TripleDart Improved CleverTap's MQL-SAL ratio by 40% While Cutting Cost Per SAL by 20%

CleverTap, a series D company valued at over $600 million, offers a platform that helps brands build meaningful customer relationships through personalized engagement. The company was struggling to generate quality MQLs that transitioned into paying customers. That’s when they teamed up with TripleDart. By fully owning CleverTap’s paid ad operations, we delivered results that redefined their pipeline strategy

CleverTap’s Pipeline from MQL to SAL Needed a Boost

Before teaming up with TripleDart, CleverTap had a steady flow of MQLs, but converting them into SALs was difficult. Here are what their challenges looked like:

• Underperforming SEM and Paid Social: CleverTap was looking to optimize their SEM and paid social campaigns on LinkedIn and Facebook. The goal was to maximize pipeline value and increase SALs while getting more out of their marketing budget
• Auction Pressures: Inefficient campaigns meant higher costs and lower conversions. CleverTap could not capitalize on its campaigns, which led to suboptimal spend efficiency and conversion rates
• Competitor Campaign Performance: Their existing competitor campaigns were not yielding the desired MQL count. What they needed was a more strategic approach to capture high-intent competitor brand terms
• Lead Quality and Cost Efficiency: CleverTap wanted to improve the quality of leads from generic campaigns and reduce the cost per SAL

TripleDart Implemented a Comprehensive Set of SEM and Paid Social Campaigns for CleverTap

Here’s how we tackled the challenges:

Diversification of their SEM to capture all sources

• Improving Quality of Leads:  We tailored campaigns to CleverTap’s target markets by optimizing ad creatives, bidding strategies, and keywords. We used location and device-level bid modification and experimented with offline events. This strategic refinement led to significant growth in conversions

40% increase in MQL-SAL ratio

• Dynamic Keyword Insertion (DKI): We utilized DKI in ad copy, particularly for short-tail keywords, to improve CleverTap’s click-through rate (CTR) for competitor campaigns

33% increase in click-through rate

• Regional Ad Copies, Landing Pages, and Targeting: We collaborated with CleverTap to create regional content for geographies with a high affinity toward native languages, such as LATAM, Germany, and France

2x  increase in Click-MQL

• Broad Match and TCPA: For regions like LATAM with lower search volumes, we used Broad Match and TCPA to tap into unexplored keyword pools. This increased the Non-branded search theme volume and efficiency

50% reduction in cost per MQL while maintaining the lead quality 

• Utilizing Audience Data: We used Remarketing Lists for Search Ads (RLSA) by leveraging audience data, to generate leads and enhance search campaigns
• Dynamic Search Ads (DSA):  We used DSA along with Broad Match to tap into more keyword pools and drive conversions. We then analyzed the traffic to CleverTap’s blog and product pages by mapping content with the potential target group. After this, we launched tailored campaigns to optimize the content
• Landing Page CRO: CleverTap’s landing pages were audited and restructured to optimize for copy, UX, readability, and page elements to drive more qualified leads

25% average improvement in conversion rate

• Channel Expansion to Bing Ads: We expanded CleverTap’s presence on Bing Ads, which were cheaper than Google Ads, to tap into customers searching for BOFU keywords. This enabled us to tap into more MQLs

50% lesser CPMQL

Implementation of ABM lite strategies using Paid social, LinkedIn & Meta

• BOFU Ads for High-Quality MQLs: Our campaign approach emphasized BOFU ads aimed to convert MQLs from accounts that matched our ICP. This approach significantly enhanced both conversion rates and lead quality

66% QoQ increase in users engaging with ads while using the TAL list

• Form Optimization through A/B Testing: We ran A/B tests on lead capture forms to experiment with variations in messaging and fields. We then identified winning combinations that significantly boosted conversion rates

20-30% increase in conversion rates

• Precision Ad Spend on High-Value Accounts: We allocated the majority of the ad budget to high-priority accounts. By doing so, we maximized budget efficiency and improved conversion rates
• ‍Re-targeting for Brand Recall and Demos: Engaging users already familiar with our brand served two purposes: generating more demo leads and enhancing brand recall. Personalized ad messaging tailored to high-fit accounts amplified the relevance and effectiveness of these campaigns, leading to increased demo requests and asset downloads‍
• Balanced Focus on Engagement and Lead Generation: While generating leads was a primary goal, we ensured campaigns also drove audience engagement. This dual focus fostered both immediate results and sustained brand interaction, creating a more rounded-campaign impact‍
• Display ads to build awareness for new products and features: We ensured the campaigns reached potential customers already primed for conversion by targeting custom intent and remarketing

The strategy successfully multiplied lead volume, driving substantial growth in key markets

Way of working

TripleDart adapted continuous monitoring methods to track CleverTap’s campaign performance

Results

For the financial year 2024, CleverTap experienced

• 45% improvement in RoAS (return on ad spend)
• 6% growth in the pipeline
• 20% reduction in CP-SAL

Our team

Sabarinathan R was the Senior Strategist managing the account

Basavaraj Angadi was the Specialist responsible for the Search Campaign

Srusthi Haval was the Specialist who took care of the Social Campaign

Takeaways

The enhanced MQL-to-SAL conversion led to a 30% year-over-year revenue growth. This was achieved with a 15% lower ad spend compared to 2023!

TripleDart Digital's tailored SEM and paid social strategies have empowered CleverTap to overcome digital marketing challenges, achieve substantial growth in lead quality and quantity, and establish a stronger foothold in the competitive customer engagement platform market

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