Entering New Markets with the help of Business Model Innovation Case Study

Company Background

Elevation LogoElevation Construction Network is a new award winning, business mentoring and development network for companies operating in the construction sector.  The first branch opened in Wexford in February 2016 and consists of 38 non- competitive members.

The Challenge

The company was trying to replicate the construction network established in Wexford in other regions in Ireland where they were unknown.   They needed assistance to innovate and develop their business model and value proposition to ensure adoption in these new markets.

RIKON’S Assistance

RIKONRIKON undertook a literature review, extensive research into the external environment, and industry trends and competitors best practices in Ireland, UK and Continental Europe.  RIKON reviewed the European market to find assistance and contacts that could be used to by Elevation Construction Network to make their offering more attractive to prospective members.

The Solution

RIKON assisted Elevation Construction Network to identify not just what potential member might want but what they needed based on the critical problems they were facing so that they could find solutions that could be introduced as member benefits that would enhance their value proposition.   In addition, we developed a structured approach for Elevation Construction Networks route into new markets.

Benefits for Elevation Construction Network

Elevation Construction Network now have a business model structure that delivers a value proposition that meets their members needs and has solutions for their members problems.  They also have a more structured and focused route to new markets so that they can replicate their Wexford award winning network in other regions of Ireland.

Ronan McGrath from Elevation Construction Network

I found RIKON of real help to my company by helping us understand our customer needs and route to market and also how to target our customer market more in-depth.

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