Category: news

Brandon Burns from RunwayHQ sat down with InSite Logic founder and entrepreneur David Stewart! Having spent the better part of 40 years in the digital, print and software industry, David talks about what has contributed to his ability to be successful in multiple companies and how having good mentors is key!

From building and exiting a business, creating and successfully growing print magazines, to pivoting to a new business born out of a problem experienced first hand. David is a true entrepreneur and someone who understands the challenges with starting up.

A RISING Geelong analytics company will develop a sales presence around Australia after a planned $6 million capital injection.

Insite Logic has started talking to investors as it sets about selling about 40 per cent of the company to fund the ­expansion.

The company’s analytics program is used by property developers to extract information from website inter­actions to generate sales leads, tailor marketing and improve sales rates.

Founder David Stewart said about half of the capital raised would go to establishing sales and accounts offices with the investment also supporting the launch of a new product later in the year.

Insite Logic’s programming functions will be kept at its North Geelong base with jobs in that area expected to be ­created as sales grow.

Mr Stewart said Insite’s ­initial product, launched 2½ years ago, had captured 40 per cent of the Victorian market for land developments and it had followed up with another product for apartment developments, which had been used on 24 sites.

But the application has far wider potential than the property industry.

Mr Stewart, who recently sold out of his previous business which specialised in property advertising, said Insite Logic had proven its concept worked.

“We are using it in property at the moment, because that’s where we have come from,” he said.

But any business with an ­interactive website could use the system, which could be bolted on to any customer ­relation management system.

“We want to branch out to other investors — technology investors, investors that might come from a retail background — because the product will work there as well,” he said.

It was important for companies to build databases to communicate with customers, particularly millennials who researched most of their major purchases online, Mr Stewart said.

“The interesting thing with millennials, they are great ­researchers but they are bad verbal communicators, they don’t like talking to sales people,” he said. “They know what they want, they just want to be able to go and buy it.”

He said Insite’s program, which worked with company databases, helped identity when people were ready to buy.

Insite Logic employs nine people but has space for 30 staff. It intends to have completed its investment process this month or next and would welcome interest from Geelong investors.

[Source: Insite Logic to develop sales presence around Australia : By Dave Cairns for http://www.geelongadvertiser.com.au/]

Insite Logic — an analytics company — has been in Geelong for two years, during which it has expanded to a team of nine workers bringing in about $100,000 in revenue each month.

Founder David Stewart said the business had grown faster than he thought it would from the heart of Geelong’s tech hub — the Federal Mills Park.

“Our office is in the Federal wool mills, where basically the smart city is beginning,” Mr Stewart said.

“We’ve got an office in here now and already there are quite a few companies there.

“LiveTiles is coming to Geelong in the next 12 months with 500 employees — and it’s just going to grow exponentially from there.”

Premier Daniel Andrews announced in November that Melbourne-born tech giant LiveTiles would establish its new global innovation centre and Asia-Pacific headquarters in Geelong.

The announcement was a major coup for Geelong, with about 500 new jobs heading to the city’s growing tech sector — as it moves away from traditional manufacturing jobs.

“Geelong is still about making things, but some of those things change,” Mr Andrews said at the time.

“If we can take this next step around tech, then that’s all the better for young people in the Geelong economy.

“This can be a leading community and a leading economy, not just locally, but it can draw people from across Victoria, benefiting all of us”.

[Source: Insite Logic an early adopter in Geelong’s growing reputation as a smart city : By Harrison Tippet for http://www.geelongadvertiser.com.au/]

Undertake test-and-learn initiatives and dare to take risks. Map out the year’s objectives. Quickly become indispensable to critical business partners. Embrace new technology (or go the way of Kodak). Improve the digital experience for customers. 

These were just some of the recommendations yielded by our first “Let’s Talk…” feature for 2018, which posed the following question to two dozen thought leaders…

“How can businesses shake off the holiday cobwebs and kick off the year with a bang?”

Read on for further guidance from this week’s Let’s talk…” lineup:

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David Stewart, Managing Director, InSite Logic: “The New Year often provides new opportunities, especially for the growing businesses.

“If possible identify your prospect opportunities late in the previous year so you can start new at the beginning of the new year. A good start would be clients you have recently been unsuccessful with, providing new offerings or opportunity and a fresh approach. Then target clients you do not already have a relationship with, provide brand and product information and contact directly. The new year is amazing how businesses use to refocus and look at new opportunities, potentially including your product.

