Inuvo, Inc., a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today announces how the IntentKey AI technology expanded the customer base of a business-to-business electronic components company at scale, while also beating their customer acquisition (CPA) goal costs by 91%.
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Inuvo’s client, an electronic components company, had been focused on growing their company by focusing on their existing customer base and through product expansion. When their strategy shifted towards targeting new customers, they initially turned to traditional digital tools, such as search, email marketing, social media, and some display to broadly target electrical engineers.
While they were happy with the results of these efforts, they were equally as excited to test new digital technologies that might help them reach their niche target audience of electrical component buyers, design engineers, maintenance professionals/plant managers, and contract manufacturers. For the test, the client established a CPA goal based on the results of previous digital campaigns and Inuvo delivered new sales leads at a cost that beat the CPA goal by 91%. Most astounding was that these results were realized during an extraordinary online retail environment due to COVID-19.
In addition to the outstanding performance, the client benefited strategically from the insights only the IntentKey can deliver about the various niche audiences their products serve. Campaign data revealed users with interests related to energy, chemical and petroleum, and other business services industries were most likely to convert. These audiences also tended to rely on research with feedback from websites like reddit.com, where specialty threads allowed them to connect with their peers and like-minded individuals in the industries which they work to get help solving problems and to make better purchasing decisions. Most interestingly, the audiences also associated strongly with hobby enthusiasts, demonstrating a propensity to consume vast amounts of online content centered around personal hobbies, with interests in woodworking, NASCAR, hunting, dirt biking, and motocross racing.
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“The artificial intelligence that drives the IntentKey delivered a deep understanding of our client’s interests that made it possible to expand the reach of their campaign,” said Tristan Cameron, VP of Sales & Account Management. “Rather than simply marketing on industry-related sites that are noisy, filled with competitor ads, and of limited scale, we were able to find users across the web, anonymously at a time and place when they were less distracted and more receptive. This made it more affordable and enabled us to reach them when they showed the greatest signals of real-time intent.”
“We also learned throughout this process that while this was a very specific audience, the nature of our AI and the data produced by that AI once again provided the ability to achieve greater scale than had been experienced with other vendors,” said Cameron. “With the right data, we’ve been able to deliver results that far exceed our client’s expectations.”
The client has renewed the campaign going into 2021 and the IntentKey has continued to deliver consistent results. As the COVID vaccine rollout continues and the economy heads towards recovery, we look forward to what the IntentKey can learn as changing trends in business buyer behaviors emerge post-COVID.