iProspect x MYOB - Unlocking SME Swagger with the real O.G.

The Challenge

Small and Medium-sized Enterprises (SMEs) represent 97% of the workforce and 35% of Australia’s GDP. However, 2023's heightened interest rates, stubborn inflation, and weakened consumer demand meant that, sadly, almost 400,000 Australian businesses exited the economy. SMEs needed some support that would give them back their swagger.   

Business management software solutions to manage cashflow and mitigate these threats are essential - and this booming industry is now worth over $7.5b AUD (+4.3% YOY).    

As the category ‘O.G.’ in business management software, MYOB's brand awareness was enviably high. But the misconception that it was an accountancy-only solution was weakening consideration and sign-ups.   

New competition on the streets was attracting SMEs to the breadth of what their platform could offer - even though MYOB offered the same benefits, if not more.    

We needed to set the record straight by improving comprehension and consideration of the MYOB offering amongst SMEs – keeping them thriving with the ‘real O.G!’

The Solution

With 2.5m Australian SMEs and a limited budget, we focused on high-potential segments rather than trying to reach everyone. Using MYOB’s 1m+ customer data and iProspect’s survey of 14,000 Australians, we built the MYOB OG Audience Platform - an atlas of SME needs, media habits, and behaviours covering 70% of Australian SMEs. 

Beyond established SMEs, we targeted fresh & upcoming SMEs, aspiring entrepreneurs, and individuals likely to start an SME within 12 months. Two key insights made them ideal: 

• More receptive to new tech solutions. 
• More open to switching software than established SMEs. 

Our strategy was to engage these segments, boost understanding of the Real OG, and unlock their confidence to grow. The translation of this data into marketing tactics was what set our campaign apart:   

• Timings: Intent modelling revealed low-competition periods aligned with SME intent - prime windows for cut-through. 
• Location: Postcode-level mapping identified high-opportunity areas with low MYOB penetration for targeted media. 
• Media Touchpoints: Media Mix Modelling pinpointed channels with strong ROI, enabling a mix focused on attentive reach. 
• Content: Dynamic OOH creative adapted across 334 AU/NZ screens, with countdowns for urgency. Neuro-analysis optimised future creative performance. 
• Partnerships: Authenticity drove consideration via trusted podcasts like Fear & Greed and She’s on the Money, delivering solutions through credible voices. 

Results

This comprehensive, data-informed approach effectively allowed us to reach the right people, at the right time, with the right message, without spending top-dollar.   

The five-month campaign smashed expectations across the funnel: 

• Perception Shift: +9% increase in SMEs recognising MYOB as more than accounting. 
• Consideration: +31% growth among new audiences. 
• Engagement: Website sessions surged by 187%. 
• Action: Sign-ups exceeded targets by 12%. 

Beyond these wins, brand-building efforts drove: 

• 37% reduction in customer acquisition costs. 
• 70% drop in search incremental acquisition cost thanks to stronger brand equity. 

MYOB didn’t just regain its swagger - it proved how smart data and bold creativity can supercharge growth. The real O.G. is back, and SMEs are thriving.