Defining a Growth Strategy for a Software Product Company in India
Background and Challenge
The client, one of the top 10 software products company in the world, had a presence in asset management and networking, storage and security.
The Indian security market had experienced significant growth in the last few years but their internationally renowned security products were having the following issues in the Indian market:
- Poor mind share amongst customers and small to midsize business (SMB)
- Low contribution by partners to the security sales
Thus, the top management requested UC to diagnose the issues and recommend a growth strategy for the security products in India.
Approach and Recommendations
To define a growth strategy for the client, UC adopted the following approach:
- Conducted internal interviews with the sales and technical team to gain a perspective on the clients security business and other products businesses
- Identified the reasons for slow growth in security sales for the clients
- Conducted an extensive primary research exercise across 8 cities, meeting existing and prospective customers (small, medium and large organisations), distributors, resellers and system integrator partners. The key objectives for the primary research were as follows -
1) Understand the current standing of the company in the market as a security player
2) Identify key security requirements of prospective and existing customers
3) Understand the partner?s perception on the security products offered by the company
4) Gather competitive intelligence
- Detailed out the key issues and their resultant impact on the product sales
- Identified the key sources of revenue the company could tap to increase sales and thus, provided detailed recommendations in the following areas -
1) Focusing on SMB?s
2) Realigning the organisational structure to meet the needs of SMB customers
3) Redefining the partner program to focus on the security product sales
4) Developing a retail strategy
- Developed a financial model to project revenues and costs in ?with retail? and ?without retail? scenarios
The client received a detailed strategic plan to help it grow. It also received a road map required for the implementation of the strategy, in the form of an implementation plan. UC made suggestion on ways for the company to overcome the issues they were facing.