deep dive which sees everybody in Marketing coming together on it. Where we go through our performance and use this to define our targets and OKRs for the next quarter.”
3. Adjusted budget and improved the cost per opportunity KPI
With Dreamdata, John and the team at Learningbank have now adjusted their investments on one of their primary KPIs: cost per opportunity. Helping them reduce the cost by scrapping poorly performing campaigns and scaling the best performers.
Thanks to Dreamdata, Learningbank is now able to accurately map the cost of every channel and campaign against pipeline generated.
This enables them to push the cost per opportunity down by spending budget on acquiring better quality leads.
As Hjalte put it, “We are not necessarily looking for cheap leads by only looking at cost per lead. We're also looking at, are we getting the right leads?
I would rather spend more on getting the right leads than less and just getting a mound of leads to market for.”
Adding, “so when I get a new budget, it is based on the data we have in terms of what it costs to bring in an opportunity, what it costs to bring in a customer. It has to be related to the finances and the business strategy, overall.”
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