Medical Device | Case Study
From Warring Factions to Surging Growth
Overview
Challenges
- Opportunity to address three major market opportunities
- Lacked talent to compete effectively
- C-Suite executives fighting about strategic direction
- Factions and conflicts within marketing, sales and IT departments made progress impossible
Benefits
- New strategic direction that everyone could agree on
- Expanded customer opportunities
- Faster growth with higher profitability
- More focused executive team
- New consulting talent hired
Creating Passion from Pessimism
My start-up medical device client had three big customer opportunities and the resources to effectively service one. These were huge market opportunities: big pharma, big hospital networks, and physicians’ networks. The problem was each of the C-suite executives wanted to serve a different market: the CEO wanted to go after big pharma; the CMO, my contact, thought hospital networks were the best bet; and the CTO was voting for physicians’ networks. Because they could not agree, they did nothing. They were spinning in crisis mode and their competitors were moving in.
That’s when Octain got the call. Using the Octain customer accelerator canvas, together we mapped out the three customer personas and markets against the resources needed to win each market. During the process, it became clear to all three executives that they needed to pursue hospital networks. Once they had clear direction, they moved the company forward and even better, they became friends again.
“Before Octain, our team was all over the map trying to target the right customers. Now we have a focused strategy for reaching our best prospects. We’ve seen sales jump 40% in six months.”
– CMO, Medical Device Company
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