Benchmarking Study for Enterprise Software

Product benchmarking increases sales engagement and informs acquisition strategy

Situation

A leading software vendor needed to validate the strength of four of its solutions, as well as gain insight into ways it could compete more effectively against key rivals.

Solution

NewGrowth investigated the solution offerings of four competitors as well as their pricing, sales strategies and messaging to customers. NewGrowth benchmarked the client's own offerings and provided the client with positioning recommendations specific to each competitor. NewGrowth further developed and provided training to the client's sales force worldwide in sales messaging and advantages of the client's offerings versus the competition.

Results

The client increased its sales efforts for the software offerings and reported higher win rates for bids across all geographic regions. The client's development team also made use of the research, to inform priorities for new features and capabilities. The client shortly thereafter acquired one of its competitors, aided by NewGrowth's assessment of the client's potential to increase sales of its other products within the competitor's core market.