Service Offering Definition, Validation, Market Opportunity & VoC Assessment
Situation
The client wanted to better understand the market opportunity for data & privacy needs (with a lens on broader cyber & risk) related to third-party cookie deprecation/signals loss in advertising and marketing.
The client was seeking to validate the customer data resilience market definition, client needs, and competitive landscape as well as to test potential service offerings with a focus on the data & privacy needs.
Objective
The objective of Phase I was to assess market dynamics & size of the cyber data and privacy market. In addition, key client needs & pain points, as well as the competitive landscape were examined.
During Phase II, the objective was to test proposed service offerings in the market. Particularly to gather market feedback on customers’ interest and readiness, level of differentiation, and our client’s positioning in the market.
Our Work
During Phase I, 10EQS assessed the data privacy market including market size & growth dynamics, particularly related to 3rd party cookie deprecation. Further, 10EQS assessed customers’ unmet needs and current spending for data governance & privacy requirements pre and post 3rd party deprecation. In this context, 10EQS defined various customer segments and their respective needs.
10EQS additionally evaluated competitive offerings for data governance & privacy services and assessed the client’s market positioning.
In Phase II, 10EQS tested the client’s service offering for desirability. For each offering, 10EQS assessed customers’ interest and perspective on appealing & missing components.
Project Team
- Ex-BCG Management Consultant with professional services experience & strong background in marketing
- Ex-Bain & Co. Management Consultant with extensive experience in professional & technology services
- 3 Associate Consultants conducting secondary research & supporting content synthesis
- 10EQS Delivery Operations (=PMO) providing quality assurance, process management and expert recruitment
- 20 industry experts (10 experts for each phase)
Industry Experts – Phase I (sample)
- Chief Marketing Officer – Biopharma Company
- Chief Information Security Officer – Media Company
- Executive Director for IT Cloud Security Architecture and Risk Management – Financial Services Company
- Chief Technology Officer – Media Company
Industry Experts – Phase II (sample)
- Chief Information Security Officer – Technology Company
- VP Enterprise Data and Data Products – Retail Company
- Chief Insights & Marketing Officer – Financial Services Company
- Cybersecurity, Risk and Regulatory – Data Governance and Privacy Leader – Data & Privacy Services Vendor
Results
Based on insights from Phase I, the client developed an offering for data & privacy services. 10EQS then validated said offering with customers in the marketplace in Phase II. As a result, 10EQS defined critical success factors, key buyer personas, and provided recommendations to refine the client’s service offering.
Please reach out to us if you are interested in learning more.