Client Case Studies

LPL Financial

Client Situation

LPL Financial, a high growth services company, had a year long debate about the value of an opportunity for investment advisory services in the insurance distribution channel. This debate prevented an effective market entry. Discussions revolved around the complexities of the market and assumptions about product requirements, including the software platform for financial advisors and ability to compete effectively in that channel.

Research, define and value the opportunity and missing elements for success

DMR&C leveraged existing research, subject matter experts as well as direct client interviews to frame the business proposition for LPL and identified not only the potential market that might be realized but also the key missing elements from the company’s offering that needed to be addressed to make the line of business successful. The results and recommendations were clearly and effectively laid out in both written and presentation formats.

Increase certainty, make informed decisions, improve core and incremental offerings

This enabled LPL’s leadership to understand the market place, increase certainty and make an informed decision on how to proceed. In addition to the incremental revenue opportunity, many of the recommendations were applicable to improving the company’s core offers serving their own financial advisors. In 2010 LPL’s annual revenues of reached $3.1 billion and its advisors collectively managed over $300 billion for their clients.

Electronics Company

Client Situation

A medium sized electronics company kept hiring high performance sales professionals to increase revenue. This resulted in high turnover of those sales professionals, high cost and revenues well below expectations.

Mentor, marketing and sales processes developed, lead gen and sales funnel management

DMRC mentored the Director of Sales and Marketing, who was new to title and new to the marketing function. This led to the development of the company’s first tested and documented scalable marketing and sales processes. Knowledge transfer was coordinated between engineering, marketing and sales people that resulted in more effective marketing communications, lead qualification abilities and sales funnel management.

Retention and revenues increased

The retention of high performance sales professionals and revenues increased based on new consultative selling into a well focused market target and quickly qualified and closed leads.

Hardware Company

Client Situation

An established hardware company had many product development ideas based on their technology and manufacturing processes. The cross-functional leadership team had difficulty in selecting which ideas to develop. The company was stalled trying to bridge the gap between their technology, ideas for additional products and customers with high willingness to pay. They wanted to go from their technology directly to market which was not working.

Distinctive capabilities leveraged, innovation process, values and prioritizations take place

DMRC had sessions with the leadership team to determine the value, quality, feasibility and compatibility of the list of growing company-wide ideas. Agreement about the company’s distinctive capabilities was reached, including strengths and weaknesses, scalability and time to market priorities. A process was established where new ideas could be valued and prioritized.

Short and long term priorities valued, time to market decreased, margins increased

The company now has a specific innovation development process to value and prioritize new concepts regularly. They are able to view and value the ideas against their near term objectives and long term plans. Time to market was decreased by 50% and the more efficient market timing allowed for longer product lifecycles and decreased commoditization over time.

Collateral Risk Automation and Reporting Company

Client Situation

A five year old collateral risk automation and reporting company with 100 employees needed assistance growing its business selectively and efficiently without taking on excessive overhead.

Assessment, communications, programs, mentoring, CMO representation

An assessment of the company’s projects, challenges and objectives was completed with the CEO, CFO and Directors. Specific growth goals were defined and objectives prioritized. All critical communications were updated based on the business objectives and what the communiqués needed to do for their audiences. Specialized business development and marketing programs were put into place along with mentoring the people responsible for them. Programs included: lead agents, business alliances, business development events, partner selection and competitive industry, product and market intelligence reporting and recommendations. All implemented for maximizing product, company position and value. Also included was CMO representation during merger and acquisition negotiations throughout the two years.

Sustainable programs and growth, leadership advanced, revenues increased

Sustainable programs and processes were run by well mentored directors and well informed CFO and CEO. During the next two years, programs and revenues grew efficiently from $4 million to $7 million. The company was frequently approached for merger and acquisitions by much larger well known companies.

I Drive Safely

Client Situation

I Drive Safely, LLC is in the business of online driver training services and is certified in all 50 states for online education. When Del Mar Research & Consulting began working with them the company was 6 years old with 80 employees in a highly splintered market. The founder and CEO knew they needed to define exactly the next levels of growth and how to get their profitably.

Growth objectives, differentiation and value by customer experience

With several engagements over a three year period, an assessment of the company’s market and position, challenges and objectives was completed with the CEO, market information was used for market sizing and values; strengths, weaknesses and competitive implications. Critical decisions were made with including demand-side information to define markets, develop strategies and effectively deliver services for the entire country. Efficient and realistic growth objectives were set. Product development and promotion was focused on what people in the three markets wanted I Drive Safely to do for them. These “Do-Fors” were different for each of the three markets – driver’s school, mature insurance reduction and especially the new ‘teen’ online offering. DMR&C recommended the company differentiate themselves with hard to duplicate customer experiences for each of its markets.

Increased customer base, margins and sustainable annual growth

The company now has over 100 employees and reaches more than 700,000 customers each year; profit margins are at 25% and increasing. The company has experienced superior market share, revenues well into double digit millions and a 40% annual growth rate from 2007 through 2010.

Consulting Company

Client Situation

In early 2009 a three person consulting spin-off of an established business needed a new and effective web site to establish identity and credibility in three weeks to leverage scheduled speaking engagements.

Markets defined, objectives set, content and graphics completed

Three key target markets were defined, client supplied market information was used and interviews were conducted to assist in setting objectives for the business and the role the web site would play in achieving them. DMR&C originated and completed the content for the site with three rounds of edits with the client. Meanwhile, the graphics and web site itself was set-up expertly by Petro Design Co. and the project completed in three weeks.

Quick, simple, effective web site in three weeks

The company’s credibility and identity goals with its customers were achieved with this site. Website has remained fundamentally the same since 2009 as the business continues to grow.

Quest Diagnostics

Client Situation

Quest Diagnostics, with 2,000 clinics around the United Sates, needed to answer some important go / no go questions about entering the $20 billion clinical trials management software and lab consulting market while increasing certainty about its future.

Best-in-class defined, market valued, study designed, recommendations made

Specific descriptions and capabilities about the best-in-class clinical trials management software and incumbent companies were developed. Existing research was evaluated to determine the market size and value. Personas were developed representing all users and beneficiaries of the future software system. A statistically valid study was developed. People representing all personas and decision makers were interviewed about the proposed capabilities, present competition, value of lab consulting and attributes of appeal / unmet needs. The implications, competitive impact, value and recommendations to Quest were clearly articulated in writing and presentations. A customer experience development roadmap was included.

Risk reduced decision made, new strategy, more effective communications

While specific results and actions are proprietary, Quest was able to make a risk reduced decision about entering the clinical trials management software and lab consulting market. They were also able to formulate a new strategy including a more effective way to communicate value and connect with people in its markets.