G2 Strategic Advisory Services

CASE STUDY: SECURITY SOFTWARE COMPANY

Achieve a successful exit through go to market strategy optimization and channel expansion.

Customer Name:

BitArmor Systems® now Trustwave, Inc.®

Customer Type:

Security Software Industry

Overview:

BitArmor was a Series B stage encryption software company, founded in 2003 with their first product available in 2007, closed two large customers, one in 2008 in Retail and one in 2009 in Healthcare primarily from the efforts of the Founders. The Founders proved their software could attract large enterprise customers at seven figure price tags. However, they had yet to prove they could scale the business through direct sales or indirect sales channels as their sales team was largely unproductive. Customer’s Business Need: The CEO needed to demonstrate to the Board of Directors that he could scale the business through multiple sales channels and attract a suitor.

G2SAS Services:

G2SAS Go to Market Strategy Optimization© G2SAS Sales Optimization© G2SAS Government Sales© G2SAS Sales & Marketing General Management©

G2SAS’ Solution Summary:

G2SAS performed five engagements which led to a successful exit. Our engagements helped BitArmor’s CEO determine where his Sales & Marketing gaps where and offered recommendations to improve results. Our recommendations led to the launch of a new Software as a Service product to perform Key Management in the Cloud which enabled BitArmor to compete more effectively in the mid market and establish an Inside Sales team that added incremental revenue at a lower cost of sales. Other recommendations led to increasing BitArmor’s sales efficiency which led to additional closed opportunities.

Benefits:

G2SAS’s recommendations led to improvements in hierarchical selling messages, content on the website, sales presentations and sales productivity. The new SaaS offering recommended by G2SAS enabled us to recruit an Inside Sales Team managed by G2SAS to quickly begin closing fifty thousand dollar to seventy five thousand dollar sales in the mid market in healthcare and financial services. Additionally a $10 million pipeline was created in the public sector vertical by G2SAS Government Sales. These accomplishments led to a successful summer fund raising that attracting additional investors and given the above demonstration of scalability provided by G2SAS, the successful acquisition by Trustwave in January of 2010.

G2SAS’ Solution Details:

• Launch of a new SaaS solution for Full Disk Encryption targeting the midmarket. 

• Establishment of software industry best practices for direct sales • Establishment of an inside sales team as part of BitArmor’s sales model to expand customer logos and revenue between 50 and 500 seats.

• Elimination of two non revenue generating roles in Lead Generation.

• Recruiting three Inside Sales resources selling Full Disk Encryption in the Cloud.

• Inside Sales selling BitArmor’s FDE client and Server in the Cloud.

• Establishment of a fully automated click through Proof of Concept Evaluation agreement and a click through standard software license agreement for Inside Sales.

• Inside Sales performing outbound telephone prospecting ONLY in targeted industries within the SME space.

• Improvements in Field Sales’ focus and operation.

• Focused field sales where they are likely to be successful; accounts between 250 and 5,000 seats who have implemented DLP.

• Established disciplined qualification tactics for sales i.e. Trial Success Criteria. • Web Analytics and Search Engine Optimization.

• Deployment of a Public Sector Sales team in Federal and Department of Defense.

• Support during Capital Campaign and M&A Due Diligence.

Legal Information

© Copyright G2 Strategic Advisory Services 2011. G2 Strategic Advisory Services 17 De Mun Place, Far Hills, NJ U.S.A. Produced in the United States of America February 2011 All Rights Reserved G2 Strategic Advisory Services (G2SAS) , G2 Strategic Advisory Services, G2SAS.com and G2StrategicAdvisoryServices.com are trademarks or registered trademarks of G2 Strategic Advisory Services in the United States, other countries, or both. If these and other G2SAS trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or ™), these symbols indicate U.S. registered or common law trademarks owned by G2SAS at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. Other company, product and service names may be trademarks or service marks of others. Offerings are subject to change, extension or withdrawal without notice. All client examples cited represent how some clients have used G2SAS services and the results they may have achieved.