Building a Compelling Value Proposition for a New Customer Segment
A global technology software and services company changed its product development, marketing, and sales practices to drive growth in a priority customer segment, dramatically improve marketing efficiency and effectively creating demand.
Overview:
A global technology software and services company had a leading share position in the enterprise and consumer segments for their two flagship offerings; however, they had failed to effectively penetrate the small business segment. The company was frustrated because they had developed offerings specifically named to attract this segment and had invested significant amounts in marketing and partnerships to grow their presence in this space, to no avail. As a result, they struggled with a high degree of waste in their marketing investments, a higher overall cost structure, and slow overall growth rates.
Our Approach:
We teamed with the company to develop its value proposition and its offerings to the small business owner/manager. We conducted a comprehensive assessment of how the small business owner fulfills his/her technology needs today, combined with an operational/offering assessment to determine the opportunity area for our client. We uncovered several critical perception deficits, as well as several issues that were directly contributing to the client’s limited ability to capitalize upon their market position in similar segments. The actions we identified resulted in the development of new/customized offerings for the segment, a redefinition of their sales/pricing practices, and a dramatic change to their partner programs targeting this segment. The client shifted its resources and organizational focus to align behind the value proposition and accelerated it growth rate to three times the historical rates for this segment over a 5-year span, achieving a position of market leadership.
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