How Enhencer Achieved Exponential Growth and Success with Metheus Consultancy
About Enhencer
Enhencer is an AI technology that predicts the purchase intentions of website visitors. Enhencer gathers visitor data anonymously for medium- to large-sized e-commerce brands in accordance with GDPR and other data privacy laws. Based on the behaviour of website visitors, a self-learning AI engine automatically predicts and extracts the most valuable segments and audiences. So that their ad campaigns on Facebook, Google Ads, Tiktok, and Twitter can be more effective, Enhencer obtains the most relevant real-time retargeting and lookalike audiences for their customers’ and their products' needs. Enhencer connects to each ad platform, focuses their customers’ advertising campaigns on consumers who are highly likely to make a purchase, and helps their customers gain new buyers by using the appropriate lookalike audiences.
Challenges before working with Metheus Consultancy
Before engaging with Metheus, Enhencer determined ambitious but achievable goals to grow their 100+ customers portfolio. Since Summer 2022 after closing its $700k investment round, Enhencer had been working actively on expanding its business operations into new countries to reach a wider customer base. They were quite successful in acquiring new clients in new markets; yet, Enhencer's reputation in Europe and North America was still nascent. Olcay, one of the founders and CEO of Enhencer thought that lead generation process should scale and customer acquisition cycle can be accelerated.
To tackle these challenges, Enhencer's team had brainstormed some preliminary ideas for expanding into European and North American markets. However, they were still unsure which market to prioritise and focus their efforts on. They had investment and resources, but no experience in scaling lead generation efforts or marketing automation in customer acquisition process and how to differentiate Enhencer from a highly competitive ecommerce shopper analytics and ad optimisation landscape.
Additionally, they were skilled at generating leads but lacked the organised, data-driven approach necessary to develop a lead generation strategy, inbound and outbound marketing tactics that ought to have been incorporated into it.
Metheus Consultancy’s Execution Strategy and Implementation
Building an expansion strategy by understanding Enhancer and its goals
Firstly, we gathered with Enhencer team in order to truly understand the company's priorities, team members' skills, and resources allocated for market expansion. The Metheus team also looked at the business plans, product offerings, and technological usage of Enhencer's rivals to gain a better understanding of the market. After the initial sessions, our team had a clear understanding of the market landscape and Enhencer's place in it. Our consulting team developed a roadmap that will identify the best markets for Enhencer, bring all the necessary capabilities to generate leads from various channels, and confidently bring on board new customers.
Metheus market prioritisation decision intelligence model
In order to determine which markets would bring the best opportunity for Enhencer and we’ve used our decision intelligence country prioritisation model. The inspiration for our model came from a variety of sources, from each market’s ecommerce market maturity & market size to Metheus' insights on business culture, B2B purchasing procedures of medium to high size ecommerce merchants to multinational enterprise brands and competitor analysis for each business segment.
Structuring an omni-channel business development process
A clear definition of ideal target company profiles, buyer personas, and a comprehensive potential lead list are produced after potentials have been identified and focus countries have been chosen. This is followed by the development of an omnichannel lead generation strategy. The plan included an analysis of every inbound and outbound marketing tactic to select the highest returns and integrating each activity with Enhencer’s CRM platforms in order to touch and engage with the right audience.
Metheus frameworks to support lead generation and marketing execution
Not just the formulation of the plan, Metheus began assisting Enhencer with the entire expansion procedure. Enhencer team started new initiatives like targeted outbound reach-outs from LinkedIn and email prospecting, lead nurturing for keeping the engagement live and providing the best assistance to brands even before being a customer, and automation in whole business development and sales cycle to scale Enhencer’s efforts. The procedure included Metheus Consultancy’s guidance and frameworks prepared directly by us for Enhencer to better comprehend and carry out the tasks.
Optimising sales funnel through data-driven insights
Together, we’ve also optimised the existing workflows to increase the conversion rates and fasten time to conversion for Enhencer. Throughout these implementation stages, Metheus team provided best practice case studies, reviewing Enhencer team’s past activities and exercises which led to the entire process running smoothly. Digital marketing implementations, UI/UX of Enhencer’s website, platform and web analytics are unified in an analytical structure to access data, quickly generate insights and make data-driven tactical changes on the road.
The later stages of the roadmap are focused on building a sales funnel, closing deals, developing partnership strategies, automating lead generation and business development processes, and building an organisational structure that enables successful implementation of the chosen strategy while adhering to a predetermined budget.
Results Achieved Together
With the help of Metheus, Enhencer was able to overcome several challenges and achieve significant results. The following are the key outcomes that were achieved:
Direct Increase in Customer Amount and Revenue:Enhencer has now reached 250+ active customers. This is up from 100+ customers 6 months ago. Metheus helped Enhencer to expand their business in new markets, which resulted in acquiring new clients and increasing their revenue. The roadmap developed by the Metheus team helped Enhencer to identify the best markets and develop a lead generation strategy that enabled them to target the right customers.
Higher Quality of the Platform's Value Offering:Metheus transferred market expansion, go-to-market expertise, customer insight and understanding of expectations to Enhencer, helping them to improve the quality of their product offering. By understanding the market landscape and its competitors, Enhencer was able to improve its offering and provide a better value proposition to its customers. As a result, the number of customers in the new markets targeted by Enhencer increased by 173%.
Scalability in Lead Generation and Opportunities: Metheus helped Enhencer to create an efficient and automated process that allowed them to scale their business. This enabled Enhencer team to generate 534% more leads and 254% more solid, qualified opportunities. The roadmap developed by Metheus included automation and partnership strategies that helped Enhencer to streamline their operations and expand their reach.
Metheus gave Enhencer a precise and organised plan including implementation strategies and monitoring tools to increase transparency and concentrate on the right metrics. We assisted Enhencer in establishing business analytics systems, which enabled Enhencer to analyse all data in the CRM & analytical platform to facilitate their decision-making regarding tactical changes.
“Working with Metheus has been an exceptional experience for Enhencer. They provided valuable insights and guidance throughout the entire expansion process. The results we achieved together speak for themselves, with an increase in our customer base, revenue, and overall platform value offering. We highly recommend Metheus to any company looking to expand their business and achieve growth.”
By working together with Metheus, Enhencer was able to overcome their challenges and achieve significant results. The roadmap developed by Metheus helped Enhencer to identify the best markets, develop a lead generation strategy, and streamline their operations to scale their business.
If you're inspired by this success story and looking to achieve similar results for your own business, don't hesitate to take action.