For 11 years, RealPractice Inc. grew steadily to more than $3 million in annual revenues by providing technology and services to large law firms. Along the way, the Santa Ana, California, firm landed $10 million in venture capital. While the company's growth was consistent, it was not on a track that most investors desire.
"We had a good product that addresses a need, and the need was there, but it wasn't the kind of growth our investors wanted," says Carey Ransom, chief executive.
So the company made a few changes.
First, they overhauled the management team. Second, they broadened services they provide to law firms, particularly smaller firms and solo practices, to include marketing and client acquisition services and technology.
Using a trade show and social media, RealPractice created a huge buzz for its new services. It grew its Twitter, Facebook, and LinkedIn followers by hundreds, generated hundreds of sales leads, and increased revenue by over 80% per month on the new business to a multi-million dollar product line.
Read the complete case study to learn how they did it.
Want to read more? Become a Premium Member to access this content, and get all Premium Member benefits:
Expand your RainToday access with Premium Membership