Challenges and Hurdles
Trengo has grown successfully to around €3m in revenue, an increase of more than 150% from last year. With over 1800 customers, of which 35% are from outside the Dutch market.
Growth to date has been based on feature selling, and there is an agreement in the business that it needs to move towards solution selling in order to be perceived as offering more value for customers.
This will require Trengo to adapt and requalify product/market-fit across different sectors and locations, and, in turn, develop a new pricing model. As Trengo looks to aggressively expand into new markets, there is work to be done to ensure the company is ready to scale and Trengo entered Compass with a solid position to progress its expansion planning and to begin its journey to becoming a truly global company.
Before vs after the programme
Before we applied, we didn’t really have a long term strategy on paper. We had no idea where to start so participating in Compass has given us the focus to work on our strategy, talk to our current investors and learn from experts on the programme. Along with our own activities, the research and advice received throughout Compass have speed and we now have expansion plans to kick off.