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Exactive case study

Investor value proposition

In early 2020 Exactive sold for 20 x EBITDA, far exceeding shareholder expectations. Scott Miller, CEO attributes this in part to the 'phenomenal' IM, which captured Exactive's unique value proposition and competitive edge

Highlights

Value proposition

Customer research revealed Exactive’s real value proposition and provided the insight for a change of message…

Competitive positioning

Analysis of market and feedback from Microsoft highlighted Exactive’s competitive edge and unique market position…

Information memorandum

A fresh approach focused on five investor highlights contributed to a sale far exceeding shareholder expectations…

Original brief

Get the team aligned behind a clear value proposition for prospects and investors

In 2018 Exactive shareholders were talking about selling and needed to be sure they were leveraging existing client and partner relationships to optimise the opportunity. Directors had different views, and whilst they were already established Teams specialists with an innovative UCaas solution, they hadn’t fully captured the essence of Exactive and how to differentiate their offering.

The process

Find out what they were like, how they were perceived, review the competitor landscape and find the unique position they could own

Analysis

Internal data helped profile the target market, the IP they bought and the buyer journey. Analysis and commentary from Gartner, McKinsey, and other publicly available industry reports provided external context, wider market trends and an overview of the complex competitor landscape. .

Listening

We talked to clients to understand motivations and hear first-hand how they described their own challenges and goals, what they valued about Exactive, and what they thought about Exactive’s approach.

Microsoft Teams specialists in the UK and the US shared how Exactive’s offering, expertise and approach were viewed by the vendor and partners shared their selling process and how they positioned Exactive.

Getting to know the team

One to ones with individuals in the business provided insight into the culture, the ambitions, and the specialist knowledge within Exactive.

The process got people on the same page, helped us recognise the good work we were doing, and gave us absolute certainty of the way forward.
Scott Millar
Exactive CEO
Game changing insight

The ‘ah ha’ moment was recognising that Exactive needed to move on from the ‘modern workplace’ message

Really helped us understand ourselves: gave us the truth and the language to describe our value
Scott Millar
CEO, Exactive

Findings

  • People in the target were already educated about modern working solutions, and Exactive was already perceived as highly expert in Microsoft Teams and voice.

  • Microsoft wanted expertise, clarity of proposition, but more importantly, increased Azure consumption. A key driver for widespread adoption of Microsoft Teams was seamless integration with global telephony networks. Exactive’s core specialism.

  • Clients wanted help unlocking value, they needed, and valued expertise, guidance, and support with training, adoption, and change management.

  • Conclusion

    The real insight was not about the getting tech in, but making it work. Our message needed to focus on seamless interoperability, change management and adoption.

    Deliverables

    Exactive was sold to a major PLC just before lockdown in February 2020, after a decade of battling to sell the 'work from anywhere' dream. This is the part we played

    Key messaging for information memorandum

    We built the Information Memorandum around five investor headlines: each a direct product of the time invested in understanding Exactive’s market, its relationship with Microsoft and how it creates long term value for customers.

    Refreshed the value proposition

    “Our purpose is to help UK enterprise unlock the value of communications technology, enabling people to work flexibly, collaboratively, and productively. Simply put, “we make Teams work”.

    Identified the core success factors

    We identified the three strong pillars that underpinned the value proposition and provided a point of difference. Deep UC specialism; change management and adoption and world-class customer service gave UK enterprises a faster return on their Teams investment.

    Found their competitive market position

    Only a handful of providers in Europe had their unwavering focus on UC integration, direct routing into global telecoms networks and Microsoft Teams expertise. Exactive’s market strength was their unique position at this intersection.

    The IM was described as 'phenomenal' by one person and 'the best they'd ever seen' by another.
    Scott Millar
    CEO, Exactive
    Summary
    • Information Memorandum
    • Key investment highlights
    • The customer value proposition
    • Unique market positioning

    • Key messaging and story
    • Board alignment
    When you are able to express the personality, values and character of your business it feeds the strategy and nourishes the culture
    Scott Millar
    CEO, Exactive
    Alex is very easy to work with (but no pushover). She listens to understand, not just respond which makes her good at extracting information
    Scott Millar
    CEO, Exactive
    Scott Millar now has a new venture, Carnock Communications. Find out more by visiting their website www.carnockcommunications.co.uk
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