Case Studies

Achieving a 34% MQL to SQL CVR: ThoughtExchange’s Public Sector Breakthrough

ThoughtExchange is the world’s most trusted engagement and survey platform for leaders who drive change and alignment in their communities. Using their sophisticated analytics and secure OpenAI integration, get broader participation, deeper insights, and actionable ideas in far less time.

With ThoughtExchange, you can access thousands of voices in one conversation—and their AI takes care of the data analysis for you, in minutes instead of months. Hear the what, when, how, why (and sometimes where) of your challenge, with just one question.

The Challenges

ThoughtExchange wanted to expand into another vertical after seeing strong signals for the vertical while advertising to Education. Public was a vertical where the company had little knowledge and understanding of the decision makers, therefore it required a lot of testing. With Education, there was difficulty capturing larger districts sizes and reaching decision-makers, where as for Public, less criteria was need to push potential leads to MQLs or SQLs.

No items found.

The Results

Our aim was to test audiences, messaging and content to this new vertical to understand if this was a feasible vertical to convert quality business. 

Introduced full funnel campaigns across LinkedIn and Google Search, A B testing audiences (list uploads vs job titles), creatives, messaging, and lead magnets while using Marketo data to understand where paid ad leads sat within the funnel. Over a two month testing period, audiences and content were continuously optimized to identify which segments and messaging performed best. The results showed the Public sector was one of ThoughtExchange’s most effective verticals, generating higher volumes of leads, MQLs, and SQLs at a lower cost compared to other verticals. Lower level job titles also converted to opportunities more frequently than in Education or Corporate segments where decision makers are typically C suite. As a result, investing in paid advertising for the Public sector proved highly successful and ThoughtExchange plans to continue prioritizing this vertical.

After 1 month

  • LinkedIn drove an MQL to SQL CVR of 34%
  • Google drove 3 Opps
  • "Community Engagement" content related more to our audience
  • Our Broad targeting (Job Titles) Audience B generated 22% more leads
  • Creatives with stats performed better

After 2 months

  • LinkedIn still generated higher lead volume, however, Google was the driving force behind Opps.
  • Google was the most cost effective channel.
  • Rejected/ Recycled leads decreased by 39% due to refining our audience targeting

Summary

The Public sector proved to be the most effective vertical for driving high volumes of leads, MQLs, and SQLs at a lower cost compared to other industries. Notably, lower-level job titles in this vertical were more likely to convert to opportunities, unlike the Education and Corporate sectors where decision-makers are typically C-suite or above.

Given the strong performance, investing ad budget in the Public sector was highly successful. As a result, ThoughtExchange plans to continue prioritizing this vertical in future campaigns.

Mike Twining

Senior Director of Marketing

When you’re responsible for generating demand for your products and services, it’s important to have the right team. And that’s Rely Digital. Working with the Rely team has been a breath of fresh air. I’ve thrown a lot at them, and swiftly they’ve helped build and scale our ad campaigns across multiple platforms and verticals. They’re a true partner, and together we’ve launched top, middle, and bottom of the funnel campaigns that have produced real results - consistent month-over-month leads that matter. When you’re responsible for generating demand for your products and services, it’s important to have the right team. And that’s Rely Digital.