SWOT and Pivot to Profits

The Challenge

This B2B Tech Company we were working with had a unique offering in the market, were well established and had been acquired by one of the big players (so plenty of budget to work with).

However, their revenue month-on-month was consistently flat, some months dropping below the year-on-year benchmark.

They should have been GROWING exponentially.

What Did We Do

We got the team together.

1 day. 4 whiteboards. 

We focused on completing a comprehensive SWOT on the business.

This was a challenge in itself. Keeping this small team focused on SWOT-ing. They had been ingrained in the business for a long time and conversations quickly got off track and we had to direct them back to the task at hand.

We did it. 4 full whiteboards of the business’ Strengths, Weakness, Opportunities and Threats.

My task was to then take that information away and create a business strategy for growth.

What Did We Find

There were 2 key takeaways:

• The business was focusing on the wrong vertical.

  • Their current target market needed ALOT of day-to-day individual support.

  • This market were individual businesses.

  • This market had low & decreasing budgets to allocate to this tech solution.

• The team were on the hamster wheel.

  • High touch/low budget clients were taking up most of their time.

  • There was less time to focus on growing accounts.

  • They had time intensive processes that needed efficiencies.

What Did We Change

• We pivoted the business to a new target market: lower touch – higher revenue.

  • The new market were tech savvy = less time the needed to troubleshoot and train them.

  • They were B2B businesses = 1 contact had multiple clients to sell our product into.

• We created efficiencies for the day-to-day processes.

  • Less touch clients left more time for the team to initially focus on the new streamlined processes.

  • Automated sign-up which allowed the sales team to spend less time onboarding new clients that were already converted at the bottom of the funnel and spend more time chasing new/bigger business.

The Business Results

Within 3 months the whole culture of the business changed. The team were less frustrated, the business was growing and the managers were happier with the revenue.

The business went over 200% to budget within 3 months.

If you’re interested in our SWOT and Pivot Intensive Program get in touch.