Our client is a fintech start-up. Headed by a leading global financial services executive, they have attracted a significant venture capitalist fund. They have a revolutionary technology platform, offering peer-to-peer currency exchange to reduce costs for the end user.
What they needed
Our client’s currency exchange system works by matching and aggregating exchange requirements with a community of peers, providing a substantial reduction on the margin that banks and brokers charge, as well as any additional transfer charges.
Our client wanted to be able to begin rapidly expanding their customer base without increasing headcount. However, as a start-up offering a brand-new concept within an already extremely crowded market, current onboarding had been slow. In addition, our client’s USP of market-leading commission rates mean they have an extremely slim profit margin, and to generate ROI, any marketing efforts needed to be cost effective, well targeted, and with a low marketing cost per acquisition.
They had a small in-house team to follow up qualified opportunities and open accounts, and decided that time was better spent at the front-end of the lead generation process, focusing their time on following up leads directly. They therefore needed external partners to carry out an effective and well-targeted telemarketing campaign as part of an integrated wrap-around marketing strategy that incorporated email marketing, content marketing, and broader efforts at digital marketing to support their front-end team.
What we did
With an extremely slim profit margin, marketing efforts needed to be well targeted – strategically directed at businesses with high currency transaction volumes, whilst avoiding those with in-house treasury departments, or those with enough leverage with their banks to negotiate equivalent fees.
To create an accurate and targeted database that met these requirements, we carried out an initial data profiling and segmentation exercise. We profiled data around company sizes, sectors and location to focus on those likely to have import/export volumes of the right size and then, once calling, carried out further data mining to gather information on current buying patterns – including details such as the reasons each organisation had a requirement to exchange, as well as the volume and frequency of these requirements. Where business met these qualification criteria, we were tasked with converting these into demo opportunities for the internal team.
We worked alongside our client, and their other marketing agencies from launch to provide an integrated marketing strategy. Because their offering was a new and innovative service within a crowded market place, we needed to drive early adoption. Working alongside their marketing agency we helped develop and deliver content that would educate prospects on the platform and provide them with the credibility they needed. Using email marketing and supporting content, we managed the lead pipeline from first call right through to arranging fully-qualified demo opportunities with interested decision makers.
What we achieved
Across the course of 6 months, we created a fully segmented and targeted database from scratch, which was used within our immediate lead generation campaign and across future lead nurturing campaigns. We consistently exceeded monthly appointment targets and from the initial activity alone we arranged demos with hundreds of businesses with a combined transaction value of over £110 million per year. This has led to recurring revenue from the new clients closed.