Client Situation
A market leader in digital media desired to expand its audience reach into the business-to-business (B2B) market and was looking at two other companies who might provide key components for a unique partnership. One of these companies was a leader in financial market data that desired to expand into the business-to-customer (B2C) market, and a third company was essentially a technology startup that possessed a unique artificial intelligence platform that would be attractive to the financial services market and could help establish a presence there. All three companies individually possessed unique strengths and believed that in strategically partnering, they could achieve their individual goals as well as create a new business based around the connection between real-time financial data and content with stock market movements.
Solution
A E78 team member who was experienced in strategic analysis in digital media was hired as a consultant to lead a strategic planning and development process for the partnership that would:
- formalize the partnership between the three companies
- provide a thorough analysis of the market opportunity within the financial services segment
- develop a product strategy and a go-to-market sales strategy
He immediately went to work collaborating with the leaders of the three companies to fashion the partnership agreement and the strategic plan to develop the significant new business opportunity as well as to achieve each partner’s unique goals.
Results
- The business model and plan created a $300 million new business that had certain barriers to entry for others because of the unique strengths brought by each of the partners. Â
- At the same time, the partnership met each individual company’s objectives of expanding its own client base and increasing income.Â
