Enero Group Limited (EGG.AX) Earnings Call Transcript

Good morning, everybody. And thank you for joining webinar -- sorry, thank you for joining Enero's investor webinar on performance marketing. Just a bit of housekeeping before I hand the mic across to Brent Scrimshaw. We will have a Q&A at the end of the presentation today. Please type in your questions as we go. I will moderate the Q&A at the end, and we'll try and cover off all of the questions that come through. Also, this is not a financial presentation. It's an operational and strategic presentation. So we'd appreciate it. We're not here to talk about numbers, but we're very much happy to talk through the businesses, give you an opportunity to ask management about how they see things and give you further insight into the Enero Group. So on that, I might hand across to Brent to take us through the initial part of the slide deck. Thanks, Brent.

Thanks, Ronn, and good morning, everyone, and thanks very much for joining the Enero Group Performance Marketing Webinar this morning here in Sydney. I'd like to start this morning just by acknowledging the traditional custodians of the land in which we work, the Gadigal people of the Eora Nation here in Sydney and pay our respects to their elders past, present and emerging. So I'll just take you through a brief agenda. Firstly, I'm going to provide just a high-level recap on Enero's growth strategy. I think most investors would have seen this before, but I think it sets great context for this morning's conversation. Then I'm going to introduce Heather Kernahan, who is the Global CEO of Hotwire, who will give you some context of that strategy around the transformation of the Hotwire Group. And then leading more specifically into an introduction to both ROI DNA and GetIT. And you'll have the opportunity to meet and ask questions of Matt and Anol, the CEOs of both of those businesses, as you know, that were acquired by Enero a few months ago now. Then as always, very keen to do some Q&A. So as Ronn mentioned, make sure you send some questions in, and we'll do our best to answer all of them. So in terms of today's presenters, obviously, myself. I am joined by Carla Webb-Sear, our Enero Global CFO here in Sydney. We've got Heather Kernahan, as I mentioned, Global CEO of Hotwire, who's dialing in this morning from London. So it's late at night in London. So thanks, Heather, for creating this space in your calendar otherwise at 1:00 in the morning. We've got Matt dialing in from San Francisco. And we've got Anol dialing in from Singapore. So I think the first thought for me here today is with such a great group of leaders within the Enero Group, but also a geographically diverse group of leaders, it's really truly representative now of the global business that Enero's built around the world. So today, it's about hearing directly from the leaders of each of those businesses with a deeper dive into Hotwire and also the recent additions of ROI DNA and GetIT and of course, more specifically, their unique performance marketing capabilities that they bring to the portfolio and within the B2B tech landscape. So as I mentioned, I'll start with a brief recap of the Enero Group strategy and just contextualize today's discussion. So if we move to the next slide, this, I think most will be familiar. It's the Enero Group's global operating model. And almost 2 years ago now, we reset the group strategy, and we did that against a clear operating framework, and this is our operating framework. And those of you who are familiar with it will know that we have a distinctive new vision powered by creativity and technology. We have a clear portfolio focus. And that focus really underpins that vision and it's built on delivering key client needs, specifically around brand transformation, around creativity, data and technology. So all of the tools in a modern marketer's toolbox, how are we providing really distinctive support and differentiated offering to clients that we work with around the world. Now in addition, we've continued to sharpen our focus on the group's resources against 3 priority verticals that you hear Carla and myself specifically always talk to. And we call them sometimes growth industries, they're industries in their own right that continue to experience strong growth. And we're focused against those 3 priority verticals because we think it's really important to capture the long-term growth opportunities within those industries, and we do that through our unique and differentiated offerings within our portfolio. And then lastly, our operating model is really underpinned by the global centers of excellence approach to our global functions. And that -- those global functions support and enable both efficiency, but more importantly, our best-in-class advisory to all of the brand leadership teams to Heather and her team, to Matt and his team and to other agency leaders within our portfolio around the world. So yes, it's about efficiency, but most importantly, how do we provide the best-in-class advisory and enable our leadership teams to focus on commercial opportunity. So if we move to Slide 6, which is our global operating model. Now our global strategy, I should say, is enabled through this clear strategic focus. And that focus is centered around building an integrated offering of the most relevant integrated marketing services that our clients need around the world today. Now to do that is one thing, but our unique point of view is really the combination of that with our deep vertical industry knowledge and expertise within each of those priority categories, again, in technology, healthcare and growth consumers. So it's not about one or the other. It's the combination of that integrated offering combined with really deep expertise within market that separates us from our competition. Now on the right-hand side of this slide, you'll see here how ROI DNA and GetIT deliver against the FY '23 to '25 strategy. And they do that through the provision of unique revenue generating performance marketing services that we're going to talk about this morning. And I will remind everybody that context is set uniquely within our focus on the B2B technology sector. So continuing to unlock this combination of relevant and differentiated services and that deep industry experience I mentioned a minute ago, we believe we'll continue to deliver really a unique positioning for our portfolio for each of our brands and provide that unique set of tools that are really relevant to a rapidly evolving marketing landscape today. Now turning to Slide 7. Now this slide really we've put together to provide a summary of both the ROI and GetIT transactions, consolidating all of the disclosures that we've made from the initial announcement back on July 1. So 3 key points here. I'd like to just draw your attention to the table within this slide that provides some further information on implied multiples for both of the initial transaction considerations and the potential maximum earn-out scenario. Now in addition, later this morning, Heather is going to provide some further breakdown of the acquisition's historical revenue contribution by entity over the last 5 years, and that will obviously reinforce our growth profile into the future. I should note, this slide also consolidates our disclosures and commentary about transaction funding assumptions over the period of the earn-out payable over the 3 years to September 2025. So a high-level recap around the Enero strategy or operating model, how that specifically relates to our strategy and how ROI DNA and GetIT fit into that strategy under the Hotwire Group and a little bit more information and commentary around the specific transactions from July 1. So with that, that's my brief Enero strategy recap. I'm going to introduce you now to Heather Kernahan, the Global CEO of Hotwire as I mentioned, who has stayed up very late for us tonight and coming to us out of London. So thanks for that, and over to you, Heather.

