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Discover Miro's secret: 30% more corporate plan upgrades with no extra budget!
Highlights
Miro offers digital collaboration tools with upgrade options for business or corporate plans; sign-up starts free and conversion to paid status typically spans days if not weeks.
Campaigns Before Voyantis relied on sign-up rates as a proxy KPI for Google campaign optimization. Voyantis reshaped the goal for Google campaigns, bringing in the probability of converting free trial users into paying corporate clients.
Armed with the new predictions, Miro conducted an A/B test with value-based bidding and a tROAS goal.
Miro achieved a 30% uptick in paying customers at the same spend, plus a 33% boost in pROAS.
The icing on the cake is that Miro also achieved long-term gains, including a 14% increase in average seat count per customer at renewal and a 35% boost in annual plan subscription share
“Not only have we brought more paying accounts with the same media spend, we brought accounts with higher value. We brought more annual plans (compared to monthly plans). We also acquired teams with a higher number of members for each account”
The Challenge
Your funnel without Voyantis
Your funnel with Voyantis
Miro’s funnel begins with a free trial. Most conversions to paid users take place after the first 7 days if not longer.
Given their lengthy conversion funnel, Miro used a proxy KPI (corporate sign-up) to optimize its Google campaigns.
Optimizing according to sign-ups wasn’t optimal because it didn’t directly reflect the likelihood of converting to paid users.
Miro realized they needed to optimize for a signal further down the funnel, and ideally move from tCPA to value-based bidding.
The Pilot
- Miro conducted a test with 5 non-branded search campaigns targeting a US audience, equally dividing the budget between a control group and a Voyantis experiment group.
- Control vs. Voyantis Group: The control group focused on optimizing for the old goals, tCPA, and corporate sign-ups. In contrast, the Voyantis group optimized for the likelihood of converting to a paying user, based on Voyantis’ proprietary AI prediction models.
״We were able to bid more effectively while bringing in more users, it is important because it sets the stage for future scaling. It was important to verify that the new bid strategy with Voyantis is scalable״
How does it work
Data Processing & AI prediction model
Voyantis developed bespoke prediction models using only anonymized data, generating conversion forecasts based on Miro's anonymized engagement, transaction, and onboarding data.
Privacy First
Voyantis' AI engine analyzes Miro's customer behaviors and attributes, identifying signals and patterns that predict the transition from trial users to paying customers.
Google and Meta Orchestration
Voyatnis’ user-level predictions are fed to Google using their Server API informing Google’s Valube Based Bidding algorithms.
Quality Verification
The model is constantly tested and verified by the Voyantis AI engine to generate the highest accuracy of future predictions and maintain effectiveness as Google’s algorithms change.
The Impact
The results of the pilot clearly indicate the advantage using value predictions for improving campaigns outcomes.
ROAS Uplift
Growth Improvements
pROAS Boost: Miro experienced a 30% surge in paying customers and a 33% increase in predicted ROAS, with the same campaign budget.
Long-Term Benefits
Beyond immediate pROAS gains, long-term revenue impact was achieved, with renewals boasting an increase in average seat count per customer and annual plan subscriptions taking 35% more share over monthly ones.
Scalability
Voyantis' predictive impact remained robust, as Miro increased budgets and scale, suggesting widespread applicability across Miro's operations.
“Working with Voyantis is a game changer for our marketing performance. We consider Voyantis as partners, not as vendors. That’s a different state of mind”
