Purple Wave Transforming the Way Sellers Reach Buyers by Harnessing the Power of Tableau
In January 2020, Icimo was acquired by Cherry Bekaert.
Purple Wave, the largest no-reserve internet auction firm in the country, specializes in construction and agricultural equipment.
As the nation’s largest no-reserve internet auction firm specializing in construction and agricultural equipment, Purple Wave is focused on transforming the way in which sellers reach buyers to turn their assets into cash.
Founded in 2000, Purple Wave was among the first companies to use the power of the Internet to streamline the corporate auction process. This early vision led to rapid growth and success, and Purple Wave was widely regarded as a trusted online destination that brought corporate sellers and buyers together.
“Simply put, Icimo Analytics helped us define where and how we should be in business.”
– David Brotton, VP, Marketing
As Purple Wave evolved, it had an opportunity to take advantage of the data it was collecting. After hearing Icimo Analytics CEO Bryce Gartner speak at a National Auctioneers Association event, Purple Wave engaged Icimo Analytics to develop a business intelligence strategy. The insights gained were striking from the beginning.
A Course For The Future
“In many ways, we were trying to be everything to everyone,” said David Brotton, Vice President of Marketing. “In other words, our focus was broad and we were facilitating auctions for virtually any item a business wished to buy or sell. Without the benefit of a sophisticated business intelligence platform, we did not have a full understanding of what segments of the auction industry we were serving best, and which segments were most profitable to us.
“That early insight into segments from Icimo Analytics helped Purple Wave to refocus our business on the construction and ag markets, and that is where we stand today. Simply put, Icimo Analytics helped us narrowly define where and how we should be in business.”
According to David, data that used to take weeks, months or even years to acquire is now available to management in a matter of minutes, allowing for quick and informed decisions about critical business issues.
Data Directs Strategy
As Purple Wave began to refocus on specific segments, the continued insight gleaned from Icimo Analytics and Tableau shifted to a more targeted and strategic marketing effort. For an online business, data is seemingly limitless — if it can be accessed. From historical buying tendencies and product performance, to geographic trends and other factors, Purple Wave is now able to market to customers and prospects with the confidence of having access to accurate and actionable data.
“The return on our marketing investment has been significant,” David said. “For each marketing initiative we take on, not only are we connecting with a more fine-tuned and appropriate set of targets, but we are reaching them faster and more efficiently. Without a doubt, working with Icimo Analytics has had a significant impact on our bottom line.”
“Icimo Analytics has allowed us to do more with less,” David said. “It is invaluable to have a third-party strategic partner thinking about our specific business model and offering suggestions based on real data. We trust Icimo Analytics implicitly…they understand our business, our product, and what we are trying to accomplish more than any of our other partners.”
“We trust Icimo Analytics implicitly…they understand our business, our product, and what we are trying to accomplish more than any of our other partners.”
– David Brotton, VP, Marketing