Discover Miro's secret: 30% more corporate plan upgrades with no extra budget!

Case Study

Miro

Industry

PLG, Digital collaboration

Highlights

Miro's Freemium Model: Offers digital collaboration tools with upgrade options for business or corporate plans; 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.

Voyantis A/B Testing Armed with the new predictions, Miro conducted an A/B test with value-based bidding and a tROAS goal.

Clear Results: Achieved a 30% uptick in paying customers at the same spend, plus a 33% boost in pROAS.

Chef’s Kiss: Long-term gains included 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”

Robbert Smit

Head of Paid Marketing

The Challenge

Campaign funnel with/ without Voyantis | Visual

Campaign funnel without Voyantis | Visual

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

1. Experiment Setup: 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.

2. 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״

Robbert Smit

Head of Paid Marketing

How does it work

Data
processing

Voyantis developed bespoke prediction models using only anonymized data, generating conversion forecasts based on Miro's anonymized engagement, transaction, and onboarding data.

Prediction model generation

Voyantis' AI engine analyzes Miro's customer behaviors and attributes, identifying signals and patterns that predict the transition from trial users to paying customers.

Value-based bidding

Voyatnis’ user-level predictions are fed to Google using their Server API informing Google’s Valube Based Bidding algorithms.

Accuracy 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 indicated the advantage of using value predictions for improving campaigns outcomes.

pROAS increase

pROAS Boost: Miro experienced a 30% surge in paying customers and a 33% increase in predicted ROAS, with the same campaign budget.

Longer term impact

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.

Scalable effect

Scalability: Voyantis' predictive impact remained robust, as Miro increased budgets and scale, suggesting widespread applicability across Miro's operations.

+30%

New Paying Corporate Customers

+55%

New Corporate Trials

+35%

Annual Plans

+14%

Average Seat Per Renewing Customer

“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”