And I’m super excited about what we have queued up moving forward, bringing those three things together. The other element or layer on top of all of that, is, we also have a compelling innovation pipeline to see all of these new activities. So overall, I feel like in the last 60 days, we put ourselves in a great position to hit a restart button.
Scott Fortune: I appreciate that color. And then kind of follow-up on that,, obviously, you’re mentioning the DTC side channel and focus on technology there. As you look at it, there’s– your sports partnerships are driving traffic to the website. It is your focus really continuing to drive more traffic to the website or higher priority to really converting those customers, through education or through kind of enhancing the eCommerce site to drive the conversion, or the little bit both just kind of your priorities or your thoughts around traffic and the conversions that need to kind of drive that top line growth here.
Scott Fortune: Yes, so [indiscernible]. They’re both a priority. What I’ll say is, again, let me split those in two. So on the traffic side, I think you saw the numbers for [indiscernible] MLB in third quarter. It drove really nice traffic, lot of impressions, et cetera, et cetera. I think our big opportunity on traffic is: A, getting the right traffic and B generating traffic in a highly scalable way. Meaning that we’re not paying $2 to generate one. The tech stack in the marketing stack, I think, at this moment in time, is inadequate to do that effectively. So that has to be enhanced greatly. Conversion is a big issue. And the numbers don’t lie, we had that increased trafficking. Q3, yet the B2C sales, didn’t grow. Didn’t grow at all, but certainly didn’t grow at a rate commensurate with traffic.
So what does that mean? We’re taking a different mindset approach. It’s not so much. — the ultimate goal is conversion. But to generate conversion, it means that you’ve got to do a really deep dive on the consumer experience, once they’ve come into the ecosystem, or onto the site. Are we providing meaningful content? Do we have a smooth shopping experience? Is there the right tools in place to generate? Second, third, fourth, and on purchases? Do we have a really compelling subscriber experience? All of these things, I think, ultimately, are what drive the conversion because they’ll lead to the word of mouth, that is going to become a very important metric for us moving forward. So both of those needs to be addressed. Both the traffic generation, and let’s call it the monetization, but not monetization as the ultimate goal, but more of an outcome of us providing a really meaningful consumer experience.
Scott Fortune: Thank you. I appreciate the really thoughtful and deep, helpful answer from that standpoint. And then last question is probably geared towards Jessica, and how we should be looking kind of that the OpEx cost side, obviously, lower top line growth, but are you looking to drive that higher, but any further initiatives in place to potentially get more cost efficiencies and reach breakeven? Now, from that standpoint, are there other opportunities outside of the insourcing to which topicals and gummies to optimize your facility or means to right size is the cost measures here, growth is just kind of their sense of kind of the OpEx side of things from your standpoint.
Jessica Saxton: Thanks. Yes, I’m happy to take this. I always get excited to talk about financial questions. But I think we’re all starters, I’m really proud of the work that the team has done on the finance side in the last 10 months. One of the first things I did when I joined and took over the CFO seat was bring FDA to Charlotte’s Web, to support the business. Candidly, it hadn’t existed in some time. And it was pretty obvious that it needed to come back to really help create that robust strategy. And candidly, we’ve accomplished this in record time, we’ve not only built a team, but the processes associated internally, from the likes of forecasting, to bringing zero based budgeting to the organization, which we’re currently doing with 2024.
And I have to give the company credit, they’ve been really responsive and excited about the changes that the finance team is making. And taking it even further, they’re asking us to be involved to help them really understand not only the returns associated with the shareholder value that we can get from it on the revenue side. So I’ll say we have taken a broad look at the spend levels throughout the business. And we’re working hard to really invest in the things to build points that are driving top line growth, which is where we need to do and where we really need to focus. So what I will say is we brought ROI analysis pretty deep in the business as well. Looking at the capital investment on the insourcing projects, et cetera. We’re all in whether we’re growing revenue or whether revenue is declining.
I’m a huge believer that you have to do cost analysis no matter what. So zero based budgeting forecasting aren’t going anywhere. I very much look forward to revenues going up, but we need to bring the financial stability into the daily operations of the business, no matter where we go.
Scott Fortune: I appreciate that. Thanks. I’ll jump back in the queue.
Operator: Thank you. There are no further questions at this time. I’ll turn the call over to Cory Pala for closing remarks. Mr. Pala please go ahead.
Cory Pala: Thanks sir, [indiscernible] and thanks, everyone for joining us on the call today. We appreciate the patience. We will be reporting next following our Q4 New Year End in March. We anticipate issuing a corporate update in early in 2024. Keep you abreast after Bill’s first 100 days with the company. I look forward to communicating with you then. Thank you.
Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines. Thank you.
