Case CompetitionChase Hudson, Matt Rice, Matt Liu,

David Wright, James Olmstead, Macaulay Smith

Methodology

Recommendation

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Summary

Domo wants to stay relevant and differentiate itself from the competition

Complications of creating a Go-to-Market Strategy includes a competitive BI Market, Domo appeals to a variety of markets, product differentiation, and how the value information is limited to its users.

Research

Methodology

Application

To give Domo an advantage in a competitive BI market, they should not limit themselves to just one industry nor should they change their product. They should however brand themselves as more than a BI product, utilizing their full product potential developing personal value, collaboration and stronger leaders to consumers.

Domo is currently looking to increase seats, and maximize implementation. Through a product training model, Domo will appeal to more customers,increase conversion rates and implementation as they increase perceived value of their product.

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The industry is just beginning to tap into its growth potential, and during the next five years, increasingly powerful predictive analytics tools will unlock business insights, driving revenue at an average annual rate of 3.4% to $33.3 billion in 2019

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Problem

Adoption and Success

Leads/Sales/Marketing

Implementation/Conversion

To maximize output (adoption and success) DOMO needs to maximize input (the number of leads and sales) and increase conversion rates.

Application

SituationSituation

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Problem

Domo should not focus on one industry

From looking at the wide range of clients that Domo currently serves and various research, we concluded that focusing in on a particular industry or market would limit the growth potential of Domo.

Every industry needs what Domo has to offer; because Domo has such an incredible product, the focus should not be on the where, but the how.

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Domo should not change their product

After seeing a demo, one CEO of a public company echoed that sentiment saying, “I’m going to die if I don’t get this before the end of the year, or someone else will die.-DOMO Press Release Tuesday, November 19, 2013

Domo is already very unique in that it goes beyond BI and analytics. The product is unique from the competition and serves as a very effective tool for business leaders and decision makers.

DOMOOther BI

MobileEMEA, Regional Director

Product AdvertisingSecurity

Mid Market SalesCorporate Development

Infrastructure Engineering

Product DevelopmentPublic Policy Regulators

Brand DesignTreasury

EngineeringSoftware Development

Communications and Marketing

Security ServicesPartnership and

MarketingGlobal Marketing

SolutionsHuman ResourceBusiness AnalystCEO & Chairman

DirectorsCFOCIO

COO BI Analysts Reports Best PracticesData WarehouseCollaboration

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Looking at current marketers responsibilities, we found that 90% of respondents said that branding and positioning were the most important.

We know Domo wants to increase seats and conversion through sales

We know we need to find what makes Domo unique and create it’s niche in the market. Domo needs a Unique Selling Proposition - Something the competition doesn't offer.

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Application

We looked at the core of Information Systems

An Information System (IS) is a system composed of people and computers that processes or interprets information.

Station

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We recommend that Domo focuses in on how their technology can build value for the people and the company for which they serve.

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Solution: More focused positioning through new product training model to sales team

Given the lack of public information on the current product training model, we developed what we thought would help customers perceive the most value in the product.

This Model will focus on three main components to build an emotional connection to the brand and product:

Personal Value

Collaboration

Decision MakingApplication

Situation

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Recommendation

Summary

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Engagement

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Problem

Increased Perceived Value

Make an Emotional

Connection

Personal Value

Perceived Brand

Application

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Engagement

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Non-Customers see Personal Value

Percentage of Respondents who see Personal Value, Brand Value, and Business Value

Probable Purchase Outcomes Buyers who see personal value and those who do not

Personal Value is the combination of professional, social, emotional, and self-image benefits

Perceived Brand

Application

Situation

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Application

Engagement

Methodology

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Problem

Personal Value Trumps Business Value

1. Business value—Includes appeals to logic/reason in areas such as functional

2. Personal value—Includes emotional appeals in areas such as professional benefits, social benefits, emotional benefits, and self-image benefits

Personal Value

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Elephant Rider AnalogyEngagement

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Rider(Business Value): Our conscious, rational brain that tries to rein in the elephant (instinctive desires) but more often simply post-rationalizes emotional impulses

Elephant (Personal Value): Our intuitive, emotional mind that often drives decision making, overpowering the rider’s efforts

Domo will focus in on the personal value that is created from the product. This personal value is much more influential in the buying decision than the Business Value. This focus will emphasize consumer benefits over product benefits.

