return on investment in 2022
improvement in conversion rate vs. previous period
company value at IPO on London Stock Exchange
Northcoders is a software development bootcamp that went public with an IPO on the London Stock Exchange in 2021. Savvy early investors have enjoyed a neat 62% gain with Northcoders’ share price climbing to 296p in just over 6 months, with a market cap of £20m (correct at: 1st March 2022) Northcoders appointed Target to help accelerate its growth with paid media lead generation. The biggest challenge that the brand faced was the quality of its MQLs. The previous agency had been driving leads through a pre-populated Meta Ads lead form, resulting in high volume, low quality unqualified leads that were difficult to convert. With that in mind, the Target team set out to improve the quality and conversion rate of Northcoders' MQLs, whilst maintaining the current volume of monthly leads.
Our highest priority was to plan and develop a series of new landing pages on the Northcoders website, to replace the dreaded Meta Ads lead form. Each landing page is rich in course information, testimonials and pricing; ensuring that users know exactly what they are signing up for, which has improved the quality of MQLs. For greater transparency and reporting, we integrated the campaign landing pages with Northcoders' HubSpot CRM to enable their team to nurture leads with email workflows, tracking each lead through the sales journey and attaching a financial value against those that convert. At a channel level, the key approach adopted by the paid media team was localisation. We split Google, TikTok & Meta Ads campaigns out into territories that aligned with catchment areas with Northcoders' campuses, and designed creative and copy that used local references and colloquialisms for greater relevancy and personalisation. A quick win on Google Ads was the implementation of thousands of negative keywords that had previously gone unnoticed which improved CTR, CPL and conversion rate metrics overnight. We then re-ran the keyword research to identify long-tail keyword variations that better matched user intent, which set Northcoders well on their way to transformative paid media results...
We are proud to say that our paid media team has repaid the trust placed in them by Northcoders. Conversion rate is up by 220% over the past 6 months; Northcoders is able to calculate an ROI (paid media revenue of converted leads divided by total ad spend + agency fees) of X52.5.
Next on our masterplan is scaling up Northcoders' paid media campaigns, followed by the creation of a SEO & Content strategy. After conducting our keyword research and gap analysis, our team found significant search volume for informational tech queries. We plan to develop an FAQ section on Northcoders' course landing pages, with the aim of winning the featured snippet in Position 1 in the SERPs for our target search terms. As part of this strategy, we plan to create a monthly content strategy that answers the development community's questions and ultimately, drive top-of-funnel organic traffic into the site for Northcoders.
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