Driving growth with brand strategy
FirstWave is an ASX-listed provider of cloud-based cybersecurity. Central to the business’ success is the technology IP that powers their solution. For over 10 years FirstWave had only one customer, Telstra, who white-labelled their product, selling it to SMEs as a Telstra product. Despite a solid relationship, the Board deemed this strategy too risky, and pushed for greater diversification of income streams. Furthermore, the board was aware that in order to fund diversification activities, a new round of capital needed to be raised, but that the brand message was not strong enough to create investor confidence.
Our job was to support the board and c-suite to create a stronger brand positioning that would support not only the capital raise, but the successive diversification activities. Our role was to also support the crafting of the IM and Pitch Deck to ensure that brand and brand ambitions were powerfully articulated.
Our approach was to apply our stakeholder alignment methodology, combined with a research audit. We needed to first understand the expectations of multiple stakeholders, and then to understand through data analysis, market and competitor review, what the actual diversification opportunities were, and what sort of brand positioning was required to support those ambitions. A series of workshops were undertaken with the C-suite, with the Board as sponsors, to develop a comprehensive Business Lean Canvas and Brand Identity.
– brand positioning which would excite and motivate investors
– brand positioning which would drive immediate clarity with new potential partners and customers
– highly differentiated brand identity with purpose as it is centre in order to drive strong employee and community engagement
– full marketing strategy and plan
The new brand enabled:
– capital raise of $5m to fund diversification activities
– confidence of Singtel to sign a deal for multiple new territories
– confidence of Cisco to become a global distribution partner and the development of a channel marketing strategy with this key partner
– internal confidence to begin the development of a branded SaaS platform for direct to customer sales of cyber-security on a subscription model
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