TVIwealthexpresstrain.com

Well, it’s not quite that easy, however here’s a short review of how one of our clients, an unknown technology-based, company with a breakthrough product, put it all together.

The Setting

Our client is a fast-paced, communications technology company that had spent years developing a breakthrough Multi-Antenna Processing solution. Given the principals early years, serving as, Engineering faculty members for a noted Educational Institution, they were connected with certain Government Agencies that provided active projects and seed funding.

This allowed the company to validate and prove the technology, however it became clear that the company could not sustain its ambitions and livelihood on Government-sponsored projects.

The CEO – a Thought Leader in the technology space and a Visionary – determined that the initial target for this breakthrough technology would be in the Defense & Military and Homeland Security Markets. This was based on the fact that the proving ground and early-stage support was derived from Government Agencies. Concurrently, the company would also focus on segments of the Commercial Market, with emphasis on leveraging identifiable Partner candidates.

Beyond that, the company did not have a strong sense, as to where to take this innovative technology.

The Spade Work

Our firm was contracted to research and identify key segments and application areas that were a “best fit” opportunity for the company’s technology base.

This also had to be calibrated to fit the company’s expertise and raw organizational, financial and resource capabilities.

Being an early-stage company, it could not sustain long selling cycles (12-18 months) or enter a Market area that provided serious barriers of entry or strong competitive influences.

Not an easy challenge.

The Output

The findings were provided to the CEO and his Senior Team – several Target Segments were identified (with rationale/justification); C4ISR, Digital Battlefield/Network-Centric Warfare, Urban Warfighting, Border & Perimeter Control, Initiatives like RCIED and Video Distribution.

These areas were expressed in “applications” terms, which described how the company’s technology fit into the referenced application space.

Key benefits were also defined, which would be derived from the use of the technology, by the Target Audience.

Further, we confirmed that the primary obstacle would be the “Make vs. Buy” decision, by the Defense Contractors/Integrators that would be candidates for this breakthrough communications technology. Conversely, there was no evidence of an independent competitive force that would rival the company, at this stage.

However, this did mean that the company had to develop a compelling story to justify outsourcing this content and be sensitive to “not competing with their target customer” – the Defense Contractor/Integrator base.

A delicate balancing act.

The Selected Program Mix

The program was broken down into three key elements:

-Vertical Industry Development – it was necessary to launch the company and its breakthrough technology into the selected Vertical – Defense & Military/Homeland Security and package/promote it in the “language” of the Target Audience.

This can be a hard translation for Technology companies, however it is key to success.

This was accomplished through Industry White Papers, Featured Articles, Interviews, participation in E-Cast Webinars (Subject matter specific, not Company pitches) and leveraging influential 3rd Party organizations and groups that carried “clout,” with the target Defense Contractors/Integrators (the primary buying audience).

This, served as, a means of “legitimizing” the technology.

-Product Launch & Roll-Out – it was necessary to package the company’s technology into a Family of Products that could take the target customer from initial development to full deployment. This is referred to, as standard off-the-shelf product. Additionally, a model was defined for those Do-It-Yourself customers that preferred to license the technology (affordably).

This dual approach allowed the company to be flexible to meet literally any class of prospect situation.

A full Product Launch Campaign was defined, developed and implemented.

Again, with an emphasis on “selective” targeting – not a broad-based program.

Worth noting that, given the company’s tight budget – Print Advertising, Road Shows, Major Trade Shows and other venues could not be tapped.

This Campaign needed to be unconventional, effective and affordable right out of the gate.

-Target Account Development – this is the segment of the overall Program, where the “rubber hits the road.”

Given our firm’s experience and contact network/relationships with Defense Contractors/Integrators, Key Agencies, Program Offices and other influential sources, we constructed a Campaign that focused on the TOP 50, within the U.S. DOD Market.

This consisted of a themed, multi-phase prospect development campaign.

Each phase highlighted a different aspect, however the campaign was a building-block approach, which reached, prompted action and drove the process.

This was not a conventional lead generation program.

It was a dedicated and focused Account Development Program, which built awareness, relationship, following and an opportunity base.

This did not focus on the Technology Company or its available products and services.

Rather, it created a bridge to potential prospects and a vehicle to allow both parties to “engage.” The emphasis was on the problem-to-be-solved and the application requirements.

The Outcome

The Company developed a rich opportunity base, which represents several million dollars of business potential from scratch.

Further, they are now a recognized and an established source, with roughly 35 of the TOP 50 Accounts that were targeted.

Keep in mind that we count a multi-divisional, Defense Contractor, as one Target Account.

That translates to cross-divisional penetration and in some cases, 30-50+ contacts/relationships per account.

The breakthrough Technology company has also gained considerable ground and a nearly “Defendable” position.

It is now the first name that Defense Contractors/Integrators mention (name recognition), when asked to define the primary supplier for this class of communications technology.

And, the good news – this total campaign cost less than $70K to fully implement.

That’s less than the technology company’s average order value.

Copyright 2008

Edmond M. Hennessy

Performance Marketing Group