Commercialisation is an offering of our Business Strategy Services.
Commercialisation is the process of looking at a new business, brand, service, product or even communication opportunity and forecast how it will land in market. Ultimately, the end goal of commercialising is to deliver return, results… aka ‘The Big P’; Profit. However, it should be considered that not every product is fit for commercialisation and that evaluation should be bullet proof tested before you spend big bucks on the complete business roll-out.
We provide insights around your industry and category, from a traditional business perspective, and dial up the digital competencies (after all we are a digital agency). The world is so geared to digital that some of the largest business drivers sit in the digital and online landscapes. The biggest gaps that we will realise are always elephant(s) in the room around digital success, and when these are overlooked you will be doomed for failure.
On one end of a massive scale, your product might be totally unique and require education in the market – but on the other hand, the market may already be totally saturated. For example, when it comes to FMCG, such as cosmetics, there are so many different brands, product variations out there, so – where is your territory? Finding that niche or point of difference that can drive a product into strong, positive commercialisation can be a game-changer. Aligning the product, communication and digital approach into a symphony is essential. Otherwise, you are just creating a lot of expensive noise.
Our strategy always places aggressive returns at the forefront of every decision, so if our scientific approach suggests that commercially it will not be profitable, we’d much rather land on that conversation and justify it, than see you spend much more on the actual business rollout.
At AndMine we create data-driven forecasts and undertake comprehensive research of the market landscape, including commercial competitor analysis. We tailor the commercialisation process specifically and exactly how it would land in market and more importantly, what the response will look like.
This is not just about physical businesses and products either – our processes can also handle ‘communication’ as the product. For example testing and building the communication structure of the Victorian Government’s Family Violence Campaign. Post launch, VIC GOV surveyed it to be one of the most successfully developed government sites – why ? We market tested high-fidelity prototypes to mitigate failure and bullet-proof the communications, to find those elephants and make sure the everyday visitors, organisations and government visitors to the site could see them immediately! In digital you have seconds to get your message across, it must be aligned to what people already understand from their point of view.
To determine that commercialising your product, service, business or communication ‘X’ will be profitable, our services include but are not limited to; developing the overarching strategic approach, comprehensive business plans, competitor and territory analytics, budget forecasting, internal and external resourcing, pitch decks and information memorandums (IMs), initiating venture capital discussions/JVs, and the assistance from any one of our digital services as needed to roll out the ‘X-Factor’. What really makes us stand out from the crowd is our capacity to tell you exactly how these real-world elements can be turned on, at the same time, we aren’t shy to say NO. Of around 19/20 startup ideas, we’ve shown our clients why they won’t work and to head back to the drawing board. Those that make it through have a robust business, financial and digital roadmap.
To find out how AndMine can help you with commercialisation, get in touch with us here.