Case Study

10

Defending revenues and displacing competitor products

Company

  • Global information and technology company
  • Capital markets and commodities data and tools – desktop and mobile

Business challenge

This global leader in market data and tools had recently launched a new desktop and mobile platform to serve capital markets and commodities professionals. The new platform was designed to replace a range of existing and well established legacy products from the Company, and also displace competitor products in certain market segments.

To achieve the aggressive goals the Company had set itself for the replacement of legacy desktops, however, it would be critical to provide customers with compelling business reasons to upgrade to the new platform. To displace competitor products, it would be necessary to explain exactly how the new desktop and mobile solution was different and delivered superior business value.

Solution

The Company had deep penetration with existing desktop products in Commodities and Energy trading and brokerage, and in Fixed Income brokerage and dealing. These market segments were chosen for the initial market drive.

BPM drew on in-house knowledge of the end users and workflows in these types of businesses and worked with internal subject matter experts to pull together a ‘straw man’ for the top of mind challenges firms were likely to face. BPM then created a detailed research briefing document and provided the Company’s in-house research team with guidance and direction on the selection and recruitment of traders, sales people and analysts at customers. The Company’s research team then interviewed a number of customers to test, validate and augment the understanding of customer challenges and opportunities.

Using this solid foundation, BPM then ran a series of Proposition Mapping™ workshops and WebEx sessions with business, product and sales leaders in the Americas, EMEA and Asia to map the capabilities of the new desktop platform to the different top of mind challenges and opportunities for traders, sales people and analysts in each segment. An analysis of the resulting proposition maps enabled the most compelling value messages and points of differentiation to be identified for each target market segment.

The output from the project was a series of comprehensive go-to-market Messaging Strategies for: Energy, Metals and Agricultural Commodities trading and brokerage plus Credit and Rates brokerage and dealing. Armed with these Messaging Strategies, BPM worked with the internal marketing teams to rapidly create a set of sales tools dedicated to each target market.

Benefits delivered

  1. Conversation with existing customers moved from ‘product migration’ to ‘solution upgrade’
  2. 70,000 legacy desktops replaced in 12 months
  3. Sales people equipped with precise value messages and points of differentiation for specific market segments, decision makers and influencers
  4. Success in competitor displacement
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