Assignment:
Market Expansion
Client:
A proptech startup that revolutionizes how commercial leasing is done.
The challenge:
Help extend the commercial leasing innovation into Poland, which is still untapped. The client introduced digital showcasing, fit-outs, 3D virtual staging, etc., which will be the main game-changer in the industry, especially in increasing efficiency.
Mission:
The primary mission was to introduce the innovation into Poland.
Method:
- Sulma & Sulma first started by sending the client a template for its Ideal Customer Profile, Buyer Persona, and Customer Journey. This helped identify gaps the client has and helped develop a strategy to enter a new market. This also enabled Sulma & Sulma to know how to align its marketing materials according to the market’s needs.
- Next, it used both inbound and outbound strategies to get low-hanging fruits.
- It embarked on heavy lifting for a lean inbound and outbound marketing method. It is where Sulma & Sulma first focuses on boosters, the prospects it already has in its database that are a match for them.
- Then it started an AI email campaign to get hand-raisers and warm leads. Sulma & Sulma did follow-ups with the leads and nurturing if there was a need to ensure it was on the same page.
- Sulma & Sulma also contacted the media to create partnerships and build brand awareness in the initial stages.
- In outbound marketing activities, it applied an inverted triangle strategy. Sulma & Sulma focuses first on the leads at the end of the sales funnel to nurture them and convert them by email campaigns or newsletters.
- Sulma & Sulma used warm calling to contact pioneers in the real estate industry in Poland.
Solution:
Sulma & Sulma helped its client to onboard customers in Poland.
Journey:
During the project, there were the following challenges:
Obstacle 1: The company aims for 20-30M EUR/USD funding
Problem:
The company aims for 20-30M EUR/USD funding, so they need to show traction and scalability. Their growth cannot be linear but exponential; they need the money to gather more and more market share (open a branch in the USA).
Their goal for 2022 is to open new countries outside their home market; they targeted the biggest markets in their industry like the UK, Poland, and others, e.g., Hungary.
The main challenge is focusing on MRR only. To increase MRR, the client needs to onboard new customers ASAP. The corporations that are the primary target make it challenging to break through the corporate structure and pick up “low hanging fruits.”
Solution:
- The Ideal customer profile helped Sulma & Sulma to do prospecting fast and right. Through its database, it was able to get referrals from its network, which helped it get feedback fast. It scheduled the first presentations before the email campaigns or starting the project.
- Sulma & Sulma’s methodology, marketing expertise, and tech helped it quickly gather interest in the market. Its ad-hoc copywriting skills helped to drive the message home with minimum effort. This enabled the client a lot in terms of brand awareness, solution understanding, and accessibility (the prospects are closer to its customers, and it’s easier to prepare quotas or schedule presentations).
- After collecting all “low hanging fruits,” many warm leads need nurturing to make them interested. Through Sulma & Sulma’s experience, it explained the pros and cons of the tech with examples the corporations can identify with.
Its methodology equips it with skill and knowledge that acts as a trigger to help move its prospects along the customer journey. Its sales process relies on its methods.
It helps startups avoid situations where they get stuck in a particular position with a prospect, as it can apply the triggers to move them further. - During the presentations, it learned the best practices, and it knows how to engage the prospect more, e.g., through content and give feedback to its clients about their presenting skills so they can improve.
- It monitors a variety of KPIs during a project to quickly identify bottlenecks or solutions.
Obstacle 2: Perform a complete sales cycle in Poland or CEE to help their sales team to move to the USA and start expansion there.
Problem:
Since they plan to move to the US for two years, they needed it to do an entire sales cycle, including presentations and quotations.
Solution:
- Sulma & Sulma will automate their presentation, maybe to do webinar-like presentations.
- It will help them focus on the new markets when exploring customers here.
- It will bring a lot of marketing, sales, and account management input.
A story of success
- Sulma & Sulma helped the client become a partner in Poland and CEE, with the second-largest real estate developer in terms of market share in real estate in Poland.
- The client’s innovation is gaining interest at a fast pace through us.
- Commercial real estate companies can maximize their ROI through digital showcasing and fit-outs.
- Landlords and agents can manage their space better.
- Commercial leasing is more efficient.
Project Facts
Team of 4 – Project manager/account manager, Business Development Representative, Marketing Manager, Front-end developer
Project Management – Scrum for weekly updates and progress and Kanban for management
Project duration – Jan 2022 – to present
