We worked with a President of a Business Unit who managed complex technology solutions. While this business unit was the market leader in their product area, and they were growing their business at 15-20% CAGR, there were signs of their business starting to erode. Through some discussions with customers in their market they realized that their competition was growing with higher rates and that while their competitors were half their size, they were catching up.
|Figure it Out and Get it Done. Action:
Acrelic team members confirmed the data and developed actionable strategies and tactics. Through customer and competitor research, a rating and ranking of customers priorities and needs were created and an assessment was made to establish how Acrelic’s customer could differentiate itself based upon its perceived strengths (by the market) and leverage that to start winning faster.
Acrelic facilitated the assessment process along with the management team of the business unit, conducted the market and competitor research, created draft solution profiles to be used by marketing, and drafted scripts for sales people to utilize when prospecting.
Summary of Findings:
- The client company was growing at 5-25% below its nearest competitors
- The sales force was spread thin and not able to cover an expanded territory
- There were two growing sub segments that were found to be growing at double the overall growth rate
- The number of channel partners and the volume of solutions moving through channel partners was below average.
- The client established several initiatives to change their product positioning and expand the use of channels to reach their customers based upon this effort.