Background
The $2B life sciences division of a large multinational company had been built primarily through acquisitions. They had a well-intentioned vision of becoming known as an “end-to-end” provider with products in every life sciences category with a target on big companies in a specific category. They were seeking to gain a more dominant position in the market and were struggling to create traction in a scalable way. The back-to-back acquisitions had left them with no brand recognition at the corporate level, a “cut-and-pasted” premium pricing strategy and a poorly articulated value proposition. Customers didn't care that they were an “end-to-end, one-stop-shop", they just kept driving down prices on every purchase.
Action Plan
EMM helped the company identify why they were different and unique, segmented their big category customer base to create unique offers tied to customer value, then bundled products and services together to create differentiation that set them apart from competition and justified the premium price they were seeking. Finally, EMM arranged training for sales, customer service, and all other back office personnel to project this new value proposition and ensure that they could deliver on their promise.
Results
The results have revolutionized their business. Working with EMM, the company broke the cycle of irrelevance following their acquisition spree. The division now enjoys a clear identity in the eyes of the customer and has created a customer sales and service model to support that. They have become relevant, compelling, and differentiated - offering a value proposition that is not just product-based, but also founded on a product-service bundle platform.
