Hitting $10M ARR in 26 Months: Lessons from Lemlist to HeyReach

LinkedIn Ads Cost 40x More But Deliver 10x Better Leads ft. Nico Kusterer

LinkedIn Ads aren’t just the cool new way to market yourself - they’re a building block to your delivery funnel. In this episode of LinkedIn AdWise, host Justin Rowe welcomes Nico Kusterer, Founder of The One Media and former LinkedIn Certified Marketing Expert, to discuss the gap between how most companies run LinkedIn ads and what actually drives the pipeline. What You'll Learn: * How to build an intent-based full funnel strategy  * Why most agencies waste big budgets on LinkedIn and how to get it right  * The targeting precision framework to identify high-intent accounts * How thought leader ads outperform company ads * Why LinkedIn Ads is a better option when it comes to cost-per-quality-lead  * The 16-week pipeline framework and why it works only for specific clients Turns out marketers have been missing one of the most efficient pipeline generation strategies of their time.  Episode Resources:  * Nico Kusterer on LinkedIn [https://de.linkedin.com/in/nicokusterer] * The One Media Website [https://www.theonemedia.de/]  [https://www.breakingb2b.com/] * Justin Rowe on LinkedIn [https://www.linkedin.com/in/justin-rowe-4043339b] * Impactable Website [https://impactable.com/] Episode Highlights 15:08 Start with Mid-Funnel to Prove Conversion Before Scaling Top-of-Funnel Nico's framework inverts the typical awareness-first approach by beginning with high-intent mid-funnel campaigns using lead magnets and retargeting, then layering awareness campaigns on top once conversion proof is established. This strategy directly addresses the gap between messaging intent and audience mindset - a critical failure point when companies spend €15-20 per click with cold targeting and sales-heavy copy. By validating that your offer actually converts with warm audiences first, you earn internal alignment to scale budget upward without wasting spend on untargeted awareness.  22:33 Segment Audiences by Intent Intensity and Maximize Conversion Nico's intent-based full-funnel framework identifies behavioral signals at each stage (video views, document interactions, engagement depth) and dynamically adjusts ad frequency based on how intensely each audience segment is responding. Most B2B marketers run generic quarterly campaigns with scattered retargeting, leaving conversion upside on the table and wasting impressions on cold segments. The LinkedIn Company Tab now enables account-level intent identification; pair it with person-level behavioral signals to move segments through the funnel based on their actual engagement depth.  25:03 Allocate 80% of Budget to Thought Leader Ads Nico invests 80% of The One Media's own budget in thought leader ads (personal profile posts boosted as ads) because they achieve higher engagement, stronger trust-building, and ultimately better conversion than company-page ads. This is because users naturally consume personal content with more interest than corporate messaging. The format creates a win-win: LinkedIn shows audiences genuinely valuable content and you pay to scale that value to your ICP, making the platform mechanics align with authentic engagement.  33:36 Measure Cost Per Quality Lead and Closed Deal Instead The "LinkedIn ads are expensive" myth dies when you track beyond surface metrics to CRM outcomes: LinkedIn's higher CPM and CPC are justified by 2-3x higher lead quality, better ICP alignment and dramatically higher close rates compared to Meta and other channels. Nico's access to HubSpot data across dozens of accounts shows that when you measure cost per closed customer (not cost per lead), LinkedIn often outperforms platforms with supposedly cheaper per-click costs because sales teams are motivated to work high-quality leads and conversion rates are substantially higher.  LinkedIn AdWise is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

