Question

1. We have two potential designs for the homepage of our website, but we don’t know which one to use. The CEO likes one, and the CRO (Chief Revenue Office) likes another. Half the company likes one, and the other half of the company likes the other. Which one should we use?

2. Let's say you have an Excel spreadsheet with 10,000 leads from a few months back -- long enough that those leads' sales cycle has passed. The file contains information about each lead, like their industry, title, company size, and what they did to become a lead (like downloading an ebook). Also in the file is whether they closed as a customer and how much their order was for. Can you use this information to create a lead score? How would you do it?"

Answer 1

1.

We should choose that homepage design of our website which is liked by the CEO. The CEO designation is higher than that of CRO. Moreover, the CEO has an overall view of the functioning of the company and has a good idea about the different business processes. The CRO on the other hand knows mostly about the finance aspect of the company and has specific knowledge in only one area of the company. He/she does not have an in-depth understanding of how the entire business runs, which the CEO has.

Hence, the judgment of the CEO would be a much better one and we should use that design liked by the CEO. Moreover, the CEO can impose the design of his/her choice by virtue of his/her authority.

2.

Yes, the Excel spreadsheet can be used to create a lead score.

To begin with, I will first categorize the lead into 3 types, viz., cold lead (a prospect who will not become a customer), a warm lead (a prospect who has a hidden need to purchase) and a hot lead (a prospect who shows a strong willingness to purchase). The various actions that are taken by a lead would be used to make this categorization – high value actions will indicate hot leads. We will have a threshold score for each of the 3 categories of leads.

I will then segregate the 3 types of leads by industry, company size and area of business. I will also find out the number of hot leads which have been turned into actual purchases. I will also chronologically arrange the order sizes from highest to lowest.