The Governance, Risk and Compliance (GRC) practice at a large accounting firm had acquired a number of smaller firms to help them increase their share of the Internal Audit market. The acquiring firm correctly assumed that the new partners would bring their old book of business with them when they merged. But the acquiring firm's faith that their new partners would be adept at expanding beyond their personal networks, and generating new business, was distinctly unfounded.
The new partners, for example, had difficulty expanding their networks geographically, because margin pressures that resulted from price competition limited discretionary travel. And while participation in events and conferences presented viable opportunities to generate new leads, there simply weren't enough of them to support the revenue objectives. Making matters worse, the company's marketing efforts were ineffective in attracting interest or generating leads.
One of the acquired companies, however, had been using LeadGen.com for many years to find new business. Expanding the program to the group as a whole resulted in over 60% of the practice's revenues being derived from the program.