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Locally listed Whispir Limited (ASX: WSP), is significantly increasing its focus on the North American market with a new go-to-market strategy and personnel to accelerate revenue growth in the region. The refined strategy will support Whispir’s broader business objective of 50 percent of Annualised Recurring Revenue (ARR) coming from international operations by the end of FY23.
The SaaS communications workflow platform that automates interactions between organisations and people, says its North American strategy will focus on the SME and SMB markets, a segment that is currently under-serviced yet has a lower cost of acquisition and ownership compared to larger enterprises, and aligns with the Company’s low-code/no-code capability and challenger sales model. In North America, SME companies have annual revenue of US$100m – US$1bn and 50-1000 employees while the SMB market captures companies with US$10m – US$100m in revenue and 10-50 employees.
Whispir will use specific persona-based targeting and scalable digital marketing campaigns to acquire new customers within the SME and SMB markets. In addition, Whispir will continue to develop and invest in its channel partnerships, aligned with industry-based go-to-market strategies to cost-effectively acquire new North American customers.
To deliver on its growth strategy, Whispir is significantly increasing its personnel in the region, appointing several senior leaders and expanding its North American headcount to 55 over the next three years.
New senior personnel appointments include Aled Miles as a US-based Non-Executive Director and David Gilbert as VP Americas. Other roles being added in North America include Business Development, Channel, Senior Marketing, Sales Enterprise and Onboarding.
Whispir CEO Jeromy Wells said, “The North American market is highly competitive at both the top and bottom ends of the market, however, high-value small and medium sized businesses are not well serviced at present. These businesses are often overwhelmed as they look for efficient ways to operate, as the wave of digital transformation sweeps the world. They know they must increase engagement, but they don’t have the time or money for large, customer-built solutions that take several months or years to implement.
“Our low-code/no-code multi-purpose communications technology is perfect for them, and provides us with a substantial market opportunity.
“Our new strategy leverages our successful playbook for entering new markets, most recently in Asia, and ensures North America is aligned with our broader business objective of 50 percent of Annualised Recurring Revenue (ARR) being generated by our international operations by the end of FY23. We expect our North American go-to-market strategy will start gaining traction in January 2021.
“Each market has its own unique set of characteristics, with the North American market dynamics quite different from both Australia and Asia. Our learnings within the US have informed this strategy. Importantly, our refined North American go-to-market strategy is funded within our existing global plan, which has benefitted from positive cost management initiatives as well as sales and revenue success.
“We now have the right leadership, strategy and partnerships in place to build for future growth within our largest addressable market.”