Hudgell's pending acquisition of Rapid Solicitors would effectively double their turnover and staff, so the stakes were high.
Digital, TV and offline marketing spend in Hudgell's sector is significant and so are the volumes of new enquiries, so it was critical for Hudgell to understand how effectively Rapid Solicitors managed their new customer journey, from the initial touch point through to client engagement. Hudgell engaged us to do Commercial Due Diligence, with a specific focus on identifying potential areas for profit leakage in the new enquiry journey:
We interviewed a representative sample of Rapid Solicitor's new clients with personal injury and complex medical negligence claims. For each client, we forensically analysed every touchpoint in their customer journey from visiting the website through to engagement. We scored Rapid between 1 (low) and 5 (high) on the propensity to engage. See illustration below:
* A satisfaction score of 3 or below in any of the above touch points increases the probability of losing the enquiry and leaking profit.
Hudgell were better able to understand what they were about to buy. Our commercial due diligence informed their price negotiation and also helped Hudgell to map out the acquisition integration risks and priorities in the first 90 days post-transaction.