Data Led Growth project | Tractian

Experiment Overview: Increasing "Book a Demo" Sign-Ups by 30%

Context

Our company, a B2B SaaS platform, provides predictive maintenance solutions to maintenance engineers. These engineers rely on our platform to access critical information, such as the remaining time to failure and the mean time between failures, which helps them plan and prioritize maintenance activities effectively. Our goal is to enhance the user experience and encourage more prospects to engage with our platform through the "Book a Demo" feature on our landing page.

Objective

The primary objective of this experiment is to increase the "Book a Demo" sign-ups on our landing page by 30%. By achieving this, we aim to generate more leads and ultimately convert a higher number of prospects into customers.

Problem Statement

Despite the value our platform provides, the current "Book a Demo" sign-up rate is lower than desired. We hypothesize that by optimizing the landing page and the "Book a Demo" feature, we can significantly increase user engagement and sign-ups.

Hypothesis

If we change the CTA text on the landing page, then we will see an increase in "Book a Demo" sign-ups because a more compelling CTA can better capture the attention and interest of visitors.

Key Metrics

Sign-Up Rate: The percentage of visitors who complete the sign-up process.
Click-Through Rate (CTR): The percentage of visitors who click on the CTA

Goal

The goal of this experiment is to increase the "Book a Demo" sign-ups on our landing page by 30%. Achieving this target will enable us to generate more qualified leads and improve our sales pipeline, ultimately driving revenue growth for our company. Primary goals include improving the lead generation mechanism.

Experiment Design: Increasing "Book a Demo" Sign-Ups by 30%

What are we testing:

Testing different variations of text for CTA

Why are we testing:

We have seen a steady number of visitors to the page but the conversions have dropped.

Who are we testing for:

New Visitors

Existing Visitors (Could be Retargeting)

Design Samples

Control - "Schedule a Demo

Test 1: See it in Action

Test 1.png

Test 2: Try it Now

Test 1.png

Test 3: Request a Personalized Demo

Test 2.png

Sample Size:

Control group's expected conversion rate = 6.5%

Minimum Detectable Effect = 30%

Statistical Significance = 95%

Control: 2100

Test 1: 2100

Test 2: 2100

Test 3: 2100

Test duration: 30 days

Test "C" converted 9.74% better than Test "B"; 95.05% certain that the changes in Test "C" will improve the conversion rate.

Release Decision

We will scale the experiment by changing the CTA to "Try it Now"

Scaling Strategy

Confirm the findings and ensure all data is correctly analyzed and documented.
Communicate results and scaling plans to all relevant stakeholders.

Stakeholder Management

Communicate with the CMO and Marketing Team before and after the experiment.

Other Experimentations to be done next

- Reduce the number of fields in the form.
- Test different forms of progressive disclosure, where more information is requested after initial interest is shown.