Our Roles:
- Market Research & Analysis
- Consulting
- Business Realization & Transformation
The Challenge
PowerPlus desired to use a smart home solution as a channel to acquire new customers.
Additionally, they aimed to use this channel to more broadly serve their existing customers by expanding their service offerings. Unfortunately, the company didn’t have the understanding required to successfully enter the market.
The Solution
Business Realization Through Extensive Market Research & Analysis
Sprosty began with extensive market and customer research and analysis to find potential solutions. We discovered and outlined non-traditional business lines while identifying PowerPlus’s right to serve the market with a given product or solution. Our team then identified overall purchase drivers including brand and competitive positioning.
Armed with our research, we developed two unique options: PowerPlus providing their own branded solution or providing solutions that would carry the brands of their different members.
The Result
A New Smart Home Security & Automation Business Model
As a result of our research and analysis, we built for PowerPlus a new business model they could use to launch and provide, on a branded basis, a smart home security and automation solution to their current members. With this new offering, PowerPlus could use smart home solutions to acquire new customers and serve their current customers with more services.
PowerPlus’s new, launch-ready business could improve their bottom line by increasing revenue, expanding their reach and retaining their current customer base.
PowerPlus is ready to enter the smart home and automation market with a completely new and launch-ready business.
PowerPlus now knows the types of solutions they can provide to retain current members and attract new customers, thereby increasing their revenue.
With extensive market research data on hand, PowerPlus is able to see their performance in the industry. They now know how to leverage their strengths and business model to move forward in future endeavors.
*We take our clients’ confidentiality seriously. The results are real, the company name isn’t.