Project Profile
- Time to deliver: 9 weeks
- Average Team Size: 3 people
Client Overview
Product development division within the Financial sector of a leading global data and news service provider. With a strong history and expanding set of services, this firm seeks to provide intelligent information and end-to-end solutions to enable their clients' decision processes.
Business Challenge
To expand the footprint of existing products, services and brand to new client segments through identification and implementation of new product and/or service offerings that align with their current platform and fill a set of needs / gaps in the workflow of target clients. OpenCrowd was engaged to validate current brand positioning, identify target client needs and generate and evaluate business expansion ideas.
What OpenCrowd Did
Collaboration
OpenCrowd partnered closely with our client's management team throughout the idea generation and evaluation process to ensure final recommendations aligned with their culture and business strategy. Also utilized OpenCrowd's relationships across the market as a basis for interviews with target client segment and other prominent market participants.
Innovation
Identified a deep and broad set of potential business offerings that met the needs of the target clients, mapped to the core capabilities, strategy and brand of our client and provided them with a product and service evolution path that will uniquely position them in the market.
Speed
Utilizing a proven and prescriptive approach, OpenCrowd completed fifteen external interviews, identified twenty-four potential offerings, filtered and prioritized to five primary offerings and completed a full market size, revenue opportunity and competitor / acquisition analysis in 9 weeks.
OpenCrowd partnered closely with our client's management team throughout the idea generation and evaluation process to ensure final recommendations aligned with their culture and business strategy. Also utilized OpenCrowd's relationships across the market as a basis for interviews with target client segment and other prominent market participants.
Innovation
Identified a deep and broad set of potential business offerings that met the needs of the target clients, mapped to the core capabilities, strategy and brand of our client and provided them with a product and service evolution path that will uniquely position them in the market.
Speed
Utilizing a proven and prescriptive approach, OpenCrowd completed fifteen external interviews, identified twenty-four potential offerings, filtered and prioritized to five primary offerings and completed a full market size, revenue opportunity and competitor / acquisition analysis in 9 weeks.
Business Benefit
- Strong and deep set of innovative business offering ideas across the trade decision, execution and servicing lifecycle serves as a starting point for evaluation against the ability to fill market needs and to align with firm and business unit strategy.
- Detailed assessment of the overall market size, revenue opportunity, key competitors and potential acquisition targets for prioritized set of offerings provides information required to make investment decisions.
- Consolidated executive summary report supported by detailed models and interview notes provide the data and information required to market primary offerings within your organization and externally with investors, VCs or clients.
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