Our client is a ~$10B global specialized insurance and related services provider that sells across financial services segments using various routes-to-market, including brokers, agents, distributors and direct sellers.
For this initiative, the focus was on a newly created mortgage solutions division that was comprised of various acquisitions across the mortgage value chain.
The newly created division was looking at driving growth by expanding products and services along their value chain, both organically and through acquisitions. The business expected growth to be through a combination of additional acquisitions and organic growth.
The challenge for the newly created division was to align all the leaders of the separate business units around a holistic and coherent go-to-market strategy. The strategy would help the division to realize the revenue synergies across the units and to present a solutions-oriented message to their joint customers – for example, each business unit might work with a different set of stakeholders at a large bank.
Symmetrics Group Approach
Symmetrics Group worked closely with the client to understand the go-to-market strategies of each business unit, including customer targets, product offerings, and routes-to-market. The team obtained situational fluency via interviews, working sessions, document review, and listening to calls with the client’s customers.
Per the discovery work, Symmetrics Group outlined some different go-to-market options for the division, including pros and cons of each and key considerations for the leadership team. In a collaborative approach with the client, Symmetrics Group refined and honed the go-to-market model and presented it to Sr. Leadership to further enhance and improve it.
The go-to-market model was eventually presented to both the COO and CEO of the multi-billion dollar division in which the new division was created. The new division has begun to shift resources, execute on the recommended org chart and other recommendations, including infrastructure synergies, and train all of the sellers across the three units on the full ‘bag’ of products and services. One of the units is having their best year ever in terms of revenue growth, while the other units are already identifying major cross-sell opportunities across the value chain. As of this writing, the division was in major discussions at two of the top five banks in the U.S. to sell a comprehensive solution that included products and services from each of the business units.