Great. Thank you, Brent. I am live in London late this evening or early in the morning, I'm not sure which one it is here. I'm normally based in San Francisco, though, and that's where I live with my family. I'm here in London for the next few weeks, seeing our clients and team and it's a really exciting tech center in the world. So happy to be talking to you tonight. I have been at Hotwire for 6 years for those who I haven't met before. And I joined Enero through an acquisition myself. I came through the acquisition of Eastwick, which was a U.S. tech PR agency, and that acquisition happened in 2016. So for the first 5 years, I was part of the team, I ran the Hotwire U.S. business. And in July 2021, I became the global CEO. Now prior to Eastwick, I spent about 15 years inside global tech companies and inside various start-ups, working in lots of different marketing positions. So I've been a client many times myself. Now Hotwire is a global tech communications consultancy, and it was founded more than 20 years ago here in London. Today, we are headquartered out of the San Francisco area, and we get a chance there to work really closely with the largest and the most exciting tech and innovation companies in the world. Most of our clients are in the cloud space they do digital transformation and digital technology projects, cybersecurity and enterprise technology. And as our clients continuously transform their businesses, so do we. And that's what I'm talking about today as Hotwire transformation. And we run the Hotwire business on a 3-year strategy. And in our most recently -- our most recent plan, we identified 2 key insights about Chief Marketing Officers, and that audience, the Chief Marketing Officer audience is one of our most important. So the first insight we got to was that Chief Marketing Officers are really struggling to manage their brand messaging consistently across communications and marketing channels. And when they can't manage the message effectively, it weakens the effectiveness of their campaigns. The second insight was that increasingly, CMOs are being asked to not only influence revenue, but they are asked to directly be responsible for revenue. As CMOs traditionally have been responsible for a reputation of a brand, and they've been responsible for building and maintaining important relationships for their companies. But having this direct revenue responsibility is new for most CMOs. So with these insights, we reviewed our own capabilities at Hotwire and saw that we had an opportunity to partner with Chief Marketing Officers to bring them high-value services that span their reputation needs, that span their relationship needs and an area of increasing responsibility revenue. So you'll see our reputation, relationship, revenue framework here. So when we came up with this opportunity, and it's right in front of us. We created a new vision for bringing value to our clients in the tech and innovation industries with this framework. So I want to tell you a bit more about the services that sit under each part of the framework. So reputation services. This has been an area of strength for Hotwire and one of our core capabilities since we were founded. So we partner with clients to build, evolve and help them protect their reputations. So that's services like communications and brand strategy, narrative development, thought leadership where we both develop messaging for thought leaders and help them execute about leadership campaigns. We do awareness building work. We manage crisis and issues and help our clients navigate through some of the toughest issues they face. We also work on ESG strategy and marketing. We also have a strong history of relationship services. So in that space, we help our clients identify, develop and nurture their most important relationships for their businesses. And that can include media and journalists, industry influencers, analysts, partners, employees, target prospects and customers. And then finally, our latest area of capability development are revenue services. So in this category, we have account-based marketing, digital strategy, content marketing, paid media, channel and alliances marketing and data and analytics. So our revenue services support pipeline building and revenue generation across target accounts with a data and digital first approach. And we're going to talk a lot about this over the next hour together. And you'll see the logos that we have over the relationship and revenue services area. And one of those is McDonald Butler, who we acquired in early 2021. They're a U.K.-based agency. They're now branded as Hotwire, but for explanation of our strategy, we've called them out here. So when we did that acquisition of McDonald Butler, we began delivering reputation, relationship and revenue services to Hotwire clients. And based on that success, we aimed at expanding those capabilities into the U.S., which is the largest growth region for Hotwire. As the same time as we were doing that, we also began building our strategy for Hotwire Asia Pacific. We know that we had to round out our global reach if we wanted to develop our own offices across key countries in the region. So with the addition of ROI DNA in the U.S. and GetIT marketing in Asia, we now have a highly differentiated global offer for our tech and innovation clients. We are bringing CMOs a solution that helps solve some of their biggest challenges. So you're going to get to hear from Matt, the Founder and CEO of ROI DNA, later and Anol, the CEO of GetIT. And they're going to tell you a lot more about their businesses. What I wanted to do here is just double-click on account-based marketing as this service is going to be highlighted later in their presentations, and it is a key offer under our revenue services. Now account-based marketing really simply described is the targeting of key accounts that will drive revenue for our company. And there's 3 tiers of account-based marketing we develop for our clients. One-to-one, which is when a company is marketing directly to a strategic account that is of incredible importance to them with a dedicated marketing campaign. There is one-to-few when a company is marketing to a grouping of companies that are usually high-value accounts that share similarities such as being in the same sector. And then the third one is one-to-many. It's when a company is marketing to a broader set of target audiences. But even with all these -- the 3 different tiers of account-based marketing programs, they all have the same goal, and that is to help our clients build their sales pipeline and convert leads into customers and customers into advocates. And within each of these programs, we run content and created campaigns aimed at converting and growing high-value accounts. And we can track it all through engagement -- sorry, we can track engagement throughout the buying cycle. So account-based marketing really is a modern approach that unites sales and marketing to achieve revenue targets. Now if we look at the next slide, which is showing the addition of ROI DNA and GetIT. Now combined as Hotwire Group, we have more than 500 professionals within our Hotwire global companies operating in 11 countries with 15 offices. Our partner network also continues to be a really important part of our business, and it helps us reach into more than 20 additional markets, get into local markets with our clients who need us to scale really quickly for them across reputation, relationship and revenue. Next, I wanted to talk about the complementary clients that we have and how we're seeing synergy together as a joined-up Hotwire group of companies. So when McDonald Butler joined us again back in early 2021, we were really quickly able to find synergies across our clients. What worked really well is that we both focused on the tech industry, McDonald Butler and Hotwire. But we had different clients. So we were able to bring reputation and relation services to McDonald Butler clients very quickly, but we were also able to introduce revenue services to Hotwire clients. So and then also in addition to bringing these differentiated services, we were able to offer a full set of reputation, relationship and revenue services to clients. So we started to pitch and win together as one team. And we see the same opportunity with ROI DNA and GetIT. Both companies work in the tech and innovation space, and you're going to get to see a list of their outstanding clients in a little bit. But there's a limited share client base right now. So we've already started working together to introduce services to each other's clients. So that looks like ROI DNA connecting their clients to Hotwire in Europe and GetIT in Asia. It also includes GetIT's clients being introduced to Australia team, the U.S. team and the European teams. And soon after we announced the acquisition, GetIT and Hotwire Australia, we're able to jointly pitch and win a new client together, you see that in the middle there. So to recap, we have multiple areas of synergy as we look ahead as one team. We've got cross-selling of -- into ROI DNA and GetIT of Hotwire services. We've got cross-selling of Hotwire clients into ROI DNA and GetIT. Plus, we have a new integrated offer with reputation relationship revenue to regional clients that we can sell. Plus, really exciting, we can now participate in global B2B marketing and ABM RFPs that previously none of us could access because we were individual smaller companies. But now that we are joined up, we have a truly unique offer in that space. Just to round out my section, I'll just talk about the change of mix in our services and growth trajectory with these acquisitions. There has been a marked change in our service mix. So now we see our revenue services for FY '22 the year just passed. We came in at 37% of our service mix in revenue services. And our reputation and relationship services at 63%. That still remains a core area of our business, but it's really exciting to see how quickly clients have asked for and started purchasing revenue services from us. You'll also see here the historic net revenue for MBA, ROI DNA and GetIT. So this has been converted to Enero fiscal years at an average exchange rate in those years but it gives you some perspective on the past growth trajectory of these businesses. And it's incredibly clear that B2B tech is a growth business with digital marketing market growing at 10% to 15% per year. So we put forward a vision for growth for Hotwire over the past few years, and we are filling in that vision, both in capabilities and geographic reach. I'm thrilled to work with Matt and Anol and their teams and I'm very happy to have them part of Hotwire Group as our transformation continues. So thank you, everyone. I'm now going to turn it over to Matt Quirie, who is the Founder and CEO of ROI DNA.

