TRANSFORMING A NORDIC B2B / B2C CLIENTS GO TO MARKET STRATEGY MULTIPLE WORK-STREAMS RUNNING IN PARALLEL TO EFFECT TEAM PERFORMANCE AND BUSINESS EXPANSION
A Nordic publisher approached Corporate Field for help with revitalising its market proposition, pricing methodology, contract terms, sales and marketing structures, incentive plans, client segmentation, and sales team alignment. Faced with stagnation and market challenges, the publisher recognised the need for a comprehensive transformation to better align with changing market dynamics and increase competitiveness.
SITUATION
The client worked in a rapidly changing market environment, marked by shifting customer demands, increased competition, and technological advancements. Despite having valuable content assets, the publisher struggled with an outdated market proposition, rigid pricing models, inflexible contract terms, fragmented sales and marketing structures, ineffective incentive plans, out-of-date client segmentation, and misalignment among the sales team.
The primary challenge was to overhaul various aspects of the publisher’s market strategy in order to adapt to changing market dynamics and reinvigorate growth. This included revamping the market proposition to appeal to target audiences, implementing dynamic pricing methodologies and flexible contract terms, restructuring sales and marketing functions for synergy, developing performance-based incentive plans, fine-tuning client segmentation strategies and aligning the sales team with the revised market approach.team.
Corporate Field created a comprehensive transformation roadmap based on the clients specific requirements. The solution included the following key initiatives:
Conducted market research and customer surveys to gain insight into changing customer needs and preferences. Utilised findings to reimagine the publisher’s value proposition, emphasising innovation, relevance, and added value to customers.
Data-driven pricing strategies were implemented in response to market demand, competitive analysis, and customer segmentation. Flexible contract terms were introduced to meet the changing needs of customers and increase contract flexibility.
Consolidated sales and marketing functions to encourage collaboration, streamline communication, and ensure a consistent approach to market engagement. Created clear roles, responsibilities, and workflows to optimise resource allocation and efficiency.
Created performance-based incentive plans that were aligned with strategic objectives, revenue targets, and individual sales goals. Tiered incentive structures, bonuses for meeting key milestones, and recognition programmes were implemented to motivate and reward sales team members.
Used data analytics and segmentation tools to improve client segmentation criteria and identify high-growth market segments. Marketing strategies, messaging, and sales approaches are tailored to meet the specific needs and preferences of each segment.
Training sessions, workshops, and team-building activities were held to help the sales team align with the revised market strategy. Collaboration, goal alignment, and continuous improvement were emphasised in order to foster an accountable and achievement culture.
The implementation of transformation initiatives resulted in significant improvements for the Nordic B2B publisher.
The revitalised market proposition, dynamic pricing methodology, and flexible contract terms led to higher sales revenue and profitability. Increased market competitiveness. The publisher’s competitiveness and market positioning were improved through the implementation of streamlined sales and marketing structures, redesigned incentive plans, and refined client segmentation strategies.
The sales team’s alignment with the revised market strategy resulted in increased sales effectiveness, customer satisfaction, and retention rates.
By adapting to changing market dynamics and increasing market relevance, the publisher was able to identify new market opportunities, expand its customer base and drive long-term business growth.
Overall, the transformation efforts helped the client revitalise its market proposition, strengthen its competitive advantage and achieve commercial success