Our client, a growth-stage medtech company, required a business case / return on investment (ROI) model to demonstrate their value proposition in interactions with sales prospects, to bolster and accelerate sales of their preclinical scanner.
As part of a multifaceted project, TTi assessed key factors associated with the use of currently available, competing technologies by prospective customers. In-depth interviews with current and prospective customers identified by the client were conducted, and usage metrics as well as perceived advantages and disadvantages of using existing preclinical scanners in research endeavors were examined. Findings from these interviews allowed the client to gain a deeper understanding of advantages, challenges, and barriers to the adoption of their preclinical scanner technology; key cost drivers essential to promoting adoption; variability in current protocols related to the use of competing preclinical scanners; and unique insights from prospective customers regarding additional factors that will influence adoption of the client’s technology by their institutions. These findings, as well as pricing, features, benefits, usage metrics and other information provided by the client were used to develop two-interactive models (one for each of their customer segments: pharmaceutical manufacturers and research institutions) conveying customer-perspective costs associated with use of existing preclinical scanners vs. anticipated costs of utilizing the client’s technology in research endeavors.
As a result of TTi’s efforts, the client gained insights to inform future marketing efforts and strategic goals and was able to leverage data-driven ROI models to provide key customers with comparative annual costs and ROI metrics associated with the acquisition of their preclinical scanner to influence decision-making in their favor.