About the project
REDspace is a well-regarded software engineering company from New Brunswick, Canada that specialises in building broadcasting technologies. They are trusted by the best because of their high calibre engineering team of over 250 staff and their excellent traction in North America with top tier clients, such as Viacom and Warner.
REDspace did not have any presence in the competitive European market and this was a strategic growth priority for the business. Our challenge was to establish a differentiated proposition to present REDspace to the leading broadcasters and telcos in Europe, in addition to exploring routes to market that are less saturated by domestic competitors.
How OCO Global Supported:
OCO developed a comprehensive European market strategy report for REDspace, prioritising the markets that contain the most opportunities, both in terms of total value and ease of access. In terms of routes to market, OCO suggested both traditional and non-traditional partners and customers that REDspace had not considered. This included sports associations and high-growth content generating start-ups that generate original, regular and highly popular content but lack multiple distribution channels. This advice was well-received
by the client and a long list of targets was developed across 3 priority strategic markets namely the Benelux, UK and Germany.
OCO carefully identified 50 companies that represented strong targets for REDSpace, that were in the process of expanding their technology service offer to customers or were experiencing exponential growth. To date we have secured 10 meetings with c-level leaders from leading international broadcasters, telecommunications companies and technology partners based in the UK and the Benelux. From these meetings, REDspace has had 4 company follow-ups to progress partnership discussions and is confident they will sign their first commercial agreement in the Europe within the next few months.
REDSpace has since contracted OCO to be its European market sales representative for 12 months, reinforcing its confidence in our local market and sector specialists to grow this strategic market.
The OCO team has proved a valuable partner. They very quickly understood our value proposition and goals, and helped us map out a clear plan designed to dive deep and generate actionable learnings. The early phases of our engagement identified tactical focus areas by country, industry and channel. We were able to test our message with some target clients and partners, and have been encouraged by initial conversations. We have an excellent foundation to build upon, and have in fact chosen to retain the OCO team into next year to help us execute on our shared plan. They have helped us accelerate our diversification strategy, and I have personally enjoyed working with the team.
Mike Johnston – CEO and Founder REDspace