The Hidden Settings Killing Your LinkedIn ROI with Robert Muldoon

Most LinkedIn advertisers focus on surface-level optimizations, and hence,  they’re missing the hidden settings quietly draining their budgets. But what if the real issue isn’t performance; it’s the way campaigns are structured and scaled? In this episode of LinkedIn AdWise, host Justin Rowe sits down with Robert Muldoon to reveal why most accounts are fundamentally flawed, how thought leader ads turn credibility into conversions, and why connecting hidden data signals is the future of attribution. Tune in to learn how to eliminate wasted spend, modernize your strategy, and unlock smarter, scalable LinkedIn growth.  What You'll Learn: * The four-out-of-five audit finding that reveals most accounts are broken * How to spot the real budget killers before they drain your spend * Why innovation debt kills better-performing accounts faster than inexperience * The thought leader ad framework that transforms paid into earned credibility * How to build a conversation ad strategy that feels natural, not promotional * Why attribution tools are about to become obsolete (and what replaces them) *  The unsexy truth about operating systems for AI-powered marketing Tune in for an eye-opening conversation on optimizing your LinkedIn ROI. Episode Resources:  * Robert Muldoon on LinkedIn [https://www.linkedin.com/in/robmuldoon/] * Tuned Social Website [https://www.tunedsocial.com/]  [https://www.breakingb2b.com/] * Justin Rowe on LinkedIn [https://www.linkedin.com/in/justin-rowe-4043339b] * Impactable Website [https://impactable.com/] Episode Highlights * [04:49] Most LinkedIn Accounts Rely on One Flawed Tactic  Robert explains that nearly 80% of LinkedIn ad accounts rely on a single tactic, and often execute it poorly. This pattern spans all budget levels, revealing a major strategic gap. High-performing teams diversify across audiences, formats, and funnel stages, treating campaigns like a portfolio. Running multiple complementary tactics reduces risk, improves efficiency, and unlocks significantly more of LinkedIn’s potential than single-track approaches. * [06:10] Hidden LinkedIn Settings Quietly Drain Ad Budgets Robert highlights four overlooked settings, audience expansion, LinkedIn Audience Network, max delivery, and bid multipliers, that silently inflate costs. Often enabled by default, they expand reach but reduce efficiency. Disabling or controlling them can significantly cut cost per lead without hurting volume. Regular audits are essential, as LinkedIn frequently reshuffles these controls, making it easy for advertisers to lose visibility and overspend unknowingly. * [18:13] Thought Leader Ads Turn Organic Wins Into Paid Scale  Thought leader ads combine organic testing with paid amplification. Marketers first identify high-performing posts from executives or experts, then promote them to targeted audiences. This reduces creative risk and boosts authenticity, as content already resonates. The format is quick to deploy and builds trust at scale. Pairing these ads with conversation ads from the same voice further strengthens familiarity and engagement. * [25:21] Why LinkedIn Attribution Misses Most Buyer Signals  Traditional attribution tools fail to capture key LinkedIn signals like profile visits, engagement trends, and account-level activity. Muldoon suggests combining multiple data sources to build a clearer picture of buyer intent. By stitching together these signals, marketers can identify high-intent accounts earlier, optimize spend, and time outreach more effectively—gaining an edge over teams relying solely on standard attribution models. * [29:19] Claude Analytics Replace Dashboards With Smarter Insights  AI tools like Claude are shifting analytics from static dashboards to dynamic questioning. Instead of relying on predefined reports, marketers can analyze raw data in real time and uncover hidden insights. This approach prioritizes curiosity and strategic thinking over tooling. Teams that ask better questions and iterate quickly gain faster, deeper insights than those waiting on traditional BI workflows. LinkedIn AdWise is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

