Spark transforms SaaS company, enables
The challenge
The company is a medium sized SaaS company within process-digitalization software. The digitalization market is growing rapidly, but this company’s revenue was not. There was strong customer demand because customers were struggling with efficiency in their existing working processes. The company had gone through several CEOs and was also in a process to launch the next generation of their software platform.
The board was concerned with the development of the company. They sensed a lack of strategy and that the company’s role in the market was unclear. Additionally, there were concerns with the speed and direction of the next generation software platform development.
The Spark Engagement
Spark was engaged to help the company clearly define an attractive and competitive position in the market that could better drive sales and market share. Spark’ assignment included working with the management team to become more product-focused as a company and ensure that the introduction of the next generation software platform was done with quality, was efficiently migrated and launched within the shortest possible time frame.
Based on the performed assessment, a Spark-team carried out a Product-Led Transformation™ focusing on Product Management, Operations, and Sales and Marketing. The Spark team designed a Transformation strategy with the company consisting of four major workstreams; Product Strategies, Product Sales and Marketing, Product Planning and Product delivery and Support.
Deliverables
Spark led the transformation over a 6-month period working hands on and shoulder to shoulder with the team. Collectively we achieved the following:
- Based on a redefined and corrected market definition, the company DNA, value proposition, and customer targeted positionings were created, clarifying customer value and increasing competitive edge.
- The product management function was re-established, clarifying roles and responsibilities. A product-success culture was developed and embedded throughout the company.
- To ensure clear direction and timing of the next generation platform launch, a roadmap and a structured plan were created and activated. The plan included targeted customers, a go to market plan, a timely delivery schedule and resource mapping.
- Customer segments and ideal customers were defined, enabling the targeting of highly relevant prospects. Traction from sales and marketing efforts were hence increased giving a stronger sales pipeline.
- A strategy for customers messaging was developed to secure effective market communication and to ensure coherence between marketing and sales messaging. The home page architecture was aligned with the customer journey and the key decision makers differing interests.
- Company operations improved due to enhanced alignment and increased clarity regarding cross functional cooperation especially between product management R&D, Services, and Customer Success Management. Strategies for these key functions was created and activated.
The ReSULTS
During the 9-month project, which took place through the COVID 19 pandemic, the targets for the Product-Led Transformation™ were achieved. Simultaneously the company reached set budget goals and excelled previous year’s sales by more than 25 %.
The next generation platform was launched earlier than initially anticipated bringing additional revenues to the company.
