Redefining an education consultancy product to respond to a new market opportunity.
- Launch of new levy on Apprenticeships in England. Employers of a certain size must hire Apprentices or pay this levy. This is a Government initiative to increase the number of young people taking the apprenticeship route into employment.
- Opened up opportunity for those selling education consultancy. Many businesses who will be impacted by the levy either lack experience in hiring apprentices or hiring them at the volume required. Meaning there are plenty of knowledge, skills and resource gaps to fill.
- The client, a leading vocational education organisation, wanted to refresh its proposition in order to capitalise on this opportunity whilst differentiating itself from the hundreds of new entrants to this market. It already sells educational consultancy and training to companies, including FTSE 100 firms.
- Properly understand the market dynamics – changes, outlooks, competitor landscape.
- Customer needs analysis: identifying what is important and what is not being met. In this case, it was trust in expertise and guidance around the levy as one part of a long term holistic solution.
- New entrants were mainly single consultants, focusing on the short-term opportunities that had arisen from the introduction of the levy. So a decision was made to develop a proposition that focused on the solid expertise of this organisation and the long term value that its consultancy could bring to customers.
Early days but am confident the positioning of this proposition should encourage the client’s target customers - especially the FTSE 100s - to purchase their consultancy over that offered by the new entrants.