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TrueContext: Acquired by Battery Ventures in March ’24
- Product
Pioneering new category solution: Enterprise Low-Code Application Development platform. - Stage
Mark M.J. Scott joined the company at the early stage, (12 employees), as founding VP Marketing when they had obtained commercialization funding. Sales were < $500K ARR. - Outcome
Sales increased from <$500K to $30M ARR, captured category leader position, company acquired in March 2024.
Challenges
- Complex and technical-focused messaging few employees could effectively communicate value proposition – not scalable
- Lack of market awareness with target markets; Energy, Medical Devices, Utilities, Heavy Manufacturing
- Lack of credibility due to early-stage company/category – perceived as risky start-up with an uncertain future
- Lack of pipeline to support a growing channel and direct sales team
- No account growth strategy to expand ARR with key customer accounts
- No category leader or clear distinction of the organizations positioning and product differentiation
Marketing Strategy
- Positioning foundation: Developed positioning infrastructure to improve messaging and impacts
- Influenced category leadership through thought leaders, industry champions, analysts and media
- Brand awareness strategy through co-marketing programs with partners
- Key Opinion Leader & Customer Advocacy strategy to strengthen credibility and awareness
- Scalable sales pipeline strategy to feed sales team on high value/quality opportunities
- Account Based Marketing (ABM) strategy to influence growth of closed accounts
Outcomes
- Captured category leadership position and established the unique product capabilities as the accepted standard for the category leader
- Accelerated brand awareness by securing millions of dollars for co-marketing programs with Apple, Microsoft, Samsung, AT&T, Panasonic…
- Attracted Global 500 clients with value-based messaging. Scalable messaging bolstered performance of sales teams, increasing revenue
- Elevated the brand credibility via thought leadership/case studies with Shell, OTIS, DHL, Philips Healthcare, PG&E…
- Scalable sales pipeline strategy delivered high multipliers of ARR pipeline and closed LTV, versus campaign spending.
- Improved the volume/value of expansion deals by influencing 100% of expansion opportunities
“Mark has a powerful ability to surround himself with great people. He and his team crafted and executed a marketing strategy that significantly boosted our brand awareness and credibility. This not only fueled our sales growth but also established us as the leading enterprise solution in our product category.”
ALVARO POMBO
FOUNDER & CEO
TRUECONTEXT