LinkedIn Isn’t Expensive: Your Strategy Is with Philip Ilic

Since LinkedIn ads got labeled “too expensive,” most marketers have been optimizing the wrong thing. But what if the real issue isn’t cost, it’s your targeting and strategy? In this episode of LinkedIn AdWise, host Justin Rowe sits down with Philip Ilic to unpack why LinkedIn is actually a premium content distribution platform, how penetration and frequency drive real influence, and why most attribution models miss the majority of the pipeline. Tune in to learn how to rethink ROI, saturate high-value accounts, and use AI to prove impact beyond last-click metrics. What You'll Learn: * How to reframe the "LinkedIn is too expensive" objection  * The Penetration & Frequency Strategy for ABM lists * How to use LinkedIn Company Hub data as a heat map  * Why Thought Leadership Ads outperform all other formats * The "Influence Pipeline" metric that most agencies miss * How to use AI (Claude + MCPs) to build scalable, insight-driven reporting Tune in for an eye-opening conversation on optimizing your LinkedIn strategy. Episode Resources:  * Philip Ilic on LinkedIn * Kiin.co Website [https://kiin.co/]  [https://www.breakingb2b.com/] * Justin Rowe on LinkedIn [https://www.linkedin.com/in/justin-rowe-4043339b] * Impactable Website [https://impactable.com/] Episode Highlights * 10:17 Thought Leader Ads + Middle-of-Funnel Content Saturation = Higher Everything  Philip argues that Thought Leader Ads work best when used for focused middle-of-funnel saturation, not full-funnel campaigns. By delivering 7–10 pieces of content to a defined account list with high frequency, marketers can communicate value, differentiation, and proof directly to decision-makers. Because people trust people more than brands, engagement and pipeline quality improve significantly. This approach prioritizes credibility, repetition, and relevance over reach, driving stronger conversion outcomes. * 12:38 Penetration & Frequency Over Broad Reach Philip and Justin emphasize that ABM success depends on penetration and frequency, not reach. Instead of broad targeting and retargeting layers, focus on saturating a fixed list of high-value accounts. Aim for multiple impressions across several content assets to shift perception. Track penetration rates over time to identify diminishing returns, then reallocate budget strategically. This method reduces wasted spend, ensures better account coverage, and ties investment directly to measurable account-level impact. * 17:20 Use LinkedIn as a Signal Hub LinkedIn can act as a diagnostic tool to identify which accounts are actually reachable. By running ABM campaigns and tracking which accounts fail to reach meaningful impression thresholds, marketers can isolate low-activity audiences. These accounts should then be targeted on other platforms like Meta or programmatic channels. This channel-specific strategy avoids wasted spend from blanket omnichannel campaigns and improves efficiency by aligning each account with the platform where engagement is most likely. * 20:06 Stop Obsessing Over CPM: Start Measuring Customer Acquisition Cost – Philip reframes the “LinkedIn is expensive” argument by shifting focus from CPM and CPC to customer acquisition cost relative to lifetime value. Cheap clicks often produce low-quality leads, while LinkedIn enables access to high-value buyers. By calculating acceptable CAC based on ACV and LTV, marketers can justify higher upfront costs. This shift moves the conversation from vanity metrics to revenue impact, helping teams secure budget and position themselves as strategic drivers of growth. * 36:33 Reframe LinkedIn as a Content Distribution Platform Philip’s core message is to reposition LinkedIn as a premium content distribution platform rather than a performance channel. Instead of optimizing for clicks, focus on delivering high-quality impressions to the right audience. This shift reframes higher CPMs as justified investments in reaching decision-makers. By measuring reach, frequency, and influence rather than CTR, marketers can better align LinkedIn with brand-building efforts and unlock more strategic, long-term ROI. LinkedIn AdWise is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

Is AI Generated Content Destroying Your Brand? ft. Rob Young

Since GenAI hit the content space, everyone’s been thrilled by how quickly it makes things. But what if the content you're creating is actually damaging your brand? In this episode of LinkedIn AdWise, host Justin Rowe sits down with Rob Young, Global CMO at LockThreat GRC and Founder of MarketingHQ, to explore why thoughtful content creation is non-negotiable in today’s marketing landscape.  What You'll Learn: * Why AI-generated content is worse than no content at all * How to structure your marketing engine around thoughtful content creation and strategic distribution  * The difference between "tactical thought leadership" and actual brand-building * How to use thought leader ads to extend credibility beyond your network * Why "dark funnel" metrics matter more than vanity attribution * The pragmatic middle ground on attribution and MQLs Tune in for an eye-opening conversation on building an AI-resilient brand!  Episode Resources:  * Rob Young on LinkedIn [https://www.linkedin.com/in/rob-young-19021113/] * LockThreat GRC Website [https://www.linkedin.com/company/lockthreat-grc/]  [https://www.breakingb2b.com/] * MarketingHQ Website [https://www.linkedin.com/company/marketinghqservices/] * Justin Rowe on LinkedIn [https://www.linkedin.com/in/justin-rowe-4043339b] * Impactable Website [https://impactable.com/] Episode Highlights  08:34 Content Creation and Distribution Are Equally Critical Disciplines Rob emphasizes that most companies optimize either content creation or distribution, but never both simultaneously, which is a fatal gap that breaks the entire marketing engine. The truth is distribution requires as much strategic thinking as creation itself, including platform-specific optimization, audience segmentation, and timing logic. Without this organizational clarity, your LinkedIn budget, email sequences, and event presence all underperform because the asset quality or audience targeting (or both) isn't optimized. 15:35 Why Bad Content is Worse Than No Content Rob warns that AI-generated content created at scale doesn't just fail to move the needle - it actively diminishes brand perception, making recovery brutally difficult with risk-averse buyers like CISOs. For CMOs managing cyber or B2B tech portfolios, a single wave of low-quality content forces expensive cleanup efforts and erodes trust that takes months to rebuild. The solution is assigning dedicated ownership to someone who understands your audience deeply enough to create credible, opinion-backed content worth amplifying.  27:16 Become Part of the Industry Conversation to Build Dark Funnel Authority Rob provides a breakthrough insight: speaking only on your own channel limits reach, but getting invited to third-party podcasts, partner panels, and industry events transfers credibility through external validation - and then you become part of other people's conversations organically through dark funnel effects.  This approach works because it leverages existing audiences and pre-established trust, making your individual effort compound through network effects. 30:12 Attribution Requires Both Demand Creation Trust and Demand Capture Proof Rob rejects both extremes - the obsessive UTM-trackers who won't launch anything unmeasurable, and the "vibes-based" marketers who claim revenue flows from invisible brand work without proof - instead proposing a balanced system where you invest in brand only if your demand capture engine (paid channels, lead forms, sales signals) is performing. This pragmatism addresses the core pain point CMOs face: senior leadership demands ROI clarity, but modern marketing doesn't fit neat attribution boxes, so you need a framework that demands accountability without strangling strategy. LinkedIn AdWise is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

