Background
The business strategy and sales transformation developed based on our client’s requirements, provides the specific actions that should be taken by the company in order to achieve forecasted results. Due to continuous decline on revenue of the company, its dependency on key customers and hardly differentiated products they provided, a Go-To-Market strategy was presented to a Security Related Services and Products Company in Kosovo.
Our intervention
While our client is operating in three business units we analyzed each of them, consisting to be:
- Security unit
- Home Automation unit and
- Retail Intelligence unit
Regarding Security Business Unit, we started by gathering information about the global size of the global security system solutions, estimated in two types of end-users: Home Security Systems & Industrial Security Systems. Each of them was in depth analyzed, hereby we identified global players shaping the industry as well as market drivers of home security system and industrial security system. After that, we analyzed the products and services of the company as well as we identified domestic competitors offering the same products and services. Hence, we analyzed their products and brands they provide as well as their end user.
As per Home Automation unit, we also identified end-users which consisted to be: Commercial Automation systems, Residential Automation systems and Building Management Systems (BMS). After that, we also analyzed key players and key trends. To have a clear view of the industry in Kosovo, we reviewed the market and identified the potential customer of our client for home automation products, and current domestic competitors as well.
Key outstanding questions
- The business model which could sustain growth
- Where is the growth potential
- Quick-wins: Identify top 20 accounts which should be penetrated ASAP
About Retail Intelligence unit, an overview of global retail intelligence market, including the size of current and forecasted market has been evaluated as well as products shaping this industry. The types of Retail Intelligence products were detected to be:
- Product tagging and recognition
- Assortment Intelligence
- Pricing Intelligence
- Competitor intelligence
- In-store analytics
Under this section we identified which kind of stores dominates the global retail intelligence. To identify the domestic market, we estimated the number of enterprises with the main focus on retail stores and its activities. We also analyzed the shopping malls and their number of stores, to identify our client’s best target audience. Later on the scope of work, to propose the route our clients should take in the future, we analyzed the marketing mix of Retail Intelligence unit, hereby demonstrating each element in details.
In the end, after the analyzing the company’s current approach to the market, we introduced to them a new route which was shifting from product driven to hardware as a service driven. Moreover, we also defined the communication strategies for each unit the company operates in to better achieve its targeted audience. Furthermore, we developed an action plan, including:
- KPI’s for strategic marketing initiatives
- KPI’s for sales objectives
- KPI’s for communication objectives
To conclude, we provided them support on the team development related to this new sales and go-to-market strategy.
results
The insights of the strategy introduced by XPR Consulting helped the company to clearly understand the market segments and its reposition in the market. Hereby, the company decided to shift from product driven to hardware as a service driven, something that led them to have an expansion of current customers as well as to reach new customers, and allowed the company to have a better return on the investment. Moreover, our client possesses a communication strategy and an action plan for sales and marketing activities that need to be conducted.