Cybersecurity
Key Challenges
- Dated brand lacked relevance in current market: Seen as a more traditional software company and needed to undergo a transformation to become a modern, customer-focused player across the Asia-Pacific region.
- Repositioning: The newly appointed CEO of an email security business wanted to transition it into a forward-looking, visionary cybersecurity player.
- Growth Inhibitors: The company faced challenges in identifying and addressing the factors contributing to customer churn hindering the ability to achieving its growth targets.
- Lack of a well-defined GTM: strategy and marketing plan hindered the company’s growth.
Approach
SwayTech provided an on-site fractional CMO to work closely with the CEO in building a Go-To-Market strategy and marketing plan.
Through rigorous analysis, SwayTech segmented the client base, identifying opportunities for a new sales and marketing coverage model that addressed the customer churn.
A customer engagement program, designed and executed in collaboration with the sales team resulting in a significant churn reduction from 18% to less than 5% within 4 months.
Upsell Program, designed to support the retention goal and drive revenue growth, SwayTech implemented a targeted marketing programme to support client retention, resulting in 10% revenue growth through upsell of existing software offering.
SwayTech played a pivotal role in establishing a robust marketing capability and executing various initiatives to support 8% YoY business growth.
SwayTech collaborated with the client in devising a plan and new market position, enabling the successful execution of a new product and new market strategy. The channel activation plan, developed by the vCMO, played a crucial role in driving partner success.
Impact
Customer Churn Reduction: SwayTech helped reduce customer churn from 18% to less than 5% in just four months, leading to improved customer retention and revenue stability.
Revenue Growth: Through upselling existing software to a new SaaS offering, SwayTech contributed to a remarkable 10% revenue growth within a year.
Business Transformation: SwayTech played a crucial role in transforming a traditional software company into a modern, customer-focused tech player across the Asia-Pacific region.
Market Positioning: SwayTech supported the development of a new market position and product strategy, enabling the client to become a visionary player in the cybersecurity domain.
Channel Activation: The channel activation plan created by SwayTech empowered partners, resulting in a significant number of potential clients and opportunities for the business.
Marketing Capability Establishment: SwayTech established a robust marketing approach, strategic plan, resources, and budget, resulting in an 8% year-on-year growth after a period of decline.
Ongoing Support: SwayTech provided flexible engagement, scaling up or down as per business needs, ensuring the company’s success during a critical client contract negotiation and beyond.