New service developed
“The Innovation Sprint Programme helps you step back and re-evaluate if you are doing the right things for the right reasons. Our business was busy, but not growing. The Programme provides you with the time to turn off from the day-to-day distractions and really focus on your challenges and opportunities and develop a real solution. We would highly recommend the Programme, but do it now. If we had engaged in this great fully-funded opportunity months ago, just think where our business would be right now.”
Chris Hunter, Director – HM Network
HM Network completed the programme and developed a new service:
- A new three-tiered service offering customers better value for money
- Developing new hardware that is monitored remotely
- Employing an Edge Hill University student to support the development of the hardware
- Creation of new marketing materials for the new service and product
Martin and Chris have ambitious plans to grow and increase profitability within the organisation. Before they began the Innovation Sprint Programme at the Productivity and Innovation Centre, the duo realised in order to achieve their scalability and profitability objectives there where key challenges that needed addressing.
After collecting and analysing the business data it was clear that Martin and Chris needed to re-define their core business service, identify clear routes to market and offer a new appropriate business model.
Initially Martin found the Programme challenging and realised there was so much about the business service and customers pain points that HM Network had not previously considered.
Martin and Chris discovered valuable insights into their customer profiles, routes to market and their competitor services and price points. At times, they faced a high level of uncertainty that needed addressing in order to build, break and shape their final solution.
The HM Network team worked with business experts from the University who facilitated the workshops using structured innovation frameworks and tools to help clarify their challenges and define their new concept.
HM Networks soon realised that they also needed to understand more about their own accounts in order to make accurate forecasts. Martin has since been on a finance course to address his identified skills need.
The Solution & Outcomes
After completing the Programme, HM Network were able to re-focus with confidence. They have introduced a new tiered and structured service offer, with underpinning business model into the business that they did not offer to their customers before.
The new tiered service offers three bundled service packages that generate recurring revenue. Bronze (standard), Silver (enhanced) and Gold (premium). The new service model is flexible and offers customers value for money by only paying for what they need.
As a result of the Programme, HM Network are also developing new hardware, a product to add to their bundles package offer. It is planned for launch in January 2019. This cost effective product is easy to install and can be monitored remotely.
The team have also introduced a new pricing model to the GDPR services that it offers.
Plans are underway to introduce new marketing collateral to reflect the new tiered service offer, pricing structure and hardware product and updates to the content of their website is imminent.
The Programme has really helped the business to develop a new service and hardware product and has offered them opportunities to build a long-term relationship with Edge Hill University. HM Network plan you employ an Edge Hill student to support the development of the product.
Get in touch
Contact us to book a consultation with a member of our Business Development Team or to find out more about the Productivity & Innovation Centre: