A healthcare SaaS company partnered with GreyRadius for Go to Market strategy to expand globally

Learn how a healthcare SaaS player utilized insights from GreyRadius Consulting to craft an effective go to market strategy encompassing sales, marketing, and product development.

Overview

Founded around five years ago, with over 70 employees in the Middle East, the UAE-based SaaS company has a strategic focus on expanding its product offerings beyond its existing UAE market. It provides claim payment solutions including claim settlement, cashflows management, and payouts management, for healthcare organizations and payers.  The Company’s Head of Strategy, and Head of Growth (Commercial) is looking forward to a Go to Market Strategy to expand into the international markets and to explore new regions to enter the GCC.

Key Challenges

Despite having a preliminary go to market strategy (GTM strategy) for entering new markets, their initial plan required validation and fine-tuning. While they had outlined key planning areas, their expansion strategy lacked the concrete and actionable GTM planning necessary for realistic market entry and expansion.

Additionally, their visibility into the competitors’ sales and marketing strategies was limited. Their entire new product launch strategy relied heavily on secondary research and insights from channel partners who had existing collaborations with their competitors in the same market.

Before the GreyRadius approach, their expansion plan primarily centered around marketing, sales through channel partners, and administrative actions. However, it lacked critical insights into their competitive landscape. 

It failed to provide key information such as the optimal region or location for market entry, a compelling value proposition, essential product features, positioning strategies, and an effective overall marketing strategy.

To address these challenges, they sought a strategic partner capable of leveraging competitive market intelligence to develop a comprehensive and data-driven go to market planning grounded in a deep understanding of the market and competitive dynamics.

GreyRadius’s Solution

After a thorough evaluation of various market research and consulting firms, they selected GreyRadius Consulting as a strategic partner to tackle these challenges, and create well defined go to market strategy. GreyRadius structured their approach into a three-step process:

Step 1: Gathering of Information

In this initial phase, extensive information gathering took place across three critical dimensions:

  • Competitive Intelligence
  • Customer / Buyer Intelligence
  • Market Intelligence

Over 70 interviews were conducted, engaging various stakeholders and leadership teams, including potential buyers, subject matter experts, competitors, and key accounts. This process encompassed detailed market assessments and the formulation of a concrete go to market planning strategy based on competitive strategies and market insights.

Competitive Intelligence: GreyRadius conducted assessments of their top-tier competitors, focusing on their value growth within a similar domain. Analysis encompassed key strategic growth parameters, including market expansion, sales and marketing tactics, pricing mix, and growth strategies. Insights were derived from a blend of secondary and primary research, involving interactions with key leadership teams and subject matter experts.

Relevant sources included the tracking of sales collaterals, sales pitches, emails, and case studies. GreyRadius also delved into their competitors’ marketing strategies and product differentiations by reviewing targeted campaigns and selected media channels.

Buyer Intelligence: GreyRadius conducted interviews with prospects (potential customers) in new regions to analyze consumer behaviour and expectations. This helped us understand the buyer pricing dynamics and related variables. Research extended to product/solution budget allocation and the purchasing process, including product adoption criteria for various buyer segments and use cases.  

Market Intelligence: GreyRadius performed a comprehensive analysis of the market landscape and industry to explore new market opportunities and assess their potential. This involved breaking down the target addressable market, serviceable market, and obtainable market. Market segments were further defined based on product/solutions segmentation and deployment/utilization scales.

 

Step 2: Defining the Report Structure

GreyRadius outlined an actionable report structure, including a comprehensive go to market strategy. We developed a project launch model, a market entry plan, and a strategic ambition covering a 6-18-36 months timeline. This encompassed revenue targets, valuation achievements, progressive growth projections, and geographic guidance.

The output focused on targeting top-line growth aspirations and designing appropriate pricing strategies. User segments, personas, sales plans, and pricing strategies were defined based on insights from previous phases. A holistic go to market planning was crafted for 6-18-36 months, providing a detailed view of product marketing in new regions, considering various parameters, opportunities, and challenges. 

This consolidated plan covered sales strategies, marketing tactics, pricing models, regional entries, and prospective partner identification.

Market entry segment card (a part of the comprehensive GTM strategy report)

 

go to market planning

Step 3: GTM Enablement Plan

GreyRadius Consulting designed key elements to execute the GTM strategy effectively. This included an action plan for establishing expansion strategies aligned with the product requirements, sales targets and channels, operations setup, financial implications, budgeting, team structure, potential business, growth, and expansion pathline, and a detailed marketing plan. 

 

“The GTM plan shared by GreyRadius is too detailed and actionable…we are thankful to the team for giving deeper insights around the competitive landscape for the Saudi, and the GCC4 regions…liked the depth of information covered with the validation process…We feel like we now understand the overall market preferences for our healthcare claim settlement solution.”

Chief Strategy Officer, the UAE-based healthcare SaaS solution provider

Impact with go to market strategy

6 months

Saved half a year by bypassing the need for a market pilot, gaining rapid insights into the market potential and the competitive landscape.

2.8x

Achieved revenue that is 2.8 times greater than the anticipated revenue due to a well-informed sales and marketing strategy

The impact of GreyRadius Consulting’s efforts became evident within the first four months following the report:

  • Establishment of an Office in Saudi (Jeddah): They successfully set up an office in Saudi Arabia, specifically in Jeddah, marking a significant step toward expanding our presence in the region.
  • Formation of a Dedicated Team: They assembled a team of 8 executives, emphasizing their commitment to the new market. This team plays a crucial role in executing a go to market planning strategy effectively.
  • Improved Budget Allocation: They are now equipped to allocate budgets with greater precision and foresight, thanks to the insights provided in the report. This enables them to make informed decisions about resource allocation and financial planning.
  • Clear Growth Plan: Their leadership team has gained enhanced clarity regarding their overall growth plan. This newfound clarity allows them to set more specific and achievable growth targets, ensuring that they allocate the necessary financial resources accordingly.
  • Conversion of Channel Partners: During the initial 4-month period, they successfully converted 3 channel partners who will support their sales activities and act as dedicated system integrators across different regions.

In summary, the impact of GreyRadius Consulting’s efforts has resulted in a swift and strategic market entry, improved financial planning, and the formation of valuable partnerships. These achievements lay a strong foundation for the healthcare SaaS solution provider’s continued growth and success in the new market.

About GreyRadius Consulting 

GreyRadius is a management and strategy consulting firm that provides actionable insights for sales, marketing, and strategy teams across organizations. We leverage competitive market intelligence frameworks for corporate strategic planning. 



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