Capturing New Markets and Business
Capturing new markets and revenue for a leading provider of smartphone software, trade-in, and upgrade services
Developers launched more than 26,000 new mobile applications in February 2022 alone. With so much new mobile technology introduced to the market every day, very few innovations stand the chance of making enough money to survive. But for technology leaders that can successfully navigate and monetize their solutions, the rewards are significant.
A leading innovator that partners with major phone manufacturers to facilitate their trade-in and recycling programs found itself in an enviable position: The company had developed proprietary damage recognition technology that they used internally for years. They knew that the technology could be leveraged to create additional revenue streams but they didn’t have the resources or skill set in-house to execute the strategy. A B2B company, they had never taken consumer technology to market and knew the high rate of failure. But, they also wanted to test the model and knew success could attract potential acquisition partners.
- Prolonged cycle times (30 days)
- Low conversion rates (50%)
- High call center activity
- Sub-optimal Net Promoter Scores
Growth & Innovation
Create new sources of revenue
Develop a new business model by vertically integrating proven enterprise technology in a consumer application
By vertically integrating the company’s proven enterprise technology in a consumer application, and quickly taking the technology to market, Manifold helped the company maximize its impact in a crowded space.
As a result, the company captured new parts of the value chain and created significant new revenue streams within a few years, after proving product-market fit in less than a year. With an attractive balance sheet, the company was ultimately acquired by a large warranty firm for hundreds of millions of dollars.
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