Thanks so much, Heather. Appreciate it. So thanks for your time. And I'm Matt Quirie, Founder of ROI DNA. I'll take you through a little bit about us and why we're excited about joining Enero and our partnership here. So this is our vision -- to be the best damn digital partner in the universe. And that means a partner to our clients, to their vision of whether they want to grow their companies, a partner to extend the sales and the effectiveness of their go-to-market strategies in B2B. And on to the next slide. One more, there we go. A little bit about us. So a leader in revenue acceleration services for B2B tech companies. We decided to do that about 5 years ago. We are 13 years into this journey, super focused on B2B and really helping companies achieve what is possible in the B2B landscape today. We're a top agency partner for Google, 6sense, Drift, Salesloft, Mutiny and more. We've got about 55 active clients at a given time. We've seen our net revenue for FY '22. We're 144 employees and our average client life cycle is 5-plus years and growing. We've been 13 years into this. Those are enterprise clients that stay with us through a myriad of services, which brings to the next. I'll tell you a little bit more on the next one about who we are as people. So I've been lucky enough to work with this awesome exec team who work close to 13 years in total, although 9 years total on this configuration each. My co-CEO, Michelle Harburn, former Bear, Stearns, HSBC, Symantec, we met when she was a client. She saw the opportunity and growth in the B2B spectrum and decided to join us as well too. So she drives the alignment and strategic offering, the vision for all the operations and the offerings together. Jeanenne Deorsey, CFO, worked with since almost the beginning of the company. The former E&Y and Director of Finance for Macromedia, the glue of finance that holds this whole thing together for us and to almost 12 years here working together. Ashley grew up here, in the Digital. She's had 13 years' experience in that. She has run everything in the HR department, started out here and her whole career through coming up to the EVP of People Ops. Myself, been lucky to work in digital for a long, long time. 15 years before ROI DNA and started this in 2009. I run the sales and marketing. And I drive the partnerships as well too, which you'll see on to the next slide. We'll talk more about those as we go. So what do we really do for business? And put it concretely, we transform their sales in digital. So we'll talk about old versus new approach. But if you can think about us, we're the inflection point for these companies and the growth hockey stick for many of the company's sales trajectory online digitally. So we're transferring from sales development reps and the sales department dialing for dollars going after kind of the same old leads, Salesforce is the only tool, thousands of leads sort of through without any kind of automation or priority. Now we're moving into -- keep back on that slide, it would be great. A fully automated tooling system. So we help our clients choose the tools to use in the SaaS infrastructure that allows our sales team to focus on key clients and clients with the most potential for growth. Automated conversational marketing intent data, which means that the programs we put in place will invoke to a sales development rep, "hey, there's someone on the site talk to them now versus maybe they came to the site". And then shifting the game from leads, which is quarter after quarter, most couple of years, how many leads do we get to how many accounts did we win, how many accounts are we actively engaged within in-market? On to the next. So -- and how we do this is really bespoke. We dive deep with our customers. And I think one thing is our average expertise on staff of 144 FTEs, is 10-plus years. We develop a go-to-market strategy that is very bespoke to them with the best in product core tool sets out there that we constantly refine. We make sure that they're persona based communication, which means that their communication is resonating with the customers they want to resonate with, that the customers coming potentially and understand what the value of their product is, the clients' product, the solutions they need to do for their business. We assess the tech stack that customers have, whether it be Salesforce, Salesloft, 6sense, Drift, I'll talk about those a little more in this presentation. And then we do everything from build the strategy, to implementation, to launch, to management and optimization and continually growing their sales arm. Which will bring us into the next. How we actually structure these services are in these 4 categories. So it's easy to digest in terms of kind of the pieces of the puzzle. We think of account-based marketing, which means that the marketing efforts that a company puts out is going towards closing that [ single dealer ] account. So that could be, hey, we want to close IBM this quarter for SaaS tool. Hey, we want to close Salesforce this quarter for a software-as-a-service tool. That account-based marketing scheme allows the companies to kind of transform what they're focused on and really report on an account-based kind of perspective when they come through. So we go through and look at the digital strategy of how these companies are communicating to the market of the value that their solution provides to potential customers. We'll go through and look at the company's marketing strategy, the information architecture, meaning how does that website kind of flow and line out? Do people expect what the next page flow is from a client perspective or not? Does the content match with the CTO or the CISO or the CFO is looking for when you want to sell them that? How is their nurture program going? When people do come into the funnel, how are we talking to that customer? And is it saying the same thing over and over again? Are we actually providing a nuance message specific to their company? Then we assess what tools they have in the martech stack, and I'll talk more about that in some of our partnerships, but we've got a best-in-class tool for each piece of the puzzle. And we're not big agents of change, we're big agents of, hey, let's utilize what you have but let's go deep if there's something missing, and let's really transform how you're going to market. And we always look for automation wherever possible. Once that strategy is in place when we go into the analytics, how do we track everything? How do we validate the key performance indicators for these businesses? Then once those things are really tied together, we know, okay, we've got strategy, we can track everything. Then we move into the digital media side. So we're running millions in paid media on a monthly basis, whether it's through Google. We're a top-tier Google premier partner, one of 3% globally. We're also one of the international growth program partners, one of 40 companies globally for Google. We'll use Google, we'll