Increased marketing effort should strengthen exMon's position in foreign markets.

 

Over the past 10 years, Expectus has developed the exMon software solution, which help organisations prevent revenue leaks, reduce unnecessary costs, and ensure data quality in business systems.

exMon has achieved great results in Iceland and more than 60 of Iceland's largest companies have implemented exMon to improve their operations. This success in the domestic market and the first steps abroad convinced us that the ability to ensure data quality and manage master data effectively and cost-efficient should be available to a larger market.

The exMon team - six people standing together

The aim of this project was to create a marketing infrastructure for exMon. This included an examination of competing products and potential Nordic partners. The results of the project includes a new website, https://exmon.com , and new promotional slides for potential customers. We have linked the website to a marketing solution that ensures follow-up with those who show interest in the product and increases the chances that we can turn interest into business.

COVID-19 had a considerable negative effect on the project early in the project, as it was not possible to travel to foreign markets. But at the same time, opportunities arose where both the need for exMon increased and customers were more open to have online meetings. Instead of visiting the Nordic countries, we increased our focus on finding and supporting partners within these markets. The results of this work exceed expectations, as customers in the Nordic countries have already started using exMon and more companies across Europe have decided to implement exMon.

The year 2021 will build on this success and continue to support partners in selling exMon in their markets. In January, an article will be published in the Danish media about our partner, Fortytwo Analytics', success in implementing exMon together with their clients. We will follow this up with a marketing and sales campaign.

It is a considerable risk to embark on such a large project and the year 2020 underlines how important it is to have good sponsors. The strength of the Technology Development Fund is invaluable in taking the leap from serving only the domestic market to having a stable software company with foreign income.

 

The project was supported by Rannís' Technology Development Fund


Project name: Foreign marketing campaign exMon

Project manager: Gunnar Steinn Magnússon

Beneficiary: Expectus Software

Type of concentration: Market concentration

Number of grant years: 1

Amount of grant: ISK 10.000,000 ≈ 64,000 EURO

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