Acquisition project | Zoho- ManageEngine

Introduction

ManageEngine, an IT division of Zoho Corp, crafts the industry’s broadest suite of IT management software. It has everything you need — more than 120 products and free tools — to manage all of your IT operations, from networks and servers to applications, service desk, Active Directory, security, desktops, and mobile devices. For this project, I have selected one of the products of ManageEngine, Site24x7, a SaaS based full-stack observability platform for DevOps and IT operations team.

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Is Site24x7 ready for acquisition?

Adoption

Site24x7 is a market leader in the end-to-end IT Monitoring category. There are about 13000+ actively paying customers for Site24x7 and there has been adoption by well known enterprises and MNCs like SAP labs, Godaddy and Aditya Birla group.

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Copies and organic search results:

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Using the product

The review and ratings across leading listicles are as follows:

Capterra: 4.7/5 (274 ratings)

Gartner: 4.7/5 (95 ratings)

G2: 4.6/5 (254 ratings)

getapp: 4.7/5 (234 ratings)

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Aha moment

Customers feel great about Site24x7's full-stack IT monitoring capability from a single window, swanky dashboards, ease of use and value for money.

Here are some of the top reviews from customers across different review sites:

"After a lot of research, my team and I found Site24x7 to be the best solution for monitoring our suite of software and infrastructure. The tools are easy to use, and there is coverage for all of our technologies."

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"Site24x7 - ITAM with ease"

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"Best Monitoring tool for IT infrastructure"

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Willingness to pay

With the ever-increasing IT landscape, demand for IT infrastructure monitoring is increasing specially in regions like APAC and Middle-east, customers are willing to pay up to 30% of their infrastructure cost to achieve higher uptime of their websites, servers and reduce mean time to resolution(MTTR).

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Especially in a country like India, increase in internet first companies has led businesses to focus more on DevSecOps and achieve greater observability through tools like Site24x7.

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What do customers brag about?

The brag moment is not there much with overseas customers. On the other hand, Indian customers brag about Site24x7 being a product of Zoho, which is homegrown in India.

ICP Profiles​

The Following analysis is made after speaking with the customers of Site24x7:

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Why there is a need for ICP?

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In spite of being a mature stage company, still there is apprehension by customers to use Site24x7 as the brand discovery is meager compared to its competitors. The pricing of Site24x7 is 30 percent lower than its competitors, businesses are open to go premium when it comes to IT monitoring. Businesses in this segment have a belief that "Inexpensive means less metrics". Whereas, existing customers of Site24x7 are boasting about value for money, custom dashboards alongside sufficient metrics, logs and traces, and ease of use. This is where I felt the strong need for ICP for Site24x7.

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ICP Prioritisation:

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Competitor research:

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Market size: ​

PS: Above figures are taken from analyst/research firms. Top-down/bottom-up had too many assumptions.

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Core value prop

Site24x7-> Monitor your entire IT stack at an affordable cost

Job to be done (JTBD) on acquisition

Here is JTBD of an IT leader in a large enterprise:

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Acquisition channel

The top two channels that are working well for Site24x7 are organic search and partners. The problem I look forward to solving is product discovery and acquiring high value/quality customers.

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Organic search:

Considering the complexity of the product and multiple modules within the product, I have considered top keywords/use cases that are performing average but need to worked upon to generate more content around these keywords to rank in top spots and acquire more customers from organic channel.

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Site24x7's customer acquisition breakup is about 33 percent from organic channels, 33 percent from paid advertising and the rest from partners/events. I believe, if the organic search channel is doubled up across products and if content is created around the above-mentioned topics, Site24x7 would be able to solve the problem of Product discovery, achieve a flat CAC line and acquire large deals in IT monitoring space.

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Partner Design:

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Site24x7 partners with distributors, resellers, managed service providers (MSPs), consultants, and technology partners to offer its all-in-one monitoring capabilities. In regions like APAC, there are regional partners who take solutions to potential customers, and in regions like LATAM partners attend the local tech summits and roadshows to promote Site24x7.

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Customer touch points where they experience AHA moment: Custom Dashboard, Anomaly detection and product integration. Let us consider a scenario here where wants to have a look at his CPU utilisation for servers located in EU locations. When he/she tries to do that, he creates the dashboard from custom dashboard option. While doing this, he/she gets an alert for anomaly in Berlin location. He/she opens in and acknowledges the anomaly. As soon as he acknowledges the anomaly, the product integration lets him/her create a ticket on Jira/Servicenow to work on the anomaly. The anomaly is worked by the support engineer and the ticket is resolved. Now the customer is able to achieve faster MTTR and increase his uptime. This is the AHA moment.

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Here is a snapshot of the Partner Program for Site24x7:

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This partner program will lead to acquiring new customers who are of high value in geography where language is a barrier. To enable regional partners, regional language websites can be created and promoted through organic search in those regions. This will solve the problem of product discovery and people not knowing about Site24x7 in regions like LATAM, Far-east and Middle-east. This will also ensure the CAC is low and LTV is high.

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