Redefining an education consultancy product to respond to a new market opportunity.
When circumstances change, you can either adapt, or get left behind. This case study shows how I was able to help a consultancy become more confident in their product offering and leverage their expertise to stay ahead of the curve, and benefit from changing government legislation.
- After the launch of new levy on apprenticeships in England, employers of a certain size were required to hire apprentices or pay this levy.
- This Government initiative, designed to increase the number of young people taking the apprenticeship route into employment, opened up opportunities for those selling education consultancy services to companies unfamiliar with hiring apprentices.
- The consultancy, part of 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.
- Working closely with the team responsible I identified a proposition that would help this educational and training consultancy to leverage its experience with many companies, including FTSE 100 firms, to purchase relevant consultancy packages.
- I worked with the team responsible to help them properly understand the market dynamics: changes, outlooks, and competitor landscape.
- We conducted a customer needs’ analysis: identifying what is important to customers and what needs were not being met.
- Having identified that customers appreciated the consultancy’s expertise and guidance around the levy, we were able to position them as a critical part of their customers’ long-term, holistic solution.
- In addition, a competitive analysis revealed that new entrants were mainly single consultants, focusing on the short-term opportunities that had arisen from the introduction of the levy
- As a result, I worked with the team responsible to develop a proposition that focused on their solid expertise and the long term value they are able to bring to customers.
- The positioning of this proposition should encourage the client’s target customers - especially FTSE 100 companies - to purchase their consultancy over that offered by the new entrants.
- In addition, it has given the customer a clearer view of their strengths which, in turn, results in improved clarity of messaging and improved confidence in their offering.