Experience
The principles and strategies that help drive successful innovation and technology commercialization can be applied to a wide variety of businesses, products and services. Although each industry, company and product has its own unique set of opportunities and challenges, similar frameworks can be applied to the process of commercialization. In addition, the lessons learned in one industry often provide valuable insights that can be applied to other new products and to businesses seeking to break away from the pack.
Astrolabe Partners draws on over 30 years of experience in both operating and consulting roles, including hands-on involvement in the evaluation, development, business planning and launch activities for nearly 100 new products and services. The matrix below provides a brief overview of that experience.
Medical Technology & Healthcare
ENTERPRISE SaaS / ECOMMERCE |
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SOFTWARE & INFORMATION TECHNOLOGY |
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| Client: | Enterprise Search Software Company | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Identify and evaluate potential new IT applications based on core enterprise search technology | |||||
| Challenges: | Finding unique and compelling product applications and market opportunities that could provide significant incremental revenue in a relatively short time | |||||
| Results: | Worked with both internal and external resources to identify opportunities for novel product applications in six new markets; narrowed the field of potential new markets based on an assessment of barriers to entry, product requirements, time to market, ability to leverage existing channels, and competitive environment. | |||||
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| Client: | CRM Software & Services Company | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Develop new CRM application and service offering that would strengthen the company’s position in financial services and facilitate expansion into new markets | |||||
| Challenges: | Creating a competitive new software and services platform, successfully retaining and migrating existing clients from the historic service bureau environment, and making inroads into completely new markets and industry segments | |||||
| Results: | Developed the second generation product and service offering and sold it successfully into both new and existing financial services clients; transitioned product management and account management functions to other managers. Identified and penetrated additional markets that could leverage similar product functionality, including automotive, telecommunications, retail, cable, high tech, consumer durables and fast food. | |||||
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CLEANTECH |
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| Client: | Energy Monitoring Solution | |||||
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| Environment: | Entrapreneurial | |||||
| Assignment: | Identify most promising market segments, corporate targets and potential channel partners | |||||
| Challenges: | A novel technology was being used to address an existing problem in a very different way; the value proposition had not been clearly defined | |||||
| Results: | Evaluated and recommended the most promising industry segments to pursue. Identified the target applications, decision-makers and stakeholders within these segments. Developed a pipeline of prospects and conducted meetings that led to one of the initial pilot deployments. | |||||
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| Client: | Alternative Energy Marketing Solution | |||||
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| Environment: | Entrapreneurial | |||||
| Assignment: | Assist team in evaluating strategic alternatives for their technology platform | |||||
| Challenges: | Initial test results indicated that the initial business model was not sustainable, leading the team to redirect their efforts | |||||
| Results: | Identified core strengths of the company in the context of existing channels, market opportunity and competitive offerings. Assisted team in developing a completely different business model and a refined product that focused on high value market intelligence and analytics. | |||||
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ELECTRONICS |
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| Client: | Electronics Start-up (spinout of major research lab) | |||||
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| Environment: | Entrepreneurial | |||||
| Assignment: | Assist in the initial commercialization of an innovative new miniaturized, high-performance chemical detection technology | |||||
| Challenges: | Identifying the best near-term market applications and developing a business plan that would enable founders to secure initial outside funding | |||||
| Results: | Conducted ideation sessions that identified a range of potential target markets. Worked with founders to develop an evaluative framework based on the market opportunity, product requirements, barriers to entry and relative value proposition. Used narrowed initial set of target applications to help develop a business plan that was used to secure first round venture funding | |||||
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| Client: | Electronics Manufacturing Start-up | |||||
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| Environment: | Entrepreneurial | |||||
| Assignment: | Evaluate market opportunity and develop business plan to leverage new low-cost electronics manufacturing technologies | |||||
| Challenges: | Defining a set of target applications and partner relationships that would enable the company to attract outside funding | |||||
| Results: | Identified and validated initial target applications, engaged potential partners, and successfully pursued development grants as the initial source of outside funding | |||||
