Context
A large Dutch investment company sold their retail hearing aid activities in Europe due to the expected disruption in the traditional model. Furthermore, they acquired a start-up in the hearing aid industry in the US, recognizing its disruptive potential.
Goal
Scale the acquired company successfully and make it profitable.
Approach
- Focus on improving processes, scalability of marketing and sales, and achieving profitability.
- Emphasis on online presence, including insourcing website development, expanding email marketing, and leveraging scalable marketing channels like Facebook.
- Implement cost measures, such as shutting down non-profitable channels and downsizing the call center.
- Formation of a new management team with millennials, incorporating internal promotions, and creating a more efficient organization.
Results
- Achieved breakeven in six months through revenue growth and cost measures.
- Significant improvement in organizational effectiveness.
- 40% growth in online sales.
- Enhanced profitability and successful transition to the next phase of the company.
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