The Customer Challenge Solved:
This large IT provider has gone through a funding stream and two major acquisitions. Its ambition is to become a top-three player in its market.
Post investment, they needed to hit the ground running but had a huge wealth of disparate data which needed to be cleansed, verified and segmented so that they could understand the best way to communicate with each customer/prospect based on the contractual relationship the customer already had with one of the primary businesses.
They 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 without disrupting customer confidence or risking increasing customer churn.
“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
Disparate growth and marketing strategies with three businesses operating as ‘bolt-ons’ and a lack of smooth integration of functions, processes, data and customers. This would mean that the group, as a whole, could not benefit from the cumulative value of each primary organisation’s offering. It would not grow at the required rate or operate efficiently enough to grow market share and would disrupt customer confidence and create negative brand impact.
Delivery Summary
Protected brand reputation of each primary business merged, delivered a whole-business marketing and communications plan to avoid risk of customer churn, and developed and validated new go-to-market strategy, prioritising buying personas.
Key Deliverables
- Evidenced 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. In addition to advising the board.
- 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.
- Qualifying of assumed account values, enabling account tiering, accurate forecasting and a streamlined sales approach.
- 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.
- An overarching marcoms 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.
Outcome
Using INSIDE TRACK, Larato was able to provide a clear and more accurate set of customer data 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’s true understanding of their common customers means that their strategic campaigns and correct messaging is delivering the growth in sales activity they need.