The company develops software for the SMB sector, specifically focusing on marketing applications. As a young enterprise eager to break into the market with its innovative solution, it primarily serves clients in the financial sector. The application is designed to enhance and streamline the sales process of financial services.
Current state and needs:
This small, relatively unknown brand is striving to reach end customers with its application. Key challenges include a lack of brand recognition, high security expectations, and difficulties in acquiring new customers.
Main goals:
The company aims to attract new end customers, increase brand and application recognition, and establish a solid market presence.
Major challenges:
As an Independent Software Vendor (ISV), the company initially targeted large sales and financial organizations. However, due to its small size, it faced challenges in providing adequate Service Level Agreements (SLA).
What’s in favor:
The application’s modular design allows for significant flexibility and scalability. The ISV utilizes the latest technologies, ensuring stable and long-term development of the application.
Implemented strategies:
- Conducted product analysis and identified potential end customers.
- Assessed the company’s capacity to handle projects considering its size and resources.
- Analyzed potential territories to create a list of prospective clients.
- Established methodologies for reaching end customers.
- Identified high-potential (VIP) end customers.
- Trained the sales department in sales strategies and techniques.
- Prepared supporting materials for the sales team.
Results and Achievements:
Within one quarter, the company successfully developed a healthy sales pipeline and established the foundations of a sales funnel. After another quarter, the first customer testimonials were received, which were utilized for further sales development.
Adequate analysis of capabilities and market territories enabled the company to enter the market effectively. Smaller clients enthusiastically began using the application and provided the necessary references for larger projects. A healthy sales pipeline allows for revenue prediction and facilitates the planning of the company’s future growth.
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