Case Study — The Third Space (Delhi)

How Google Ads scaled high‑intent leads and occupancy for a Delhi coworking brand
Prepared by: Prakash Verma, Certified Google Ads Expert

1) Executive Summary

Company: The Third Space — a premium coworking provider in Delhi with private cabins, dedicated desks, day passes, and meeting rooms across multiple hubs (Connaught Place, Nehru Place, Saket, Okhla, Aerocity).
Goal: Drive a steady, scalable flow of sales‑qualified leads (tours booked, cabin enquiries) with profitable Customer Acquisition Cost (CAC) and increase location‑wise occupancy.
Engagement: Paid search & Performance Max, with landing page optimization and CRM‑level measurement.

Headline Results (first 6 months):

• Monthly leads grew 7.1× (from 45 → 320)

• Cost per lead (CPL) fell 48% (₹1,280 → ₹665)

• Lead‑to‑tour rate improved from 24% → 41%

• Tour‑to‑sale rate grew from 22% → 33%

• Average occupancy across sites rose from 58% → 83%

• Blended CAC decreased 37% while MRR (monthly recurring revenue) increased 2.6×

2) Business Context

• Buyer Personas:

  • Startup founders (2–10 seats), price & flexibility sensitive, quick move‑in.

  • SME teams (10–40 seats), private cabins, security & uptime, near‑metro access.

  • Enterprise satellite teams (15–80 seats), custom cabins, SLAs, meeting rooms.

• Key Purchase Triggers: office expansion, lease expiry, new team setup, hybrid shift, proximity to client/metro line.

• Revenue Model: monthly desk/cabin rentals; ancillary revenue via day passes, meeting rooms, virtual office.

3) Initial Challenges

1. High but noisy traffic from generic queries (e.g., “office space”) → poor lead quality.

2. Fragmented tracking (form submits tracked, but calls/WhatsApp/tour bookings not captured).

3. Uneven location performance — CP & Aerocity saturated; Nehru Place & Okhla under‑utilized.

4. LP friction (slow mobile loads, no sticky CTAs, limited social proof).

5. Bid waste on research‑intent searches (jobs, careers, free/co‑working definitions).

4) Objectives & North‑Star Metrics

• Primary: Sales‑qualified leads (SQLs) — tours booked and cabin enquiries with seat count & move‑in date.

• Secondary: Call connects >30s, WhatsApp chats initiated, brochure downloads, pricing page scroll depth.

• North‑Star: Location‑wise occupancy and MRR growth at or below target CAC.

5) Strategy Overview

A. Intent‑led Account Restructure

• Split by location + intent: Brand, High‑Intent Non‑Brand, Competitors, Near‑Me, Meeting Rooms/Day Pass, Virtual Office.

• Start with Exact/Phrase guardrails, migrate to Broad + Smart Bidding after 50–75 conv./campaign.

• Launch PMax for lead gen (assets: video, image, headlines), fed with custom segments (search for coworking & competitors) and CRM feedback loops.

B. Geo & Schedule Discipline

• Target radius & pin drops around key business districts: CP, Nehru Place, Saket, Okhla, Aerocity, NSP.

• Ad schedule: 8am–10pm; bid modifiers favor 10am–7pm.

• Exclude low‑performing postal codes and devices after week‑2 data.

C. Creatives & Offer Hooks

• “Book a Same‑Day Tour”, “Move‑In in 48 Hours”, “Metro‑Connected Private Cabins”, “No Lock‑In Options”.

• Assets: sitelinks (Pricing, Book a Tour, Private Cabins, Meeting Rooms), callouts (24×7, High‑speed Wi‑Fi, Power Backup, Free Meeting Credits), structured snippets (Amenities: Phone booths, Pantry, Parking, Printing).

D. Landing Page Optimization

• Single‑focus LP per location with above‑the‑fold phone & WhatsApp, sticky CTA, pricing bands, live reviews, client logos.

• Instant tour booking widget (Calendly) + “Get custom quote” micro‑form (name, email, phone, seats, move‑in date).

• Speed: <2.5s LCP on 4G; compressed media; lazy‑loaded galleries.

E. Measurement 

• Google Ads with Enhanced Conversions.

• Call tracking (30s+ as primary), WhatsApp click events, Lead Form Asset captures.

6) Campaign Architecture (Month 1 → Month 6)

• Search — Brand (Exact, Phrase): protect & monetize brand intent.

• Search — High‑Intent Non‑Brand: e.g., coworking space near me, private cabin CP, office space Nehru Place.

• Search — Competitors: conquest with compliant ad copy (Comparison/“Why Us”).

• Search — Meeting Rooms/Day Pass: seasonal + weekday spikes.

• PMax — Lead Gen: multi‑asset scale once search learns.

• Call Ads: during business hours for hot prospects.

• RLSA & Remarketing: search audiences + Display/YouTube to revive abandons (7–30 day windows).

