Client Successes

Optimizing Product Marketing

Leading Publisher of Construction Data

Challenge

How do you effectively move your product offerings to the next level of competition in an ever-evolving marketplace? The construction division of a diversified Fortune 500 media company provides new project data and product supplier information to the $1.2 trillion construction industry. They deliver much of their data through an award-winning portal that integrates architects, construction managers, buyers, and suppliers into a single digital nervous system. As suppliers become more aware of Customer Relationship Management (CRM) as a discipline that can help them, there is potential for them to look to this organization for advice on how to optimize their marketing efforts as well as how to integrate the construction data supplier's tools with their CRM tools. CVP was brought in to help them define the right processes, organizational structure, and product and service offerings to take full advantage of the changing marketplace.  The organization needed to evolve from simply providing data to being a trusted advisor to their customers, especially as those customers looked to leverage that data to enhance their business development and sales efforts.

Approach and Results

The CVP solution included three major elements. The first was to create the right organizational structure to support both product innovation as well as the delivery of consultative services for a group that had traditionally dealt in the transactional selling of informational products. The second element was the development of a "Voice of Customer"-based innovation process to ensure that the organization had its finger on the pulse of the market and was forging a partnership with their best customers to make sure that the products and services offered continue to meet their needs. Included in this analysis was an initial definition of immediate opportunities and prioritization based on their value to the customer. The final element was the development of a framework for delivering professional services to supplement the customer's traditional information products. The framework included offering development, methodology, pricing, and partnership strategies. CVP helped the customer use these elements to define a program and expand their offerings.