use LinkedIn, we'll use demand side platform, which is basically a fancy word for a display network that's really hyper targeted. We'll use LinkedIn. Whatever your next dollar is going to produce the best customer response and experience next is what we basically spend that next dollar on. And then we have design. We do about 25 major redesigns a year. If you want to look an example of that, drift.com or people.ai, two of the recent ones we've launched, which really takes websites to the next level, bringing really account-based marketing and that content and context experience into there. And then we've got engineering to round that out. Our revenue breakdown is about 60% retainers, 40% projects ongoing, and that brings to the next slide. Here's really the vision of kind of how we do this in a bespoke manner. So in the setup phase and kind of the kickoff phase with getting some of the business that we work for, we're reviewing their ecosystem, their capabilities, how their content matches, if it does or doesn't match, we're pointing out the holes in their go-to-market strategy that they currently have because they know they need help when they come to us. Then we're developing a new plan, a go-to-market strategy by which we're developing a paid media plan. So we might look at one company and say, this company is going to be 60% LinkedIn advertising and 20% retargeting and 10% Adwords, where this company is only 20% LinkedIn because it's maybe a smaller B2B generated company that goes after kind of like corporate customers. And most of the stuff is going to be Facebook advertising because those different types of B2B versus enterprise versus a small and medium business need a different type of targeting. We'll hit the target countless setup, segment those lists into tiers, whether it's enterprise, corporate, SMB, or it's enterprise per vertical, really break those segmentations up so that content that's going to those actual Adwords is specific to those customers. and then we'll set the analytics up, then we execute. So we go to market, we basically run all the paid media, optimize the strategy, optimize the experience for these customers. And then from there, once the execution is launched, it's continual test and scale. For a lot of our customers we scaled them. Malwarebytes is a great example. We'll talk about later, but I'll mention briefly here, we scaled them from $3 million ARR to $125 million ARR. They've been a client for 12 years. This can last a very long time. I mean, we have to continually produce. That's why we actually do stay an average of 5.5 plus years because we're continually producing results for the customers as a partner. And when you come on with us, the average typical delivery of increased conversion is about 25% to 40% in there. Some can go as high as 400% for web design. When you think about the conversion of the -- you're covering 25% of your traffic, if we redesigned the ABM, account marketing, you've got contextual relevance to why you're landing there, that can go a lot higher. Next slide. And our competitive differentiation. This is what we worked really hard on the last 13 years. Last 5 focus solely on B2B. We grew at that point by only inbound and still we're making a transition to the outbound marketing today. But we're focused so much on B2B tech, our reputation has grown out there. We've got deep cross-channel expertise. And it means that everything we do, like we'll have an SEM expert or Google Adwords expert, a LinkedIn expert, a display expert. On average, those experts have 10-plus years per subject matter experts. So when people work with us, they know we're working with the quality team that has been there done that. It's not a bunch of college kids and high margin. It is a bunch of really succinct people who have owned a number on their heads, who kick butt at what they do and enjoy doing it. The partnerships in winning platforms, we really partnered with the best of the best. Besides Enero, Hotwire and GetIT, we're really stoked about this because of the global capability between the 3 companies. Our external partnerships, which we're now sharing altogether, which is awesome. 6sense is the best and largest global ABM, account-based marketing tool in the market. They're a $6 billion company. We are their #1 agency of referral. We just basically sponsored a premier sponsor for their kickoff last week, which I'll talk to you about their sales annual. Drift, another -- probably the second biggest in the ABM platform market. We are also their top consulting referral. Salesloft, another Vista-backed venture, another multibillion dollar company. Again, one of their top referrals for implementing this go-to-market strategy. Google, top 3% of the Premier Partner program and also International Growth Program. So we're on only 42 companies who has internal Google access tools to basically go say, hey, your branded market should be in these 5 countries. Here's why, here's where the cost per acquisition you can win, here we can fight. Here's what the competition is doing. We've worked really hard to build these partnerships, and we're excited to extend those to the rest of the Enero team in partnership, which we'll do. Reputation-wise, Google has basically told us where the [indiscernible] is growing B2B in their portfolio of the companies we work with on enterprise. And we grew 100% at this point by inbound referral, which just means the good work in a team is our next reference. And so that's why we have such a seasoned 10-year plus win done on that team. How we did that was really the Culture. If you look on our website, which I'm sure you have, you can see our culture page. It's pretty upfront and forward. So we're market-leading in terms of DEIB Culture. I am the only exec male on the exec team. It's 75% female. The company itself is 80% female. We've been equal paying and an LGTBQ++ from the day one. Super important to us is Culture. We lead off with that in pitches. It really endures with the companies we want to work with. Significant investment training, offsites, personnel growth opportunities. We're tripling down with that, and that's an exciting area of growth for the entire company. And we've been fully flexible and remote. We've always had a work from home day. But in October 2020, we went fully remote with the offices. So we're in 29 states and now excited to be global with this awesome team. On to the next. A little bit about the work we do. So because we grew by referencing clients, every piece of work we've done has been the case at before our next piece of work. Really proud, I'll talk about some of the engagements here, proud of the team. Amazon, we've worked with that person at Amazon for 9 years through 3 separate companies. Malwarebytes has been a client for 12 years. Salesforce itself has been a client for 8.5 years. I'll talk about some of the engagements as well, too. So like Flexential and Elastic, we met because they were people who used Symantec. BetterCloud because