Concept Test-Based Go-to-Market Strategy Delivers Growth
The following case study describes use of the Breakthrough Innovation Hub™ to develop a go-to-market strategy for a Fortune 100 company to grow their business.
A small set of concepts was defined from interviews. Testing the value of these concepts would allow for upgrades before commercialization to improve marketplace success. A successful launch of the company’s new product(s) and/or service(s) would increase both share and profitability.
The Results
Our Tool: Breakthrough Innovation Hub™
Our Approach: Analysis
What We Did: Growth Strategy
Understanding which customers valued different sets of experiences enabled
- 20% increase in share of a specific market segment
- Improved efficiency of marketing to attract profitable customers. Learning the messages and promotions that motivate desired behaviors avoided funding ineffective campaigns.
- Greater retention of profitable customers. Customers purchased additional products and services that more effectively addressed their needs.
- Needs assessment to
- Identify segments that had higher value for their offering. Resources were leveraged for greatest profitability.
- Discover services that were more valued by the attractive segments and potential revenue generators.
- Redefinition of customer perceptions and satisfaction metrics. Learnings generated a new set of importance and satisfaction attributes.
- Identification of potential new products and services. Evaluation resulted in development of new offerings with competitive differentiation.
