Craft is building the source of truth on company data. They use machine learning to aggregate and structure large quantities of available company data for sales, strategy, and investment professionals.
Karthik Suresh is Head of Product and Business Operations. He is bringing his Wall Street business savvy to Silicon Valley to monetize hundreds of thousands of Craft users.
Craft’s business model is simple. We have a free open site where we have several thousand companies profiled, which is very content heavy. So it gets crawled by Google and we get shown in the top five results for several search queries.
We have hundreds of thousands of users coming to the site through Google search. The way we make money is through enterprise solutions. We have, for example, our API, which has more than 300 fields on companies, which we sell to enterprises.
We were having amazing growth in SEO traffic to our site, but we had no way of conveying the value prop or our message for each of the segments. There are people from sales, there are job seekers, investors, all kinds of users on our site. The idea that Mutiny could help us personalize messaging and convey our value prop better to certain users was extremely compelling to us.
It’s just been a few weeks since we started launching experiments using Mutiny. The first thing we did is we launched a sticky footer on our site expressing a value prop for all users, and then personalizing the value prop for certain segments using Mutiny. Overall, we saw about 25% increase in leads coming to our site.
We are now launching personalization of this sticky footer CTA for each use case. We have a different message targeting industrials and manufacturers. We have a different personalized message targeting people from hedge funds and tech and so on. And finally, just a couple of days ago, we launched another experiment where we just added the first name of the known visitors to the CTA. Making it even more personalized.
A 25% increase in overall leads to top of the funnel has been really exciting. That kind of impact on your KPI is very hard to find with other kinds of tactics you can use.
Venture funded companies are spending 30-40 cents a dollar on marketing. Google ads, Facebook ads, all kinds of digital marketing strategies. It's not sustainable. And costs are going up.
For us, we have done a great job at SEO, but that's not enough.The big issue we had is -- how do we convert the people who come through Google to our site into inbound leads?
The most exciting part is the cost to acquire these leads is minimal. It's inbound. It's organic. It's free. If we can figure out how to monetize that with the help of Mutiny, that's amazing.
And if we can scale this operation, then it is immensely profitable for our business. So that's what I'm most excited about.