Engagement

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Application The idea flow from the human spirit is absolutely unlimited. All you have to do is tap into that well. I don't like to use the word efficiency. It's creativity. It's a belief that every person counts. -Jack Welch

When business value and personal value come together. Domo’s perceived brand value increases. Domo’s crucial role is to show that their product makes every employee in a business important, rather than just another BI system.

personal value includes: Includes emotional appeals in areas such as professional benefits (e.g., being a better leader, simplifying my life), social benefits (e.g., fitting in with colleagues, admiration from others), emotional benefits (e.g., confidence, excitement, happiness), and self-image benefits (e.g., doing good for society, feeling of accomplishment)

Engagement

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Recommendation

Summary

Problem

B2B Buying is very Personal

A greater proportion of B2B customers are emotionally attached to the brand they purchased than B2C consumers

The more personal risks a purchase entails, the more emotional buyers feel—and the more they attach to brands that can provide value and eliminate risk

Making an Emotional

Connection

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Personal Benefit

Product Benefit

Personal Value

Product Feature

Collaboration

Best PracticesData Warehouse

BIAnalytics

Customizable

Real time data

Easy to use

DOMO creates dashboards that prepare me to make decisions

I feel more connected to my career and more educated in my position

Any product that sells needs to deliver personal value

My employees are more confident in their decisions and are empowered

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WHY?

“Every individual, department and organization make the decisions”

Informed Decisions solve problems which create profit.

Poor decisions have consequences and often occur due to lack of information.

In a survey by SAS, 84 percent of respondents said they used analytics and data in their decision-making process

Engagement

Methodology

Recommendation

Summary

Problem

Creating Informed Decision Makers

Domo Appeals to All Decision Makers“Faster and more informed decision-making”

Application

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Creating Informed Decision MakersSituation

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Engaging every employee is critical to DOMO’s success and adoption. The more reach they have the faster they will expand.

Employees are a company's greatest asset therefore DOMO is a tool that will help educate and inform your employees. DOMO will assist in turning your workforce into a more confident men and women; more confident decision makers.

Tuckman’s Model of Team Development

Collaboration

Enable

Have the taskforce participate in mock scenarios in presenting how Domo’s product helps consumers work jointly together.

Explain

How Domo’s product enables users collaborate effectively within a business

Demonstrate

Use videos, product demonstrations, and application to show how to Domo’s unique product helps collaborates business tasks

Guide

Let the learners practice what they have learned about how to explain why collaboration is important

Situation

Methodology

Recommendation

Summary

Application

Implementing the E.D.G.E model in training will create more brand value for the customer.

“No company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.”

- Jack Welch

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Business Collaboration

39% of surveyed employees believe that people in their own organization don’t collaborate enough.

97% of employees and executives surveyed believe that lack of alignment within a team directly impacts the outcome of a task or project.

86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures.

Application: An essential part of the training model will be teaching Domo’s sales team how a collaborative business can

Application

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People work better when everyone has the dataNearly half of execs whose companies had made more data available agreed that collaboration across business units and departments had increased. Making data more available and usable also helped with speed and efficiency in many areas.

The more collaboration, the more confidence and education there will be. The better the business will thrive.

Engagement

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Summary

Problem

Application

Situation

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Let DOMO’s culture dissolve into others. DOMO’s culture can be contagious with other companies and they will recognize that there is a change, leading to more seats.

Usually it is left up to the C-Level or other leaders to create the culture but with teaching the accountability of using the data you can create a culture of leadership to all who have the access to the data and watch as your employees grow and thrive.

Engagement

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Summary

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DOMO can become part of a company’s culture

Application

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Key Takeaways

Application

Situation

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Summary

Application

Domo’s vision is to going to make the data work for customers by creating better leaders and decision makers.

Domo will increase conversion rate by positioning itself in the minds of customers as more than just a BI product.

Domo will implement a new product training model to emphasize this renewed position

Domo is going to spend their dollar differentiating itself from the competition and appealing to a larger market segment by helping customer see that they create leaders, educated business people, and stronger unity and culture within every company they sell to.

