Expo LeadTrack

Product Overview

Expo LeadTrack was a mobile app created for sales representatives of a contract manufacturer of dietary supplements and skincare products to use at exhibitions. It is used to collect potential leads' information, demonstrate products and services, and follow up with leads in a timely manner. The app provides real-time data on lead interactions and sales performance to help sales reps prioritize their follow-up efforts, while sales managers can monitor their team's performance and provide coaching and support. Marketing teams can also use the app to measure the ROI of exhibitions and events and optimize their marketing strategies

Motivation

Our motivation for building this product stems from our analysis, which revealed a significant challenge in lead follow-up after exhibitions. Our findings indicate that a staggering 50% of leads tend to fall through the cracks if they are not followed up within a week. This occurs because, by that time, potential customers often struggle to recall who you are as a supplier and what you offer, as they have interacted with numerous suppliers during the exhibition.

Value Proposition

Increase Lead Conversion Rate

Accurate ROI Calculation

Customer Segmentation

Sales Representative

Sales Manager

Marketing Manager

Persona 1 - Sales Representative

Dylan

Sales Representative

Pain Points

We grapple with the difficulty of managing and organizing customer information, which limits our visibility into customer interactions and the sales pipeline. This hampers our ability to gain comprehensive insights, make informed decisions, and effectively nurture customer relationships for successful sales growth.
Time-consuming note-taking deprives us of valuable opportunities to engage with more leads and maximize our productivity.

Current Solutions

Uses spreadsheets and emails to track customer details, along with a combination of messaging and phone calls for communication.
Jots down notes manually and then manually enters them into the CRM system.

Expected Solutions

Expects an intuitive customer management tool that streamlines data entry and administrative tasks.
Looks for integration with communication channels and automation features to improve efficiency.
Seeks a centralized platform that provides a holistic view of customer interactions, tasks, and sales pipeline.

Persona 2 - Sales Manager

Lisa

Sales Manager

Pain Points

When it comes to effectively managing and tracking the performance of our sales reps, we find ourselves grappling in the dark. It's tough to get a clear view of their effectiveness and identify areas where they might be facing hurdles, making it challenging to take proactive action and keep the sales process running smoothly.
Pinpointing bottlenecks in the sales process feels like searching for a needle in a haystack. We need better insights to uncover where things are getting stuck and optimize our strategies to drive efficiency and success.

Current Solutions

Relies on manual tracking and reporting through spreadsheets.
Uses email and meetings to communicate with sales reps.
Relies on individual updates from sales reps for performance tracking.

Expected Solutions

Expects a sales analytics and reporting tool to gain insights into team performance and identify areas for improvement.
Seeks a system with sales pipeline visibility and forecasting capabilities.
Expects a communication platform that enables easy collaboration and provides real-time updates on sales activities.

Persona 3 - Marketing Manager

Sarah

Marketing Manager

Pain Points

It's frustrating when we can't accurately track and analyze how visitors interact and what interests them in real-time. This makes it tough to adjust our strategies on the spot and create follow-up plans that actually work to convert leads.
And let's talk about the numbers – without precise data and a clear understanding of visitor behaviors, it's like we're shooting in the dark when it comes to evaluating our strategy and calculating the event's ROI. We need solid insights to know if we're hitting the mark or just spinning our wheels.

Current Solutions

Uses basic data collection methods, such as forms for visitors to fill out or manual entry of visitor information, which can be time-consuming and prone to errors.
Relies on sales team to proactively report whether clients who place orders acquired from the expo, which can be subjective and unreliable.

Expected Solutions

Expects a real-time analytics platform that tracks visitor behaviors and interests during the event.
Implementing a tool that includes source tagging to track client acquisition sources accurately and enable accurate ROI calculation.

User Journey Roadmap

User Story

Sales Reps Story 1

As a sales representative, I want to efficiently record lead information, so that the assigned salesperson can effectively follow up and increase customer conversion rates.

Sales Reps Story 2

As an sales representative, I want to effectively share marketing materials with clients at exhibition, so that I can assist clients in making informed decisions and increase future business opportunities.

Sales Reps Story 3

As a sales representative, I want to easily coordinate with labs and factories for sample requests and visits, so that I can provide a seamless experience and build long-term relationships with potential customers.

Sales Reps Story 4

As a sales representative, I want to track and manage exhibition leads efficiently, so that I can promptly follow up with potential customers, ensuring no missed opportunities.

Sales Manager Story 1

As a sales manager, I want an effective lead tracking mechanism, so that I can evaluate sales performance, optimize our strategy, and secure resources for future growth.

Sales Manager Story 2

As a sales manager, I want an effective lead assignment mechanism, so that I can allocate leads to sales reps efficiently, considering their skills, experience, and workload.

Marketing Manager Story 1

As a marketing manager, I want to measure the ROI of our exhibition, so that I can optimize our financial expenditure and improve our customer conversion rate.

Marketing Manager Story 2

As a marketing team member, I want to upload and maintain exhibition materials on our app, so that our sales team can easily access and present them, enhancing engagement with potential clients.

