Case Studies

Computer and Electronics Recycling Firm

After reading a newspaper article about NJ companies offering “green” services, I contacted my client. They were encountering some challenges in the economic environment and given my knowledge and background, I thought I could help them. With a well timed call, it turned out that the company was going to market with a new electronic hard drive shredding service. While initially skeptical of me and my capability, within weeks a number of leads and contracts were being generated. Within a few years, the company grew from 3 clients using the new service to hundreds and they conquered many compliance governing segments like banking, healthcare, and insurance – owning the market segment.

Start-Up Software Company (Non SAAS)

Two guys spotted an opportunity in a defined market segment and built a software solution to replace Excel and other expensive proprietary apps the segment typically relied on. Initially assuming the software would fit in large companies, initial prospecting discussions uncovered that the assumption was wrong. Quickly switching strategy and refocusing to the SMB segment yielded a stream of interest including many key demos. Critical market feedback was solicited aligning the product with segment needs, resulting less than a year later (working 8 hours per week) in culminated closed sales. Today, a few years later, the software is an industry leader in its space.

SAAS Compliance Software Manufacturer – Preliminary Go-To-Market Testing

Company, which became a division of a larger firm, was testing a new healthcare compliance SAAS offering within the existing client base. They were unsure of the traction it would get and were trying to obtain market feedback to help shape the software and offering in a more market aligned and compelling way.

  • Out of 40 client accounts, 22 meetings were set with C-VP level decision-makers. One of these meetings was with the Chief Medical Officer for a Fortune 50 company.
  • A major potential partner was identified that was willing to help build out and position the new offering among other institutions bearing the same “brand name.”
  • Key information about what the solution offering should encompass and how it could be positioned overall was uncovered.
  • The company was so delighted, that two other projects were given to MagnusMG.

Failures

Quite often, due to the intelligent conversations and rapport established, critical market intelligence and feedback is acquired that can make or break a company. Below are some stories of engagements that failed and the warnings involved.

ITAM Software Solution

Go-to-market situation. Market feedback indicated that there was no need for the solution – comments came from many prospects like “I don’t see how this helps me”, “I have other tools that do that”, “I don’t see the value of this” , plus prior people who met with the founders forgot they ever met or saw the solution. Engagement ended after trial. Founders did not heed warnings and hired a sales consultant, a team of biz dev people, and stated that “iterative market learning process was a waste of time” and ended up defunct within 2 years – burning through acquired VC money quickly.

Retail e-Commerce Solution

No traction was achieved within trial, with the exception of one meeting. Major competitor did product better, according to feedback. Generally, not a lot of interest identified in selected sector. Difficult to position, no value proposition, and hard to define for users. Not heeding warnings, the company hired a full time salesperson and was defunct within a year.

Survey Solution

Did a go-to-market and talked to many potential prospects who indicated some interest; however, noted key functionality that was missing from the solution. Company ended the engagement after trial and decided not to continue with the solution as the cost and time to develop the key functions, which would enable rapid purchase, was not a feasible strategy to pursue. That company ended up developing another product which was sold for millions to a larger firm.