About Premier Workspaces
Premier Workspaces® (formerly Premier Business Centers®) (https://www.premierworkspaces.com/) operates the one of the largest privately-owned executive suite and alternative workspace company in the United States with locations in Arizona, California, Colorado, Florida, Hawaii, Illinois, Nevada, New Jersey, New York, Ohio, Texas, Washington, and the District of Columbia. Since 2002, the company has grown from nine to 90 centers, providing over 1.5 million square feet of commercial office space and serving more than 15,000 clients daily. Premier offers fully serviced private offices, meeting rooms, virtual office addresses, and coworking membership enabling businesses of any size to maximize productivity and profits as well as establish an immediate professional presence at major business locations throughout the country. With Premier, professionals can Work Whenever, Wherever, However®. Learn more about Premier Workspaces.
What was Premier Workspaces looking to achieve?
Premier Workspaces was paying over $200 per lead when they started working with us. They needed to increase the number of leads they were receiving while maintaining their current marketing budget. Premier Workspaces operates nationally in 90 different locations, so many of the campaigns where replicated and deployed in different markets.
How We Exceeded Premier’s Expectations
Premier Workspaces was previously known as PB Centers, and our engagement started with them before their rebranding effort.
PB Centers previous marketing efforts were yielding leads (form fills and phone calls) for between $186 and $171 per lead, depending on the month (office leasing is a very seasonal business).
The Average CPC was around $5.37, the Avg CTR was between 1.71% and 3.04%, and the Avg Conversion Rate was 2.25% and 3.65%.
Without changing any of the landing pages, the team only focused on improving the bidding strategy, ad copy, and keywords being targeted.
After a month of reworking the existing campaigns we were able to drop the CPL to $89, the Avg CPC dropped to $3.09, the Avg CTR increased to 3.51%, and the conversion rate improved to 4.55%.
Original CPL: $171-$186
Post Optimization CPL: $89
Original Avg. CPC: $5.37
Post Optimization Avg. CPC: $3.09
Original Avg. CTR: 1.71-3.04%
Post Optimization Avg. CTR: 3.51%
Original Conversion Rate: 2.25-3.65%
Post Optimization Conversion Rate: 4.55%
Financial Impact
The financial impact of our marketing optimization efforts was dramatic. While maintaining the month budget our team was able to increase the number of leads from 71-151 per month to 350 per month. At the beginning of our engagement there were only 15 locations at 90% occupancy or greater. 6 months later that number climbed to 59 (65% of all locations). Beyond occupancy rates the number of virtual office memberships and gross number of conference room hours booked had increased 50% and 205% respectively.
Marketing Goals Achieved and Exceeded
The stated goal of delivering qualified leads at $125 each was surpassed by 34%, giving us the ability to drive 30% more leads than desired. This has led to record numbers in occupancy, memberships, and revenue in the history of the company.