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
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
3. 1The problem - why was this proposition not resonating with its target audience?
4. PwC A three-step methodology for repositioning a product or service: A case study December 2019 Proposition messaging not clear 4
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
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 ?
7. 2Using a different approach
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
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
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
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
12. 3Applying this to the Software Assurance proposition
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
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
15. PwC UK Sales and Marketing Example outputs 15 Business objectives Target audience Sales toolkit Campaign plans
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
17. PwC UK Sales and Marketing Example outputs 17
18. 4The results
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.
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