Kofax reduces the tedium and minutiae of repetitive tasks and workflows by digitally transforming core business processes. Their intelligent automation software solutions make the likes of HP, Samsung, Visa, and 25,000+ other customers increasingly resilient, efficient, and productive.
As they offer a wide variety of both enterprise-scale software implementations and direct-to-consumer e-commerce products, Kofax had a siloed paid media approach across their internal stakeholders and product pillars. With a bifurcated strategy, how could they drive more incremental and annual recurring revenue, boost qualified leads, and acquire new customers across their entire portfolio?
Task and process automation and increased organizational efficiency is top of mind for most business leaders. In fact, as of 2020, 31% of companies have fully automated at least one core function.
And while Kofax is at the forefront of the evolution of streamlining work, their compartmentalized media strategy left a lot on the table. Siloed internal communication and knowledge-sharing among the e-commerce and enterprise product groups spread across 31 countries meant that leads, reporting, and learnings were difficult to attain and analyze at-scale, and advertising efforts were often competitive to their sister solutions.
Dragon360 knew that to be most effective, we would need to orchestrate and implement a unified paid advertising strategy to create and capture demand, driving pipeline and revenue growth across both the enterprise and e-commerce/DTC arms of the business. We also needed to capitalize on quick wins, especially identifying key opportunities for cross-selling.
We’ve managed Kofax’s paid search campaigns for their enterprise solutions since 2017, and now years later, were also trusted with their paid social, account-based marketing (ABM), and e-commerce advertising. We knew that turning the ship on paid media strategy would take time, and need to be implemented incrementally, but we were able to methodically orchestrate a unified digital advertising program that performs across all of their global markets and product pillars to drive both enterprise and e-commerce sales.
Our core goal was to drive incremental revenue at a profitable margin for e-commerce products and annual recurring revenue for enterprise solutions via new customer acquisition and upselling existing customers. We also worked to create and capture demand from qualified leads that spanned a wide range of industry verticals and operational challenges.
Measuring Success. One of the first major changes we spearheaded was to look at the larger growth and revenue picture across the whole business to measure our advertising program’s success. You can’t measure a business’s bottom line strictly by the number of MQLs or form submissions. So, we architected a long-term shift in reporting, attribution models, and campaign goals beyond rote marketing metrics to also include key engagements that signified a prospect’s interest and intent. We also refined reporting so that we could granularly gauge campaign performance by region, product, channel, and more.
Cross-Selling Opportunities. Then, we analyzed their existing enterprise and e-commerce campaigns and prospects’ on- and offsite behaviors. As we suspected, enterprise ads were driving revenue for e-commerce products and vice versa — something Kofax wasn’t aware of before. We uncovered natural throughlines among products and customer use cases and are working with the Kofax team to systematize cross-selling inflection points, regardless of a product’s purchase method or pillar.
Shifting the Message. “Automation” can feel like a nebulous term or buzzword to some, spurring indifference or even confusion. Instead, we reframed advertising copy to focus on the challenges potential Kofax customers faced, or their “job to be done.” What monotonous task could a Kofax solution automate, so you could spend time doing only what a person (not software or robots) can do?
By framing campaigns around a use case or pain point and its solution, we could layer-in persona, vertical, or regional nuances with the most relevant unique selling points, differentiators, or other value propositions to make ads as relevant and persuasive as possible to operational decision-makers across the Americas, EMEA, and APAC.
Advertising Strategy. To effectively create, capture, and nurture demand, we wove together paid search, ABM, retargeting, and paid social efforts.
We ran paid search and retargeting campaigns across Google and Bing, structuring campaigns to optimize for granular performance, and so that we could fine-tune, manage spend, and report based on region and product pillar. We worked with regional field managers and stakeholders to translate where needed, and conducted regular keyword research to ensure peak visibility for Kofax’s suite of solutions.
Using LinkedIn, 6sense, and Terminus, we developed a highly targeted ABM program to grow lifetime customer value naturally, but intentionally. We built out dynamic buyer segments developed from intent signals from first- and third-party data sources, on-site and off-site customer behaviors, and more for a robust and tailored approach account by target account.
We also leveraged LinkedIn for prospecting and retargeting ads (the ideal space for reaching enterprises and professionals), maintaining a global campaign structure for more effective algorithmic and optimization opportunities. Additionally, we ran retargeting ads on Facebook as a secondary avenue for more cost-effective nurturing than LinkedIn.
Content Consulting. B2B advertising is built on the back of tentpole content like whitepapers, trials, guides, etc. We closely guided Kofax’s content teams as they developed e-books, whitepapers, and case studies to make them as useful to our campaigns and impactful to our audiences as possible. In those efforts to create demand, we refocused their content goals away from an immediate form-fill to smart and timely distribution to maximize value for the prospective customer and, ultimately, demand.
Unifying Kofax’s paid media efforts into a global digital advertising program that systematically creates, captures, and nurtures demand resulted in significant new customer growth across their entire product portfolio for both enterprise and e-commerce sales. We effectively removed inefficiencies and redundancies, optimized campaigns, and helped them develop compelling content that converts.