Helmi Technologies -- Market Entry Strategy and Customer Intros
Company/Product: Helmi Technologies is a Finnish software company that provides cutting-edge software and tools for development of zero-install, rich Internet applications (RIA). Helmi’s RIA ToolKit provides automatic browser compatibility, enables higher performance Web applications, and contributes rich UI features that lead to a better user experience and fast, inexpensive Web application development.
Company Initiatives: Based on global market trends, Helmi decided that it should expand its operations into the US marketplace in order to most rapidly grow revenue. In addition, Helmi planned to raise money in Finland to fund its Finnish operations and product development roadmap as well as its international expansion into the US marketplace.
Challenges: Due to the fact that Helmi was a Finnish company without a US presence, the company was not able to clearly assess how best to pursue its expansion into the US marketplace. Key market parameters such as its best target customer, specific customer needs in the RIA space, the competitive landscape, most important product features/benefits, optimal pricing, and the best channel strategy were not well understood. The US market opportunity appeared clear, however, the risks were also known to be significant.
Solution: PCG partnered with Helmi to provide a comprehensive solution for overcoming these challenges. The goal of this partnership was not only to develop the best strategy for successful US market entry but also to guide Helmi with the execution of this roadmap.
As a first step, PCG provided Helmi with a strategic roadmap for its US market entry based on the following key components:
Based in part on the strategic documents and analysis listed above, Helmi was able to secure more than US$1 million in funding from the Finnish government and private investors within 4 months of project kick-off.
- Detailed market/customer analysis, product validation, and channel/partner analysis
- Integrated 18-month product, marketing, sales entry strategy
- Detailed 3-year ROI analysis and comprehensive pricing strategy
Following the funding, PCG helped Helmi to execute on its initial US market entry plan. To begin the US launch of Helmi’s RIA Toolkit product, PCG and it partners made introductions to 6 well-qualified prospects within a 60-day period. As a result of these prospect introductions and assistance from PCG and its partners, Helmi was able to secure 1 US customer, 1 LOI, and additional pilot customer interest within 100 days of its initial US market entry.
Due to rapid US market acceptance, Helmi’s investors took the rare step of asking Helmi to allow them to increase their investment by a significant percentage within 6 months of initial funding.
Testimonial: "Paradigms Consulting Group (PCG) was very valuable to Helmi in helping us to successfully enter the US marketplace. PCG’s savvy strategic guidance coupled with Jorden’s contacts and introductions have provided us with the tools to reach our goals and exceed the expectations of our Board. We strongly recommend PCG’s services to other companies that are expanding into the US marketplace." -- Juho Risku, CEO
CIPplanner--Market Analysis, ROI and Pricing Strategy
Company Initiative: CIPplanner has developed innovative planning software for automating the capital budgeting process for government agencies. The company had developed customer traction and wanted to understand the scope and depth of its financial and market opportunity.
Challenges: The company did not have significant experience with enterprise sales or with government sales. As a result, it was difficult for the company to understand how to scope the size of its opportunity and develop an optimal pricing strategy for its software products.
Solution: After carrying out a detailed analysis of the market, PCG interviewed many government officials responsible for the capital planning process. This assessment provided needed information for understanding both the market and financial opportunity for this space. Based on this analysis, PCG then developed an ROI and pricing strategy to enable CIPplanner to justify its pricing and maximize its value sales proposition.
Testimonial: “Jorden provided us tremendous value by helping us develop a rationale for significantly increasing our software’s price point. Also via his contacts and introductions he has helped us validate our market and tune our value proposition. We are now positioned more strongly as a viable software company. We strongly recommend Paradigms Consulting Group’s (PCG’s) services to companies that want to accelerate their business success.” Wayne Xie, CEO CIPplanner