Hitting $10M ARR in 26 Months: Lessons from Lemlist to HeyReach

Most SaaS companies try to buy growth before they’ve earned it. HeyReach didn’t. In this episode, Justin talks with Vuk, CMO of HeyReach, about how the company scaled from 15K MRR to $10M ARR in just 26 months and expands upon how none of it was accidental. Before joining HeyReach full-time, Vuk was the first employee at Lemlist, helping scale it past $13M ARR. That experience shaped his philosophy: don’t rush paid channels until your inbound engine works. Build a product people win with. Then amplify it. They break down: * Why “user win rate” is the most important KPI in outreach * Why HeyReach prioritized agencies early * How being the first LinkedIn outreach tool to integrate with Clay unlocked massive distribution * What SaaS founders can learn from Instantly’s feature packaging and positioning * Why thought leadership isn’t optional in B2B SaaS They also discuss the difference between vanity reply rates and revenue-positive reply rates. Here is where they talk about how 1% can be incredible if your ACV supports it. What You’ll Learn * Why inbound and word-of-mouth require specific “cards” to win * How to prioritize features based on ICP actionability * Why agencies were HeyReach’s early growth multiplier * What “user win rate” really means in outreach * How integrations with Clay and Instantly accelerated adoption * When SaaS companies should layer in paid channels * Why thought leadership compounds personally and commercially Episode Resources * Vukasin Vukosavljevic on LinkedIn [https://www.linkedin.com/in/vukasinvukosavljevic/] * HeyReach Website [https://www.heyreach.io] * Lemlist Website [https://www.lemlist.com] * Clay Website [https://www.clay.com/] * Instantly Website [https://instantly.ai/] * Impactable Website [https://impactable.com/] Episode Highlights [00:08:31] From Job Security to “I’ll Work for Free” Vuk shares the story of how he reached out to Lemlist’s founder with the subject along the lines of “I want to be the Kobe Bryant of Lemlist,” offering to work for free. He walks through what he said, why he sent it, and how that message changed the direction of his career. [00:15:00] The Founder Dynamic Inside HeyReach A look at the working relationship between HeyReach’s founders, how responsibilities are split between product and go-to-market, and how decisions are made internally. Vuk explains how that structure influenced speed, execution, and the company’s ability to scale early. [00:21:47] User Win Rate > Everything Vuk breaks down what he means by “user win rate,” how it differs from traditional reply rate metrics, and how HeyReach measures campaign success. He explains what qualifies as a positive reply and why that distinction matters in outbound. [00:25:35] What Instantly’s Got Right A discussion about Instantly’s rapid growth in the outreach space, including how they positioned deliverability, packaged features, and simplified onboarding. Vuk shares what stood out to him as an operator watching the market evolve. [33:20 – 34:08] What’s a “Good” Reply Rate? Vuk explores what makes a reply rate “good,” why the answer depends on context, and how business model and deal size influence expectations. The conversation compares different performance thresholds and how teams should think about benchmarks. [51:47 – 52:25] LinkedIn Changed My Life Why personal branding and company growth are not binary, and how thought leadership compounds both. Vuk talks about how LinkedIn changed his career trajectory, how he approached posting and visibility, and what role content played in HeyReach’s growth. He shares how personal distribution intersected with company momentum. LinkedIn AdWise is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]