Marketing Due Diligence

Challenge
Help capital management group decide whether to fund software firm's development of a new clinical payment system.
Process
Devised work plan for evaluating investment decision. Identified sources that could provide information on others' successes and failures in launching similar products and trends that might influence demand. Researched, analyzed and summarized information. Met with developer to identify potential business models.
Results
Determined that market was not ready to buy product as defined.
Outcome 
Client opted not to fund development.

Marketing Management

Challenge
Improve profitability of financial consulting firm as it grows to next level.

Process

Met with company principals monthly for a year to develop and execute marketing plan. Segmented market and analyzed client data to identify most profitable accounts and services. Identified need for freelance writers and PR personnel to support promotion efforts and recruited flexible staff. Restructured administrative responsibilities to include execution, monitoring and measurement of marketing programs.

Results

Targeted more profitable market segment and repriced services provided by consultants. Added entry-level services that associates could deliver to capture additional share. Raised awareness among prospective clients by launching newsletter and seminar series. Used direct marketing campaign followed by telemarketing to generate qualified leads. Began developing third-party partnerships to distribute software that firm used to formulate its recommendations.

Outcome

Firm experienced significant growth, increased its profitability, moved to new office space, and hired a part-time marketing director.
  
Value Proposition Validation

Challenge
Help financial software firm identify new revenue opportunities by answering two questions:

Is there was sufficient demand to justify migrating the current product line to a new technology?
What new products and services does the target market require?
 
Process
Identified and sized current and potential market segments. Developed iterative research methodology that maximized the value of individual interviews and minimized overall research costs. Contacted, recruited, and interviewed industry experts, officers at financial institutions, and prospective users to understand market requirements and relative value of potential capabilities. Identified and ranked opportunities based on anticipated demand, time-to-market, and fit with client's mission. Summarized results and presented findings to management team.
Results
Uncovered untapped potential for current product but not enough to justify the investment required to re-platform the product. Also, identified demand for a new web-based solution that client could develop quickly by leveraging existing technology and capabilities.
Outcome
Within six months, the client launched the new product and signed up four accounts. The firm projects 6-10 unit sales over the next 12 months driving the new product line into the multi-million dollar top line contribution.
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"
Barbara Bix did an outstanding job of getting us and keeping us focused. Maintaining absolute focus on the rollout of The Choice Care Card was critical to our early success because we were first to market with a revolutionary product."
Jay Hunter
President and CEO

The Choice Care Card
 

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