Value proposition in action and at scale
80+ %
over expected growth
1000’s
of customer’s impacted
1
new product portfolio line created
Situation
Situation Customer in the Video management technology space at a 1000+ people company providing physical and software products with services into several industries and verticals. However, one product line has been suffering from a misfit between customer market expectation and the product with services. The misfit is a challenge that results in different sub-challenges such as internal misalignment, dropping sales and shrinking profits, dissatisfied customers, overloaded customer services. Another challenge was transforming from a cost-plus pricing as the insights and deep specific knowledge into the market needs was absent or very limited.
Approach
The approach was to establish a focus on the commercial product vision for the product and services, tied to the business model and value proposition design and matched with the company growth and profit ambitions. To identify the market fit the approach was to work cross functional and expertise in a workshop setting. The teams worked by testing out, and de-risking the value proposition and business model in a continues learn-measure-build sprint environment.
Results
Benefits
- 80% growth over budget.
- Secured product-market-fit of the product and service offering
- Data based decision making for price list changes (a step towards value-based pricing)
- A product roadmap addressing key pain points to be solved withing 1-3 years
- A comprehensive play book to secure value proposition establishment at scale.
Transformation of a declining product business into a growth business that went over the budget expected.
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