How Oticon Reduced Their Lead Acquisition Costs By 68% in 8 Months

Oticon, a global leader in hearing aid technology, based in Copenhagen, Denmark was one of the first to launch internet-connected hearing aids. Along with that, their patented BrainHearing™ technology has changed the world of hearing aids significantly. Essentially by acknowledging that hearing is processed by the brain and not your ears, they’ve been able to develop hearing aids that allow your brain to take in full sound scenes to people with hearing loss.

The research and the technology to accompany this are fascinating. In fact, their keynote on the subject is out of this world 👇.

What Was The Challenge?

Although an estimated 1 in 5 people worldwide live with some degree of hearing loss. More than that, it’s also estimated that only 17% of people that suffer from hearing loss will use a hearing aid.

In South Africa, approximately 12 million South Africans have some form of hearing loss but only less than 10% of those people are receiving treatment.

Those numbers paint quite a picture when help and technology are on hand to overcome hearing problems for most people.

Oticon in essence was struggling to reach new audiences to educate and bring awareness to the hearing loss landscape in the country as well as shed light on the hearing solutions on the market. As a result, they were experiencing high lead acquisitions costs that just were not sustainable to achieving their longer-term marketing and sales objectives.

More specifically:

1. They needed to reduce their cost per lead from the R117.35 it was costing them.
2. They needed to generate more leads on a monthly basis.
3. They needed to increase the number of appointment requests with hearing care professionals.

What Was The Solution?

Our approach to helping Jasmine, the Marketing Director and her team reach her goals was to run an inbound strategy workshop that would help achieve two things:

1. Unpack who Oticon’s primary buyer persona’s are and,
2. To unpack what their overall goals were.

This then led us to create the following strategy for Oticon:

• Create a non-branded website - Sound Advice as a way to educate their personas about hearing difficulty.
• To create and run various lead generation campaigns that would help generate good fit leads to be handed over to their hearing care professional partners.
• To achieve the volume of leads required, we would use highly targeted paid social media advertising to drive traffic to the above lead campaigns.
• To implement HubSpot Pro on the non-branded site to track campaign performance, engagement, and most importantly to improve their customer's experience.

What Were The Results?

The above strategy far surpassed what the initial agreed KPIs were 👏.

We built a number of custom landing pages using HubSpot where all of our campaign assets would be housed for easy performance tracking.

Once the campaigns were ready to go, we created highly targeted Facebook ads to reduce their cost per lead from R117.35 to R46.80!

That’s a 68% reduction in lead acquisition costs.

What about the number of leads generated?

Oticon was previously generating approximately 409 leads per month. With the targeted Facebook ads, the average number of leads we were able to generate was 1689 new leads per month! Achieving an overall session-to-contact rate of 23.53% - well above the 5-8% industry average.

What about appointments booked with Hearing Care Professionals?

We were able to move the needle on appointments booked significantly. Initially, Oticon averaged 23 appointment requests per month, with the success of the lead generation campaigns we were able to increase that to 107 appointment requests per month.

What Was The Impact?

Jasmine and her team are a dream to work with, they are highly skilled and collaborative, making our collective efforts to achieve their marketing and sales goals a whole lot easier.

We believe the impact we had along with the Oticon team were significant:

• We were able to fully implement the HubSpot CRM with detailed and customised onboarding and ongoing training with their sales team.
• Achieving a 68% reduction in lead acquisition costs, meant that Oticon was able to see a far greater return on their overall marketing investments.
• The lead generation mechanism we helped build is one that’s repeatable and scalable and has had a direct impact on booking requests and end-product sales for Oticon.
  
• 312% increase in leads p.m.
• 365% increase in appointment requests p.m.
• 68% reduction in the average cost per lead.

Need I say more? Uku Inbound services and capability are well worth the money! We are exceptionally delighted - Jasmine Du Preez, Head of Marketing, Oticon.

If you’re looking to supercharge your own lead generation activities then click 👉 here to get in touch - it’s kinda what we do.