03. Accelerating pipeline creation by investing in marketing
Historically, Clearwave’s pipeline came 100% from inbound leads with no marketing effort to drive additional business. If the business was to accelerate organic growth, we knew that marketing would be an important lever. This meant building new marketing muscles to help fuel the commercial engine.
Working with company management, we helped Clearwave hire an experienced VP of Marketing who could develop and execute an integrated strategy that included everything from advertising and thought leadership to social media and targeted outreach. This, in turn, led to a 3x increase in marketing qualified leads in the first 12 months.
04. Making it easier for customers to buy
Before becoming a Frontier company, Clearwave’s offering consisted of a separate hardware kiosk and an ongoing subscription for the day-to-day service. This created a significant barrier to purchase as it required customers of all sizes to make an upfront investment in hardware that was unrelated to how much they would use the solution. This was particularly acute for the smaller mid-market healthcare providers we were targeting.
To address this, we worked with the team to re-examine how to price and package the solution. Of course, changing a business’s pricing model is a difficult and high-risk activity, but Frontier brought in the expertise, analytics, and customer insights to make it a data-driven, customer-centric exercise.
In doing so, we were able to move to a simpler cost-per-patient model that made adopting the solution faster and easier. We transitioned the business from being hardware-dependent to a much more valuable SaaS model.
Not only did this contribute to increased bookings within months, it also increased Clearwave’s annual contract value by 85%.