CASE STUDY
Kyriba Sees ROAS of 9,950% from LinkedIn Ad Campaigns
Service: LinkedIn Ads
Client:
Kyriba
Industry :
Platform:
Duration:
Ad Spend:
Average Contract Value:
Case Overview
Kyriba, a leading provider of SaaS API-enabled financial platforms, had been running LinkedIn ad campaigns for years. Despite their experience and history with multiple ad agencies, they were struggling to achieve optimal results. Campaign inefficiencies had led to higher costs, lower engagement, and suboptimal ad delivery.
Seeking to revitalize their LinkedIn strategy, Kyriba turned to Connexis Creative for a fresh perspective and expert guidance on how to maximize their ad potential.
The Challenge:
Although Kyriba’s ad creatives and targeting were strong, several key areas needed improvement:
- Overloaded Campaigns: More than five ads per campaign caused issues with A/B testing and LinkedIn’s frequency cap.
- Budget Allocation: Daily budgets were being used, leading to inefficient spend, even on less active days for their target audience.
- Gated Assets: Conversion-heavy assets were hidden behind long intake forms (5+ fields), creating friction in the user journey.
- Creative Fatigue: Multiple campaigns were targeting the same audience segments, leading to repetitive content exposure.
- Incorrect Objectives: Poorly chosen campaign objectives led to higher costs and less effective ad delivery.
Our Approach
- Campaign Optimization:
- Reduced to under five active ads per campaign, facilitating cleaner A/B testing and improving optimization.
- Adjusted campaign objectives to better align with Kyriba’s goals, ensuring more efficient ad delivery.
- Cold Email Outreach:
- Shifted from daily budgets to lifetime budgets for better control over spend during peak activity periods.
- Asset Delivery:
- Eliminated long intake forms by delivering PDF assets through LinkedIn’s ungated Document Ads format, removing friction for users.
- Creative & Audience Management:
- Paused underperforming ads and merged audience segments to mitigate creative fatigue.
- Simplified the number of campaigns targeting each audience, focusing on delivering fresh, relevant content.
ROI Breakdown:
- Clicks: The 306.1% increase translated into roughly 7,300 additional clicks per month (up from 2,100 per month to 9,400 per month).
- Estimated Conversions: Kyriba has a 1% conversion rate from clicks to closed deals, which led to about 60 conversions over six months.
- Revenue: With each new contract worth an average of $200,000, Kyriba potentially generated $18 million in new business over six months.
ROI Estimate:
- With an ad spend of $180,000 over six months and estimated new business of $18 million, Kyriba saw an ROI of 9,950% from their optimized LinkedIn ad campaigns.
The Results
In just the first month of implementation, Kyriba’s campaign performance dramatically improved, leading to significant gains across key metrics:
- 306.1% Increase in Total Clicks
- 147% Increase in Click-Through Rate (CTR)
- 71% Decrease in Cost Per Click (CPC)
These improvements not only maximized their $30,000 monthly ad spend but also contributed to a substantial boost in their return on investment.
Conclusion:
By applying LinkedIn’s best practices, streamlining ad delivery, and improving user experience, Kyriba saw immediate and sustained success in their LinkedIn ad campaigns. The partnership lasted for six months, culminating in Kyriba’s decision to bring their LinkedIn management in-house following the arrival of a new CMO.
