Before Crawford launched Cramer in the U.S., the company was a $12M U.K.-based startup in the operations support systems (OSS) space.
Challenge: Debut a tiny unknown player, then go head-to-head with the U.S.’s largest entrenched OSS player during one of the most difficult moments in telecom industry history — the tech bust of 2001. It was a time when large U.S. communications companies cut IT spending and smaller competitive players vanished altogether.
Cramer had a contrarian business strategy: Make a strong impression in the U.S. market while other OSS competitors stepped back and nursed their wounds. Cramer’s long term goal: Knock the incumbent off its throne, then take Cramer public or sell it for big bucks.
Cramer had a great story. Their target clients — telecommunications companies — faced a major problem: As new convergent services became complex, so did the process of tracking the network inventory essential to creating and delivering new offerings. High order fallout rates fueled customer dissatisfaction, rising attrition, and lost revenue. Cramer’s value proposition was that the inventory is the network: If a network asset doesn’t show up in the inventory, a carrier can’t sell it.
Cramer had the perfect solution: A truly unique inventory management product that mapped all network assets and ensured fast, accurate service provisioning and fulfillment, regardless of service complexity. Cramer provided the full picture of network inventory, continuously updated. Equally important from the carrier’s viewpoint, Cramer’s product was a “technology agnostic” COTS (commercial off-the-shelf) solution that readily integrated with legacy systems long in place within back offices. There was no need for telecom companies to jettison older systems in which they’d invested $billions. Cramer could work with what they had, making older OSS more effective and efficient.
Crawford decided on a three-part PR strategy: Draw industry analysts to our side, consistently win the industry’s most prestigious awards, and leverage these accolades into strong press coverage where Cramer controlled the debate.
We set the launch date for mid-May at SuperComm, then the telecom sector’s largest trade show. In advance of the launch, Crawford targeted the leading industry analysts for briefings with Cramer’s executives: OSS Observer, The Yankee Group, Gartner and IDC. We advanced the launch announcement to key trades and national press. We helped draft the nomination form for the “Best New Inventory Management Product” honor awarded annually by Billing and OSS World Magazine. When the show opened, Cramer garnered 17 major hits — positive analyst reviews, extensive trade coverage, and a front page business section hit in their U.S. office’s hometown newspaper, The Washington Post. Two weeks later, when Billing World convened its trade show, Cramer won the award for “Best New Inventory Management Product.”
In the months and years that followed, Crawford continued this strategy: analyst briefings, story advances and exclusives, and a stream of successful awards nominations (best product, best company, best customer deployment). The plan worked so well in North America that Cramer asked Crawford to take over EMEA PR.
Cramer loved new ideas, too. One, master-minded by IT marketing consultant Rick Berzle, worked particularly well: holding “OSS Leadership Forums” hosted by a prominent analyst for 10 invitation-only clients and prospects and selected members of the media. Each forum was a pure think tank session where customers, even those who competed with one another, freely aired their problems and discussed solutions. No selling allowed — just networking. It didn’t matter that Cramer was the smallest company at the table — the ability to pull together the industry’s leading minds showed Cramer was “big” in a more important way: vision. Cramer’s OSS Leadership Forums proved so popular that they always went into overtime, and participants kept the conversation going long after the fact.
With analyst support, awards, leadership forums and non-stop media coverage, a funny thing happened. Cramer took the cover and the lead in industry trend stories. The market leader — with 7X Cramer’s revenue — was relegated to the position of commenting on what Cramer was doing.
Reaching over $100M in revenue by 2006, Cramer caught the eye of leading IT companies that saw the value of adding a comprehensive service delivery and fulfillment solution to their portfolio. When Cramer’s senior executives met with these companies, they could almost hear the wheels grinding in other IT leaders’ minds: “Why didn’t we buy Cramer when it was tiny?”
In March 2006, Cramer debuted its last product release and six new IT partners at press conferences in New York and London. We all knew what this event was: a beauty pageant for potential buyers. Three months later, Amdocs bought Cramer for US$370M.
Telephony credited Cramer’s PR machine for this coup and “a very healthy acquisition price.” No surprise. Crawford had done it before for the U.K.’s Geneva Technologies, using PR to help fuel their acquisition for $690M.