that person uses the 2 other companies before. Aruba because another Symantec reference. And a bunch of these aren't here. 6sense reference in clients as well. So when we look to actually deliver what we're doing in account-based marketing, our clients are trusting us to build the strategy, bring it to market, execute and grow with them. For instance, we start off with Elastic, the middle top one here, a public company with just go-to-market strategy and really how are they going to use account-based marketing effectively. We've grown into running their -- all their paid media globally. We view constant engagements around the ideal client profiles when they redefine kind of what they're doing go-to-market. Amazon, one of the case studies we'll share in a bit, but we've grown with them over time from just doing assessment and go to market strategy to now running all of the acquisition for content syndication and paid media direct. FIS started out with just a little bit of ad spend that we're now basically starting to run global campaigns for them in Worldpay. And so really, people come to us to actually be that cornerstone for the team. It's really hard to beat us in paid media, really hard to beat us in account-based marketing strategy, SEO and website redesigns for ABX. Salesforce, for example, has been a client on and off for many different projects in terms of client for years in terms of the different types of projects. We've done everything from [ Run Digital ], which we run for the AppExchange and have for 8 years to help them out with their green ecological footprint basically annual they produce every year. Really, our clients kind of coming to us for the next thing over year, over year, over year. On to the next slide. Now this is one of our focus on. This just came out last week. So 6sense held their annual conference. It's the best and the biggest B2B digital conference out there in the United States. 700 director to VP to C-level people were there, digesting content, talking together, working out problems together, one of the most collaborative conferences we were a part of. We were the premier sponsor for that this year. We got to release this case study with one of our clients, BeyondTrust. BeyondTrust hired us for go-to-market strategy, like how are they talking to the [ ICPs ] and how they're going to gain more account-based marketing, digital advertising, search engine optimization, basically optimizing the keywords for Google to find any relevant search without paying for ad space. And then we use 6sense as a tool. And so the overall here is that generate 30% more high-intent leads. But if you go to the next slide, when you take into what we're doing on the next slide, I can show you, this is the net effect of us having the same budget year-over-year for this company. But being able to increase the effectiveness of that budget massively. And this is why we talk about being the best damn partner in the universe. We took that same spend and went 32% higher on intent lead. We're talking to the high-intent leads that much more. Also 55% increase in marketing-sourced pipeline, 27% increase in marketing-sourced deal size, that's huge. 28% in marketing in-sourced closed/won. And then this one is insane, 62% increase in marketing-sourced total bookings ACV. So we're increasing all points of the funnel, not just these are the high intent leads. But by doing that, you're increasing the conversion pipeline and marketing, you're increasing the annual contract value for those customers. And you're really solidifying the message. And what this takes is really a team of experts to come through and sit in the shoes of the client, of the clients' clients to be more specific. And like how do I digest the information that BeyondTrust is sending me to become a potential client? How am I resonating with that? Does that fit what I need as a problem as a company? And what we really help these customers do is shine and do that time and time again. On to the next slide. And this is what we want to have happen. So really, it's life-changing results from many of the clients. On our website, you'll see generous results, but we really are -- we become friends with our clients. They actually -- most clients who use us come back to the next job. It's been so good. And it's game-changing results for their teams and so much so that really paid media, most clients stay on indefinitely for that for us for a long time. And we were honest about. The true partnership means like, hey, we said, hey, you've got some great content people in here. We'll give you the strategy for the content. You write the content and then bring it back out to system, we're doing the advertising. And that type of partnership collaboration really embeds us within those cultures as well too. On to the next. So where is our momentum going? What are we doing? So we're going from not really being able to respond to global RFPs. We're going from just starting on the partnerships with Drift, 6sense and Google to -- and 100% inbound sales as well, too, in terms of all of the referral. And now with this great partnership with Heather and Anol and the rest of the Enero team, it's -- we're actually to get after global RFPs now. We're already extending our partnerships with Drift, 6sense, Salesloft across to all of the teams internationally. We're already looking at cross collaboration between the teams. Heather's team and my team just sat down just a little 2 weeks ago, and we basically are mapping out which clients need more SEO work. We can basically start working on and collaborating on that side, which clients need more AB, account-based marketing work. We're going to fully leverage the partnerships which we are doing globally now. So actually, the Hotwire team in the U.K. has meetings with 6sense and Drift coming up in person for the EMEA markets, which is awesome. And then we are actually really starting to turn up the volume. The 6sense conference, which was 700 of the most best account-based marketing people in the world in a conference at once, to -- we were the premier sponsor for that one, a lot of chatter, a lot of logo recognition of tons of conversations. And now we're starting building that content engine. So we have a CMO, and we have a full-on growth team working together. We've doubled the team size from the growth side, and we're doing outbound marketing now. So we started our own -- eat your own dog food. We started to own outbound marketing, and we've got a sales team to accelerate that growth, and we're doing that from outbound mechanisms, content generation out there, outreach to clients and targets we want to target. So our own account-based marketing for ourselves, also accelerating growth with our clients. We're exposing new offerings from our partnerships to our current clients as well as just growing our current client base. So that's about ROI DNA. Thank you for your time, and I'd like to introduce my partner in crime, Anol here as well from GetIT.

