Case Study / HyperVerge

How Fixing Audience Targeting Helped HyperVerge See 327% MQL Growth

Same budget, 4x the MQLs. Here's how we fixed HyperVerge's demand generation by solving the targeting problem first.

Client

HyperVerge

Industry

Identity Verification / Fintech SaaS 

Services Delivered

Performance Marketing, Google Ads Optimization, Landing Page CRO 

Funding Stage

Seed | $1M raised 

Headquarters

Bangalore, India

327%

MQL growth (11 to 47/month)

400%

Conversion rate increase

$12K

$70K

MRR growth

$2M

Pipeline influenced

Who Is HyperVerge

HyperVerge builds identity verification and Know Your Customer (KYC) technology for businesses that need to onboard customers securely and at scale. Their platform is used across financial services, lending, insurance, and any industry where verifying someone's identity is a compliance or trust requirement.

The product was technically strong and built for multiple industries. But that flexibility became part of the challenge.

What Wasn't Working

High Ad Spend With Poor Results

HyperVerge was putting money into Google Ads and getting traffic. What they weren't getting were qualified leads.

Where things stood:

  • 11 MQLs per month despite active paid campaigns
  • High ad spend with poor lead flow and inflated vanity metrics
  • Conversion rates were low across the board
  • The industry-agnostic positioning made targeting broad and unfocused
  • No clear picture of which audiences, campaigns, or keywords were actually working

The core issue wasn't the budget or even the ads themselves. It was that no one had gone back to the data to figure out who was actually buying.

What needed fixing:

  • Identify which audience segments were converting to closed-won deals
  • Rebuild targeting and messaging around that segment
  • Cut wasted spending and reallocate to what was working

What We Did

Started With the Data, Then Rebuilt Everything Around It

The first move wasn't to touch the campaigns. It was to understand the customer.

  1. Refined Positioning and Messaging 

We pulled closed-won and closed-lost data and looked for patterns. What came back was clear: 60-70% of successful deals were coming from financial services. HyperVerge had been marketing to everyone when their best customers were concentrated in one sector. 

We shifted messaging entirely to financial services, redesigned landing pages for that audience specifically, and simplified the page structure to reduce friction.

  1. Campaign Restructure and Budget Reallocation 

With a clearer picture of what was working, we audited every active campaign. KYC and identity verification campaigns were outperforming everything else, so the budget was moved there from underperforming campaigns. Tier-1 cities got 60% of the budget based on where conversions were actually happening. 

Smart Bidding was switched on to automate bid adjustments in real time. Over 50 non-converting keywords like "free KYC software", were excluded to stop wasting spend on searches that were never going to convert.

  1. Process and Cadence Improvements 

Beyond the one-time fixes, we set up a system to keep improving. Monthly data analysis sessions gave the team a regular rhythm to review performance and make adjustments. 

Ad scheduling was optimized based on when conversions actually happened. Weekly search term audits caught new irrelevant queries before they ate into the budget.

What Changed in 3 Months

11 MQLs to 47. Same Budget.
Metric
Before
After

Monthly MQLs

11

47

Conversion rate

Baseline

+400%

MRR

$12,000

$70,000

Pipeline influenced

Baseline

$2M

ROAS

Underperforming

Significant improvement

The short version:
  • MQLs grew 327%, from 11 to 47 per month, with no increase in ad spend
  • Conversion rates improved 400% after repositioning and landing page changes
  • MRR went from $12K to $70K as better-fit leads moved through the pipeline
  • $2M in pipeline influenced within the engagement period
  • Budget was the same throughout. The difference was where it went and who it reached

Services Delivered

  • Performance Marketing
  • Google Ads Audit and Restructure
  • Audience and Positioning Analysis
  • Landing Page CRO
  • Smart Bidding Implementation
  • Search Term and Keyword Management

By the Numbers

  • 11 → 47 MQLs per month (327% growth)
  • 400% increase in conversion rates
  • $12K → $70K MRR
  • $2M pipeline influenced
  • $4,000/month Google Ads budget, unchanged throughout
  • 50+ non-converting keywords excluded
  • 60% budget reallocated to Tier-1 cities
  • Results achieved within 3-4 months

Key Takeaways

Spending more wasn't the answer. HyperVerge had enough budget. It was going to the wrong places and speaking to the wrong people. Once the data pointed clearly to financial services as the real ICP, everything else followed: the messaging, the landing pages, the keyword strategy, the bid focus. The 4x MQL growth came from getting specific, not from scaling up spend.

"RevvGrowth's ad strategy helped us scale our MQLs from 11 to 47 with the same budgets. They helped us realise the real problem by digging into the data from the last few months. Happy we could utilise our budget to the best capacity."

Sairanjan Dasgupta

Growth Marketer

HyperVerge

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