Loxo is the #1 Talent Intelligence Platform and global leader in recruiting software.
EMPLOYEES: 50 - 100
Loxo’s partnership with Refine Labs centered around strategizing, building, and executing paid social campaigns tailored to channels where Loxo knew their buyers spent time– LinkedIn (demand creation) and Google (demand capture).
Sam Kuehnle, VP of Marketing at Loxo said, “The problem wasn’t product market fit, or messaging. Loxo’s opportunity was getting more people to see the product and understand the value, and Refine Labs is the best of the best when it comes to demand gen.”
Loxo partners with recruiters and helps them keep up with the evolution of the job market, and solves for the difficulty of finding great talent. And where do recruiters spend time? LinkedIn. Sam shared that the Refine Labs team was “a one-two punch” in terms of up-leveling their impact on LinkedIn. Something he knew first-hand being a former Refine Labs employee.
Our partnership with Loxo laddered to growth goals to reach a certain market share within their industry. These goals around market share meant, of course, creating and capturing demand, but also standing up a Product-Led Growth (PLG) growth motion alongside their Sales-Led Growth motion to serve as a differentiator and meet the market where they are.
Overall results were achieved by modifying the GTM strategy to focus on creating and capturing demand through a dual motion approach–Product Led Growth and Sales Led Growth.
To accurately capture the right demand, we conducted an audit of all high-intent keywords to ensure we were maximizing the impression share for those keywords that were capturing the majority of conversions translating into pipeline opportunities. This was not limited to Google Ads data; we also incorporated conversion data from HubSpot and Salesforce. This comprehensive approach allowed us to ensure that conversions from the ad platform were effectively translating into actual pipeline conversions, representing a true measure of demand capture.
However, to truly generate demand, we needed to reach the right Ideal Customer Profile (ICP). This involved leveraging a combination of target account lists focused on priority accounts, while excluding companies outside of our target employee count. In addition to ads aimed at generating demand, we launched teaser videos before going live and promoted organic posts that had strong traction and were aligned with both Product-Led Growth (PLG) and Sales-Led Growth (SLG). The goal was to ensure all content, both organic and paid, was focused on educating the ICP, creating awareness for both a bottom-up PLG motion and a top-down SLG motion. This approach created a self-sustaining system that continuously brought in new trials. It also sped up the sales process for leads that needed help from their Sales team, whether they started as a trial user or came in through a demo request.
By focusing on creating demand for the ideal customer profile, acquisition costs were reduced by 23% while annual recurring revenue increased by 45% quarter over quarter.