Quality and Quantity • Paycor & Monks Double Average Lead Value with Google’s Demand Gen

Paycor is a platform built to help leaders recruit, manage and develop high-performing teams through technology that supports everything from payroll to performance management. The SaaS brand needed to scale their primary indicators of pipeline growth, marketing qualified leads (MQLs) and first-time appointments with sales reps (FTAs), but already had a mature digital program in place. With their existing digital strategy reaching a plateau, Paycor challenged Monks to unlock new avenues for scalable growth.

Standard display tactics on the Google Display Network had been relatively effective for the brand; engagement was strong and the campaigns helped maintain visibility with remarketing audiences, but cost-per-click (CPC) was relatively high. To really scale, we turned to AI. Unlike traditional display tactics, Google’s Demand Generation product could learn, adapt and scale outcomes faster if given the right inputs.

Our team designed a two-part Demand Gen strategy tailored to Paycor’s goals. We started by running prospecting campaigns focused on competitor audiences to attract new, high-potential users. Then we layered in remarketing to re-engage users who had already shown interest but hadn’t yet converted. Both campaigns used a mix of static imagery and messaging pulled from top-performing Search ads, but video quickly became a standout performer.

We tested a range of video formats, from 30-second feature clips to five-minute product tours. The long-form videos drove the highest engagement and view-through rates, helping build interest and familiarity with Paycor's offering. The shorter videos were stronger at driving direct conversions. This combination formed an integrated creative system that guided users from awareness to action within the same campaign environment.

To build early traction, we launched with a Max Clicks bidding strategy to give Google room to gather data and optimize delivery. Once the campaigns were capturing enough engagement volume to shift out of the algorithmic learning phase, we shifted to Maximum Conversion Value to align spend with deeper-funnel results. We also implemented a tailored value-based bidding structure that reflected Paycor’s business goals. To align with these goals, we dynamically weighted MQLs based on company size and historical close-rate trends. FTAs and Opportunity Created conversions were given higher, fixed values to reinforce the quality of those users, while early-stage leads were excluded to sharpen the algorithm’s focus on revenue-ready prospects.

When we looked at performance side by side, the difference between the Demand Gen and traditional GDN campaigns was immediately clear: we saw a 2x increase in average lead value, a 90% increase in appointments, and a 20% improvement in cost per opportunity. These improvements reflect the stronger intent and relevance of the audiences we reached through AI-powered targeting and a dynamic value-based bidding structure that mapped directly to Paycor's business priorities. By focusing on signals that aligned with revenue potential, we quickly outperformed legacy display tactics and validated Demand Gen campaigns as a scalable approach to drive pipeline for Paycor.