Introduction

A leading provider of localization and translation services for the regulated industry with more than 90 years on the market, approached biangle to help assess the market potential for a new product. Our mission was to define and bring to the market a specialized training curriculum for healthcare translators and interpreters. This required biangle to conduct market research, assess the total addressable market (TAM), understand the competitive landscape and regulatory requirements, design a business model, define a go-to-market strategy, and assess the impact of AI. 

The Challenge

The client faced a critical challenge: The leadership team had identified a potentially lucrative, adjacent market but was unsure of the niche market dynamics and an assessment of the business viability of their idea. They needed due diligence and sound information to make the call. 

The biangle Process

Developing a new business and defining a product requires a thorough understanding of the market, buyer behavior, and competitors.

Market research and buyer interviews 

We conducted a thorough market analysis and a panel with prospective buyers identified by biangle to identify buyer patterns, understand the decision-making process, budgets, and uncover pain points and gaps in the existing training programs. 

The analysis also included segmenting potential buyers to understand their specific needs and purchasing motivations. This insight guided the development of tailored marketing messages and product features. We conducted a competitive analysis to benchmark the new curriculum against existing offerings and highlight its unique value propositions.

Go-to-Market Strategy

Our approach included crafting a comprehensive go-to-market strategy to launch the new product effectively. This involved positioning the curriculum within the market, identifying target audiences, defining a pricing strategy, and developing a strategic plan to capture market share and drive adoption.

Product Development

We designed a sustainable business model that aligns strategic goals of all actors including clients, suppliers and partners with market opportunities. This model included revenue streams, pricing strategies, and scalability considerations. We also outlined detailed product strategy, encompassing curriculum contents, delivery methods, and differentiation strategies to stand out from competitors.

As the details started to unfold, it was possible to assess potential P&L, risks and develop a compelling business case to secure stakeholder buy-in and demonstrate the curriculum’s potential return on investment (ROI).

Growth Strategy

We devised a growth strategy focused on scaling the curriculum’s impact. This involved creating a targeted marketing plan, leveraging industry trends, and identifying strategic partnerships to enhance market penetration.

The results

The market research conducted by biangle provided the Client with a strong business case to invest and launch a training curriculum and establish a new business line for the client. This allowed the client to gain a competitive edge in the localization services market for regulated industries, with the curriculum receiving positive feedback from early adopters and target buyers. The project led to significant growth opportunities for the client, including increased market share, enhanced strategic positioning, resolved problems in the supply chain, and created more opportunities to upsell and cross-sell the company’s services.