Functionality

Marketing Material Upload and Event Tagging

Event Tagging System
Marketing Material Upload Interface
Event Analytics Integration

Lead Information Capture

Lead Information Capture Form
Business Card Scanning
Voice-to-text Input

Lead Assignment

Drag-and-Drop Assignment Interface
Lead Reassignment
Criteria-Based Auto Delegation
Assignment Notification for Sales Reps
Comprehensive Lead Interaction Record

Follow-up Tools

Follow-up Notifications
Email Template
Smart Calendar Integration

Instant Action Suite

Factory Visit Request
Sample Request
Deep Dive Product Session Request

Product & Service Demonstration

Digital Brochure
Interactive Demos
Sharing Capabilities

Live Performance Insight

Analytics Dashboard
Real-time Lead Journey Monitor

Instant Pricing Estimation Tool

Ingredient Cost Database
Dynamic Formulation Cost Estimation
Automated Quote Generation
Quote History and Tracking

Usability

• The app shall be easy to navigate and require minimal training for users to understand its functionality and use.

• Sales representatives and marketing team members should be able to easily search and retrieve lead information, marketing materials, and event data within the application.

• The dashboard and analytics should present data in a visually appealing and understandable manner.

Reliability

• The application should consistently and accurately capture, store, and retrieve lead information, marketing materials, and event data without any data loss or corruption.

• Follow-up reminders and notifications should be reliable and sent in a timely manner to both sales representatives and sales managers.

• The product demonstration feature should work seamlessly, without crashes, freezes, or data inconsistencies.

• The quotation feature should accurately calculate prices based on client-specific rules and maintain a reliable quotation history.

• The app shall have an uptime of at least 99.9%.

• The app shall have a minimum time to fix any issues of 24 hours.

• The app shall be able to recover all data in case of a system failure.

Performance

• The application should have fast response times (low latency) for lead information capture, product demonstration, and data retrieval.

• The app should handle high lead volumes during exhibitions and support concurrent usage by multiple sales representatives without performance degradation.

• The application should scale effectively to accommodate the growing number of leads, users, and marketing materials.

Supportability

• The application should be well-documented, providing comprehensive user guides and FAQs.

• The system shall be easily configurable for different exhibitions.

• The app shall be compatible with the latest versions of iOS operating systems.

• The app shall be easily upgraded to new versions without losing any data.

• The app shall be able to be installed and updated remotely.

• The app shall have a user manual accessible from the app itself.

• The app shall have technical support available to troubleshoot any issues that arise during the exhibition period.

• Regular software updates and bug fixes should be delivered in a timely manner.

Potential Risks & Mitigation Plans

Business Risks

Poor User Adoption Rate

Mitigation Plan: Provide comprehensive training to employees on app usage and benefits, and incentivize early adoption through rewards and recognition programs.

Lack of Executive Support to Secure Necessary Resources

Mitigation Plan: Clearly communicate the benefits and potential ROI of the app to executive stakeholders, and ensure that the app aligns with the company's overall goals and strategies.

Resistance to Change

Mitigation Plan: Work closely with users to identify pain points and address concerns, and provide regular updates on the benefits and successes of the app to build support.

Technical Risks

Integration challenges with existing systems

Mitigation Plan: Conduct thorough testing and quality assurance to ensure that the app integrates seamlessly with existing systems, and provide documentation and support to troubleshoot integration issues.

Data security breaches

Mitigation Plan: Implement strict security protocols to safeguard sensitive data, including encryption, firewalls, and regular monitoring, and ensure that all employees are trained on security best practices.

Technical glitches or downtime

Mitigation Plan: Conduct regular maintenance and testing to prevent technical issues, and have a dedicated team ready to quickly respond and resolve any issues that arise.

Performance and Usability Challenges in Edge Locations

Mitigation Plan:Leverage edge computing services and Content Delivery Networks (CDNs) to optimize performance in edge locations, incorporate offline functionality and localization, provide comprehensive user support and training, regularly gather user feedback, and form local partnerships to enhance the technical infrastructure and user experience.

Feature Prioritization

Product Roadmap

System Design

Product Markup

Product Metrics

North Star

Lead Conversion Rate

The lead conversion rate is considered as the North Star Metric for this product because it aligns directly with our primary motivation for building the product - to address the challenge of following up on leads post-exhibitions and to prevent them from falling through the cracks. By focusing on improving the lead conversion rate, we are directly addressing the core issue the product was designed to solve, which is to improve the follow-up process and thus enhance the rate of converting potential customers into actual ones. This aligns perfectly with the product's main goal and value proposition.

Accurately attributing changes in lead conversion rates solely to the product can be challenging due to various external factors that can influence conversions. To validate whether the increased conversion rate is truly caused by the adoption of Expo LeadTrack, incorporating A/B testing after the product launch becomes crucial. However, it is essential to consider the potential impact on lead follow-up and the delay in experiencing the benefits of Expo LeadTrack.

In the context of preventing leads from falling through the cracks and increasing conversion rates, it is paramount to prioritize the timely adoption and integration of Expo LeadTrack into the sales team's workflow. Conducting A/B testing after the product launch can potentially disrupt lead follow-up if not managed carefully.

Moreover, considering the long lead time in the dietary supplement and skincare product ODM business, traditional A/B testing may not be feasible due to the extended duration required. To assess the impact of Expo LeadTrack on lead conversion rates within the constraints of our business model, alternative approaches can be employed. Here are some options we used: Historical Comparison, Segmented Analysis, User Feedback, and Surveys.

By employing these alternative approaches and continuously monitoring lead conversion rates, we can gain a comprehensive understanding of the impact of Expo LeadTrack on our desired metric. While it may not provide the same level of statistical certainty as traditional A/B testing, this approach allows us to make informed decisions based on the available data within the unique context of the ODM business model.

Product Launch Roadmap