A Niche Market
This is something we hear over and over again from our most successful partners: find a niche market.
By identifying a vertical industry or market segment, you can pinpoint their very specific pain points and needs and then tailor the solution to meet those requirements and support their growth. It’s a very simple, yet very powerful strategy that makes your solution more valuable, marketable, and competitive.
The Redcliffe Group found their niche in the independent insurance industry. Their very first customer on the Bicom Systems platform happened to be an insurance agent. He introduced them to the unique needs of the insurance sphere, starting with AMS (Agency Management System) integration.
Charlie was able to use the URL function on Communicator to integrate the customer’s AMS, setting off a sequence of events that would shape his success in the niche today. He began integrating more industry-specific features like automated marketing tools and e-signature capabilities.
Among the many advantages of selling to a niche market, the insurance vertical allows The Redcliffe Group to command a higher value from customers per extension, driving revenue even further. Charlie also mentions that “tight integrations into customers’ AMS systems have made the product highly sticky, reducing churn rates to the low single digits.”
A Reliable Product
When asked about his favorite features or selling points of Bicom Systems solutions, Charlie named a number of products and features, for example third party integrations, but said that in the end the most important aspect is that “it just works.”
He attributes the reliability and stability of the products to enabling him to sell his company two times and continue to grow and drive revenue.
The Redcliffe Group is able to support nearly ten thousand extensions with minimal support staff thanks to the fact that the product works so well. This allows the company to focus its energy and attention on other areas like marketing and ongoing growth.
“We wouldn’t be able to do what we do now,” says Charlie, “if your product didn’t perform as it does and your support team lets us set it and forget it.”
Going back to the strategy of targeting a niche industry, The Redcliffe Group built their business model around integrating with third party products, like CRMs, that their customers need. Bicom Systems makes this possible with white label, highly customizable products and collaborative customer support.
A Supportive Partner
Speaking of collaborative support, Charlie attributes the bulk of his success to the model of partnership he found in Bicom Systems.
“It is the most unique vendor-customer relationship I’ve ever had,” Charlie says, “which is extremely refreshing and powerful in terms of what we can accomplish.”
So what makes the partnership so unique and powerful? That each party stays in its own lane. Bicom Systems brings stable software, excellent support, and open collaboration to the table. The Redcliffe Group brings the actual product that goes to market. The marriage of these two solutions results in a more comprehensive solution and success for both parties.
Charlie has encountered other big industry players that are overstepping their boundaries, trying to sell in what is meant to be partner space. Bicom Systems is 100% committed to the position that we should never compete with our partners.
This empowers The Redcliffe Group to have an extremely targeted product and message for their market and the confidence that comes from controlling their product and customers fully.
Bicom Systems does not compete with partners, never asks for customer data, and does not require partners to meet quotas. We simply support and collaborate as much as possible to achieve mutual success.
A testament to their trust and confidence in Bicom Systems, The Redcliffe Group is 100% hosted by Bicom Systems.