Vena
Vena Solutions is the intelligent platform for Complete Planning for finance teams, integrating with Microsoft 365.
Increase in website qualified (HIRO) pipeline over 3 years
Increase in website pipeline velocity in the first year
Average ad CAC payback period
the problem
When Alison Munro joined Vena as Chief Marketing Officer, the company needed to generate 40,000 leads to hit its revenue goals — and the existing demand generation model wasn’t scalable.
Vena was historically a sales-led organization whose goal was to increase marketing contribution to revenue by scaling website-declared-intent requests.
Alison was drawn to Refine Labs because of its progressive belief system that challenged the traditional demand growth model.
Before jumping into paid execution, a deep analysis revealed that Vena’s marketing program CAC was too high. But the traditional cost-per-lead metrics were “best in class.” The strategy needed to shift.
Vena’s existing approach was heavily weighted toward demand capture and lead generation, with approximately 95% focused on demand capture and lead generation and just 5% on demand creation.
the work
To start, Refine Labs built out the necessary infrastructure for measurement. They set up offline conversion tracking, cleaned up Vena’s CRM, and established closed-loop reporting.
Refine Labs audited Google Search to focus on efficiency first, then worked with the Vena team to increase landing page conversion and experiment with new keywords and geographies to scale.
Google Search spend was decreased by 65% by focusing on high-intent terms that drove revenue. The budget was then reallocated toward demand creation initiatives.
Paid social was transformed from lead generation into awareness campaigns. Refine Labs helped Vena refine targeting, offers, campaign structure, and messaging around the core areas of focus throughout each quarter.
Over time, the mix shifted dramatically. What had been a demand engine dominated by capture evolved to approximately 76% demand creation and 24% demand capture one year into the partnership.
Increase in website qualified (HIRO) pipeline over 3 years
Increase in website pipeline velocity in the first year
the RESULTS
As Vena’s team scaled and matured, Refine Labs worked alongside the wider marketing and creative teams to build a more sophisticated demand engine.
Over the next two years, strategy, creative, and channels evolved. Vena implemented self-reported attribution to understand how buyers were actually discovering the company. Across social channels, the team expanded reach and engagement by adding video and increasing the number of static assets.
Vena also launched an account-based GTM strategy, refined its digital strategy and targeting, and continued experimenting with new ways to drive growth.
Experimentation became a core part of the operating model. The team tested X, formerly Twitter, Reddit, YouTube, and Quora and identified ways to drive growth as its core engine matured.
The impact showed up where it mattered: Vena increased website pipeline velocity by 745% in the first year.
Refine Labs continued to support Vena as the company scaled, helping evolve its demand engine throughout a three-year partnership.
”
“Picking the right partner at the time was really important to our early success. Working with Refine Labs was one of the first initiatives I prioritized, focusing on brand and demand creation. Refine Labs is progressive in nature, questioning what was in place in most organizations and driving the transformational required for growth.”
Allison Munro
Vena
·
CMO, Vena
Keep reading
