Customer
Scott Spence, Managing Director at Fundsquire
Organization
Fundsquire
Industry
Information Technology & Services
How Fundsquire doubled their team size on the back of revenue generated by GrowPilot
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“I would have never realized there were clients in places like New Brunswick or Nova Scotia that were interested in us without GrowPilot.”
Target audience
SMBs, startups and businesses doing R&D who could benefit from cash flow lending solutions
Engagement Objectives with GrowPilot
Fundsquire's primary goal was to grow their market share and loan books in Canada, the UK and Australia
Pain Points before GrowPilot and the Decision to Engage our Services
There is only so much a small team could do with limited resources.
Prior to engaging GrowPilot, Fundsquire mainly relied on adwords and their referral network to source new leads. Adwords was not generating a substantial amount of leads and many of the leads coming in were unqualified.
Finding the right type of people that fit their ICP also proved to be challenging.
The managing director felt that hiring a sales representative was a bad strategy - it is costly, would require a lot of training and they would need to hire many reps to accomplish their goals.. They didn’t have confidence it would support all of Canada, the UK, and Australia with enough leads unless they hired 3 new representatives.
In comparison, GrowPilot could cover the sales for 3 countries at a much lower cost and free up Fundsquire's resources. A single sales person can only do so much. A team of experts who have knowledge and process on all parts of the selling process was more compelling.
In 2 months, GrowPilot helped them figure out what their ICP was, validated their ideas and tested the market (size, location, decision makers, e.t.c).
“I would have never realized there were clients in places like New Brunswick or Nova Scotia that were interested in us without GrowPilot” - Scott Spence, Managing Director at Fundsquire
Why GrowPilot?
The outbound process requires tools, process and time commitment. Fundsquire decided that their resources were better invested elsewhere.
Here are some of the factors behind choosing GrowPilot
1. List Building
List building is a time intensive process, that was not in their skill set and they did not have resources they could dedicate to it.
2. Personalized Messaging
Messaging was another important factor behind their decision to engage GrowPilot. Personalized messages, sent at the right time and with the right frequency are the key to success, and Scott realized that.
3. Testing and analysis of campaigns
Fundsquire did not have the resources to meticulously test and analyze the results of campaigns.
4. Goals
If they had continued relying on adwords, they would have likely reached only a quarter of their goal at best.
“Basically we got a whole team of experts, rather than a single sales person.”
Fundsquire X GrowPilot
By the end of 2018, Fundsquire exceeded their targets in Canada, and half of their deals were sourced from GrowPilot.
Their deal size also got larger.
Quality of the deals sourced from GrowPilot were also much higher as compared to adwords.
GrowPilot' highly targeted campaigns ensured that we were engaging people who already knew about R&D, and did not require as much education on Fundsquire.
Metrics
GrowPilot generated 90 positive responses over the course of 5 months.. The campaign was so successful in UK that they had to pause it because they couldn’t deal with the volume of leads.
They also hired 3 additional people.
“GrowPilot did a great job on sharing our story. Andrew did a great job learning about our business and becoming an expert on what we do. He can articulate our product to our niche audience, and create compelling and engaging messaging.A lot of people open emails rolling their eyes knowing it’s sales oriented. But with GrowPilot, people actually engage positively with the emails. It’s very human, the personalized aspect of it is great.The set up process was collaborative, they worked closely with us to reflect our brand. It was far less work than needing to train someone and most of the work was just refinements. I trust in GrowPilot when it comes to creating amazing copy.”
"A lot of people open emails rolling their eyes knowing it’s sales oriented. But with GrowPilot, people actually engage positively with the emails. It’s very human, the personalized aspect of it is great.The set up process was collaborative, they worked closely with us to reflect our brand. It was far less work than needing to train someone and most of the work was just refinements."
Connection Rate
Response Rate