5 ways to grow your business and get bought (twice!)

on November 23rd, 2016

How to grow your business and get bought (twice!)

 

It was great to welcome clients, old friends of RCR, and lots of new faces to our seminar at the Malmaison in Charterhouse Square last week on ‘Creating high impact integrated marketing campaigns’.

We were also very grateful to our client speaker Paul Cash who has just stepped down as managing partner of successful IT consultancy Fruition Partners UK: a company that has been sold twice in the last two years, (watch his video testimonial here).  Feedback from those who were there suggests that they found his insights into building a successful small business really useful, so I thought I’d summarise some of the key points that he shared on the day about how to generate the growth – and attract buyers for the company – as shown above:

  1. Get focused and identify growth opportunities
  2. Invest in structured marketing
  3. Choose multi-channel integrated campaigns
  4. Test new tactics
  5. Spend more time on analysis

 

  1. Get focused and identify growth opportunities 

After a number of years focused on consultancy and implementation services for the HP software market, around 2011 the company (then known as Partners in IT) made a change of strategic direction.  They took the bold decision to focus on a higher growth market providing consulting and implementation for a different platform – ServiceNow.  They identified that this cloud-based technology offered greater revenue opportunities and developed a new skillset accordingly.

 

  1. Invest in structured marketing

Having taken the decision to focus on this new strategy, Paul said the management team recognised the need to invest in structured marketing to support their ambitious growth plan.  Not having had any in-house expertise for five years, the company acknowledged that their previous approach was ‘lots of shiny ball marketing’ – in other words, plenty of activity chasing the ‘shiny ball’ but no structured plan.  The management team decided that working with an external supplier could be a good option and engaged RCR in 2013 to carry out a ‘full end-to-end’ review, develop a structured plan and help them implement it.

  1. Choose multi-channel integrated campaigns

Paul went on to talk about what had worked well, and pointed to the value of investing time in structured campaign planning that would “build the reasons to talk to us, and engage across our channels, prospects and customers” through a range of different media.

  1. Test new tactics

He was also very honest about his scepticism about some of the new approaches that RCR introduced!  For example, he said he was initially unconvinced about the value of PR, but after a successful trial campaign that we developed in conjunction with PR agency Spark Communications, he was won over to its value in raising profile and differentiating the business.  Similarly, he came to see the value in funding original research among the target market thereby creating innovative content at the core of sales and marketing campaigns.

  1. Spend more time on analysis of what works

Wrapping up with a brief look at what was learnt, Paul talked about spending more time on analysis and learning for future campaigns.  Acknowledging that the fast pace of the market meant that sometimes it was necessary to just ‘get on with the next thing’, he did advise the audience to consider putting in place specific measurement and feedback loops.   Although he did admit that the overall measure of revenue growth (see the chart above) was a good indication of overall success!

The evening wrapped up with a few glasses of wine and some lively chat in the Malmaison bar.

If you’d like more information or a copy of Paul’s slides, then do email us: info@rcrpartnership.com and, if you haven’t already done so, you might like to register to receive regular blogs like this, along with invitations to future events.

by Victoria Ash

 

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