Keyword Themes (samples):

• Exact/Phrase: "coworking space connaught place", "private cabin nehru place", "office space near metro cp", "dedicated desk aerocity", "meeting rooms saket", "coworking day pass delhi".

• Negatives: job(s), career, internship, free, pdf, definition, images, furniture, design course, co‑living, hostel, library.

7) Creatives — Sample Ad Copy

RSA Headlines:

• Premium Coworking In Delhi

• Private Cabins From ₹7,500/Seat

• Book A Same‑Day Tour

• Metro‑Connected | CP, Saket, Okhla

• Move‑In Within 48 Hours

• No Long Lock‑Ins

• High‑Speed Wi‑Fi, 24×7 Access

• Free Meeting Credits

Descriptions:

• Tour fully‑furnished cabins & open desks. Flexible plans. Transparent pricing. Limited‑time joining credits.

• Scale easily with enterprise‑grade security & power backup. Book your visit now.

Extensions/Assets: Sitelinks (Pricing, Book a Tour, Private Cabins, Meeting Rooms), Callouts (GST Invoice, Pantry, Parking), Structured Snippets (Amenities), Lead Form Asset (Name, Phone, Seats, Move‑In Month).

8) Landing Page Enhancements (before & after)

• Before: generic multi‑location page, slow mobile load (5.8s LCP), form below the fold, no WhatsApp CTA, outdated photos.

• After: one LP per location with hero price bands, sticky Call/WhatsApp, real photos & 360° tour, trust badges (4.6★ Google rating), instant Book a Tour widget, FAQs on pricing & lock‑in, and schema markup (LocalBusiness).

Impact: +38% LP conversion rate; +62% calls; bounce rate down 27%.

9) Measurement Stack

• GA4: primary conversions (Tour Booked, Cabin Enquiry, 30s+ Calls, WhatsApp Starts).

• Enhanced Conversions: email/phone hashing for attribution uplift.

10) Revenue Impact

• Avg price/seat/month ~ ₹7,500 (mix weighted).

• Avg deal size (first 6 months) ~ 18 seats.

• 6‑month LTV/seat baseline used for value rules → ₹45,000/seat.

• Attribution uplift (+18%) observed post‑Enhanced Conversions.

Timeline Highlights:

• Weeks 1–2: Account rebuild, negatives, LP go‑live, tracking fixed. CPL drops to ~₹950.

• Weeks 3–4: Add Competitor & Near‑Me; launch Call Ads; ad strength to ‘Excellent’. CPL ~₹820.

• Month 2: PMax (Lead Gen) online; OCI begins. SQL rate +22%.

• Month 3: Broad + tCPA tests on top ad groups; LP v2 (WhatsApp sticky). CPL ~₹720; tours +34%.

• Month 4–5: Geo sculpting by pin codes; device & hour modifiers; YouTube remarketing for abandons.

• Month 6: Occupancy crosses 80% at 3 locations; scaled budgets into winners; blended CAC −37% vs baseline.

11) Key Experiments & Learnings

1. Lead Form Asset vs LP Form: Lead form ads produced +29% more leads 

2. Click‑to‑WhatsApp CTA: Increased contact rate by +26% on mobile;

3. Broad Match + Smart Bidding: After 70+ conversions, broad match unlocked incremental high‑intent (e.g., “office near violet line”).

4. Call Ads During Office Hours: Highest tour‑to‑sale; maintain separate budgets and strict schedules.

5. Location‑Specific LPs: Reduced “wrong‑fit” leads; improved sales velocity.

6. Price Transparency: Publishing starting from prices filtered out low‑budget noise, improving SQL%.

12) What Made It Work

• Market‑language alignment: metro‑line & landmark‑based keywords.

• Fast paths to a human: phone + WhatsApp above the fold & in ad assets.

• Measurement rigor: OCI + Enhanced Conversions let algorithms learn who actually buys (seat count & timeline).

• Creative relevance: location‑wise pages, photos, and specific amenities (power backup, parking) reflected in ads.

13) Playbook You Can Reuse

• Start Exact/Phrase + strict negatives, add Broad + Smart Bidding only after stable volume.

• Mirror search structure in landing pages: 1 intent × 1 location × 1 page.

• Make tour booking the hero action; secondary WhatsApp for urgency.

• Import offline outcomes (SQL/Won) and tag with seat count, budget, timeline.

• Scale with PMax once search is efficient; feed it first‑party signals and custom segments.

14) Next Steps (Months 7–12)

• Multi‑touch value rules: prioritize enterprise seat counts with higher values.

• Creative refresh: quarterly video tours per location.

• YouTube In‑Stream with custom segments (competitor seekers).

• B2B partnerships: “Founder Fridays” offer via remarketing list.

15) Sample Assets (ready to use)

Sitelinks: Pricing & Plans • Book a Tour • Private Cabins • Meeting Rooms
Callouts: 24×7 Access • Power Backup • Metro‑Connected • Parking • High‑Speed Wi