Development of sound customer-facing strategy begins with actionable analytics. Successful implementation begins in the strategy development process.
Strategies to meet a newly identified customer need, make a competitive response, take advantage of a new market opportunity or address an organizational effectiveness issue are all strengthed by analytics which quantify and qualify the opportunity. Too often analytics play a limited, or no, role in strategy development.
This occurs for one or more reasons:
- It is unclear what analytics would best inform the strategy
- The underlying data necessary to do the identified analytics doesn’t exist . . . or people think it doesn’t
- The organization doesn’t have the skills or the capacity to execute the analytics
- Once completed, the experience to turn customer intelligence into strategy and action doesn't exist
We work with clients on one or more complementary paths during the Facilitate and Implement phase of a Strategy and Analytics engagement. We can:
Define and execute a set of analytics to inform the specific strategy being developed
- Develop a starting point analytic plan which is the basis for brainstorming and buy-in
- Work with internal resources, or identify outside resources, to execute the plan agreed
- Interpret the results and present them in a workshop setting where understanding is established, implications for the strategy are identified and actions and accountabilities are defined
- Identify the measures that will be used to evaluate the success of the strategy and the process to be used to refine and modify it
Serve as an extension of the client’s staff
- Provide ongoing analytic support, or
- Act as a bridge, providing support for analytic projects and deliverables as an internal capability is built
Help build an internal capability to support strategy with customer analytics on an ongoing basis.
- Facilitate the development of the necessary business processes
- Identify the skills necessary
- Assess internal skill base and determine enhancement opportunities
- Define organization and management structure alternatives
- Develop an implementation plan for the new organization
- Assist in implementing the plan
Customer, Prospect and Marketplace Analytics: Key to New Market Entry
The U.S. unit of a European-based multi-national corporation had had good success with their products in a narrowly defined market space. Those products, however, had particular and important benefits in other markets.
Penetrating new vertical markets with products and services that have been successful in other markets can be particularly challenging. In addition to the strategic, positioning and market-specific product enhancement challenges, the issue of what customers and prospects to target, and in what sequence, is critical.
Working with a partner who was driving strategy development, we defined an analytic plan designed to quantify and dimensionalize the market opportunity and the targeting strategy. We were charged with executing the plan. Specifically, we:
- Sourced the necessary data to execute the plan both from within the client’s systems and from outside sources
- Built the analytic dataset and generated the data which formed the foundation for the analysis we did
- Identified key findings and the market and business implications of those finidngs
- Developed the market potential estimates and model
- Jointly presented the analytic results, which were fully integrated with the strategy recommendations, with the partner to the executive management team
The analytics and potential model demonstrated where opportunities for substantial growth in high market share “traditional” markets existed, as well as sized and identified specifically where opportunities in new markets existed. The plan for strategy implementation was executed and generated results consistent with the analytics and potential identified.
Implementing Information-Driven Strategy