DKI Ltd. have been developing and selling software products in the Educational and Business sectors for over 50 years. The company have financed the business almost entirely from sales from the beginning and built up a recurring revenue figure which accounted for over two thirds of their annual revenue.
DKI Ltd. had built tailored cloud based CRM systems for a number of years and in 2014 developed MindaClient – a unique product that could tailor for different sectors.
“We require the expertise of RIKON’s business model innovation experts in order to finalise our pricing model to meet the needs and requirements of newly identified customers”
DKI Ltd had just completed a business model innovation voucher with RIKON that helped them to refine their value proposition and define the customer segments.
They became able to position themselves into the marketplace as a niche provider who understands the SME market and were willing to start engaging with a CRM system more actively. This differentiated the company from their competitors who mostly went for a high volume, low customer care approach.
However, DKI Ltd. needed assistance in determining the most suitable communication channels to target the desired customer segments. It was also vital to establish the guidelines for the content marketing strategy, which DKI Ltd. intended conducting in near future.
This project was approached in accordance with RIKON’s bespoke Innovation Process comprising of five phases:
Explore: Detailed review of the pricing and revenue generation models, review of communication channels.
Reframe: Analysis of the external environment and industry trends. Best practice analysis in the field of content marketing.
Ideate / Visualise: Creation of the content marketing strategy and utilisation of the communication channels.
Strategise: Final set of recommendations aimed at addressing the areas of content marketing, lead generation and brand awareness techniques.
RIKON conducted an in-depth analysis of the communication channels and tools within the industry in order to get a better perspective of the most efficient means, which could be used to convey the value proposition and brand identity across to the potential customers. Considering DKI Ltd. had limited resources, it was vital to establish those channels and develop a coherent content marketing strategy.
Detailed report was presented to DKI Ltd. with a number of opportunities identified during the course of works, which addressed the issues of pricing model and leads generation, resulting in a much more efficient approach to the market.
Benefits for DKI Ltd.
The project brought the following benefits to DKI Ltd.
DKI Ltd were enabled to target the SME sectors they have previously identified as holding the most opportunity.
The new business model is able to support the company’s overall business strategy by synchronizing company’s resources.
Ability to optimize the value delivered to and received from the customer, thereby enhancing the revenue of the business.
Brian Kelly from DKI Ltd …
“We found the project and team at RIKON to be of great benefit to MindaClient as we embark on our growth path. Staff at RIKON have great knowledge and expertise in the Digital media space but more importantly they imparted the knowledge in a practical way and showed how it could benefit MindaClient.”