Motarme is in the process of raising €200,000 – €100k coming from our campaign on the Dublin-based Spark Crowdfunding platform, and a matching €100k from Enterprise Ireland.
On the Motarme Spark Crowdfunding page people can invest for as little as €200 up to any amount they like. You can see the current status of the crowdfunding campaign here – https://www.sparkcrowdfunding.com/campaign/motarme
Motarme is a High Potential Startup (HPSU) client of Enterprise Ireland and raising €100,000 through Spark will help unlock a matching €100,000 from EI, giving us a total investment of €200,000.
The company is also pre-approved for the Revenue EIIS investment scheme which allows for 40% tax relief – so for every €1,000 an Irish tax payer invests in Motarme they can get €400 back.
In the post below we outline the problem we solve, what market we are targeting and our sales projections over the next 4 years.
What Problem Do We Solve?
Motarme helps businesses to identify and connect with potential customers, helping them to grow their sales pipeline.
We have developed a web-based system to help business-to-business (B2B) companies with sales prospecting.
We sell this solution to B2B software, technology and services businesses.
Co-founders Michael White and Annmarie Doherty launched a prototype of the system in 2015 and spent three years with early clients developing a repeatable process for generating sales leads.
We have adapted the solution to help companies land bigger opportunities at ‘enterprise’ accounts, where sales cycles can take months and groups of senior executives are typically involved in a buying decision.
The Specific Problems
B2B companies need to generate sales.
They have adopted a lot of tools and tactics in the past decade.
But lead generation is still unpredictable.
The process is spread across a lot of different systems – inbound marketing, social media, display ads, email marketing …
Tactics like inbound marketing focus on individual leads, not groups of business buyers.
These tactics work for lower value sales but not high value B2B sales.
Problem – Peaks and Troughs in Lead Generation
Additionally, companies typically experience peaks and troughs in their lead generation.
For example, someone goes to a trade show, picks up a spreadsheet of email addresses that causes a flurry of activity.
Then things die down again until there is a panic 3 months later because the sales pipeline is empty again.
Problem – Targeting Individuals, Not Accounts
Most B2B sales and marketing tools focus on targeting individuals at different companies.
That approach works for lower-value, transactional deals.
But buying decisions in businesses for high-value deals are made by groups of buyers at an account – anywhere between 4 and 8 people typically.
Problem – Focus on Volume of Leads, Not Sales Results
A lot of B2B companies focuses on the volume of sales leads they generate, not the sales results from those leads.
So Marketing units are focused on generating lots of web inquiries.
But Sales teams are driven nuts by the low quality and poor fit of those leads
Problem – Inconsistent Sales Messaging
Buyers are often targeted with different messages on different channels.
They get an email saying one thing about the company.
Then see a display ad that says something else.
And then see Social Media posts with another message.
Problem – Finding it hard to “Cut through the noise”
And because of the increased adoption of inbound marketing in the past decade, sales teams find it hard to “cut through the noise” when trying to contact senior executives at large organizations.
Problem – Companies struggle to land bigger deals
This means that today companies struggle to land bigger deals because they use tools and tactics that focus on individuals, not groups of buyers.
Our Solution – Account Based Sales automation
Motarme’s solution focuses on groups of buyers at an account (company), not just individuals
Our solution helps you to
- identify the best companies to target and then
- find the best people at those companies to contact.
We help you plan a campaign to connect with those companies in the most effective way.
And we execute that campaign for you across multiple channels including–
- display ads and
- direct mail
delivering a consistent message each time.
Focus your efforts on your best targets
Our solution helps you focus your efforts on your best targets – the companies at the top of the pyramid
These are the 10 or 20 companies that you think are a great fit and present a big opportunity but where you have to work harder to connect with the key decision makers.
Automate Tedious Information Gathering
Experienced sales people should focus on converting bigger opportunities.
They shouldn’t waste time scraping websites or scouring spreadsheets to find email addresses and phone numbers.
The Motarme solution automates tedious tasks like this to free up your sales team’s time.
Drive Consistent, Targeted Messages to High Value Accounts
Motarme helps you drive consistent messages to the people you are targeting.
You can communicate the same key points across email, direct mail, phone and social media.
Target Bigger Opportunities
The combination of
- focusing on your most promising accounts,
- targeting groups rather than individuals,
- having consistent messaging and
- using multiple channels
helps you target and win bigger opportunities.
Make Better Use of Your Sales Team’s Time
Focusing on the best opportunities and automating a lot of the steps in the process helps you make best use of your sales team’s time.
This is a big and growing market
Overall the market for Account Based sales solutions is growing at 12.9% and is projected to be worth €1.19 billion in 2021.
The market is driven by the increasing focus on online sales technologies among B2B companies.
The current Coronavirus crisis will drive companies to explore new ways of selling now that trade shows and in-person sales visits are being restricted and travel bans are in place.
This increasing focus on remote sales will drive uptake of Account Based sales technology.
Traction and Projections
With a foundation of licensed customers already in place, we are targeting a total of 28 customers in 2020
We will grow this to 76 customers by end 2021.
We forecast €1m revenue by the end of 2021.
And this will grow to over €4 million sales and 280 customers by 2023.
These numbers are achievable and based on reasonable assumptions.
Purpose of Funds
We want to raise €150k through this campaign.
This will in turn unlock a further matching €150k from Enterprise Ireland, giving a total investment of €300k.
We plan to allocate 40% of that to hiring sales and marketing staff to help us accelerate sales.
We will allocate about 40% to implementing innovative new product features.
The remaining 20% will be used to build out our operational infrastructure to support faster growth.
Motarme has also been approved by Revenue (the Irish tax authority) for EIIS investment, so Irish investors qualify for 40% tax relief.
This means if you invest €1,000 euro, you’ll get €400 back in tax relief.
A Great Market, Proven Demand and an Ability to Deliver
Businesses need to generate a steady flow of sales and they need a solution like ours to help.
We have identified a great market.
We’ve proven there is demand for our solution – we have acquired customers and we’re generating revenue.
We have shown we can deliver both sales and working technology.
We are a High Potential Startup (HPSU) client of Enterprise Ireland.
Raising €150,000 in this campaign will unlock a further €150,000 from Enterprise Ireland, enabling us to accelerate sales and deliver rapid growth in the coming 3 years.
And with EIIS approval from Revenue, for every €1,000 you invest you get 40% of your investment back as tax relief
Check out our Crowdfunding Campaign
This is a big and growing market.
Your investment will help us build a successful and fast growing company that generates strong returns.
You can invest from as little to as much as you want – investments have ranged from €200 up to €15,000.
Find out more https://www.sparkcrowdfunding.com/campaign/motarme