HiTech IT and Tech
Customer study, market estimation and ‘Lite’ product design for SaaS based CRM company
04 May 2020
  • Client Description: Leading global SaaS-based CRM company 
  • Opportunity: To understand the scope for SaaS-based CRM among Indian customers and their basis for choosing a provider. Inputs to repackage offering to suit potential customers
Our approach
  • Prepared addressable market size estimation for the client’s offerings by industry verticals and size of the enterprise
  • Analyzed current adoption on CRM among Indian enterprises and expected adoption 5 years later. Drivers and barriers of adoption were identified based on key stakeholder conversations
  • Identified key industry segments based on cloud solution adoption to target during the initial phase to drive efficient lead conversion. 
  • Identified customer archetypes that are likely to promote cloud-based CRM solutions
  • Deep analysis of customer feedback on client’s and competitive offerings to understand positioning gaps and steps required to drive positive perception
  • Recommendations to refine CRM offering and inputs suggested for ‘Lite’ product design

Key Insights / Outcomes

Enterprises use two buckets of evaluation criteria: “must have” or hygiene criteria, and “good to have” criteria.

Regulated and security-conscious enterprises quote data-residency and on-prem residency as qualifying or “must-have” criteria before considering any CRM solution.

As the size of the enterprise increases, decision making becomes more complex and time consuming due to higher number of decision makers (CIO or CDO, functional heads).

TCO, vertical differentiation and integration (existing and new systems) are top three “good to have” criteria that drive consideration.

Praxis value delivered 
  • The client was able to understand the market potential and key drivers/barriers for growth among Indian enterprises
  • Competitive benchmarking and analyze customer feedback provided the client with insights on where it wins or loses
  • The client was able to repackage its CRM offerings to match customer expectations, resulting in 2x growth in revenue, compared to its competitors
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