Bugcrowd Inc. Customer Transaction Optimization
Alec Wilson, Averie Collins, Jonah Epstein, Julia Massaro
The Client: Bugcrowd
Bugcrowd is an enterprise cloud computing and computer security crowdsourcing company that offers a platform for security testing, web, mobile, source code, and client-side applications.
The Problem to Solve
Bugcrowd would like to have a better understanding of their new conversion rate and the flow of leads in their sales pipeline as a result of their lead-generation efforts.
Engineering a Solution
Tools and Methodologies
The team analyzed Bugcrowd’s client data and spoke with Bugcrowd employees in order to develop a data-driven solution that will improve the internal processes involved in handling customer transactions. Specifically, they wanted to collect more data on the following metrics:
- The amount of time that customers spend in each of Bugcrowd’s designated pipeline stages.
- Average time spent in the pipeline.
- Closed deal metrics
- Annual win rates
One takeaway the group gleaned from this deep dive was that there was an overall sparcity of useful information in the previous data set.
Recommendations and Deliverables
- Shorten deal time by reducing the number of process stages from 8 to 4.
- Begin more consistent data collection and segmentation.