Develop an Innovation Strategy

Challenge: Our business-to-business client in a multi-trillion dollar financial sector faced mounting customer dissatisfaction and declining revenue when a substitute service entered their most profitable business area.

Solution: To address the challenge, we conducted a discovery process to understand the customer sentiment and identified many of the new entrants' features favored by the customers. Our team helped our client determine a portfolio of products to blunt the attack while competitors overspent on ineffective strategies. We also built an external partner network of the would-be disruptors and developed a center of excellence that advised the client's account leaders facing customer questions about feature sets of disruptive new entrants.

Outcome: We created a new profit center.

Our client was able to develop a successful flanking strategy that enabled them to retain their most profitable core business area while building deeper relationships with external partners. The outcome was improved customer satisfaction, increased revenue, and a stronger market position for our client in the highly competitive financial sector.

Reach out for a consultation to strategy@growthinnovationstrategy.com.