Report
Developing a 3-year strategy for a B2B media platform to deliver transformation and accelerate growth
Project background
Client context
- 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
