How to Integrate a New Product Acquisition? vania
FXall, a leading institutional foreign exchange platform, wanted to expand its presence in the active trading forex market. The acquisition of LavaFX was undertaken to broaden its market leadership. The goal was to successfully integrate the brands and retain existing customers who would be approached by competitors. Ultimately the focus was on expanding FXall’s market share within a new client segment (hedge funds and proprietary trading firms) to change the company’s overall positioning.
Create integrated branding under Aggregator name
Communicate acquisition value proposition to all external stakeholders (current and prospective customers of both companies, media, industry analysts, investors, strategic partners)
Manage internal communications and integration to minimize staff turnover and disruption
Develop sale outreach and engagement program to support client retention
Design powerful advertising and media outreach to communicate the benefits
Redesign the website to present integrated capabilities
The simplified product naming structure and brand architecture designed by Lenore maximized limited budget and created targeted marketing efforts. Updates to the website, product collateral and sales presentations by client segment presented clear messaging around broader new product capabilities and effectively conveyed the company’s leadership position, increasing client retention and new business opportunities.
Successfully repositioned the business in new client segment
Won 34 FX industry awards over 6 years and changed market perception for leadership on key regulatory issues
Increased average daily trading volume to $98.6 billion in June 2012 from $15 billion in 2008
Retained most staff and minimized account losses to competitors
Increased media coverage 50% including Tier-1 publications like the Wall Street Journal, Financial Times and Dow Jones
“I had the pleasure of working with Lenore on a number of significant business initiatives. She was instrumental in developing FXall’s strategic messaging, clarifying our values and managing marketing and communications to all our stakeholders for our acquisition of LavaFX, successful IPO on the NYSE and subsequent acquisition by Thomson Reuters. Lenore is a consummate professional and a highly collaborative partner. I would not hesitate to work with her again or recommend her to anyone looking to differentiate their business from the competition.”
Phil Weisberg, Managing Director, Global Head of Foreign Exchange, Thomson Reuters (formerly CEO of FXall)