Background
The company was a start-up business cultivating proprietary software that enabled the consumer to compare and purchase real time from the marquee companies in insurance, banking, and brokerage. Buying was made seamless either online and through call centers. As an independent business with its unique cross-selling platform, the company was pioneering a new distribution channel for its network of financial industry partners, some of which were also investors. With technology licensed from a widely recognized industry innovator and products available through top-tier industry partners, the company was poised for rapid growth. The company now sought commercial leadership to leverage this infrastructure in creating a compelling product offering and customer experience to drive rapid, profitable growth.
The Challenge
Recruit an entrepreneurial, Internet-savvy, consumer marketing executive to a nascent business long on promise but short on resources located in a fading rustbelt community. The CMO would be responsible for ensuring an exciting and satisfying interactive experience while leveraging an understanding of human behavior to influence the selling process and improve the close rate. Subsequently, Advantage Partners was to build out the marketing team to create best-in-class performance and recruit the CFO who could lead the company through the IPO process.
Results
In growing the business to $80 million in revenue and generating more than $1 billion in annual premiums for its expanding group of industry partners, the founding CEO and his team created the most successful enterprise of its type in the country. The company has successfully closed four rounds of financing and attracted new venture capital partners to join the founding investors.
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