Working in partnership with a global technology enterprise, Punch! executed an acquisition strategy for a new service offering that generated 60 opportunities and fuelled £3m in pipeline in the first six months.
The client serves over 1.5 million businesses around the world, including 90% of the Fortune 500, that rely on the accuracy and precision delivered by its commerce solutions.
The client was looking to bring a new service line to market – an inbound e-invoicing solution. It needed help launching the product; raising awareness of the new solution and generating sales qualified leads (SQLs). In the first year, it wanted 80 new opportunities.
Because e-invoicing was a completely new line of service, it wasn’t sure of its ideal customer profile, total addressable market, buyer personas or catalysts for change. The in-house team wanted support to complete the strategic planning required to create a go-to-market plan and build a healthy pipeline.
The client turned to Punch! to help it identify the personas and accounts that were most likely to be interested in its offering and were in the right stage of the buying cycle.
Punch! conducted secondary research in order to identify the right buyer persona for the solution and discovered three sustainable streams for account targeting. Those occupying finance transformation roles; sectors with large invoice volumes to headcount ratios; and new hires indicative of projects including wider Enterprise Resource Planning (ERP) initiatives, were all the best fit for outreach activity.
With support from the client’s e-invoicing specialist, Punch! was able to conclude that the target accounts needed to be processing a minimum volume of invoices in comparison to the size of the organisation in order to benefit from the client’s e-invoicing solution. Companies dealing in tangible goods such as manufacturing, pharmaceutical, and food & beverage met this criteria.
Armed with the insight, Punch! leveraged personalised video messaging as one of the initial outreach tactics. This allowed for longer conversations with prospective customers to articulate the client’s value proposition. However, after seeing some great traction and success using LinkedIn, Punch! optimised the programme to focus on communicating with the audience where they were spending the most time. It became apparent that the project-led nature of the target job roles meant they were highly active on LinkedIn. Punch! and the client used this to their advantage and achieved some impressive results.