Developing a value proposition to focus a diversified healthcare services business
The vast services business of a Fortune 500 healthcare supplier was struggling to demonstrate synergies across its dissimilar service offers and had an unclear, unfocused, and ineffective value proposition to the market. Each service offer, ranging from leadership training to asset management to operations and growth consulting, was rendered as a small boutique going against stronger competitors vs. leveraging the potential of the full suite and the powerful brand of the parent. The executive leadership heading up each division had a difficult time aligning on a unified position, how best to go to market, and what priorities should be focused on to drive future growth. This somewhat fragmented approach resulted in the company fighting below, not above, its weight, and thus, limited its growth potential.
A project team was assembled and led by a current FullSurge partner in a previous role. Early on, a framework that contextualized different options or territories to consider for a unified value proposition was established. This framework helped to illustrate how competitors were positioned, and it became an effective tool to bring the company’s divisional leaders together in healthy debate about the pros and cons of different considered directions. Through these executive work sessions and additional brainstorming around possibilities, multiple concepts for the value proposition and how each service offer could fit were created. Extensive qualitative research was conducted with target customers (hospital executives) to unearth overriding strategic priorities in the industry, gain insights into how the different value proposition concepts linked to those priorities, and important gaps to fulfill the promise made by those concepts. Not only did this enable honing in on the best strategic solutions, but it also identified service opportunities the company hadn’t considered but were paramount to their customers. The qualitative research provided great insight into how best to position the company, but three concepts of equal strength emerged, so quantitative research was conducted to determine the comparative strength of each. The results of this research gave the leadership team the confidence it needed to put forth a unified value proposition, while a good understanding for how to fit each services off, and the identification of new opportunity areas for future development.
The company launched the new value proposition into the market with a comprehensive marketing effort that included white papers, thought provoking articles, and local round tables - all reinforcing to the value proposition - and a digital outreach to increase awareness for the company’s expertise and vision for tomorrow’s healthcare.