Customer Story 🏆
Unlocking Growth Levers.
Watch Testimonial:
TruWill, founded by Ryan Pickering, is shaking up the estate planning world by offering legally valid, efficient, and affordable solutions. As the company started gaining traction, Ryan faced the classic founder's dilemma: where to channel resources for maximum impact. Traditional accounting showed past spending, but Ryan needed forward-looking insights to drive growth.
Ryan pinpointed three areas that could influence TruWill's growth:
But which to focus on? That was the question.
Initially, raising prices seemed like a quick win. But Ryan wanted data-driven clarity on which lever would truly move the needle.
Seeking clarity, Ryan turned to Parallel's AI-powered financial planning and analysis tool. With its scenario modeling feature, he could simulate adjustments to CPL, Conversion Rate, and Pricing. The insights were clear:
Doubling prices had minimal impact on profits when compared to reducing CPL/improving conversion.
This data-driven approach highlighted Conversion Rate as the key area to focus on, but combined with a slight increase on CPL had the biggest impact on the business.
Ryan discovered that leads were waiting several days before being contacted, hurting conversions. Using Parallel's insights, he implemented strategies to:
Streamline internal processes.
Prioritize immediate follow-ups with potential customers.
These changes aimed to reduce lead response time and enhance the customer experience. And adjusting the timing of ads had the exact impact on CPL they needed.
The impact was swift and significant:
Conversion Rate: Increased by 50% within three months.
Revenue: Saw a substantial boost due to higher conversions.
Customer Acquisition: The number of new customers grew in line with the improved conversion rate.
Improved marketing returns
Key Takeaways for Founders:
Simplify Your Focus: Tools like Parallel can help distill complex data into clear priorities.
Visualize Outcomes: Parallel’s scenario modeling provides a glimpse into potential results, guiding informed decisions.
Prioritize Actions: Identifying and acting on high-impact areas can lead to significant growth.