# Logistics, Freight: Mudflap case study: 150% higher conversion on a validated ICP

Mudflap's ICP rested on untested assumptions. Phi used outbound to find the true serviceable market, then moved the spend there.

Mudflap Logistics · Freight

## Outcome: Mudflap results

The right segment, found with data.

- 150% Increase in conversion rates after targeting the validated ICP
- 40% Reduction in CAC
- 3x Market share growth in mid-sized fleets
- 50-200 Ideal fleet size identified
- 100% Clear product roadmap, built on validated customer needs

## Before Phi: The challenge at Mudflap

An ICP nobody had tested.

1. **Unclear ICP**: The ideal customer was assumed, not validated by market data.
2. **Wasted spend**: Money went to poor-fit segments, with high CAC and low conversion.
3. **Missed segments**: High-value segments were overlooked on preconceived ideas.

## The work: What Phi did for Mudflap

Test the market, then target it.

1. **ICP refinement**: Market analysis and customer interviews to challenge assumptions.
2. **Targeted outbound**: Separate campaigns per segment, each with its own value proposition.
3. **Rapid experiments**: A system to test segment hypotheses quickly.
4. **Segment messaging**: Messaging written for each segment.

## Findings: What the tests showed

Mid-market, not enterprise.

- **Segmentation**: Testable segments by fleet size, geography and operating model.
- **Measurement**: Response, conversion and CAC tracked per segment.
- **The pivot**: Fleets of 50-200 trucks converted better, at lower CAC, than enterprise.

## Testimonial: Mudflap, in their words

> “Phi's data-driven approach to GTM completely transformed our understanding of our market. They helped us find our true product-market fit, which has been the foundation of our growth ever since.”

Mudflap

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## Talk to us: The same system, pointed at your number.

A 30-minute call on your market, your GTM and what is not working. We will tell you if Phi is the right fit.

[Talk to Phi](https://phi.consulting/meet)

Markdown copy of https://phi.consulting/case-studies/mudflap-gtm