The Customer Challenge Solved
This was a confidential project that Larato was engaged in pre-investment and post investment, working with both the management team and one of the ‘Big Four’ financial consultancy firms.
Larato supported this large IT provider through a funding stream and two major acquisitions, helping to secure the investment it needed based on us evidencing the potential addressable market and its ability to take market share.
Larato was pivotal in demonstrating that the addressable market was significantly larger than generally believed, providing confidence in the opportunity available to the investors.
Post investment, the business needed to hit the ground running to achieve their goal of being a top-three player but had a huge wealth of data that had been bolted together which needed to be cleansed, verified and segmented. This was so that they could understand the best way to communicate with each customer/prospect based on the contractual relationship they already had with one of the primary businesses. They also needed a business development strategy which could successfully link all three propositions and brands, to meet investor expectations of cross-sell and up-sell revenue growth.
“Larato is the only organisation in the UK with accurate and detailed intelligence about the technology industry, how it works, and how to secure growth.”CHIEF INVESTMENT OFFICER
Threat eliminated by Larato
Misunderstanding of the size of the addressable market could have compromised investment. Disparate growth strategies with three businesses operating in silos with a lack of smooth integration of functions, processes, data and customers so benefit from the cumulative value of each primary organisation’s offering. Not growing at the required rate or operating efficiently enough to grow market share.
Delivered support to achieve the correct level of investment required, in addition to working with the management team post-investment and acquisition to develop and execute the overarching business strategy and go-to-market plan using our business development specialists and data platform.
- Evidence of the addressable market size and structure
- Acting as advisor to the board on group data and group business strategy as well as cross-group marketing.
- Leading hands-on with the work required to ensure that the new integrated company achieve what is required to deliver its targets.
- Using INSIDE TRACK to cleanse each data set, filling information gaps and removing inaccuracies for more sales efficiency.
- Data segmentation so that the customer could establish how every entry in its database was linked to one or more of the three merged organisations and to what extent each formed a potential prospect. This was to ensure seamless integration between the three businesses and continued professional sales and marketing engagement with their customer/prospect database.
- Qualifying of assumed account values, enabling account tiering, accurate forecasting and a streamlined sales approach.
- An overarching strategy is being devised to identify the right marketing and comms path for the three businesses to adapt to, in order to grow the new brand and gain market traction.
- The right proposition and go-to-market strategy are being defined, developed and tested.
Using INSIDE TRACK, Larato was able to provide a clear and more accurate set of customer data that was then able to be used to embark on campaigns—the first test campaign produced a response rate of 53% compared to an industry standard of 0.5%. Enabling the client to truly understand their common customers, designing strategic campaigns and applying the correct messaging to their targets is delivering the growth in sales activity they need.