Featured Case Study

Digital due diligence for global graphic resource business

Palladium was asked to investigate the defensibility of a stock imagery business and the importance the freemium business model has in creating a moat and network effects.


Our approach

  • Visualised the flywheel effect of the freemium business model and the impact different levers have on network effects​

  • Identified key drivers of success and the defensibility of them

  • Deep dive into the four SEO pillars and their link to the rare flywheel effect​

  • Analysed the performance of unit economics (LTV/CAC) and the implications they have on the marketing budget and profitable growth​

  • Analysed the feasibility of new customer acquisition targets, and whether it is possible to achieve them if the paid channel is not economically viable

  • Analysed team capabilities and gaps


  • Key findings & results

  • Validated the strong digital performance that allows the business to compete with much more established competitors​

  • Identified that the business plan has unrealistic assumptions about the role paid marketing can play in achieving profitable growth​

  • Summarised recommendations for the business to achieve its full potential


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