A 3-step methodology for repositioning a product or service

Transcript

1. A three-step methodology
   for repositioning a product
   or service: A case study
   Presentation by Ben Chant
   December 2019
   

   View Slide

2. PwC
   Contents
   1. The problem
   2. Approaching this with a 3 stage
   methodology
   3. How we applied this methodology to
   Software Assurance
   4. The results
   5. FAQs
   2
   

   View Slide

3. 1The problem - why
   was this proposition
   not resonating with its
   target audience?
   

   View Slide

4. PwC
   A three-step methodology for repositioning a product or service: A case study December 2019
   Proposition messaging not clear
   4
   

   View Slide

5. PwC
   A three-step methodology for repositioning a product or service: A case study December 2019
   Siloed go-to-market planning
   5
   Revenue
   targets
   Commercial
   objectives
   Client mapping
   

   View Slide

6. PwC
   A three-step methodology for repositioning a product or service: A case study December 2019
   Sales teams requiring
   information on buyer profiles
   and customer narrative
   Marketing unclear on BU
   objectives for campaigns
   Sales and marketing enablement
   6
   Point-in-time campaign
   activity without strategic
   planning
   ?
   

   View Slide

7. 2Using a different
   approach
   

   View Slide

8. PwC
   A three-step methodology for repositioning a product or service: A case study December 2019
   Product marketing life cycle
   8
   Market Insight
   Sales and Marketing Enablement
   Market-driven value
   propositions to help
   bring our people and
   clients closer together
   Go To Market planning
   

   View Slide

9. PwC │9
   Market insight
   1 Competitor analysis
   In-depth research into existing and
   new markets for selling your product or
   service, including reviewing current
   marketing metrics.
   2 SWOT analysis
   3 Market pricing
   4 Buyer profiling (Gains, pains and jobs)
   5 Use case definition (the only...that...for...with….)
   6 Key marketing metrics (page views, bounce rates, time spent, SEO)
   7 Analyst inquiries/research
   

   View Slide

10. PwC │10
    Go-to-market
    planning 1 Living breathing strategy document and plan of action for BU, sales
    and marketing
    The strategic and tactical planning for
    bringing a proposition to your target
    audience through the route-to-market
    with the biggest ROI
    2 Ties the marketing objectives to business objectives
    3 Outlines short-term and long-term deliverables for the business,
    sales and marketing
    4 Outlines the target audience
    5 Maps key value statements to relevant buyer communities and use
    cases
    6 Identifies key themes to focus on throughout the year
    

    View Slide

11. PwC │11
    Sales and Marketing
    enablement 1 Sales collateral mapped to buyer journey
    Providing sales teams with collateral,
    messaging and training to sell to their
    clients
    Providing marketing teams with
    collateral, messaging and campaign
    packs run marketing activity
    2 Proposition delivery roadmap
    3 Proposition/campaign packs
    4 Sales training
    5 RFI/RFP support
    6 Thought leadership
    

    View Slide

12. 3Applying this to the
    Software Assurance
    proposition
    

    View Slide

13. PwC UK Sales and Marketing
    Market insight
    13
    Reviewed feedback from clients
    and engagement leads
    Learned key market insights from
    engagements with research
    analysts
    ● The root problem being the culture between security and IT
    teams and quick-win solutions to help alleviate
    ● The ‘true buyer’ (CTO and CIO)
    ● We weren’t known as technically proficient
    ● Weren’t clear on what problem the proposition was solving
    ● Not all services under the ‘Software Assurance’ offering
    were relevant to the target audience
    ● Client’s weren’t ready to adopt the proposition’s technology
    capability
    Actions Outcome
    Researched what our competitors were
    doing to identify how we differ
    ● We could translate very technical insight into business
    priorities
    ● We had a security culture service that could add value to our
    software assurance service
    Reviewed digital marketing metrics such
    as time on page, page views, bounce
    rates SEO analysis
    ● Audience wasn’t spending much time on our pages
    ● Terminology like software assurance weren’t being used
    extensively and needed to bring in target those looking for
    broader risk compliance
    

    View Slide

14. PwC UK Sales and Marketing
    Go-to-market planning
    14
    Created a living, breathing go-to-market
    document
    Created a new portfolio name; from
    ‘Software Assurance’ to ‘Software
    Security & DevSecOps’
    ● More recognisable by the wider software
    security market
    ● Early to market positioning for
    DevSecOps
    ● Guided how to sell and market the
    proposition
    ● Allowed us to focus on 12 key accounts
    Actions Outcome
    Mapped out clear routes-to-market
    ● Became clear to sales what value
    statements to lead with when talking to each
    buyer type and influencer
    Identified key campaign themes
    mapped to buyer challenges
    ● Helped to drive a marketing plan of activity:
    ○ Building credibility for cultural issues
    ○ Positioning us as technically proficient
    

    View Slide

15. PwC UK Sales and Marketing
    Example outputs
    15
    Business objectives Target audience Sales toolkit Campaign plans
    

    View Slide

16. PwC UK Sales and Marketing
    Sales and marketing enablement
    16
    Created collateral and key content to
    support each stage of the buyer journey
    Prioritised marketing activity to focus
    on enabling sales in existing
    accounts
    ● Focussed on identifying existing
    accounts mapped to the use cases we
    had planned for and focussed on
    converting those to meet revenue targets
    ● Central drive was created for
    commercial teams to arm themselves
    with external collateral (flyers and pitch
    decks tailored for each buyer group) as
    well as a battlecard
    Actions Outcome
    Ensured proposition was positioned
    correctly in the relevant marketing
    campaigns at the right times
    ● Put ad-hoc event and comms plans on hold
    to focus on less with more impact
    ● Created thought leadership to promote our
    early-to-market subject matter expertise on
    how to solve the IT-Security Culture
    conundrum
    

    View Slide

17. PwC UK Sales and Marketing
    Example outputs
    17
    

    View Slide

18. 4The results
    

    View Slide

19. PwC
    Re-engaged with more
    impactful conversations with
    accounts that we had previously
    struggled to penetrate.
    Helped to win 3 targeted
    accounts:
    • UK banking institution
    • Multinational online
    payments organisation
    • Mobile payments company
    Recognition from
    Forrester as leaders in
    cyber security consulting
    and innovators for
    DevSecOps proposition
    Results
    19
    Increase in
    opportunity pipeline
    from thought
    leadership marketing
    campaign, resulting in
    ongoing pursuits with
    targeted accounts.
    

    View Slide

20. pwc.com
    Thank you
    © 2019 PricewaterhouseCoopers LLP. All rights reserved. PwC refers to the UK member firm, and may sometimes refer to the PwC network. Each member firm is a
    separate legal entity. Please see www.pwc.com/structure for further details.
    

    View Slide