Plural Strategy’s client is a B2B media provider, which provides marketers access to audiences across three core industry verticals through a number of channels across digital, print and events
Situation
Following a series of challenges that led to a decline in revenue (including Covid-19), the client asked Plural to develop a strategy to accelerate the transformation of the business and maximise value creation levers over the next three years
Furthermore, the client asked Plural to design an execution plan to deliver this strategy
Key questions
What are buyer and marketer needs and how are they evolving?
What are the strategic options and how can they be prioritized?
How should the strategy be executed and what are the next steps?
What we did
Transformation hypotheses and case study development
Reviewed the transformation journey and evolution of best-in-class business models, and identified the core development stages that others in a more advanced stage have gone through
Opportunity assessment
Assessed the current state of the client’s product offering and other capabilities to diagnose where the business is in its digital transformation
Analysed underserved needs of the client’s audiences and marketers to identify potential opportunities to better serve their needs and increase share of wallet
Strategy and execution plan development
Prioritised opportunities based on market need, (potential) value add to the business and ease of execution
Designed a detailed execution plan, including capabilities and investments, to execute on these opportunities
Sequenced the plan over a 3-year period
Outcome
Plural delivered an actionable plan, with actionable steps to execute on the key opportunities priorities
Plural clearly set out the recommendations on the investments required on infrastructure, tech and internal business processes, as well as the phrasing of these investments so that the target had a set of actionable initiatives
Since our work, the client has followed the plan. As an example, the client has a fully developed content and audience strategy and has recently introduced a content studio to help service marketers’ needs
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