Case Study: Paths to Profit Case Study
Paradigm Marketing and Design is a web, branding and marketing agency that specializes in “wraparound” services, whereby each marketing initiative supports the overall strategic plan to produce a long-term return on investment. From strategy development to execution, from single component delivery to comprehensive campaigns; our services are designed to offer clients the level of support they need. We are all focused on the same objective; creating impactful initiatives that help our clients achieve long-term growth. This is a case study that Paradigm Marketing and Design executed on its own behalf.
During the initial hit of COVID-19, Paradigm’s revenue was down 40% and the pandemic made old marketing tactics unreliable. Our typical means of marketing halted, and the sudden drop in revenue forced Paradigm to cut advertising budgets. We had to find new ways to increase revenue by reaching new audiences at a lower cost.
We decided to gather a team of likeminded business leaders who served the same target audience as Paradigm and offered complementary services. We assembled ten businesses and together, we developed the idea of a virtual summit. This summit would provide guidance and information to our audience, answering questions on how to survive and thrive during the COVID-19 economic downturn.
Our goal was to combine efforts, increase innovation, and marketing reach, all while decreasing the cost of advertising to new prospects.
We organized a cross marketing plan between businesses and coordinated organized strategizes to promote the event. Being that there were ten different businesses involved, this campaign required detailed planning and execution to ensure success.
The partnership increased each party’s audience reach 1000% while decreasing the cost of advertising by 1000%.
With the addition of all partner resources:
- Paradigm’s email reach went from 10,000 to 100,000.
- Paradigm’s social media following went from 3,000 to 30,000
- Paradigm’s overall marketing budget went from $500 to $5,000
After only two weeks of marketing, the event attracted over 600 registrants.
The campaign took strides after the event. The group developed a coordinated follow up plan to conserve efforts and avoid bombarding the participants with sales outreach from ten different companies. After the event, each team member obtained exponential brand awareness and received the registrant list to follow up. To do so, we set up a series of links within the follow email drip campaign. Each linked focused on different resources that each partner brought to the event – therefore as registrants opened emails and clicked on links that interested them, we collected this data to allow for niche follow up strategies.
Each member concluded with a spike in social following and additions to their email list as well as new client acquisition.
Paradigm was able to close two clients valued at $250k/year.