Tech Giant Avoids Revenue Losses Because of Market Intelligence

Challenge:

The client in this case was a Fortune 100 corporation which specializes in web conferencing technology. The company’s web conferencing technology was very competitive in the enterprise and mid-market categories but was struggling to win over market share among small businesses. A lot of innovation was happening in the web conferencing space around this time as companies pivoted from in-person to a remote work model during the COVID-19 pandemic and understanding how to compete/which features to build would be crucial in the race to win market leadership in the small business segment.

Solution:

We advised the client to consider what the competitors were offering in relation to products and features to small businesses.

The reason for our approach was based on the consideration that Product Managers needed to understand which competitor tools were popular within the small business segment along with granular data about specific product offerings, features and other key differentiators which were more favorable for small businesses and users collaborating with these tools.

Outcome:

After a thorough examination of the problem, and robust analysis based on various data sources, we found that there was a mismatch between what small business owners were looking for in a web conferencing tool compared to the product that the client was offering. Small businesses were interested in ‘easy-to-use’ products that were unburdened by the clunky architecture of the client’s complex enterprise solution. Additionally, the licensing cost of the product was too prohibitive for small business owners. The video and audio capabilities, text formatting and storage capacity were other key areas that Datadvise discovered the product development team needed to work on.

As a result of them looking at the problems that we raised, the development team was able to incorporate features that were more suited to small businesses which allowed them to compete more effectively and win over small business customers.