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Vena Solutions Increased Website Pipeline Velocity by +745% in 1 Year and Scaled Their Demand Engine With Refine Labs Over a 3+ Year Partnership

Vena Solutions is the Intelligent Platform for Complete Planning for Finance Teams, integrated With Microsoft 365. 

EMPLOYEES: 500-1000

ESTABLISHED: 2011

588%
increase in website qualified (HIRO) pipeline over 3 years
745%
increase in website pipeline velocity in the first year
8-month
average ad CAC payback period

Before Refine Labs

Allison Munro, Chief Marketing Officer, turned to Refine Labs because she knew a lead generation model that needed 40,000 leads to hit revenue goals wasn’t scalable. She wanted a partner who could help disrupt the traditional inbound model.

 

Vena was historically a sales-led organization whose goal was to increase marketing contribution to revenue by scaling website declared-intent requests.

 

Allison was drawn to Refine Labs because they had a progressive belief system that she believed could help deploy a new demand growth model.  

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Key pillars of Refine Labs’ partnership

Before jumping into paid execution, a deep analysis was completed that revealed marketing program CAC was too high, but the traditional cost per lead metrics were “best in class.” The strategy needed to shift. 

 

To start, a model was built that included core success KPIs to align internal stakeholders and the board. Next, systems were aligned, and the required measurement was implemented in their CRM. 

 

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 only focusing on high-intent terms that drove revenue. The budget was reallocated towards demand creation initiatives. 

 

Paid social was transitioned from lead gen campaigns to awareness campaigns. Refining the targeting, offers, campaign structure, and messaging were the core areas of focus throughout each quarter.

 

In the first year, Vena achieved a 745% increase in website pipeline velocity, a 411% increase in qualified (HIRO) opportunities, and a revenue increase of 256%.

  • Funnel Modeling & Analysis
  • Demand Strategy
  • Media Execution 

 

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Vena’s Evolution and Results

As Vena’s team scaled and matured, Refine Labs worked with the wider marketing and creative teams at Vena. Our core team consisted of Allison, CMO, Siobhan Mondesire, VP of Marketing, Thomas Olszewski, Director of Digital Strategy, and Nick Kashty, Sr. Digital Marketing Manager. 

Over the next two years, strategy, creative, and channels evolved. Vena implemented Self-Reported attribution to get further insights into what was creating demand. On core social channels (LinkedIn & Meta), we expanded reach and engagement by adding video, increasing the number of static assets, and elevating design elements over time. 

Vena launched an account-based GTM strategy, which we paired with a digital strategy using 6Sense. We revised the digital strategy, targeting, and reporting to add account segmentation and launch industry-specific campaigns. 

Experimentation was core to continuing driving results and stacking growth. We experimented with X (formerly Twitter), Reddit, YouTube, and Quora. We identified ways to drive growth as their content engine matured, and they built their community consisting of templates, a learning academy, continuing education accredited events, and their annual conference, Excelerate. 

Vena’s results speak for themselves as we were able to grow and scale with them to consistently increase the website-sourced qualified (HIRO) pipeline and revenue quarter over quarter. 

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Vena Creative Showcase

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