Situation
The client, one of the largest service providers in the healthcare industry, was exploring opportunities to expand into a potentially lucrative market segment. This market had historically been dominated by major incumbents, but new regulations, M&A activity, and evolving customer needs were rapidly changing the landscape and creating an opportunity for a new market entrant with a differentiated service offering. The client needed to thoroughly understand competitors’ existing offerings and go-to-market strategies to develop an effective market entry strategy.
Methodology
The Maia team conducted a thorough review of each competitor’s business, which encompassed strategic priorities, marketing and messaging, pricing, key partnerships, sales force structure and compensation models, and operational logistics. Maia conducted exhaustive primary research interviews ranging from senior executive management to field sales and operations personnel. Maia further validated the findings and market opportunity by interviewing customers.
Analysis
Maia determined that competitors were anticipating a significant shift in customer demand and were rapidly working to build an expanded service portfolio through strategic acquisitions and partnerships to address these future market needs. Maia also identified competitor capability gaps that were creating pain points among key customer segments and would provide the client with an immediate opportunity to get a differentiated foothold in the market.
Impact
Maia’s analysis enabled the client to quickly capture new business by targeting accounts with a differentiated and well-aligned value proposition, and a customized service offering that addressed customers’ unmet needs. It also allowed the client to leapfrog the competition and position itself for long-term success by prioritizing the development of strategic partnerships to expand its service portfolio and align with future market needs.