A lack of innovation had resulted in the complacency that brought them to a crossroads: invest in the core business or use their current capabilities to create new and profitable areas of growth.

At Sprosty, we understand and believe in the importance of leveraging and taking advantage of the current businesses, products, and customers that companies possess. In fact, this is much more powerful than doing something brand new. For RegGenCo, we created an adjacency-growth strategy, using their current customer base, relationships and services to create new areas of opportunity.

To do so, we began by conducting in-depth research, from collecting customer point-of-views to identifying the gaps inside the energy industry. We matched those needs with the company’s right to serve their customer and their abilities to find a product that fits perfectly.

We developed an evaluation matrix and RFI, writing customer-specific requirements that would allow RegGenCo to differentiate themselves in the marketplace. We customed a series of tools (CVP, BMC, CXJM, Lean, Design Thinking) and workshops to implement a product and service innovation and development program.

Our team collaborated shoulder-to-shoulder with chief intrapreneurs and teams on decision support, recommendation development, financial programs and operations management. We built the complete growth strategy and owned the end-to-end execution of a new IoT platform for the company.

As a result of our work, we launched a customized smart home security business on a platform that would support the company’s core services such as energy and home service lines. This IoT platform would grow revenue and customer relevance, selling energy efficiency as a solution. Plus, this new business would drive economic growth through new customer acquisition and retention, leveraging new PaaS (platform-as-a-service) based capabilities.

*We take our clients’ confidentiality seriously. The results are real, the company name isn’t.