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| Client: | International Consumer Electronics Company | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Help strategic planning group reinvigorate new product development within the company and create improved processes for ongoing incubation and evaluation of new product and market opportunities | |||||
| Challenges: | Developing a new product development and innovation process that successfully incorporates existing practices, core capabilities and corporate culture | |||||
| Results: | Worked with strategic planning group and line managers to examine the existing innovation processes, evaluative and decision-making frameworks, and new product pipeline. Conducted product ideation sessions with individual product groups. Developed a “new product” management model, including evaluation framework and organizational roles, to support and accelerate the development of new products, line extensions and new market segment initiatives. | |||||
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MEDICAL TECHNOLOGY & HEALTHCARE |
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| Client: | Enterprise Software Company | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Develop new healthcare IT applications leveraging client’s core technology platform | |||||
| Challenges: | Identifying a product and point of entry that would enable the company to successfully tap into a completely new market segment | |||||
| Results: | Multiple new applications were identified through ideation sessions as well as meetings with senior healthcare industry executives and IT managers. Cost savings, performance improvements and barriers to entry were examined to select among the target applications and determine the best channel and market entry strategy. Product requirements were then refined and the concept was validated by developing relationships with channel partners and prospective direct and OEM customers. | |||||
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| Client: | Health Services ASP | |||||
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| Environment: | Entrepreneurial | |||||
| Assignment: | Assist early-stage start-up with marketing, business development and funding of a new web-based enterprise health management solution | |||||
| Challenges: | Effectively demonstrating the potential ROI associated with a growing workforce problem that target customers were just starting to deal with at the corporate level | |||||
| Results: | Assisted founders with market research, product development and pricing strategies. Took on interim business development role to identify and engage potential enterprise customers in pilot program discussions. Provided input on presentations and business plans, made introductions to potential investors and helped the company secure its initial round of angel funding. | |||||
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SECURITY TECHNOLOGY |
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| Client: | Security Technology Start-up | |||||
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| Environment: | Entrepreneurial | |||||
| Assignment: | Help commercialize new anti-counterfeiting security technology | |||||
| Challenges: | Converting a unique new security technology platform into compelling product applications and quickly penetrating key segments of the security market | |||||
| Results: | Identified, evaluated and designed initial product applications within the anti-counterfeiting, identification and access security markets. Developed and helped manage a key strategic partnership, developed business relationships with major customers, and helped secure additional venture funding. | |||||
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| Client: | Fortune 1000 Government Contractor | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Help commercialize a new video security technology | |||||
| Challenges: | Identifying and evaluating market opportunities and product applications that could be used to create either new product offerings or an independent spinout company | |||||
| Results: | Conducted ideation sessions to identify tangible “pain points” and define potential market opportunities. Narrowed list of target markets and worked with internal team to develop and evaluate initial product requirements. Conducted competitive analysis, evaluated potential partners and distribution channels, assessed business model alternatives (licensing, embedded, end product), and recommended primary short-term target markets. | |||||
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PROFESSIONAL SERVICES |
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| Client: | Consulting & Analytic Research Organization | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Develop new service offerings which could leverage existing strengths in combination with the unique capabilities and technologies of a recently acquired company | |||||
| Challenges: | Overcoming significant cultural differences to leverage the combined assets, create incremental market opportunities and increase overall revenue | |||||
| Results: | Identified a meaningful “pain point” and developed a way to use the combined results of behavioral analysis and attitudinal research to enabled clients to create more actionable and measurable communication strategies. Developed internal processed needed to support this innovative new service offering and then successfully sold it into new Fortune 1000 clients in financial services, cable and telecommunications | |||||
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| Client: | Product Development & Commercialization Company | |||||
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| Environment: | Entrepreneurial | |||||
| Assignment: | Evaluate dozens of potential projects, identify top priorities and develop business plans for pursuing the top candidates within the current and future product portfolio | |||||
| Challenges: | Creating a process for product evaluation and pipeline management that would improve productivity and make best use of limited company resources | |||||
