Building efficiencies to scale fast
Trengo helps businesses integrate their communication channels into one powerful inbox, from email to WhatsApp, from voice to live chat, Trengo lets businesses collaborate within their internal team, automate conversations and deliver amazing customer experiences.
Trengo has grown successfully to around €3m in revenue, an increase of more than 150% from last year. With over 1800 customers, of which 35% are from outside the Dutch market.
Growth to date has been based on feature selling, and there is an agreement in the business that it needs to move towards solution selling in order to be perceived as offering more value for customers.
This will require Trengo to adapt and requalify product/market-fit across different sectors and locations, and, in turn, develop a new pricing model. As Trengo looks to aggressively expand into new markets, there is work to be done to ensure the company is ready to scale and Trengo entered Compass with a solid position to progress its expansion planning and to begin its journey to becoming a truly global company.
To prepare for international growth Trengo plan to build greater consistency into their sales process and rely less on inbound leads, so there is work underway to understand the complete customer lifecycle from acquisition to churn and the metrics and dynamics that drive the cycle.
The company is creating an experienced leadership team and implementing performance management throughout the business, so it can operate in a more consistent and repeatable way across its markets. With many competitors, the team will need to understand their core USPs better, what differentiates them and what makes them valuable in their customer’s eyes.
Just go for it! Just do it! Just try it as we will do the same and learn from the best. Of course, there’s a lot of learning but it’s not rocket science. Go for the easy ones first and don’t forget to test the market upfront.
Compass put internationalisation on our roadmap. It helped get the team aligned and to bring up the topic to focus together on going international. We already had ideas, but now we have a focused plan.
Before we applied, we didn’t really have a long term strategy on paper. We had no idea where to start so participating in Compass has given us the focus to work on our strategy, talk to our current investors and learn from experts on the programme. Along with our own activities, the research and advice received throughout Compass have speed and we now have expansion plans to kick off.
We are currently doing research into our top 5 markets and are trying to get a few things off the ground. A lot of hiring, new messaging, products, partnerships and kickstarting a marketplace that we are going to launch in the future.