Scaling Paid Media for Snowflake
Obility assisted Snowflake in scaling their monthly media investment from approximately $15,000 to over $700,000, contributing to the largest tech IPO at that time. The collaboration involved Obility’s Data, Paid Search, SEO, and Paid Social teams working together to achieve impressive results. The Challenge: Historically, Obility had focused on increasing opportunity growth, but was directed to shift its strategy towards generating new names from well-matched accounts. This required a fresh approach to digital marketing and a detailed analysis of which offers, channels, and audience targeting would be most effective in meeting this new objective. With a change in key performance indicators (KPIs) from Opportunities to New Name Marketing Qualified Leads (NNMQLs), a comprehensive strategy restructuring was necessary. The paid social sector was experiencing significant growth, so this KPI shift could impact its performance trajectory. Additionally, there was a need for improvement in the APAC region, where lead generation had been historically low. The Solution: The budget was reallocated to focus on prospecting across all platforms, with bi-weekly optimizations to maximize the most effective combinations. Multiple assets were created for testing among specifically targeted audiences. Greater attention was paid to user engagement beyond just content downloads, including webinars, academies, and digital events. Ongoing audience testing aimed to identify the best targeting strategies by platform, region, and vertical. The Results: There was a 24-fold increase in conversion rates, an 80% reduction in cost per acquisition (CPA), a 27-fold increase in influenced opportunities, and an 86% decrease in cost per influenced opportunity.