New Smart Services Solution Development & Strategy
A well known electronic sensing, test and measurement product organization was looking to better understand the customer adoption and competitive environment for a proposed new smart services offering.
Being uncharted territory for them, our team worked closely with their business leaders, technologists, and services management to understand user needs, solution packaging, price points as well as alternative technologies to help develop their business case and market-entry strategy.
Our Process and Outcomes
Initially our team analyzed existing business case, conducted research to augment and extend internal findings: related to better understanding the consumers’ needs, buying behaviors and competitive landscape. Once we were able to level set, our team of consultants facilitated working sessions with customers and ecosystem constituents to validate discoveries and extend / clarify our clients view into the market by proxy; contributed to better understanding of adoption drivers as well as appropriate revenue model design. From here, we worked with the team and developed go-to-market and ecosystem and alliance strategy that leveraged our clients’ competitive advantages and helped them develop strategic channel partnerships with complimentary players and content development sourcing to support new solution services. At this point, it was about driving buy-in with leadership. We then led a workshop to align senior management with this ‘adjusted’ reality and open their eyes to solutions that better fit their customers environment and tools for the internal organization to better support new growth business.
Impacts for the Client
As a team, we determined that by redesigning their existing products, they could easily develop a data-management service that would not only meet their clients’ relevant needs, but provide increased value-add for their products. Also, by leveraging our client relationship, we were able to identify key channel partnerships that would allow our client to build closer relationships with their end-users and ensure long-term success. In conversations with our client following the engagement, we also came to realize that our work helped to build greater shared understanding and communication across seemingly disparate internal functions within the client organization – which enabled less finger pointing and higher trust.