Moving into Adjacencies with Technology and Business Model Innovations
Innovated the business model and created new highly profitable offerings using deep insights into customer needs and non-traditional market segmentation. Opened the door to new highy profitable revenue streams from the core technology.
Pioneering a new business model to expand profit margins
A core company technology was rapidly commoditizing resulting in diminishing profit margins. We pioneered expansion of the technology into an adjacent space. Leveraging core capabilities to design a technology upgrade and implementing a new business model resulted in an offering with significantly increased profit margins.
Developing deep customer insights resulted in design of new profitable offerings
Working with the internal global marketing and R&D team we engaged with customers in adjacent market segments. By applying our “Voice of the Customer” methodology, the team identified key challenges that could be solved with the company’s existing technology. By using non-traditional market segmentation methods allowed the company to focus its efforts on segments where the value of the company’s technology could be maximized.
Developing deep insight into the customer’s needs allowed the team to design a new business model which maximized value to the customer and enabled higher profitability for the company. These insights were also beneficial in optimizing the value pricing in various geographic regions.
Connecting with global technology partners increased speed to market
Leveraging a broad network of partners accelerated the rapid prototype test program, critical to establishing the company’s credibility in the new segments, and established regional channel strategies and key partnerships.
New growth platforms
The company launched several new growth platforms that pioneered the new business model in one of the company’s large divisions. This opened the opportunity to generate new revenue streams and higher profits from the company’s core technology.