The challenge
A fintech, having recently raised their series A, felt under pressure from investors to quickly optimise customer acquisition and improve customer life-time value to secure future business success. However, they were struggling to realise their business strategy.
The company had launched several products, but none of them were taking off, and they wanted to implement a marketing strategy to support them. Their proposed marketing strategy was deeply flawed, as it was heavily based on that of a competitor operating in a different country, and consequently very different marketing ecology.
Our approach
The company had been initiating a ‘me-too’ marketing strategy inappropriate to the market they were trying to enter. Invigorate identified this and discussed the differences between the two markets and consequent business models with the client, in order to begin a more productive discussion of unique marketing strategies better suited to the business.
This analysis gave the founder a better platform to understand and exploit the market that the firm was actually competing in. As a result, the marketing strategy they eventually decided on with Invigorate’s guidance successfully increased product demand.
Invigorate were also able to provide structured insights, not only into the marketing strategy, but into useful ways of measuring customer acquisition and lifetime value. This allowed the business to more accurately measure its own performance in metrics important to investors.
The impact
The business, armed with a new marketing strategy, experienced good subsequent month-on-month growth. The founder also had an improved understanding of their own marketing strategy, better equipping the business to make future marketing decisions. Invigorate also matched the company with a marketing advisor, so that they could access support going forwards.
By providing the expertise, Invigorate also saved the company approximately 3-6 months of execution time and the expense of a failed marketing campaign. Instead, the business could capitalise much earlier on its funding, and build rather than lose confidence.
