SaaS Company Successfully Launches Product Add-On

SaaS Marketing Case Study

The Challenge

After listening to their suppliers, it became apparent that Oildex needed an add-on that allowed buyers and suppliers to seamlessly interact and exchange invoices. OpenInvoice Supplier Link is the add-on Oildex developed to streamline the accounts receivable process for their suppliers.

Because buyers and suppliers interacted with their software very differently, Oildex understood the importance of addressing their new target audience with a unique message.

However, there was no strategic vision to launch OpenInvoice Supplier Link to the market.

About Oildex

As a leader in financial operations, Oildex manages the largest business network in the oil and gas industry. They offer a full suite of financial supply chain automation solutions including collaborative workflow software and secure digital data exchange services.

Getting Started Launching OpenInvoice Supplier Link

Demo Sign Ups

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Email Click-Through-Rate

Monthly Reoccurring Revenue Potential

How We Made It Happen

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Public Relations

Very few product launches are completed successfully without the right amount of public relations. With a press release that was the right balance of information, beta customer testimonial, and lead source, Oildex was able to secure multiple oil and gas industry mentions in the digital space.
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Demo Video

It’s difficult to communicate what a new product add-on can do without visual representation. To overcome this, we included a quick two-minute demo video providing suppliers with enough guidance to see how easy OpenInvoice Supplier Link is to use.
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Product Sheet

OpenInvoice Supplier Link was a new software add-on with no supporting content anywhere. For prospects on the edge of making a purchase or scheduling a demo, Oildex needed top-of-the-funnel content to relay the right information.

This product sheet was made available during pre-launch efforts to boost awareness and gauge interest. This gave Oildex the perfect opportunity to craft a separate email drip campaign for the suppliers who showed initial engagement.

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Informational Blogs

While there’s a lot of information about accounts payable on the Oildex blog, there needed to be a shift in focus toward helping guide the suppliers’ purchasing process.

Matrix developed a series of blog posts that identified an accounts receivable problem and then provided the solution in the form of OpenInvoice Supplier Link.

Turning On Lead Generation

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Landing Pages

There were two landing pages built in Pardot to capture visitor information and gauge prospect interest. The pre-launch landing page was put in place to identify which suppliers had an immediate need for OpenInvoice Supplier Link. This allowed us to design a unique email campaign built around their engagement level.

The second landing page was built as a lead magnet for the OpenInvoice Supplier Link 60-day demo.

With Pardot in play, we decided to approach these critical lead generation avenues:

  • Public Relations
  • Blogging
  • Content Creation
  • Social Media
  • Remarketing
  • Email Outreach

Remarketing

With a small ad budget and a particular target in mind, remarketing made the most sense for Oildex’s product launch. As visitors hit their landing pages, they were added into the ads retargeting list. They were served with a handful of simple ads with the intent of bringing them back to complete a product demo.

Outbound Email

With a database that already knew Oildex, this wasn’t a typical cold outreach email campaign. The emails were well received with some of the top contenders receiving open rates as high as 60 percent and click-through-rates up to 25 percent!

Social Media

Whether it be LinkedIn or Twitter, building a social media audience is a critical marketing channel during a product launch and beyond. Matrix developed a supplemental social media calendar that mixed accounts receivable content into the original Oildex calendar.
  • Product Launch 100% 100%
  • Marketing Strategy 80% 80%
  • Lead Generation 60% 60%
  • Brand Awareness 40% 40%

The Results

Oildex saw amazing results within the first few weeks of our campaign:

  • Demo Sign-Ups: 41 demos were registered during the first week, and 257 were registered by the end of the project.
  • Leads: 15 percent of all landing page visitors turned into a conversion.
  • Database: Cleaned to an average 99 percent delivery rate, which was the foundation of these phenomenal results.
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