Reversing the fortunes of a product at risk.
In times of uncertainty, or massive change facing an industry or organisation, good strategy, focused messaging and a well-considered customer journey can be worth its weight in gold. Not only can it prevent a business from haemorrhaging money, it can actually change a company’s or product portfolio’s entire future: as this case study demonstrates.
- I was working with an education provider, whose long standing training qualification was facing the axe as a result of government changes.
- Since qualifications with government funding are easier to sell, we realised we needed to change the customers’ perceptions and show that the qualification was in line with these new standards (known as iTQ).
- Amidst deep unhappiness – from the perspective of both customers and end users (FE colleges, training providers delivering the courses, and the individuals taking the courses), we realised there was an opportunity to embrace the opportunity, however unpopular it was.
- The team directly responsible for the qualification redeveloped its offer, mapping units from its existing qualification to the new universal one. It was the only player in the market to do so.
- I identified this as the product’s unique selling point and provided focused messaging (e-Quals equals iTQ) and marketing activity which reassured customers, while putting the qualification in a market-leading position.
- In addition, I worked with the team to build a well-considered customer journey, which helped prospective customers move from their consideration to purchase phases, with significant business results.
- Not only was I able to help avert a predicted loss, the new strategy actually resulted in 24% growth year on year.