An IT company sought to expand its customer base and grow revenues

A 110-person, $24MM/year IT company wanted to expand its business by going upstream to even smaller clients, but didn’t know where to start or how to get there.

After talking with leadership, it became clear that a new product initiative was the best approach. The client had the resources to execute such an initiative, but not the leadership and experience.

Convex started with product-led growth

We worked with the client’s leadership to identify a new ICP: small 1-5 person startups in a vertical in which the client already had a strong presence.

Next we worked with their people to set up a continuous discovery process. We met with prospects in the new ICP multiple times a week, listening to founder’s stories about their challenges with IT.

We led the team in organizing the opportunities uncovered in those stories and worked with leadership to identify a few possibilities with extremely high value. 

We then worked with their product team to rapidly experiment and test those high-value opportunities, and we identified one that had a high probability of gaining rapid customer traction.

Finally, we led the product team in creating an inexpensive MVP, landing initial beta customers, and iterating on the product to onboard even more customers.

The outcome: $2M-$3M of new revenue in 12 months

The client is onboarding new customers and is on track to generate $2M-$3M of new revenue in the first 12 months, with growth to the $5M+ range on the horizon.

Their product team now has the capabilities to run discovery, prioritization, and rapid experimentation and prototyping processes on their own, and is now looking at adding other new lines of business to grow revenues even further.