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As any company in hyper-growth with aggressive goals, Brex was always looking for ways to increase conversion rates. One area they’d identified as having a lower-than-desired conversion rate was website visitors.
They’d already seen the staggering impact of using personalized experiences to drive up conversion rates for returning visitors, but weren’t doing anything specific for first-time visitors, who made up a large percentage of the site traffic. And because they didn’t have data for many of those first-time visitors, they needed a strategy for getting those people to convert without personalized content.
Thomas Maremaa, Brex’s Growth Marketing Manager, knew Brex needed a way to increase conversions, so he looked to segmentation to find opportunities. If he could measure the conversion rate for first-time visitors only and understand what was preventing them from feeling comfortable with signing up, he could adjust the website accordingly.
From there, they could test and measure the incremental conversion lift of different messaging and/or CTA’s to come up with a winning formula for that audience.
Using Mutiny’s conversion platform, Thomas quickly noticed that first-time visitors had a drastically lower conversion rate than visitors who were coming back for the second or third time.
Thomas realized that he needed to adjust the messaging on the website for first-time visitors, and by doing so he could really move the needle on website leads and down-funnel conversions.
After surveying several dozen prospective customers, Thomas realized that the existing “Sign Up” CTA felt like too much of a commitment to people who were finding out about Brex for the first time. He found that by removing the anxiety most people have with signing up for a new credit card, Brex could get potential customers to take action.
Using Mutiny’s no-code visual editor, Thomas replaced the CTA on their homepage to something less intimidating.He changed their CTA language from ‘Sign Up’ to ‘See If You Qualify’ to lower the commitment barrier for visitors at the awareness stage of the funnel (i.e. very top of funnel, brand new to Brex). From there, he ran a holdout test to measure the incremental impact this change had on their target audience where 50% of first-time visitors saw the original “Sign Up” CTA and 50% of first-time visitors saw the new “See If You Qualify” CTA.
This CTA change led to a 30% increase in site-wide leads. After seeing the success of the CTA change on the homepage, the team implemented this for all “awareness stage” visitors to every CTA sitewide including on landing pages for their paid campaigns, where they were investing heavily.
Experiments like these have caught the attention of the entire Brex team, even their CFO. Thomas explains: “At Brex, marketing rolls up to the CFO. It's very numbers-focused and we want ROI. When we have good experiments like this one where we see big lifts, we share them on Slack. Our CFO is the first one to cheer for us.”