BELAY wellput.
Performance Marketing · Case Study

Delivering business leads
at scale and at cost.

How BELAY replaced expensive, high-risk newsletter buys with a managed program
that turns premium and niche publications into leads at a predictable, at-goal cost.

4k+
leads generated
20k+
net clicks delivered
44%
newsletter viability rate*
1 in 5
clicks convert to a lead
* A viable newsletter can hit the advertiser’s performance goal at optimized CPC rates we expect they’ll accept.
The client

BELAY provides U.S.-based virtual assistants, accounting professionals, and marketing assistants to business owners, founders, and executives.

Their goal was straightforward: reach business owners, founders, executives, and operators through newsletters focused on entrepreneurship, leadership, productivity, finance, and business growth, and turn them into leads at a predictable cost. BELAY has run with Wellput since August 2024, an ongoing partnership approaching two years, managed to a defined cost-per-lead goal.

The challenge

The old way of buying newsletter sponsorships was broken in two distinct ways.

Premium newsletters
Morning Brew, The Daily Upside, MarTech

Sold on a flat-fee model, often thousands or tens of thousands per send. Budget is committed upfront with no performance guarantee. Even with the right audience on paper, there was no way to know whether the creative, offer, or match would convert until the spend was already out the door.

Risky and expensive.
Niche newsletters
Smaller, precisely-targeted titles

Exactly the business owners BELAY wants, but each placement takes the same setup time as a premium one. Outreach, insertion orders, creative, scheduling, and tracking are all the same work, yet each title delivers a fraction of the clicks. Fixed cost of effort, shrinking return.

High touch, low reward.
The Wellput process

Premium and niche reach, without sourcing a single deal by hand.

01
Access

One point of entry to both premium and targeted niche newsletters that reach BELAY's business audience.

02
Test

Structured testing surfaces viable newsletters while managing risk.

03
Optimize

Budget shifts to the viable newsletters at optimized CPC prices tuned to hit BELAY's cost-per-lead goal.

Full-funnel optimization

Find what works before the conversions arrive.

Selling a Virtual Assistant service to business owners is a higher-consideration purchase with a longer sales funnel, and most leads don’t convert on the first click. Waiting on final sales or revenue to judge a newsletter means burning spend for weeks before the signal is clear, and cutting promising niche titles before they’ve had a fair test. Wellput optimizes on the whole funnel instead: landing-page engagement, second pageviews, form submissions, qualified leads, and other downstream events whenever they’re available.

Traditional model
Bottom-funnel signals only

Needs significant click volume to judge viability on sales or revenue alone.

Niche newsletters get cut too early.
Slower path to identifying the winners.
Wellput model
Full-funnel signals

Early engagement signals like second pageviews identify winners before conversions land.

Identify niche newsletter winners earlier.
Cut the losers faster. Test more, waste less.
3 ×
more efficient at finding what works — so budget lands on winners sooner and stays on BELAY’s cost-per-lead goal.
The results

Scale, at a glance.

Program lifetime · August 2024 to date
744
relevant newsletters targeted
174
newsletters reached
76
viable newsletters identified
44%
viability rate*
20k+
net clicks delivered
4k+
leads generated
Peak performance

Fifteen straight weeks at or under BELAY’s cost-per-lead goal.

~15% UNDER GOAL
Average optimized cost per lead across the window
~40% UNDER GOAL
The best single week
56 70
Viable newsletter pool grew while cost stayed on target
98–100%
Tracking coverage near-complete measurement
I’m super happy with the form submissions. Wellput is one of our best performers.
Mallory Drake
BELAY
wellput.
Featured performance window: February–May 2026.