Cocoonfxmedia is a small business based out of Lichfield, Staffordshire. The digital marketing business offers web design, web development, search engine optimisation and social media expertise.
Reasons to celebrate
June 2015 is a very special month for Cocoonfxmedia as they celebrate their 5th birthday, this is a great milestone for the business. Cocoonfxmedia opened their digital doors on 16th June 2010, despite being in a competitive market and establishing the business during the recession, the company are achieving great success with over 100% growth in both profit and size.
There’s also been great success for Managing Partner James Blackman, who has been elected as vice president of Lichfield and Tamworth Chamber of Commerce Trade and Industry.
There’s a lot to celebrate in Lichfield at the moment, so how exactly have the business achieved this success in 5 years? Cocoonfxmedia have a unique but effective philosophy when it comes to working with their clients.
It’s all in the name
The name does have a meaning and a metaphor. A cocoon is a casing which enables the process of transformation of a caterpillar into a butterfly. This reflects their philosophy in how they approach the needs of their clients. Cocoonfxmedia take your ideas and visions and through collaboration they transform them into the desired product – a butterfly.
‘Working with our clients is a partnership’
Cocoonfxmedia strongly believe they are an extension to their clients business, they are keen to understand how their customers think and work with them to achieve their goals. James Blackman states:
“We see our clients as partners and therefore treat their business like ours. Often we radically improve the way our clients present themselves online.”
Protecting the business
It was reported in 2014; more than half of new UK businesses do not survive beyond 5 years*. How have Cocoonfxmedia protected their business from financial risk?
James Blackman regularly uses Experian Business Express to credit check clients before they enter into a contract with them so their cash flow isn’t put under any pressure.
Not only does this give him peace of mind that the company he is doing business with is creditworthy but it ensures good cash flow for the future, by minimising any risk against any bad debts. The fact that the credit report can be generated online also means that he can determine the credit worthiness of a potential customer in an instant.
“In our industry often design and online activity is something which isn’t important and left as the last invoice to be paid. We use Experian Business Express to check the size and also their credit rating to see if they fit into the way we work. The reports help us have a better financial understanding of our clients, it reduces our credit risk as we only give credit to clients who can afford the appropriate budgets set.”
The system is also useful when it comes to checking the company’s own credit report if they need to apply for credit themselves elsewhere or how they are perceived by other businesses.
“It’s critical that our score remains high, it shows that we are a safe bet to leave your business with us, if our credit rating is strong it means we should be financially sound”.
*RSA Research 2014