| Results: | Worked with the founding team to create an effective product definition, screening and tracking process. Recommended priorities within the overall product portfolio and then developed initial product specifications, IP strategies and go-to-market plans for six new near-term product initiatives. Helped incubate two new businesses that were spun out of the client company as separate entities. | |||||
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CONSUMER / RETAIL |
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| Client: | Operator of Retail Indoor Entertainment Facilities | |||||
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| Environment: | Corporate | |||||
| Assignment: | Develop strategies for building customer loyalty, increasing the frequency of repeat visits, and using referral programs to acquire new customers | |||||
| Challenges: | Developing centralized programs that required incremental data collection and would be effectively adopted and implemented by the local staff and managers | |||||
| Results: | Analyzed existing data stores and collection processes, met with local managers and surveyed local staff and customers at both high and low-performing sites. Recommended strategies for collecting and utilizing additional customer data and implementing targeted marketing communications through programs that would minimize the initial burden on local staff. | |||||
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| Client: | Regional Retail Sporting Goods Chain | |||||
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| Environment: | Corporate | |||||
| Assignment: | Help client build customer loyalty in the face of increasing competition from national competitors | |||||
| Challenges: | Developing strategies for collecting and utilizing additional customer data without deploying new POS systems | |||||
| Results: | Used input from management, store employees and customers to identify consumer “hot buttons” that could be used to effectively generate opt-in customer lists and support loyalty programs. Recommended specific data to collect and along with processes for merging and maintaining a central store of customer data and interactions. | |||||
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TELECOMMUNICATIONS / CABLE |
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| Client: | Regional Telecommunications Company | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Given responsibility to lead initiative to prepare one of the largest telecom monopolies for competitive market entry | |||||
| Challenges: | Identifying strategies for retaining business in the face of open competition, gaining consensus in a silo-based monopolistic organization, and initiating a rapid transformation within a relatively slow-moving culture | |||||
| Results: | After an initial assessment period, recommended and spearheaded critical initiatives in brand positioning, market segmentation, product development, sales channel alignment and relationship marketing. As a result, the company dramatically improved their competitive position and capabilities and was able to achieve significantly higher customer retention rates than originally forecast. | |||||
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| Client: | Leading Premium Cable Content Provider | |||||
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| Environment: | Corporate | |||||
| Assignment: | Help leading brand reduce churn and increase usage and retention of premium channel subscribers | |||||
| Challenges: | Finding ways to leverage existing systems and communication channels for much more targeted and productive messaging | |||||
| Results: | Analyzed existing marketing programs, customer communications, and customer information management systems. Worked with client to identify and evaluate new strategies for using both available and collectable customer data to cost effectively improve retention and usage. Helped client design and implement enhanced customer data systems and market research programs in support of new one-to-one marketing initiatives. | |||||
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FINANCIAL SERVICES |
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| Client: | Provider of Financial Services CRM Solutions | |||||
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| Environment: | Intra-preneurial / corporate | |||||
| Assignment: | Develop new CRM application and service offering that would strengthen the company’s position in the banking and insurance industry | |||||
| Challenges: | Introducing a new software and services platform in the face of increased competition and successfully retaining and migrating existing clients from the company’s historic service bureau environment | |||||
| Results: | Worked with clients and account services teams to identify pain points and opportunities to add value. Developed the second generation product and service offering and sold it successfully into both new and existing financial services clients; transitioned product management and account management functions to other managers. | |||||
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| Client: | National Retail Bank | |||||
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| Environment: | Corporate | |||||
| Assignment: | Improve the bank’s ability to retain customers, increase loyalty, and effectively cross-sell additional products | |||||
| Challenges: | Working across “silo” product management organizations and finding ways to leverage existing data and information systems to support highly targeted marketing programs | |||||
| Results: | Analyzed existing product marketing programs as well as the customer information systems supporting each product group. Worked with client to identify and evaluate new strategies for using both available and new data to improve retention and cross-selling. Helped client develop a phased roadmap for implementing an enhanced customer data system that could support an expanded array of one-to-one marketing initiatives. | |||||
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