Le Map

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Le Map

Presentation

Experiments

Overall

Website signups

Unique website views

Coversion rate

LinkedIn outbound messaging

113 outbound messages sent

30% reply rate

40% conversion rate

Response quotes

Compare to industry benchmarks

Website analytics

Unique viewers

conversion rate

Signups

Industry average

Role average

Tim Notes

Interview Leanrings

We ran 5 types of experiments, the first one being interviews

After running 4 interviews, it became very evident that many businesses really struggle to know who to speak to and listed challenges & pain points that Le Map solves. One of the interviewees even asked if he could start using this hypothetical product there and then.

2 of the interviewees had already spent money on lead gen services and so helped validate that there is already a market and an existing behaviour. But the companies that exsit rely heavily on a service-based business model, making them expensive and often variable in quality of delivery.

We gained enough evidence from the interviewees and discovery research to feel confident that we could raise our experiments to the next level, to give us a higher degree of evidence. We could continue understanding what SMEs are looking for through the use of surveys

Survey

We recognised in the interviews that there were really only a few things we needed to know and that we could ask them in a survey

As you can see, a consistent theme emerged that businesses really struggle to know who to speak to. People really have no idea who to start the conversation with when going after a lead

Website

The objective of setting up a landing page is to see how much people resonate with the product and value proposition. We want to see how many people are willing to give their email address

Also, to understand which customer segment our ideal customer persona would come from

Website Signup Findings

A good B2B saas conversion rate is anywhere from 5-10% so a conversion rate of 7% at a prelaunch phase is an early indicator of a high converting product

LinkedIn Outreach

This strategy proved to be the most lucrative. An automated message was sent using my LinkedIn account to people who worked in business development and sales in SA small-med businesses. The message explained how we at The Delta have taken months to land the corporate clients that we have as clients now, wasting loads of time chasing after the wrong people. We have now built a tool that would have saved ourselves days of time by mapping small-med size businesses to the right people in a corporate

Typical response rates from outbound messages are anywhere between 5-10%. This response rate of 30% is unheard of and has never been achieved by anyone at Delta. Out of the people who responded, more than half of them converted by signing up on the website

What was particularly rewarding about this strategy was the immediate feedback we obtained from people expressing how excited they were to use Le Map, some of which are included on the right of the page

LinkedIn Paid Advertising

We ran LinkedIn ads primarily to get an understanding of what our Cost of Customer Acquisition is likely to be as well as which customer segment is likely to convert (cheapest to acquire).

Benchmark for LinkedIn ads CPC is typically around $5 or R80, this puts us significantly below the industry average

Conversion rate benchmarks are 6% on average. Again, we are more than double the industry average here

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https://www.theb2bhouse.com/linkedin-ad-benchmarks/⁠

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Evidence card

Completely validated the desirability of this venture, every success criteria metric that we set was beaten by a substantial margin

Although we have evidence that we can acquire the information of a lead for clients in the technology sector, we have not tested this at scale across different industries

Stakeholder support and establish partnerships. Le Map will need to establish relationships with corporates for long-term success, where both sides of the market are receiving mutual value

Next Steps

Need to ensure that we can create an automated, algorithmic system that fetches the necessary info that ensures we our clients have the highest chance of converting leads to customers

There is a large ecosystem play here. As Le Map increases it’s ability to deliver lead converting information through data continuously improving algorithms as it comes through. We as Le Map will start to be able to predict the likelihood of a corporate becoming a customer of an SME based on our assessment of the SME and it’s ability to meet the needs of the corporate. We can thus build curated lists for the corporates, so that whenever they

As more businesses utilise Le Map, we will start to build out a map of who has who as a customer. This is powerful data for many reasons. One the things it allows is the ability for us to spin out an introductions product where SME’s can use each other for intro’s to corporates

Go-to-market strategy

I have demonstrated the digital capabiltiy of LinkedIn as a customer acquisition channel for our GTM

The PoC will be run with 2 customer segments: Financial services and IT & Technology companies. This will enable us to focus and build out a repeatable process for a smaller customer segment. They are also the sectors that present the greatest synergy and where the highest IP is contained.

Questions

Popia, how do we ensure

what exactly is the product that we deliver? Could it be the title of the person and suggested outreach strategy, giving them the tools to acquire the contacts themselves

Speak to corporate

Kanya - procuremtn management cost

where sourcing decision is made

Learn from ESD getting it wrong -

Louis

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