End

AppendixElephant Rider AnalogySource: Jonathan Haidt, The Righteous Mind: Why Good People are Divided by Politics and Religion (New York: Random House, 2012); FILE:Bombay road elephant.jpg, Wikipedia, 31 January 2006, http://simple.wikipedia.org/wiki/File:Bombay_road_elephant.jpg; CEB analysis.Business Collaboration StatisticsSource: Sylvie Wolf, 7 Workplace Collaboration Statistics That Will Have You Knocking Down Cubicles, 19 Aug. 2014, http://blog.clearcompany.com/7-workplace-collaboration-statistics-that-will-have-you-knocking-down-cubicles

Appendix cont.From Promotion to Emotion Connecting B2B Customers to BrandsToday’s marketing environment is increasingly crowded, noisy, and commoditized. In response, B2B marketers are turning to branding to win preference, purchase, and premium pricing. A recent CEB poll of 55 CMOs identified branding as the second highest priority for marketing executives in 2014. (The number one priority listed by those CMOs is insight-led marketing. For more details, please see p. 11). Recent CEB research has demonstrated the value that branding can create for B2B marketers. Customers with strong connections to B2B brands have higher rates of consideration, purchase, and willingness to pay a premium (Fig. 1). We identified “high brand connection” customers as those who gave brands top-quartile scores for trust, image, and industry leadership. In other words, these customers feel confident using the brand, believe that the brand is a global leader in its industry, and see a unique and positive imageBuyers who see a supplier’s business value are four times more likely to consider that brand in the future (Fig. 3). In fact, business value has become a prerequisite for consideration. Most buyers who don’t believe a brand will deliver business value simply won’t even consider purchasing from that brand at all.The decision-making insights represented by the story of the elephant and rider raise the following important question for B2B marketers: does the rider (logic/reason) or the elephant (emotion) have greater impact on B2B commercial outcomes? To explore this question, CEB partnered with Google and Motista to test the impact of over 70 brand benefits on a broad range of commercial outcomes. The brand benefits tested included two categories of attributes that are critical to our understanding: 1. Business value—Includes appeals to logic/reason in areas such as functional benefits (e.g., high performance, structure/order) and business outcomes (e.g., achieving business goals) 2. Personal value—Includes emotional appeals in areas such as professional benefits (e.g., being a better leader, simplifying my life), social benefits (e.g., fitting in with colleagues, admiration from others), emotional benefits (e.g., confidence, excitement, happiness), and self-image benefits (e.g., doing good for society, feeling of accomplishment). To assess the relative impact of these two benefits categories, we analyzed their lift on 14 commercial outcomes (Fig. 8.), including consideration, purchase, premium payment, and advocacy. The data show that across this collection of commercial outcomes, personal value has twice as much impact as business value does. Not only do emotions matter in B2B buying, but they actually matter even more than logic and reason. This finding highlights a potentially untapped opportunity for marketers to reposition brands around personal value.

Appendix cont.Business Collaboration StatisticsSource: Sylvie Wolf, 7 Workplace Collaboration Statistics That Will Have You Knocking Down Cubicles, 19 Aug. 2014, http://blog.clearcompany.com/7-workplace-collaboration-statistics-that-will-have-you-knocking-down-cubicles

B2B MARKETERS STRUGGLE TO CONNECT CONTENT MARKETING WITH BUSINESS VALUE JULY 16, 2014Most B2B marketers have wised up to the value of content marketing, but many are still early on in the journey from product-focused to relationship-building content marketing. According to the 2014 Forrester Research/Business Marketing Association/Online Marketing Institute study, Compare Your B2B Content Marketing Maturity, while 51% of B2B marketing leaders rate their content marketing practices as very mature, an overwhelming 85% fail to connect content activity to business value — and, as a result, fail to retain customers or win their long-term loyalty. In fact, when asked to look back at the past 12 months and rate the effectiveness of content marketing efforts, only 14% of those surveyed gave their content practices high marks for delivering value back to the business.

Currently, content production: Fails to highlight how products and services help customers become successful. While 71% of surveyed marketers say their content features case studies or customer stories, only 3% admit this is a primary focus of their efforts. Lacks forward-leaning insights that buyers can turn into action. Only 12% of respondents make publishing research and perspectives the main focus of their content marketing, and no one said they engage external experts to validate those ideas. Focuses on closing the deal, not on building relationships. While more than three-quarters of respondents say they frequently communicate to their customer base, only 5% make this a priority, proving that marketers are too focused on acquisition rather than long-term loyalty.