Data Led Growth project | rePurpose Global

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Data Led Growth project | rePurpose Global

Overview:

Our website contact us form page is the main and only landing page for all incoming prospects. In order to ensure that revenue goals of the company are met, it becomes essential to provide the sales team will a high quality of high intent leads. The existing process of sales team manually sending emails with meeting link/meeting slot increases TAT and reduces intent from the prospect. especially for form fills on Friday, the first email doesn't each the prospect by Tuesday. While rePurpose Global is a plastic action platform and sustainability cannot be standardised for everyone, for small sized companies it's possible to automate the TOFU. The intent of the document is to design an experiment to reduce TAT and increase first meetings booked for sales team. we analyse the problem by breaking down the composition of the incoming prospects, understanding what set can help drive change and curate step-by-step experiment to take data led decisions!

Hypothesis:

If we add a meeting scheduling page in the 'contact us website form' then our first meeting scheduling rate for MQL will be impacted because the turn around time will reduce from 1-2 days to 0 days.

Goal:

To achieve our revenue goals for the year, its essential to increase the number of first meetings booked for the sales team. Keeping in mind the average sales cycle is at minimum of 3 months to as high as 12-24 months, the meetings booked in Q1 will reflect results in Q4. Thus, first touchpoint becomes key, at the moment we are struggling with sales team band with and accomplishing reduced turn around time and improved follow up process.

Success Metrics:

Prospects: SAL absolute increase by 20% for Otters

Secondary [Health] Metrics:

Form views:Prospects shouldn't fall.

i.e we don't want an additional step of meeting scheduling link to create more drop offs.

Experiment Design:

A. What are we testing?

Page: https://repurpose.global/contact-us

Adding meeting scheduling link right after they submit their contact us form fill. Based on answer given in company revenue section and revenue tiers, prospects will be redirected to Version A or Version B.

Supporting Evidence:

User Doc

Otters:

small / pre launch companies

0-10M$ ARR

POC: founder/CEO

Funnel Data

[since average sales cycle for an otter is 3-6months, and traffic is low on the website, it makes sense to take a whole quarter's data]

	Q1'24	Next step conversion	Q4'23	Next step conversion
Form views	2466		1616
Form submissions [Prospects]	128	5.19%	115	7.21%	Health/ Secondary metric
Relevant business [MQL] total	53	41%	49	43%
Otter	43		36
Dolphin	6		7
Whale	4		6
First meeting booked [SAL] total	38	72%	28	57%
Otter	29	67%	19	53%	Success Metric
Dolphin	5	83%	4	57%
Whale	4	100%	5	83%

B. Variation Design:

Backend set-up

create an automation on the hubspot form that is embedded on our website, to redirect a consumer on a scheduling page

Variation A: [controlled]

Add information ---> click submit ---> receive an automated email

screen 1:

screen 2:

first email #1

Variation B: [Hubspot meeting scheduling link]

Add information ---> click submit ---> redirect to meeting scheduling page

screen 1:

Screen 2:

C. Audience & Sample size:

Audience Segment

Note: taking learnings from RCA, the Mix & Rate effect, its important to understand how the composition can impact the overall conversion, looking at Q4'23 and Q1'24 data, we can understand how even though the next-step conversion rates have %, the actual mid & large sized prospects have remained somewhat stagnated. thus goes to show that 'Otters' population is what can drive a real change in rate.

	Population %	Conversion rate
Otter	33.6%	72%
Dolphin	4.7%	67%
Whale	3.1%	83%
		29.9%

		Population %	Conversion rate
Q4	Otter	31.3%	57%
	Dolphin	6.1%	53%
	Whale	5.2%	57%
			24.0%

Overall change + 5.88% from Q4 to Q1

Impact of Rate and Mix

	Delta	Q4 conversion	Mix	Delta	Q1 baseline	Rate
Otter	2.3%	57.0%	1.3%	15%	34%	5%
Dolphin	-1.4%	53.0%	-0.7%	14%	5%	1%
Whale	-2.1%	57.0%	-1.2%	26%	3%	1%
	^whale only had a size of 4-5 leads, which makes this -2.1% not a significant factor to consider. if you look at how Q4 there was 100% meeting booked rate VS in Q1 it was 83% but 5 out of 6 propsects had booked a call		-0.6%			6.51%

Mix + Rate = -0.6% +6.51% = +5.88%

Thus, we can conclude that if we increase the rate of meeting booked of otters [most in volume], we can impact the overall Prospect:SAL conversion %, since only with an absolute increase in 2.3% of the otter poplution, it has a 1.3% impact on the overall conversion rate %.

Plus: With leads divided amongst Otter, Dolphins and whale [wrt revenue range]. It only makes sense to run this experiment for a controlled group of otters. Whale [high enterprise] & Dolphin leads don't have a one size fits all approach, additionally we don't have enough data to get results that are statistically significant!

Run a test on hubspot directly, the visitors will be split 50-50

Variation A: Click submit, reaches landing page with thank you

Variation B: Click submit, reaches landing page with meeting scheduling link

Sample Size

3. Duration of the test:

1st-31 August [3 months, minimum to reach even those number of otter prospects on the form, since monthly average is 40 Otter form fills]

Instrumentation:

Hubspot, internal A/B testing option available.

Allocation of users:

make sure in both groups of A/B test its as randomised as possible. both test and controlled group should have no biased groups. Thus, taking organic incoming traffic will help remove any bias!

Post Experiment

Need to get sign off from our CEO to run this experiment, this project will be submitted to my senior leadership for their sign off to implement the same.