Challenge
FedTrax was hired by a worldwide software provider of intelligence software to generate Federal account growth and increase its penetration into the Federal government market and serve as a complementary feeder for its full-time sales force. The company’s product was mature and had a history of wide usage in defense, law enforcement, and financial crimes arena. After a series of acquisitions and divestitures, a major disconnect grew between the company and its actual end users, resulting in stagnant sales and declining operations/service contracts that provided an annual revenue stream aside from software licenses.
Action
FedTrax worked with the software firm to identify targets, classified as either ex-customers, existing but low-growth customers, or greenfield (new) opportunities. FedTrax did NOT work on any existing, profitable accounts that were maintained by company account execs. We initiated an extensive outreach campaign to these groups that drew on the existing product name recognition, using the approach of wanting to get to know the end users better in order to serve them better. This approach generated numerous meetings with these target sectors, increasing the number of sales opportunities for the client.
Result
Withing the first 5 months of working as a contract business development arm of our customer, they were rewarded with a mid-sized software licensing agreement from a dormant defense combatant command account that had legacy, little used licenses from a long ago sale. This government account expansion increased overall licensing footprint with the customer and opened the door to future expansion of add-on functionality products complementary to the base licenses.