As the provider of a leading technology platform for logistics and transportation companies, Transport Exchange Group (TEG) came to DueDil with a big challenge.
The company was moving fast to disrupt the logistics industry by linking freight companies with goods that need to be shipped via their freight exchanges, creating more efficient and time-saving haulier solutions.
With more than 38,000 active users around the globe trading 1.3 million movements worldwide, TEG’s platform helps to solve some nagging problems in the logistics industry: driver shortages, fluctuations in demand and the so-called “empty truck” problem – the Freight Transport Association estimates nearly 30% of trucks in the UK are running without any freight.
In an industry that adds around £124 billion to the UK economy each year, TEG’s potential market was vast: from sole traders and regional courier firms to large, high-volume freight companies such as CitySprint.
The only problem was that accurately identifying a large number of its potential customers was highly labour-intensive, which could potentially stifle growth.
Having set ambitious growth and sales targets, TEG needed to act fast if it was going to establish itself as the leader in its space. So, it knew it couldn’t waste any time discovering its total addressable market and identifying where any gaps were lurking. Crucially, it needed to do this without bogging down its sales and marketing teams with time-consuming research: a necessary evil in the past.
As an added issue, the company had just repositioned its sales team to be more outbound focused, so it needed to quickly accelerate its sales process with the right insights.
Supercharging growth with unique company insights
After partnering with DueDil in 2018, it wasn’t long until TEG achieved results. It quickly identified a universe of more than 7,000 couriers through the platform – 4,500 of which were not current customers.
The rich insights in DueDil’s company intelligence platform helps the company to identify which prospects are the kind of fast-growing companies that should be at the top of the sales team’s list.
For TEG, a major attraction was the speed at which the platform allows it to identify prospects and convert them to new customers. DueDil’s open data platform automates and accelerates the previously manual tasks of identifying new prospects and updating customer records by seamlessly integrating with TEG’s systems and processes.
By harnessing DueDil’s rich company information, including typical company size, gaps in market, and where each potential courier is located in the country, TEG has elevated its marketing strategy, creating an ideal customer profile that helps it identify prospects that are invisible to traditional approaches.
“We were able to build a list of all of the potential couriers in the UK by searching for specific keywords related to the type of business they do,” says Marc Clifton, Managing Director at TEG. “This makes it possible to segment our existing customers and identify new ones.”
Turning enterprise sales into a growth machine
By doing this, TEG not only uncovered thousands of potential customers, it also realised it needed to develop a new sales approach. “We realised that we needed more of an enterprise approach, so we imported the DueDil data into HubSpot and started an enterprise team to focus on those client types,” Clifton said.
This helped TEG to achieve the highest growth numbers in enterprise sales since it launched 20 years ago.
“Part of this strategy was to make our sales team more outbound focused and we couldn’t have done it without DueDil,” Clifton says. “In our first year the platform helped us achieve enterprise sales growth of 80%, bringing more freight onto the platform to the benefit of our members.”
The level of detail available from DueDil also helps with the process of finding sales opportunities that were nearly impossible in the past. With carefully-chosen keywords, TEG can build comprehensive lists of potential new courier customers – invaluable when pinpointing companies operating in the transport and logistics industry, some of which will have no online presence.
“The platform makes it possible to find companies that operate in our market but may be too small to have an online presence,” Clifton says. “Without the platform, it would be near impossible to find these prospects.”
DueDil also provides TEG with the insight necessary for segmenting companies by revenue earned. By leveraging information on revenue and turnover, TEG can pinpoint which courier firms earned £40 million-plus as well as those that are seeing employee growth of 30-40%. With this information, TEG can build a precise list of potential enterprise clients that will help it to achieve its ambitious growth targets.
“With employee data, we are able to segment companies by how much their workforce is growing. What we do is look at employee growth and then focus on those companies that have a level of employee growth that make them a good fit for our platform,” Clifton says.
Leveraging automation and integration
Since TEG began using DueDil, the results have been impressive. Not only has the company successfully identified its market, but it has created valuable customer personas and segmented its client base. This achieved quick results, with 4,500 new potential customers and annual enterprise sales growth rising to 80%.
More importantly, TEG has formed a partnership with DueDil that supercharges its new business initiatives and accelerates B2b sales growth. The DueDil platform has become an essential tool that enables TEG’s sales team to react more quickly to new opportunities and gain a clearer view of potential customers.
As a result of this success, TEG is seeking to further integrate DueDil technology into its systems as it aims to create greater efficiencies in workflow and automate the process of cross-checking client information and performing due diligence.
Given the results that TEG has seen so far, there’s no doubt DueDil is helping it gain traction in the logistics market.