Some of the worlds most successful products were intended for one purpose and, through lateral thought, became successful in another. 3M, for example initially thought that a glue that didn't stick very well was a failure until someone identified its application for " Post It" notes! Viagra, one of the most successful pharmaceutical products of all time was developed with the aim of providing a heart stimulant, its eventual market was undreamed of.
Your company has various assets: people, processes, products, routes to market etc that are structured to achieve a certain aim. The hidden assets audit identifies and quantifies the discrete pockets of value within your organisation and explores whether these component parts might have untapped value in unexpected markets.
Having decided on some potential destinations for your business, its time to add some science to the intuition.
Who are your potential customer?
Do they really have the pains you cure ?
Are they prepared to pay to cure them ? If so, how much?
What alternatives do they have?
How have they got round the problem thus far.
Which job role feels the pain most acutely
Do these functions have purchase authority or strong influence?
Every plan can be refined and improved by controlled exposure to real world feed back. PPP help you identify a representative sub-set of your target customer audience and have the tools to run a highly controlled and closely monitored series of trial campaigns to ensure that your investment in market wide campaigns delivers the greatest impact for the lowest cost.
Following the Hidden Assets Audit we will usually have a number of potential new directions your company might want to explore. Just because a potential exists doesn't mean its somewhere you aught to go. The Destination Brainstorming workshop helps you to take a structured look at the options and decide which represent a path that you might wish to investigate further.
During the Market Analysis phase we will have identified the other alternatives that your customers have. How do they position themselves in the market ? What competitive positioning statements will resonate with your target audience ?
Our highly experienced marketing experts will explore your options and make recommendations that provide your company with a succinct statement capturing the unique selling points of your business in these new markets.
Structuring your launch and ensuring that your business is ready to respond effectively to the customer enquiries generated is essential.
There is no room for surprises, everyone has to be fully briefed and " on message". This document will be unique to your business and your campaign, but the methodology is common to every business and proven to provide firm foundations to showcase your new business direction in the best possible light.
A new business needs to be constantly alert to the evolving stages of maturity that it will go through. In the early stages these can happen fast and often,
At PPP we work with you to monitor the progress of your new business and help you to subtle change course as you move from launch, to growth. Every vigilant to unexpected opportunities that open up along the journey, further hidden assets to help you exploit.
Its all very well having a goal and a plan, but executing the plan almost always requires an investment in people. Finding the right people, under flexible terms that recognises the risks and provides the agility to adapt to unforeseen challenges and opportunities along the way, is where the PPP Biz Dev " as a service" options can greatly improve your chances of success.