Thank you, Matt. Good morning, everyone. Thank you for having me here. GetIT is one of the most straightforward companies to describe. We provide marketing solution to B2B, IT and telco companies, that's 100% of our revenue. We don't work for baby food or jeans companies, just B2B, IT and telco. In the next slide, you will find some key highlights about GetIT. Headquartered in Singapore, we have presence in Malaysia, Japan and India. Although we started our journey in '97, we were a marketing strategy consultant firm for the first 10 years, which still remains a critical differentiator and revenue driver for us. We work with enterprise IT and telco clients and in most cases, with long-term relationship with panel agency on record contract. If we move to the next slide, you will see in terms of leadership team, the 3 of us, me, Asuthosh and Jaspreet are working together for almost 20 years. Asuthosh and I manage the key account management, growth of business, strategic advisory as well as the production management. The finance, legal, HR and all other side of the operation is handled by Jas. Now if you move to the next slide, if you want to categorize our services, we can put them into 3 buckets. The first one is the strategy consultancy, which includes go-to-market strategy, account-based marketing strategy and campaign planning with research and workshops. The next bucket will be campaign activation. That includes performance marketing, content marketing, martech and analytics and web development services and plus media management services, which we are collaborating with ROI DNA to increase that size of our market share. The last bucket, platform, which is a bunch of Software as a Service product we developed as a productization of some projects developed together with the analyst company, IDC. Now if we move to the next one, we stand apart from other agencies in Asia Pacific through our focus, expertise and domain knowledge of the B2B, IT and telco market. Footprints across the major cities in Asia and now through Hotwire in Australia, as well as Hotwire in the globally. In fact, we -- as Heather mentioned, we already won our first joint client in the first month after the acquisition within the July. So leveraging on our strategy consulting capabilities, we have established ourselves as a specialist in one-to-one account-based marketing. That is the key account which -- [ those ] our clients have to defend or have to acquire for companies such as AWS, Amazon Web Services, Google Cloud and Splunk. Other strategic advantage we have our competition is our content marketing team. We have a great content strategy team, all coming from tech journalism background from CIO.com to TechTarget, all the major publication, which gives us a unique advantage in the B2B IT domain where we can establish our domain knowledge compared to our competitors. Moving to the next slide, speaking about our clients. We work with the IT infrastructure providers, cloud providers, cybersecurity providers, system integrators and telco companies. For some companies, especially in telco, in country-based marketing, like for StarHub or Telekom Malaysia or Telkom Indonesia. But for the most of the campaigns we work on in APJ region, that is Asia Pacific and Japan. And now with collaboration with Hotwire and ROI DNA, we are able to take part on those global RFP, both Matt and Heather was talking about. Now many of our clients are working with us for an extended period of time, in some cases, more than 10 years. Like, for instance, StarHub or Orange Business Services. If we move to the next one, and that's the best way to describe what we do is through a recent case study. Telekom Malaysia case study is one of the most recent and complete representation of all of our services, almost all of our services. We were selected as a lead agency for the B2B business arm for Telekom Malaysia around 2020. And like all B2B business unit of any telco, TM One faced the same challenge. Brand awareness was not their issue, but the brand was synonymous with the broadband or mobile service provider, not any complex IT solutions like cloud or cybersecurity which they wanted to focus on going forward. Those are the high-margin projects. So we had to entirely reposition the brand, launch the cloud solution, redesign the website and drive the revenue pipeline for the -- especially for the key accounts within a very brief period of time. And how we did it in the next slide, you can see. We started with the discovery phase, where we conducted our desk research on the industry insights, the competitor insights and the key account insights. We use multiple tools and analyst reports. We have long-term partner with IDC, Forrester, Gartner. And we use those reports and use those tools to form our findings or discovery phase. Like in this case, we use a tool called Demand Metrics to determine the existing technology stack for our key target accounts, the key target accounts we are going to target. Now taking all those inside, going to the next slide, we crafted the strategic and go-to-market framework for launching the Telekom Malaysia cloud brand, which is Cloud Alpha. And if you go to the next slide, you'll see that we've created the complete brand experience starting from creative, the content, the website and launched a 360 degree marketing campaign in April 2021. Including, and if we move to the next slide, you will see the whole pipeline driving journey for the Telekom Malaysia cloud brand, which is Cloud Alpha, including the lead generation and nurturing with content marketing and funneling the qualified leads to the sales pipeline. But the most important thing is what we did, if you go to the next slide, you'll see that we connected all the data points. Every advertising platform from LinkedIn to Google to Facebook, the marketing automation platform, the CRM platform into a single data lake and created a dashboard from that representing a single source of truth where TM One management can find out the status of the end-to-end revenue pipeline in real time and any time they can log into the system and find this out. So as a result, within 9 months, next slide, you can see that we demonstrated the ROI, not only in soft metrics like content engagement or account engagement or newsletter opening and other things, we actually demonstrated the hard metrics like in case of revenue pipeline and revenue directly attributed to the marketing campaigns. So within 9 months, we generated almost MYR 50 million revenue and also created almost -- more than MYR 950 million in pipeline. So I hope this brief presentation gives you an overview of our business. If you have any question I'll be always here. So over to you, Brent.

