Case Study: Thnks

Scaling Results By Diversifying Channel Mix: Using Third-Party Data to Unlock Growth on Meta

How we leveraged data enrichment platform, Clearbit, to quickly and efficiently generate more MQLs for B2B organization.

The Partner

Thnks is an online “relationship-building platform” that allows users to instantly send a gesture of appreciation (e.g., coffee, lunch) to someone via email or text. Thnks aims to help business professionals establish stronger relationships with customers and employees through efficient, personalized, and thoughtful appreciation.

Tuff Services

A Quick Look

up arrow 23%

Increase in Lead → MQL Rate with Clearbit

up arrow 16%

Increase in MQLs*

down arrow 16%

Decrease in CPQL*

*The cited increase in MQLs and decrease in CPQL above compares data from Dec 21’ – May 22’ to data from June 22’ – Nov 22’.

TL;DR: From June – November 2022, our team successfully scaled lead generation campaigns on Meta for our B2B partner, leveraging a third-party data source to bypass Meta targeting limitations and drive the highest lead qualification rate ever achieved on the channel.

The Challenge

Increase lead-to-MQL conversion rate: launch and scale efficient lead generation campaigns on Meta with precise B2B audience targeting.

Lead generation was our primary objective. Not only did Thnks want to increase lead volume, but they also wanted to isolate specific user profiles to drive efficiencies and improve lead quality across their paid channels.

For Thnks, LinkedIn was an obvious choice. Leveraging LinkedIn’s robust targeting capabilities, we successfully isolated their ICP, which yielded a substantial volume of high-quality leads. In 2022, our lead-to-MQL rate on LinkedIn consistently hit 80% or higher.

Eventually, we reached our max spend threshold on LinkedIn, and had to find ways to diversify our channel mix to keep growing lead volume. We turned to Meta, but didn’t see the same early success. Our team drove a high volume of lower-cost leads on Meta during initial campaigns, but few leads were actually qualified. As a result, our lead-to-MQL rate fell below 50%.

So, how did we pivot our Meta strategy to isolate Thnks’ target audience, drive quality lead volume, and scale results? Let’s find out ↓

The Strategy

An out-of-the-box approach to B2B audience targeting on Meta

In May 2022, we onboarded data enrichment platform, Clearbit, to reach Thnk’s ideal prospects more efficiently and convert qualified leads at scale.

What We Did:

  1. Isolate our problem metric (i.e., the lead → MQL rate).
  2. Define the root cause of the problem (i.e., Meta targeting options).
  3. Find a solution to address the problem (i.e., Clearbit).
  4. Execute and analyze the results from Clearbit vs. Non-Clearbit campaigns.
  5. Optimize future campaigns based on learnings and scale up budgets as results rolled in.

Clearbit’s conversion tracking tool gave us the ability to target millions of business users on Meta, integrating over 100 B2B targeting filters like title, industry, company size, and technologies with the platform’s existing targeting algorithms. In doing this, we produced similar lead-to-MQL conversion rates to LinkedIn, activating Thnks’ highest-performing multichannel lead generation strategy to date.

After six months of testing, here’s what we found. ↓

The Results

Steady, scalable improvements: increasing the lead-to-MQL conversion rate by 23% while reducing cost per qualified lead by 16%.

It took a couple of months for Clearbit to hit its stride, but since introducing this advanced targeting tool, we’ve been able to drive consistent results MoM from Meta lead generation campaigns. The data below compares Meta campaigns using Clearbit vs. campaigns using standard Meta targeting options from June – November 2022.

Clearbit gave us the opportunity to reach precise B2B audiences, cut wasted spend, and drive high-volume, high-quality leads into the Thnks pipeline from multiple channels.

The Data

*Per our partner’s request, data specific to the exact quantity of leads, spend, and cost per qualified lead during this time has been redacted from this table.

“I view our partnership with Tuff as more like an extension of my team. We strategize together, ask tough questions, examine the results, optimize – and it just keeps getting better. Exactly what I was looking for.”

Brad Veach, VP of Marketing at Thnks

Key Takeaways

Success relies on testing: our tried-and-true testing and measurement framework allows us to make strategic decisions based on facts, not assumptions. For Thnks, we relied on this framework to prove the efficacy of our Clearbit strategy and inform future campaign optimizations.

Don’t put all your eggs in one basket: throughout the Thnks partnership, we’ve been very fluid between our two main result-driving channels shifting budget back and forth as results dictate. Having multiple channels driving results has allowed us to stay nimble and prioritize what’s working in the given week and month.

Define goals early: the first step of every partnership should be to anchor to concrete efficiency targets. By doing so with Thnks, we were able to establish expectations early and set ourselves up for long-term success.

Explore all your options: chances are there’s a strategy or a tool that you haven’t explored which can be key to achieving desired results at scale.

Growth requires agility: our growth approach at Tuff is grounded in a culture of constant learning and adaptability. By staying open to new ideas and embracing experimentation, we’re able to capitalize on new opportunities, overcome obstacles, and drive measured growth.

More Case Studies

Ready to grow?

Your compounding growth curve begins here.

© 2023 Tuff | We're a division of Goodway Group!