SurveyMonkey Increases Customer Lifetime Value by 150% with Marin Software
Leveraging Marin Software’s custom revenue model and patented bidding algorithm enable SurveyMonkey to maximize revenue
SAN FRANCISCO, CA January 24, 2013— Marin Software, provider of a leading digital ad management platform for advertisers and agencies, today announced SurveyMonkey increased the profitability of their paid search advertising program through the use of the Marin platform. SurveyMonkey, the world’s leading provider of web-based survey solutions, utilizes search marketing to engage customers and drive signups for their service. To better manage and optimize their paid search program, SurveyMonkey deployed Marin, and as a result, reduced the amount of time spent on campaign management by 40% and increased the overall lifetime value of key international campaigns by 150%.
- As the world’s leading provider of web-based survey solutions, SurveyMonkey has revolutionized the way people give and take feedback. Online advertising plays a key role in SurveyMonkey’s efforts to drive signups of its professional services. Marin Software provides SurveyMonkey a single platform through which the company can comprehensively manage and optimize their search marketing campaigns.
- SurveyMonkey offers customers three professional account types – Select, Gold and Platinum. Pricing varies between each subscription type, and as a result, different signups result in varying customer lifetime values (LTVs). Through Marin Software’s custom revenue model, SurveyMonkey can assign LTVs by account signup type and optimize according to geography and business unit. These optimization criteria, coupled with Marin’s proprietary bidding algorithm, enable SurveyMonkey to maximize keyword revenue and confidently expand their paid search program.
- Leveraging geo-specific LTVs and business goals, Marin Software’s automated bidding algorithm uncovered high-value keywords that were once bid down due to a high cost-per-acquisition. By identifying and optimizing for these keywords, SurveyMonkey increased their overall LTV by 150% for key international campaigns.
- To further boost the performance of ads, SurveyMonkey utilizes Marin Software’s Dimensions and Creative Testing features. Marin Dimensions allow SurveyMonkey to roll up creative performance by test type and geography. Marin’s Creative Testing tool continuously automatically identifies top-performing creative based on custom test criteria accounting for statistical significance. Dimensions and Marin’s A/B Testing tool have reduced the amount of time spent on campaign management by 40%, allowing SurveyMonkey to invest more time testing new opportunities and growing their business.
- A more complete case study outlining SurveyMonkey’s success with Marin Software can be downloaded at: www.marinsoftware.com/customers/case-studies/surveymonkey.
- “Using Marin Software, we can now factor lifetime customer value into our bidding strategy; and with Marin’s bidding algorithm, we’ve seen tremendous results,” said Gallant Chen, Director of Online Marketing at SurveyMonkey. “Most importantly, Marin’s solution and global presence has given us the confidence to enter new markets to continue growing our business abroad.”