Should you acquire a company to accelerate growth?

https://www.youtube.com/watch?v=DqImahm6euo

"Acquiring a service you want to offer helps your company leapfrog years of trial and error." – Sam Shepler, Founder of Testimonial Hero

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I welcome back Sam Shepler, Founder of Testimonial Hero, a global video testimonial company that helps B2B SaaS companies close more deals through customer stories. 

After a quick recap on what Testimonial Hero does (listen to episode 55 for part one), we get into the topic of acquisitions. Testimonial Hero recently acquired a company named Case Study Buddy that, just as the name suggests, provides written customer content like case studies. 

Sam’s clients kept asking for case studies and written content as a service, and the fastest path to offering that at the level of quality Testimonial Hero’s clients expected was to acquire a shop that already knew the ropes. 

Beyond the acquisition, we also cover topics like productizing services, sales processes, and leadership lessons.

We discuss:

• Testimonial Hero’s latest acquisition of Case Study Buddy.

• The evolution from video-only to various forms of customer content.

• The various types of customer content Testimonial Hero offers.

• Agency sales challenges and how to navigate them.

Actionable key takeaways for agency founders:

• Customer testimonials accelerate sales cycles because they build trust.

• Challenge your preconceived notions as a leader so as not to miss out on business opportunities.

• Successful M&A calls for the right timing, alignment, and mutual respect, so start building relationships early on.

• For mentorship, seek out advice from people at a level you want to reach next, people who are several years but not decades ahead of you.

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Best,

CQ

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Frequently Asked Questions

Why did Testimonial Hero acquire Case Study Buddy instead of building written content services in-house?

Because clients kept asking for case studies and written content, and acquiring a shop that already knew the ropes was the fastest path to offering that service at the quality level clients expected.

What does it mean that "acquiring a service leapfrogs years of trial and error"?

Building a new service line from scratch usually means working through mistakes and learning curves over time. Acquiring a company that's already mastered that service skips much of that process entirely.

Why do customer testimonials accelerate sales cycles?

Because they build trust faster than other forms of marketing. A prospect responds to proof from other customers in a way that speeds up their own decision-making process.

What does successful M&A actually require, according to this conversation?

The right timing, alignment, and mutual respect between the parties involved. Building relationships early on, well before any formal acquisition conversation, is part of what makes a deal come together smoothly.

What kind of mentor is recommended for agency founders seeking guidance?

Someone several years, but not decades, ahead of where the founder currently is. That gap keeps the advice relevant and applicable to the founder's actual next stage of growth.