Full Breakdown Of Our Leads & Revenue Since Launching [Build In Public Update 4]
I'll be sharing behind-the-scenes updates from our "build in public" journey including real numbers and the stories behind them, as well as B2B growth advice to help you grow your business. No selling, just value.
Ok, now that’s out of the way, let’s jump into the topic for today…
A full breakdown of all of our leads and revenue since we launched our business, what I’ve learned, and what I’ll be doing next.
Here is a snapshot from our CRM with all our leads/sources since the start of the year (we launched in Feb 2023):
As you can see, my personal brand (LinkedIn Inbound) generated the highest number of leads overall (27).
This was followed closely by LinkedIn Ads (21). It’s no secret that I love LinkedIn Ads. I don’t think there is a faster way for B2B companies to reach an audience and build momentum (note: not saying they are the best but they are the fastest). Combining LinkedIn Ads and a great Personal Brand is a deadly combination!
We generated some leads from LinkedIn Outbound, but we decided to switch this off pretty early on as it wasn’t a fit for us. That said, I think LinkedIn Outbound is still a great lead-generating channel, despite many people saying it’s dead! Yes, the old methods may be dead, but there is still plenty of potential for creative approaches.
I was surprised to see we generated a lead from our YouTube channel since it was only launched a few months ago. I believe that YouTube is a huge opportunity for B2B companies right now. The benefit is that customers can watch hours and hours of your content. It’s great for nurturing your existing audience.
Closed Deals & Sources:
You’ll note that we closed the most deals from LinkedIn ads even though more leads came from my personal brand. This is due to the quality of the leads. Inbound on LinkedIn can sometimes bring you “tire kickers” whereas the leads generated from a demand-generating ads campaign tend to be highly qualified and ready to buy.
As you’d expect, the leads generated from referrals had a high closing rate.
Ads also produced the most revenue but was the channel that we spent the most on overall (more than £30k) which was a 3-4X ROAS (return on ad spend).
At some times during the last few months, this has been nearly 10X ROAS but the efficiency declined as we scaled the ads. That’s a lesson for next time - I’ll hire a paid media specialist next time we get to spending £400-500 per day. It gets more technical at this level and needs a real pro at the controls!
What are we doing next?
This last month or so, we have been in a holding pattern. To put it bluntly - our marketing has been working too well and we’re signing clients a little too quickly. I wanted to take a breath and look at our service delivery and operations.
Later on in the year, we’ll be back in growth mode, and the strategy will revolve around:
LinkedIn Ads - to build and nurture our audience
LinkedIn Inbound - to build and nurture our audience
YouTube & this newsletter - to nurture our existing audience
I’d love your feedback: Was this useful? Let me know if you have any follow-up questions.
Happy growing!
- David
P.S. You can find me on LinkedIn and learn more about beetu.be here.
