Harvest, a SaaS-based time tracking platform, serves the time tracking and billing needs of thousands of customers around the world, from freelancers to small businesses to departments within Fortune 500 companies.
Harvest came to Closed Loop needing to massively scale their business while simultaneously increasing ROI. They needed a partner that would be able to help support their freemium model while also optimizing to the lifetime value (LTV) of a customer.
Immediately Closed Loop instrumented granular tracking to monitor various customer events at the campaign, adgroup, device type, keyword, and ad level. Using Forager, Closed Loop then blended ad platform data with Harvest’s internal database to provide insight into every stage of Harvest’s sales funnel – free trials, demos, sales and LTV. With visibility into the entire customer journey, Closed Loop was able to optimize the campaigns to maximize LTV while balancing the need to keep trials coming into the top of the funnel.
This lifetime value calculation was then built into the ongoing reporting, enabling 2 separate views into channel performance based upon an initial free trial and a secondary view into channel performance based upon the trial upgrade. Closed Loop also incorporated Harvest’s SaaS pricing tiers and annual vs. monthly payment intelligence into Forager, enabling custom reporting to meet the unique needs of this high-growth SaaS business.
- 566% increase in trials in the first 12 months
- 54% increase in trials during the most recent 12 months