UK market opportunity backed by insights
Melbourne-founded Buildxact offers state-of-the art job management software for builders and other professionals in the trades industry, helping them to estimate and manage jobs more easily.
Buildxact had already expanded into New Zealand and Canada – identifying the US and UK as its next targets for expansion. Chief Executive David Murray had already invested time in the UK, getting to know the customer builder ecosystem. He now wanted reliable data and insights to back up what he was seeing and give him and his Board confidence in the UK market opportunity.
Through working closely with David and our research partner to identify the gaps in Buildxact's knowledge and what they needed validating, the report gathered insights on market trends, the size of the opportunity in the UK, the competitive environment and identify potential partner organisations.
This research validates to my investors what I already thought I knew. It resulted in the go-ahead for a new cap raise, GDPR investment and UK localisation of product.
We were able to provide insights on the UK market including legislation and government policy and overall market growth gave Buildxact the confidence that the market conditions and time is right.
The market opportunity in the UK was 74% higher than their home market. This information coupled with an assessment of the building market and a detailed comparison against competitors justified the financial investment they planned to make.
The competitor analysis showed there is a market for their software and that they have a unique value proposition. The detail we were able to provide on their competitor’s size, performance, product and pricing and marketing messaging gave David confidence in Buildxact’s ability to set them apart from the competition.
David was in market for a week whilst we were delivering Go-no-go which gave us an opportunity to open up our network and introduce him to UK experts in accounting, finance and the building industry who could help him understand the market entry journey ahead.