A large global Service Provider wanted help with penetrating the top accounts in the industry. The company wanted to identify opportunities with accounts in new areas, where they could upsell their services. Along with this, they wanted to build strategy to expand the wallet share for their current services. The global service provider was looking to form strategic partnerships within the industry and wanted help with identifying potential partnerships and targets to grow joint GTM initiatives.
The Zinnov team took a two-phased approach to solve this problem and add value to the market penetration of the client strategically.
In the first phase, the team performed an As-is Analysis to understand the current capabilities of the company’s offerings and the ongoing projects within the organization.
The next step was to run a market sizing exercise to assess the existing needs and trends among the potential and existing customers. The team assessed the kind of spending and growth visible among the customers and studied if they are offshoring and outsourcing their requirements for low costs and growth. Then, the team performed an analysis of the customers’ technology trends and the kind of spending they incur. This provided the company a deep insight into the profiles of their customer base, to better target their service offerings. This was followed by a competitive analysis to assess where the company stands against its competition within the industry and to understand the competitors’ business activities.
Once the mapping of the company’s capabilities and the opportunities available in the market was done, the team identified and collated niche areas of market penetration for the client. Along with that, recommendations for M&A opportunities in the industry were also made.
In the next phase, based on the verticals suggested in phase 1, the Zinnov team identified focus accounts that would contribute to the company’s growth. After that, those accounts were mapped to measure the overall spend against the competition, assess headroom, and the important stakeholders. Then, the team zeroed in on the offerings for approaching the identified areas and accounts, and set goals for the sales team.
The research and assessment carried out by Zinnov during the first phase of the program provided a deep insight into the potential partnerships, accounts, and niche areas for upsell opportunities. The team at Zinnov enabled the client to better their approach and improve sales. In addition to this, Zinnov projected the growth by quarter, after setting the goals for the sales teams as per the geographical and industrial structure of the organisation and its capabilities, which will yield considerable profits to the client.