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Paid acquisition optimization for Mixpanel.
164% increased number of leads with
67% decrease CPL
Platforms
LinkedIn Ads, Google Analytics, Salesforce
Industry
Product
analytics
Goals
Increase the number of leads keeping sustainable LTV:CAC

Key results
67% CPL↓
164% Number of leads↑


Mixpanel helps companies measure what matters, make decisions fast, and build better products through data. With their powerful, self-serve product analytics solution, teams can easily analyze how and why people engage, convert, and retain to improve their user experience. Mixpanel is trusted by over 6,000 paying customers including Twitter, DocuSign, eToro, amongst others.

Challenge
The main goal was to optimize Mixpanel’s LinkedIn Ads account to establish a profitable lead generation channel within the target CPL. The account had the following challenges:
1
Complex account structure
The structure of the account comprised 7 campaign groups divided by regions (EMEA and APAC). In total, we had 60+ campaigns with different objectives, targetings, and messaging.
2
Multiple ad types
There were also multiple ad types within each campaign group: Spotlight Ads; Sponsored Content Ads; Conversation & Messaging ads.
3
Issues with conversion tracking
With this magnitude, there was no uniform system for tracking conversions - the client didn’t receive accurate statistics on the campaigns level. Due to incorrect UTMs in the ads and lead forms, it was impossible to see which exactly campaign generated qualified lead, hence, there were no insights for campaigns’ optimizations.
Solution
Our team started with reorganizing the account to be sure we get accurate data, and establishing the process of campaigns’ performance analysis.
Conversion tracking setup
Reorganized conversion tracking to collect the data on the ad account level and comparison with Salesforce data on qualified leads and contacts.
Lead Gen Forms campaign launch
Created and set up 30+ Lead Gen Forms to assign the source of the traffic correctly to Salesforce leads and be able to see which campaign exactly generated a qualified lead.
UTMs creation and setting
Checked, standardized, and fixed all the UTMs to ensure correct data in Salesforce and see which asset generated a qualified lead in SFDC to make data-driven decisions about the campaigns.
Data-driven approach establishment
Initiated the process of weekly analysis of each campaign performance, comparison with the previous period, and applying necessary optimizations.
As for increasing the number of leads within target CPL, this complex process consisted of regular analysis, optimizations, and testing.

To engage users and attract a relevant audience, the team completed the following tasks.
  • Created the audiences by search terms based on UTM parameters
The team created the audience “Traffic from Google Ads campaigns” that collects the users based on certain URL parameters. It allowed us to reach people who used relevant search terms on Google, with our ads on LinkedIn. This is useful because on Google the traffic is usually better as users there have a direct intent to buy there.

  • Launched Spotlight Remarketing campaigns for all regions
Previously, not all regions had remarketing campaigns, plus, Mixpanel didn’t test Spotlight ads before. We launched the new type of ads for Mixpanel with the aim to retarget the users who already interacted with the ads/website.

  • Launched Video campaigns for all regions
To test the ads with video as an alternative to static images, the team prepared and launched video ads campaigns based on the remarketing audiences and top targetings from existing campaigns.

  • Created remarketing audiences
To use complex remarketing strategies, we implemented a granular audience setup by creating all kinds of custom audiences based on the following:
- engagement with Lead Gen forms,
- engagement with Mixpanel Company Page on Linkedin,
- website pages visits,
- conversion actions completed by users,
- engagement with the video ads.
Client testimonial

Results

164%
Number of leads
67%
Cost per lead
Applying all the above-mentioned strategies, along with lowering the total spending, Teamedia managed to increase the number of qualified leads by 164% in the first 6 months of cooperation with Mixpanel. At the same time, CPL decreased by 67%.
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