Okay. Thanks, Anol. Thanks, Heather, and thanks, Matt. I'm going to let Ronn, I know we've got a number of questions that have come through this morning. So we appreciate that. And I'll throw it to Ronn, who's going to mediate and play the director and ask each of us some of the questions that we've seen come through on the platform this morning. So Ronn, over to you.

Thanks, Brent. [Operator Instructions] I might start with a question from Hayden Liu. Regarding Heather's presentation, regarding Slide 12 and the callout of cross-selling of capabilities between Hotwire, ROI and GetIT. What has feedback been so far around client appetite for additional marketing services and allocating a greater portion of their marketing budgets to Hotwire? And do you anticipate the growing share of wallet from existing or new clients, given the increased capabilities across Hotwire, ROI and GetIT?

Great question. We do see share of wallet increasing with clients along 2 trajectories. One is with services. So we're going to be able to sell revenue services now in different markets into Hotwire clients, but also geographic expansion with clients. Whereas before, we weren't able to work within our own network in Singapore, Japan, Malaysia or India. Now we have owned offices there with Anol's team on the ground. So we'll be able to more easily extend clients into new countries and regions where they wanted to work with us in the past, but they hadn't been able to. So we see growth in both ways and then also being able to go to market and get new logo wins as a result of this combined capability set.

And to add to that, one of the easy expansion stress is we had lots of more clients wanting to expand in EMEA. And now through Heather's team, we've got the awesome footprint in the ground there now, too.

Thanks, Heather. Thanks, Matt. Maybe just sticking with Heather, and then I'll try and rip up the questions for each of the presenters. And this is a crossover question for Brent and Heather from Andrew Johnston. It's on Culture. The businesses of Enero has acquired a management foundry owned by highly driven independent executives as we can see from today's presentations. How do you find the right mix between allowing independents to maintain the entrepreneurial spirit and bringing them into Enero's culture to maximize synergy?

Maybe I'll kick off here just from an Enero point of view because I think we get this question quite often. And my response is always the same. As per the question, Andrew, there are a lot of entrepreneurial, very successful seasoned leaders not just in terms of delivering financial results but also in terms of great leaders who create unique and distinctive and differentiated cultures. And our role at Enero here is to support those cultures. However, they may manifest themselves in the different businesses within our portfolio. So there is no one Enero culture. This is not a top-down sort of portfolio management business that we enforce consistency of culture in every market we operate around the world. There are clearly some fundamental values that bring us together and whether that be creativity or expertise, an ambitious view on the world, an ability to be collaborative and do the right thing and treat people as if we would like to be treated ourselves, all of those types of things are very consistent across the group. But in terms of the Hotwire culture or as Matt's spoken to a little this morning, say, the ROI DNA culture, well BMF here in Australia or Orchard, they all have very unique and specific things that make them distinctive and differentiated. And make them magnets for great talent to be attracted to work within each of those businesses. So that's the Enero sort of philosophy. And maybe I'll throw it to you, Heather, because I think you've obviously had experience too as coming from a business that was acquired, so pre Enero, a business that was acquired by Enero and now beyond an earn-out for a number of years now building a culture globally that involves a number of different businesses that you're bringing together around the world.

Yes. Well, my experience before being acquired by Enero is that we spent quite a lot of time talking about values and whether we had shared values. And that was the same process we went through with Matt and Anol in a lot of conversations leading up to the deal being closed. What are those values? And do we have a shared outlook in terms of what the opportunity is together? And I think it's that extra time that we spent really making sure there was alignment will be key to the success, and it certainly was when Eastwick was acquired and Barbara Bates and I came into the Enero Group, we felt like we were bought in on what the opportunity was together. And I love that I'm still here and a great future ahead, and I feel the same with Matt and Anol. We've got some time, we will work together, but we're talking about plans even years down the road, things we can do together. And we've really aligned on the shared opportunity around reputation, relationship, revenue. That was a big part of us coming together as we all saw that at a very distinct opportunity that nobody else had available in the market. They have pieces of it, but they weren't putting it all together like we have the vision for. And so now our work is to make sure that we can take that out to every tech and innovation company that we're going to work with.

Yes. And what I might do also just to round that out, Matt, maybe I think you referenced in your presentation, your culture and values and some of the things that are -- have been really embedded in ROI's culture. So maybe just go there for a second and give us a taste of what that looks like because there's some pretty specific things that are pretty close to your heart and to our heart as part of the group.

Yes. I mean if you look at our website, it says bring your whole self, be inventive, do it right and no assholes. It's a pretty clear statement of who we want to work with in basis in business. And I think one of the exciting parts about that is the reason we were so excited about this group Hotwire, about GetIT, about Enero was that ethos and spirit is there, too. We might have our own little different flavor on that. But in terms of an overall culture blend, everything is extremely similar. Obviously, any types of these, you need lots of different companies, and this was the one we chose because just that culture was going to basically lead to better relationships, better outcomes for the rest of us and better outcomes for clients.

