monday.com Drives Lead Gen Efficiency and Brand Value With Gartner Digital Markets

In 2015, monday.com launched lead generation campaigns on the Gartner Digital Markets’ platform to amplify its acquisition strategy beyond paid search programs.

"If we see a 7% conversion rate in our paid search ads, there are still 93% of buyers that are currently in-market that we can capture. To get in front of those buyers, we need to be where they are searching for software," said Kirshenboim.

Gartner Digital Markets' software review sites receive 9 million monthly visitors and searches for project management software have increased by 36% over the past year. Kirshenboim indicated, "There's a large demand for our type of software due to businesses' digitalization, meaning we receive a lot of high-intent traffic. However, with over 1,500 products listed in the category, it can be challenging to stand out." 

As the industry has matured and more competitors enter the market, monday.com has expanded into niche categories on Capterra, GetApp, and Software Advice that cater to specific buyers and use cases. 

"Testing was easy and agile because Gartner Digital Markets allows full control of our profile content and accurate tracking by geography and category. That helped us be unique in each of the 100+ categories we are featured in and increase visibility among high-intent buyers with specific needs," explained Haim Fogel, User Acquisition Manager at monday.com.

With a deep understanding of buyer needs and behavior, the company is able to tailor campaign messages and channels to each segment so that prospects immediately perceive the value of its product and engage with its content.

Ultimately, monday.com's personalized approach to lead acquisition has optimized conversion rates across the funnel and has been key to its success.

With an optimized performance marketing strategy, lead acquisition is the main driver of growth for monday.com. Kirshenboim highlighted, "We prioritize pull channels, such as paid search and pay-per-click campaigns on Gartner Digital Markets, because we can target higher-intent buyers at the bottom of the funnel, and these campaigns deliver better ROI."

The company's data-driven approach to marketing spending aims at maximizing cost efficiency. "We measure everything to understand how each dollar we invest translates into revenue. Our attribution model helps us analyze the value each channel generates so we know where to allocate our budget and resources to get the most out of every click," said Kirshenboim.

Performance marketing and brand awareness aren't necessarily disconnected in monday.com's strategy. "Performance channels like Gartner Digital Markets also provide brand value. Even if prospects don't click on the ad, they are still seeing it and understanding who we are and what we offer," continued Kirshenboim.

In addition, reviews also play an important role in building monday.com as a strong brand and earning mindshare in the project management space and beyond. "A good amount of recent, positive reviews provide reliability and help buyers in their decision-making process. Besides, reviews increase discoverability of our product features for specific use cases and reduce user friction," said Fogel. 

Performance marketing efforts to capture buyer demand propelled monday.com's growth in recent years. The company reported that it experienced a 79% CAGR annual revenue increase between 2020 and 2022.