The article below – originally published in German – reports how our client iWay, together with Gandt Ventures, achieved a 68 percent increase in sales through digital channels. We not only brought the necessary marketing knowledge, but also implemented efficient and long-term processes to the our client’s company. The project focus was very much on the notion of co-creation, which ensured that our client could continue to grow in the long term, even without a consultancy like us by their side.
Together with their consulting firm Gandt, the internet provider iWay digitalized their company and proved that investments in innovation technology can be successful.
All companies have been affected by one topic this year – Covid-19 and the global pandemic. The virus outbreak has affected every industry in its own way, and will continue to do so for months, if not years, to come. The virus shapes consumer behavior and how consumers obtain information and how they act. There is no question that the pandemic will have a lasting effect on companies.
Even before Corona, it was clear that digitalization would lead to a long-term change in entrepreneurial thinking and acting. The question arises, how can Covid-19 influence the digitalization of business models apart from the classic trade and e-commerce models, which also benefited before Corona? And how can a company that only sells digital products digitalize itself?
iWay is a telecommunications company (Internet Service Provider) from Zurich, who have already dealt with these questions and topics at the end of 2018. In terms of timing, it was exactly the right time to distinguish itself as a company with digital products in the current situation.
Based on their strength and previous growth, Matthias Oswald, iWay founder and CEO, together with Gandt Ventures, decided to ask the question “How can we continue to grow in a saturated market?” in order to invest in sustainable, digital growth through performance marketing and product development. Up to this point, 80 percent of iWay’s marketing mix had taken place offline.
“It was clear to us that we not only have to buy agency services for individual marketing channels, but that our way of thinking, our processes and the organizational structure have to grow with them,” says Matthias Oswald. “The marketing audit with Gandt Ventures gave us the incentive to address and implement the topic of digitization.”
Growth Despite Corona
Together with Gandt Ventures, iWay achieved a 68% increase in sales through digital channels. Gandt Ventures not only brought the necessary marketing knowledge, but also efficient and long-term processes into the company. When Gandt works with a company like iWay, their know-how and their classic digital marketing experience are always brought to a strategic level. Thanks to the focus on co-creation, it is guaranteed that the client company can continue to grow in the long term even without the consulting company.
iWay achieved a 68% increase in sales through digital channels.
In a period of twelve months, iWay and Gandt Ventures achieved a 68% increase in sales via digital channels, plus 27% in traffic, an increase of 79% in the conversion rate, and a 17% decrease in cost per order. What were the success factors in this project?
The project with iWay showed that the digitalization of business models that are already digital can still uncover great potential. The use of synergy between company divisions, the creation of new positions and the reaction to short-term learnings are just as important as the operational implementation of digital projects.
A key learning from the project that is relevant for all companies is that digital growth also has its limits. Human resources must not take a back seat. Internal structures at iWay are still changing, which is why iWay has hired a new marketing manager.
Francesco Caiafa is now taking the brand and the company to the next level with his expertise. Matthias Oswald will also hand over his position as managing director to his co-founder Markus Vetterli on January 1, 2021.
The world is also in a unique time of global change. This process has a predominantly positive effect on entrepreneurial development and digitization. Still, continuity is important.
How iWay Generates Digital Growth
Transaction and customer data, product and usage statistics, number of website visitors. This data should be combined and evaluated so that companies have an evidence base for decision-making.
Create processes that deal with the optimization of the user experience (UX) and establish mechanisms. These processes steadily increase the probability of a transaction and are important factors in increasing efficiency.
CRM und Marketing Automation
React to data-driven signals with automatisms, thus becoming more efficient. This saves time in choosing the right approach at the right time.
Establish structures that are continuously optimized using data-driven processes that help reduce marketing costs and assert yourself against strong online competition.
Continuously Optimize Digitalization
Above all, continuity means investing in long-term processes and not just acquiring singular knowledge. This includes hiring the right people in the company.
It is also important to try new things and never stop testing. Information and key learnings are crucial before final decisions. Quick action is the order of the day. Long planning cycles are inefficient; it is important to create structures for fast learning processes. Companies should remain critical when choosing digital consulting concepts and their implementation, as they tend to be more expensive. For this, structures have to be built which can optimize all the variables of the process.
For Gandt Ventures, this means not only understanding business models strategically, but also implementing them directly, as a digital enabler for their corporate customers.