The marketing Start-Up Dynamic Yield successfully opened their office in Germany with help of Consultinghouse

The Client

Dynamic Yield, founded in 2011, is a marketing personalization Start-Up Company. The company’s AI-powered omnichannel personalization engine helps marketers increase revenue by automatically personalizing each customer interaction across the web, mobile web, mobile apps and email.

The company’s advanced customer segmentation engine uses machine learning to build actionable customer segments in real time, enabling marketers to take instant action via personalization, recommendations, automatic optimization & real-time messaging – in a single platform.

Dynamic Yield personalizes the experiences of more than 600 million users globally and counts industry leaders like IKEA, URBN Brands, Ocado, and Stitch Fix among its many customers. Based in New York, the company has more than 180 employees in six offices worldwide.

In 2018 the company was named a Leader in Gartner’s 2018 Magic Quadrant for Personalization Engines and has raised a total of $45 million to date.

Business Challenge

Dynamic Yield is a renowned Customer Analytics Startup company that operates from several locations around the world. The locations include the United States, Israel, Singapore, the UK, Russia and Spain. Dynamic Yield offer several customer analytics services such as customer segmentation, marketing campaign analytics, Personalization and A/B testing.

Dynamic Yield decided to establish a presence in Germany, which is arguably the most sought after business economy in Europe. Germany offers a firm and favorable economy from which Dynamic Yield can establish a notable presence.

In entering the German market, Dynamic Yield needed to properly understand the business climate and market characteristics. They needed a smooth and seamless entry into the German market space that would enable them attract top partners and clients. The startup also needed to consolidate operations from across all of its other locations in Europe and the world. The correct marketing and business strategies, as well as pricing model that would favor the company in the German market had to be well determined before it dived into the market. Briefly, the main challenges can be summarized as follows:

  1. How does Dynamic Yield ensure a smooth and efficient entry into the German market?
  2. How does Dynamic Yield attract top partners and clients in Germany?
  3. How does Dynamic Yield consolidate operations from across its various other locations?

How We Helped

We at Consultinghouse implemented the following solutions for Dynamic Yield in order to solve its challenges:

  • Close support by the project team: We at Consultinghouse offered close support to Dynamic yield for all of their projects in the country. This meant that they always had someone who understood the market and the customers every step of the way. We provided support with determining potential partners and clients in Germany. With this, Dynamic Yield could ask the right questions and had someone by their side to quell any misconceptions.
  • Transparent and Efficient approach throughout the market entry process: The market entry process was very transparent and efficient. Here we use the standard, which we developed over the years, and our integrity and reputation. This was no different in working with such an remarkable start up as Dynamic Yield. We took a transparent approach to their market entry process, regularly providing them information and feedback about our progress status.
  • Complete project management by Consultinghouse: Consultinghouse managed the entire projects from start to finish. This meant that Dynamic Yield did not have to bother themselves about the complexity or unfamiliarity of any project in Germany. Consultinghouse managed every single project and produced great deliveries for each milestone.
  • Fast, Efficient and Smooth Implementation in the start-up process: One of the major challenges for Dynamic Yield was ensuring a speedy and efficient delivery of the startup process. We at Consultinghouse ensured that we hit every milestone accordingly to our timeline in the most effective and efficient manner. In our quest for speed, we also ensured quality was not sacrificed as this is a common pitfall for many other consulting firms.
  • Taking over the entire accounting for Germany office and operations: We took over the entire accounting operations for Dynamic Yield’s operations in Germany. We understand the requirements by regulatory organizations in Germany and ensured that Dynamic Yield’s accounts satisfied every single regulatory requirements.
  • Coordination between Germany, USA and Israel accounting department: Another major challenge for Dynamic Yield was the consolidation of accounts between its various operational locations. We helped achieving this by creating a simple and efficient workflow between all locations. This workflow ensured that the exchange of accounting information and the updating of such information was achievable.
  • Providing Reports and Data with 24/7 access: We always love to communicate with our clients and provide them progress reports. We did this with Dynamic yield, regularly providing reports and data visualizations via our own developed virtual platform - "MyDashboard". Access to this platform was guaranteed 24/7, ensuring we kept Dynamic Yield abreast of every information concerning their operations in Germany.

 

 

The Outcome

  • Freedom to Focus on Core Business: A major benefit for Dynamic Yield was the freedom to focus on their core business offerings to clients. The whole backend and operational bottlenecks were abstracted and taken off their shoulders by Consultinghouse. This ensured Dynamic Yield had enough time to focus on providing their new clients with their cutting edge customer analytics and personalization solutions.
  • Familiar, Friendly and Close working atmosphere: When entering a new market, many businesses always feel unfamiliar with partners and new clients. However, with our excellent project management and support, we ensured that there was a friendly and close working environment between Dynamic Yield and their partners. We work like family!
  • Fast response time: Our regular reports and speedy implementation of startup process for Dynamic Yield ensured that they provided their solutions with a fast response time.
  • Very Efficient Processes: Consultinghouse assumed all the risks and operational logjams associated with entering the German market. Our smooth background work ensures that Dynamic Yield can get their business up and running immediately; as well as scale as the need arises. With all of this, Dynamic Yield is able to offer very efficient and seamless solutions to their clients. Coming into a new market is not an easy process. At Consultinghouse, we understand the various hitches that may be faced when businesses are looking to expand to the German market. Our experience and expertise ensures that we provide the best services to clients. Dynamic Yield is one such client. With Consultinghouse, Dynamic Yield has been able to successfully expand into Germany without any setbacks.

For more information about Dynamic Yield, please visit www.dynamicyield.com

To learn more about Consultinghouse and how we can add value to your business and company please contact us today at info@consultinghouse.eu  or Telephone +49 6181 250 334


Copyright Consultinghouse 2017
*All services offered on this website are provided by Consultinghouse A.M.C. Int GmbH and are exclusively carried out under § 6 Nr.3-4 of the German tax adviser direction code. Consultinghouse provides management consulting as well as services with regard to accounting of current business activities, the generation of payslips, as well as the registration for payroll tax. For tax or legal services please contact our cooperation partner www.counselhouse.eu.