Assignment:
Customer Acquisition.
Client:
A tech company streamlining Know Your Customer and Anti Money Laundering processes.
The challenge:
A need for expansion to countries beyond the Baltic state. The client is from Lithuania and already had a good presence in the Baltic States. It wanted to expand and scale to bigger countries like Poland or the UK.
Mission:
Onboard as many customers as possible. Sulma & Sulma’s role was to break through into the corporate structures and schedule meetings. It helped with onboarding and account management until the successful launch in the customer system.
Method:
- Sulma & Sulma first started by sending the client a template for its Ideal Customer Profile, Buyer Persona, and Customer Journey.
- Since it did not have an ICP, Sulma & Sulma had to develop one based on its collected information during the project. It then did prospecting according to the ICP.
- Sulma & Sulma also did email campaigns, warm calls, and Linkedin contacts. It progressed to having meetings with several departments, helping to agree on the contracts, and ensuring that the implementation was done correctly.
Solution:
Sulma & Sulma onboarded for the client one big customer, which gave it a high ROI from the project. This opened doors to several other companies, which the client onboarded itself.
The Journey:
During the project, the following challenges occurred
Obstacle 1: Not accurate info about the Ideal Customer Profile and Buyer Persona.
Problem:
New tech solutions were not so commonly used, so Sulma & Sulma had to work on the Ideal Customer Profile to identify “tech-savvy” people whose positions were not named technologically.
Solution:
Sulma & Sulma targeted a broader audience in the email campaigns, and then it focused on those more active in any tech-related community or events.
Obstacle 2: Lack of information about the Customer Journey and the sales process.
Problem:
The client did not know the length and time of the processes or the triggers. Sulma & Sulma had to work them out.
Solution:
Sulma & Sulma spent more hours on the project to build rapport with the people from the other side. Each time it had to investigate their needs by consulting challenges they have. Thanks to that, it could improve the sales process and create a validated and relevant Customer Journey.
A story of success:
Sulma & Sulma opened a door for breaking barriers and onboarding more customers.
Project Facts:
Team of 2 – Project manager/account manager, Business Development Representative
Project Management – Scrum meetings, 2-week sprints for weekly updates and progress, and Kanban for management.
Project duration – 3 months
