Transitioning to subscription (SaaS) and
doubling profit for NeuroTech Co
by Anuar Heberlein
NeuroTech Co wanted to identify sales
channels for its new EEG product and define
pricing strategies for its offering, a medical
device with a software component.
NeuroTech Co, one of North America’s leading neuro-technology medical
device companies, engaged StrategiaGTM to identify new distribution
channels to market their newly launched product, a Time-locked EEG device
(ERP) with a Software component.
OUR SOLUTION
Channel and Technology Identification
Through market research, StrategiaGTM identified those channels that would
likely conduct the highest volume of cognitive assessments from Executive
Health Clinics to Private Hospitals and Contract Research Organizations
(CROs), and the technologies utilized in each of these channels, going from
pen and paper tests to CT scans and MRIs.
Validated findings with +15 SMEs
Over 15 interviews with Subject Matter Experts were conducted to validate
findings, and to better understand the qualitative deal breakers for EEG
technologies.
CLIENT IMPACT
Successful Implementation of Subscription Model
From StrategiaGTM’s research, it was identified that Contract Research
Organizations running Phase III and IV clinical trials conducted thousands
of EEG tests per trial and had a perfect market fit with subscription models.
As a result of this, NeuroTech Co successfully implemented a subscription
model offering (SaaS), disrupting the traditional medical device sales
model, while at the same time growing NeuroTech Co’s revenue by 1.5x.
Doubled Profit
Adopting the Software as a Service (SaaS) model allowed NeuroTech Co to
generate 2x profit against their traditional device sales model.
A Top 3 Cloud vendor wished to
validate the appetite for a new
product and service offering for
enterprise customers. The
company asked StrategiaGTM for
help.
A global FinTech needed to
transform its Sales Org and
Go-To-Market strategy to
leverage platform selling. The
company reached out to
Strategia Partners for help.
