Case Study: SaaS Company Expands into New Markets
WE WANT TO EXPAND INTO NEW MARKETS. Which ones? What should we offer?
Our client provides social media marketing software to some of the world’s biggest brands. The company asked High Start Group to research additional markets and sales models to help determine if they should go mass market or stay focused on enterprise, what their offering should be, and which segments were most likely to buy.
We began by speaking with our client’s internal teams who interact directly with customers. By speaking with them in-depth we got a sense from them where the highest adoption rates were and the psychographics behind them, we were able to quickly craft a customer research model that would deliver clear, actionable direction. We then conducted in-depth, one-on-one interviews with current, former, and potential customers and partners that helped us identify and qualify several different potential user segments, use cases, and business models.
High Start Group was able to pinpoint strong, unarticulated needs of a new target customer: a segment of the millions of small to medium-sized businesses (SMBs) that are underserved by existing products. We identified necessary product elements and designed a low-cost sales model that would be economically sustainable for the company and valued by target customers. The new product was defined and is in the development process.