A global Fortune 100 technology company wanted to create a robust product launch strategy for their new software solution. Their product team for emerging markets needed an innovative approach to successfully launch this new Point of Sale (PoS) software/hardware solution in the Indian market, targeting small and medium businesses (SMBs).
Compiling an effective Go-To-Market (GTM) strategy was critical, to strategically position the product in the market, while identifying customers’ needs. In this case, understanding the expectations of the SMB customer helped tackle regulatory hurdles (such as GST) and create a reliable launch strategy with priority actions.
To efficiently launch the product, the client approached Zinnov to create a comprehensive plan that targeted the right market, focusing on different geographies and sub-verticals within the retail sector. The plan was meant to help in position the product strategically while dealing with regulatory hurdles, and providing key insights from a detailed competitor analysis.
The client wanted their product to stand out in the market by offering a Unique Selling Proposition (USP) that was not already available in the vertical or among their competitors. To help attain this goal, we dug deep into the customers’ needs and identified the pain points that had been unresolved. To generate additional insights that would help the client devise a GTM strategy, we evaluated the entire SMB market landscape in India.
To map the overall picture of the market, Zinnov conducted an assessment of the total number of SMBs in the country against the geographic distribution (region and state), industry vertical, employee size etc., along with key trends.
For the full assessment, we deep dived into the top 3 competitors and identified four priority verticals, critical problems, and existing and prospective use cases.
This gave the client the market benchmark, customers’ expectations, and a thorough competitor analysis of how their product compared to other companies.
We went a step further by delving into the SMB Retail vertical – this was critical as it helped to identify the market landscape, sub-vertical categorization into grocery, apparel etc, value chain mapping, type of PoS solutions and their usage in the market.
The analysis helped identify the retail vertical as the best available market to launch the new product. With the help of key insights from the research, we evaluated the product’s total addressable market and the critical needs of a customer that the product would be able to fill. We devised a strategic plan for the client to target customers in the retail vertical, addressing their pain points.
Our partnership and work with the client helped identify the priority vertical for product launch, which was retail. The sub-vertical domains, mainly grocery, restaurant, and apparel, are the sectors where the client will focus their persistent efforts to position their product as an excellent fit.
We worked on a phased implementation strategy for the launch of the new product which substantially helped the client maximise their market potential and reach target customers effectively, and faster.
True to Zinnov’s values of collaboration and partnerships, we devised an end-to-end plan for a collaborative ecosystem. The plan comprised of proposed channel/distribution partners, implementation partners, and end customers. This enabled the client to create customized targeting strategies for each stakeholder and manage the large value creation project effectively.