CLIENT : GLOBAL FINANCIAL SERVICES FIRM
Revenue growth with the right insights and process.
Consulting / SaaS Development
The Challenge
The client had a printed information product that was experiencing lower-than-expected performance. The product was a staple in the company’s brand recognition and used by companies around the world. Therefore, the company couldn’t afford to discontinue the product, nor had it succeeded in moving the product to a digital delivery model.
The Insight
Mod Op researched the market opportunity and discovered that the product was highly regarded by the customers. However, the product was often used differently than the company intended which led to a mismatch between customer needs and product value.
The Solution
To increase revenue, Mod Op recommended ceasing production of the printed product and developing a digital subscription and software as a solution model. Not only would this better satisfy the user requirements uncovered in the research, but it would create the opportunity to standardize the revenue projections each year and prohibit customers from freely sharing the product with people who don’t purchase a license.
The Work
Mod Op planned and managed the development, testing and launch of the digital subscription and software as a solution model. A minimum viable version of the product was successfully launched on-time and on and on-budget. Mod Op also trained the client’s team to ensure the product’s success moving forward.
The Impact
300% revenue growth - A profitable product - Internal product management capabilities
- Increased brand equity