A Case Study For a Swiss Tech Product Company
How Out2Bound helped Pryv realize almost 250 sales calls and improve its market intelligence strategy?
- During our 35-month partnership with Pryv, we have conducted several sales campaigns, reached out to more than 5800 people, and introduced the Pryv team to more than 1130 prospects, 250 of whom expressed interest in a meeting that was soon realized.
- In addition to sales development, in which we helped Pryv identify and contact top-of-funnel leads, we supported them with market intelligence.
- Together we tested market hypotheses and ran market fit campaigns after Pryv began discussing an acquisition with technology and strategy consulting firm Open Web Technology.
Pryv: The Software Helping Businesses Manage Personal Data
Pryv is a Swiss company that develops ready-to-use data privacy and consent management software for data-driven healthcare innovation in the mHealth, Life Sciences, Data Analytics, Smart Cities, Telcos, and Fintech industries. Its middleware helps organizations manage personal data from creation to use, sharing and disposal.
The name of the company derives from the word “privacy” because its software helps engineers which develop platforms that work with sensitive personal data. Pryv specializes in the healthcare and life sciences market and works with all sorts of platforms and apps with a back end that takes care of data storage and consent.
The company was co-founded in 2012 by the Swiss-French computer engineer Pierre-Mikael Legris, current CEO, Simon Goumaz, and Frederic Mauch. A couple of years later in 2014, Evelina Georgieva, a data privacy enthusiast and specialist in purpose-driven e-health digital transformation joined the team as a Chief Business Development Officer and co-founder.
The Sales Challenge
Born in Bulgaria, Evelina moved to Switzerland and helped the company pivot its business model from B2C to B2B. When Evelina joined the team, the company was developing a B2C product that wasn’t showing growth potential. With her help, they pivoted and started targeting B2B clients and raised more capital. Pryv also released their new product, working specifically with MedTech companies.
“It was hard for us to reach our target customers and we were struggling to find the right sales cycle. The users of our product are software engineers who develop the product themselves. Also, they are given a budget to hire new software engineers and fill in the skill gaps. Most often these are the Chief Innovation Officers or the IT Security Directors. Sometimes the budget for digital tools is in the hands of the Marketing Directors,”
Evelina Georgieva, Chief Business Development Officer and co-founder of Pryv shares the company’s challenges before they started to work with Out2Bound.
To improve its sales process and business outcomes, the team of Pryv went through a lot of sales courses and programs. They also hired extra sales employees, but still could not hit their sales targets.
The sales workload was serious and Evelina had one priority. To find somebody who can be an effective substitute for her while she is on maternity leave. For a long time, she couldn’t meet anyone suitable. Then Out2Bound came along.
The role and approach of Out2Bound
How Pryv became familiar with the offering of Out2Bound was not through a regular sales call or an outreach email. Evelina met with Theo S. Shikov, CEO and founder of Out2Bound, at a TechTour event in 2019 by coincidence.
When their casual talk turned into a business conversation and Theo explained what Out2Bound does, Evelina immediately recognized that this is what her company needed. The fact that the Board Director of Pryv was also present at the meeting accelerated the partnership process. Then the company started working with Out2Bound very quickly.
What we did for Pryv
When Theo met Evelina with Boris Georgiev, Head of Sales Innovation and Partner at Out2Bound, she felt that he is the right person. One who can sustain the rhythm that she had developed for identifying new leads and promoting the Pryv brand.
- Sales Development: Evelina and Boris developed a collaboration process in which Out2Bound was responsible for identifying and contacting top-of-funnel leads for her, and then booking the sales meetings. The incoming deal flow was well-selected and all intro sales calls lasted no more than 15 minutes. During that short time, the team of Pryv could understand whether the meeting would be fruitful and lead to a follow-up meeting with a presentation.
- Market Intelligence: Pryv did not only do sales campaigns with Out2Bound. Along with testing market hypotheses, the company also ran market fit campaigns and an M&A campaign after Pryv began discussing acquisions with US companies. In April 2022, Pryv and Open Web Technology joined their forces in a Data Privacy Excellence service offering. Pryv is one of the two companies for which Out2Bound is doing not only sales development but also market intelligence services. This means that such companies receive support in the development of their product roadmap and get market insight, which helps them optimize their market strategy.
The impact on Pryv’s sales funnel
Our 35-month partnership with Pryv started in April 2019. We have conducted several sales campaigns over the past few years and reached out to more than 5800 people. Through these efforts, Evelina was introduced to more than 1130 prospects. 250 of whom expressed interest in a meeting that was soon realized. For Pryv, some of the people we met them with have resulted in possible business opportunities.
What does Pryv like about Out2Bound?
“One can tell that the team is hand selected and that the company truly has a team spirit. I don’t feel like Out2Bound is a company that we have hired to do something for us. All of the team members that we have worked with have been really passionate about what they are doing for us. This shows through the efforts and the dedication they put into their work for us. It feels like they want to bring the company to the next level as much as we do. In addition, they put a great effort into understanding our market and where we fit in our space.
Out2Bound’s reporting and information sharing have been highly structured. They are autonomous in their responsibilities. At the same time, they are always available and adjust to changes even at the last minute,” Evelina highlights.
Pryv will continue working with Out2Bound.
Check out Pryv’s review below on Clutch.co:
Out2Bound is a sales development agency that serves technology companies (software development, mobile, web, and SaaS). We help them attract B2B clients and access new markets around the globe.
We develop and execute outbound sales development strategies on behalf of technology companies to enrich their sales pipelines. As a result, we start conversations with highly targeted potential clients.
Оur experience is in working with 270+ tech companies over the last 6 years. Providing sales outsourcing services gives us the knowledge to help companies achieve predictable and scalable results.
We help existing teams through our consulting service. We also take pride in helping businesses engage and explore new prospects with possible buyers in as little as three weeks.
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Marketing Specialist. On a daily basis, she is a content creator, responsible for Out2Bound’s social media presence as well as helping with campaign planning and strategy development.