CASE STUDY
2x Revenue Increase and Series B for HRTech SaaS Start-Up
About the Company
Hackajob is start-up Talent Marketplace helping companies hire software engineering talent.
#hrtech
In 2019 they received Series A funding of $4M.
Challenges
Revenue growth rate slowing at $1M ARR
Customers with low engagement and high cost to retain
Cash flow/runway
Unpredictable ROI on marketing spend
Multiple Service/Delivery Models + #agencylike #featurespaghetti
Analysis
After running a client account analysis with founders and leadership team we identified:
Key Accounts with High Hiring Success via Product
Accounts with High LifeTime Value (LTV).
Paid high value contracts, e.g. +$100K pa
These customers all had engineering teams of +100 engineers and therefore unavoidable and ongoing need to hire (even without headcount growth).
Typically these customer accounts were legacy brands, e.g. retailers or large consulting / system integration companies.
All had internal Talent Acquisition/Recruitment teams motivated to AVOID competitive alternatvies, e.g. Staffing Agencies.
Action
Relaunched the website with new positioning FROM disruptive messaging of
“cheaper than agencies.”
…TO focus on differentiated value:
“Hire top tech talent in just 17 days or less”
Simplified messaging on benefits and value (rather than tech features):
Speed to Hire
Trusted Validated Talent
Cost Saving/Scalability
Go-To-Market switched to Account-Based Marketing strategy:
Removed employer sign-up from homepage
Stopped non-performing marketing channels
Re-allocated marketing resource towards thought leadership content and targeting ICP at Enterpise Accounts.
Results
+200% Increase in sales pipeline
+200% Increase in Talent sign-up flow conversions
Series B Funding of $25M in 2023
Testimonial
Mark Chaffey, CEO at Hackajob
“Dale played a key role in the leadership team during his time at hackajob. His ability to blend strategic insight with a compelling product roadmap ensures his team provides true business value and would be an asset to any business. His high intelligence and passion for understanding the dynamics in the wider industry means the value he provides is often far greater than just within the product function.”