Growth Strategy for Data Aggregator in the Electrical Industry
The Challenge: An electrical industry data aggregator needed to evaluate the future viability of its business model and better align its capabilities with its customers’ needs. The company engaged Blue Canyon to develop a strategy that addressed growth options and risks built on the organization’s current business model, and define the critical factors needed to differentiate itself in the marketplace.
Assessment: Blue Canyon conducted a strategic market analysis to determine market size and growth potential, direct and end customer purchase decision factors, and competitor positions, as well as to identify customers’ unmet needs and emerging opportunities for additional value creation.
Strategic Solution: As a result of Blue Canyon’s research and analysis, the client project team determined four priority growth recommendations aimed to create greater value to the organization’s customers, including reduced time aggregating and searching for product information, improved update notifications, and developing new tools to enhance customers’ data usage.
Results: The client executive team chose two of the recommended growth strategies to present to their Board of Directors. The company is expecting to implement the recommendations from Blue Canyon, which will dramatically increase the profitability of the company and allow it to monetize its assets.