“Your existing clients also cannot be forgotten, keep the relationship strong and see if there is opportunity to grow that account as well. Connecting with existing and offering new exciting products or options is also an opportunity to grow your business, as well as ensuring continual business.”

[To read more insights from other featured thought leaders, read the full article by James Harkness at Let’s Talk… 2018]

InSite Logic, which built a website interaction insights engine for the property sector, looks to expand its customer base with Web-based marketing platform

A home-grown vendor supporting the property development sector with website interaction data has set its cap at mid-tier brands in the travel, insurance, telco and banking space after building a Web-based platform offering.

InSite Logic is the brainchild of David Stewart, who earned his marketing stripes working for Melbourne-based Ivy Street, a specialist digital agency in the property and land development sector. InSite’s marketing solution, which first launched as an internal offering to agency clients in 2015 and was extended to the apartment space in March this year, unites Web-based customer insights with a company’s CRM data to help brands better understand and nurture prospects.

The idea for InSite came as far back as 2009 and the GFC, when the property market began moving from print-based to digital-based marketing, Stewart told CMO. At the same time, there was a shift in core prospects from gen X to millennial buyers, who exhibited markedly different buying behaviour.

“Historically, prospects would search for a list then go to those property partners face to face,” Stewart said. “Millennials on the other hand, are researchers, and predominantly do things on the Internet. They’ll research apartments in Richmond for instance, and get the same 10 projects I would. But they’ll then look more in-depth into developers and developments, and gravitate towards those developers with information.”

In addition, millennials rarely visit a physical sales office and when they do, they’re much better informed and more advanced in the buying cycle. This shift saw Ivy Street building interactive websites for property players to supply the more in-depth information younger prospects were looking for.

“We started developing insights and looking at things like increases in Web traffic,” Stewart continued. “Plus, if that prospect is registered on the site, you can monitor and track their behaviour and show sales agents what they look at, how often they visit the site, and rate their experience on the website through the algorithm we’ve created.

“It’s all about nurturing a prospect.”

Enter InSite Logic, which Stewart claimed is now chalking up more than $100,000 in monthly revenue and supporting more than 40 projects. InSite works with agencies on one side, and property and land development clients on the other, to put tracking on sites as well as digital campaign collateral, such as EDMs.

“If a prospect registers, we know what they are looking at, who they are, what they’re doing,” Stewart claimed, adding it can also tell what documents they download and compiles site registrations as leads for sales teams. “This allows sales agents to identify who the people are that they should be talking to, but also what they’re looking at.

“Our solution then integrates with the CRM at that sales agency and becomes a workflow solution for them.”

InSite also tracks adwords and other property sites to identify where every source of incoming traffic is coming from. “Then we match with if they registered, then if they buy,” Stewart explained. “Interestingly, what we have found is the average buyer has 3.2 points of contact before a purchase.”

While real estate agents are the next obvious cab off the rank, other industries now in InSite’s sights include travel, health, education and insurance. Stewart said discussions are already underway with a large health insurance provider with 600 franchises across Australia, as well as a well-known travel company.

InSite is arguably up for a fight, facing a convoluted and dynamic martech and adtech landscape with upwards of 5000 technology providers of all shapes and sizes, according to this year’s Scott Brinker lumascape.

To help support expansion efforts, Stewart is planning an information memorandum in February 2018 to raise further capital.

He positioned the product as one for those looking to connect their marketing automation effort with campaign interaction. The sweet spot is tier-two or three companies that can’t afford more established marketing automation platforms such as Oracle Eloqua, Salesforce Pardot and Marketo. Eighty per cent of the property industry, for example, would fit into this category, Stewart said.

He claimed InSite’s point of difference is linking all forms of CRM data to website interaction and activity monitoring. As an example, Stewart pointed to existing client, Moremac Property Group, which has six residential development projects with InSite.

“Different sales agents work on different projects around Melbourne. We monitor every one of those these, provide details on each, but then link all six together, so when the CEO wants to look at how all six projects are going, he can compare them to each other in terms of inquiries, sales, average size block and cost,” he said.

“It’s all automated with the different CRMs used by his sales agents. And that CEO is getting up to date information on his business.”

[Source: Aussie vendor pitches digital interaction platform as marketing automation for mid-tier companies : By Nadia Cameron for https://www.cmo.com.au]