Yes, I totally agree. And Anol, you have a business that's quite unique, Singapore, India, Malaysia and Japan. So not only creating a GetIT culture, and sorry, I know I'm turning into the interview here, I don't mean to do it, [indiscernible] a build and from a people perspective. You have a business that spans very different and unique geographic cultures as well as creating something unique and special around GetIT. So maybe just to provide some insight from your perspective.

Yes, absolutely. And all the branches of GetIT, Japan and India is -- couldn't be more different. So we are very very much comfortable with working from the different background and other things. But what both Matt and Heather said that aligning on the vision and aligning on the values, these are the 2 most important things. And that's the reason we joined Enero, right? The idea, the vision of Heather of reputation, relationship, revenue, that's the first thing, okay? The vision is absolutely -- it's an upside of that vision. And then the culture. Obviously, when we started talking, we love the people. Like we'll talk with you first, Brent, and then Heather, both of you like never made us feel like this is kind of we are the big guys and we are going to acquire you and crush you into our culture and bundle it up.

Okay.

So yes, absolutely. The culture is one of the biggest decision makers for us. So that's definitely worked out so far, and I'm glad we did it.

Excellent. Ronn?

Thanks, everybody. I might turn to some questions we've got that's coming for Matt, if I could. So the first one from [ Cameron ] is how -- it's a 2-part question. Since founding the business, can you provide us with any instrumental fallouts that saw the company and some of the long-term clients like Malwarebytes? And second, what were the drivers for the growth acceleration in FY '22?

Okay. So long-term clients, if you think about AWS Marketplace 3.5-plus years. Salesforce is a client for 8.5 plus years. Malwarebytes. There's many more. I mean, our average is 5.5. But enterprise clients spend a lot of time with us because once they start with us, it's really hard to beat us up in paid media. And it's really hard to beat us in partnership. I think back to the culture, we're transparent in how we provide the expertise, the knowledge, the tools, what we do with the tools. And that transparency and that partnership really allows itself to have long-term relationships. And that's where if you really look at the long term of our clients, even though 5.5 years to the average, if you probably took the individual at those enterprise places, it'd be longer because they hire us at their next place. And then the inflection point from that side and hopefully managed that part was really focusing on B2B and the partnerships, right? And we -- when we thought about 5 years ago, what do we want to be when we grow up, we're doing a lot of B2C and a lot of B2B inbound. But we saw an opportunity in the market. We -- at that point, Demandbase was one of our best partners. They're an account-based marketing platform, much like 6sense. 6sense is now the market industry leader. When Demandbase was failing our clients, we move over to 6sense. And then we looked at the ecosystem and said, okay, this is where we're going. We're going to just going to throw a stick in the ground. We're going to be the digital known B2B, ABM agency globally. And that really trusted partnerships, the execution in the market and how we're inflecting these businesses and the referrals. And that's what it has kind of like caught us in fire. And the trust, the same type of reliable trust we bring to our clients, we bring to our partnerships as well, too.

Thanks, Matt. A couple of questions from Hayden Liu. Could you speak to ROI's Google certification regarding the top agency recognition? And what that does to ROI and what's the significance behind it? And can you also provide what the competitive advantage for ROI is relative to competitors? Or maybe just talk about some of the additional opportunities for the business.

Yes, sure. So let's talk about Google first. So Google, we -- there's plenty of Premier Partners in Google. There's only a handful of partners in the International Growth Program, and there's less partners even in the B2B side. So because of our performance with our large clients and their ad spend, Google put us in that program, we didn't apply for it. And they gave us access to new resources. What that does from an advantage standpoint in the market, which is kind of tied to the secondary part of this, is it allows us to outpace where other agencies wouldn't have the knowledge of the expertise given Google will go in and say, hey, we'll do a 5-country assessment for you outside of what you're doing already for this client coming in and we can go in and say, their user experience in Germany is terrible. The one in France is better, the one in the U.S. is mediocre. Come back with that expertise from our own experts as well as from a backup from Google, then we can focus them on where their next ad dollars are going to be spent best. What it also gives us an advantage to the clients is, for instance, on the 20th, Google is hosting an exec conference for just the execs of our clients on the Google Flex, where we're getting a whole day with all the top people at Google that work in the ad side to give more insights into how to grow business globally. That's what we've really worked on from a relationship standpoint. And we're not the only one, but we're one of the few that actually have that much access.

The second question from Hayden Liu. With ROI now pursuing global RFPs wasn't previously able to, are you able to speak to how much larger the revenue opportunities are? And also, is the participation in global RFPs more so driven by increased capabilities across the group or increased scale?

I mean, I might jump in there, too. And maybe it's good for Heather for you just to recap around the connection point globally and some of the work that's going on there already and then Matt can speak to it from an ROI point of view as well. Because I think it's important to get the context of the global offering under the Hotwire Group and then obviously Matt's role as ROI and how that connects into other parts of the Hotwire Group to deliver on that global opportunity.

Sure. So I think what I'll enter the answer is around the previous situation, which is each of us individually were able to access regional RFPs or sometimes multi-country work because Hotwire is a multi-country company. But what we were not able to access individually were large RFPs in the B2B enterprise side. So now as a joined-up team, we've got a geographic reach with one team that we weren't able to -- that is new for all of us, so we can get the scale we can achieve for prospects that want to work with us. And then also the capability being joined up around reputation, relationship and revenue, that is a unique differentiator in those RFPs. So we're getting 2 advantages. And what we did was shortly after the acquisitions, we all got together in San Francisco with our leadership teams, and we have a...

That's after the acquisitions, too, right? Like that's would...

Yes, it was really fast. We've got people from all over the world into San Francisco, and we spent time figuring out how we're going to go to market as a team, how we're going to deliver for clients as a team and how we're going to grow the business together. So that investment was well worth spending a week together in a conference room sorting it out, and it really fast tracked us to be able to go after these big opportunities.