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▸ Case study  Verifiable documents · credentials
TRUE

Six products, one question: which one does cold outreach actually sell?

TRUE had six product lines and no data on which one a stranger would say yes to. Ten months later they had a ranked answer - and a product they had nearly deprioritised booking meetings faster than the flagship.

85
meetings booked
3
product lines tested
29
meetings from the one they nearly dropped

01 The challenge

TRUE makes documents you cannot lose and cannot fake - diplomas, certificates, contracts, verifiable by anyone, forever. KTH, EY, TV4 and Skanska are among 200+ issuers, with close to a million documents issued.

The problem was never credibility. It was breadth. Six product lines, several plausible buyers for each, and no way to know which pairing a cold prospect would respond to. Guessing wrong does not cost you a campaign. It costs you a quarter.

So we did not run outbound only to book meetings. We ran it to answer the question.

02 What we built

01

Outbound as the experiment

Every campaign was scoped to be readable on its own: one product, one buyer, one market. No blended results, so every outcome pointed somewhere specific.

02

Nine angles on the flagship

The lead offer alone ran nine distinct first emails. Six were retired on the data. Two carried the campaign.

03

Infrastructure built to be measured

Dedicated sending infrastructure, split so performance could be compared rather than assumed. Bounce rate held at 1.7% across ten months of sending.

04

Nothing dropped on the floor

577 conversations that were neither a clean yes nor a no went into a separate manual follow-up track. Warm contacts from earlier campaigns were later reopened as their own sequence - the highest-replying campaign we ran.

03 Results

85 meetings booked across ten months. The more valuable output was the ranking.

85
meetings booked
3
product lines tested
9
first-email angles tested
44
positive replies · best week
22.2%
reply rate · reactivation
1.7%
bounce rate

One line replied four times harder than anything else and produced almost no meetings. Interest without intent. We closed it and moved the budget. A newer product did the reverse - a quieter inbox, but the best response-to-meeting rate in the account, and 29 meetings in its first eight weeks.

04 How it unfolded

Launch
Three theories ran in parallel from day one rather than in sequence.
The first read
The loudest segment turned out to be the wrong one. Closed inside a month on the data, not on opinion.
Crossing a border
The winning Swedish offer, translated and taken abroad. It replied at the same rate and converted at a tenth. We stopped rather than spend into it.
Reactivation
Earlier positive replies that never got set up were reopened as their own sequence: a 22.2% reply rate, the best of anything run for TRUE.
The unexpected winner
A different product line entirely booked 29 meetings in eight weeks and is still running.
Now
A third product line is live in its home market.
“We have several strong products and were looking for a cost-effective way to reach different markets. Leadmoves helped us test our ideas and book meetings continuously.”
Patrik Slettman
CEO · TRUE
Taking on 2-3 new clients per month

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