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Alan Coleman, CEO
My Virtual Office was faced with a declining demand for virtual offices due to a shift back to pre-pandemic norms. We took a two pronged approach by implementing strategies at both the top and bottom of the sales funnel to overcome this challenge.This approach showcased the exceptional adaptability and success of our campaign, ultimately leading to My Virtual Office achieving its most successful year to date.
During the COVID-19 pandemic there was a large demand for virtual offices however following the easing of restrictions, the shift towards pre-pandemic norms posed a new challenge for My Virtual Office.
We needed to find a way to assist them to sustain growth amidst declining demand for virtual offices as businesses returned to traditional or hybrid office settings.
Our strategy was designed to navigate the challenges of scarce conversion data for machine learning due to higher average order value (AOV) and the industry-wide move back to in-person operations - a shift that was in stark contrast to our digital-first strategy. Our strategy was structured into four distinct phases:
Phase 1: Increasing brand awareness through a YouTube prospecting campaign to counteract the decline in the virtual office market.
Phase 2: Targeting non-intent keywords using insights into new entrepreneurs' initial steps which is the audience that is likely to have a longer lifespan.
Phase 3: Enhancing the algorithm with only new customer data from soft conversions created from lead generation funnel.
Phase 4: Transitioning from focusing on lead generation to acquiring new customers.
We approached this in two ways:
The first was to shift the focus. We transitioned from focusing solely on lead generation conversions to acquiring new customers by leveraging value-based bidding strategies.
Secondly we optimised the algorithm performance by continuously integrating fresh data from new customers for enhanced insights - particularly from soft conversions during the application phase. This approach ensured a steady stream of updated information from new clients for the campaigns.
In a tough post-COVID business landscape, where Non-PPC areas areas fell short having a 26% decline, our PPC campaigns stood out. We focused on acquiring high-quality clients through value-based bidding and utilising new customer data while targeting audiences likely to have a higher lifespan. Overall, our PPC campaigns not only achieved an impressive 96% YoY growth but also contributed to 59% of the total new client acquisitions.
While the demand for searches related to virtual office terms declined by 20% YoY in line with post-COVID trends, we successfully boosted the search volume for our brand terms by 42% YoY via our Youtube strategy.
New Customers YoY
Cost Per New Customer Acquisition YoY
Brand Search YoY
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