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Repositioning A Healthcare Technology Portfolio

Prior to founding Edison Road, David Harris served as Vice President of Brand Management for MedAssets, among other roles in his career.  This case study is from that time.

Background

MedAssets, a leading healthcare industry revenue-cycle management and group purchasing organization, had expanded its revenue cycle software solutions significantly over the years.  As the portfolio of offerings expanded, the synergies realized by the portfolio were more difficult for the market to understand and the full value the company could bring to the industry was difficult to distinguish.  As a result, the company was looking to re-brand it's business and reposition its growing portfolio of solutions.  A successful branding/positioning initiative would create a better understanding of the value of the portfolio among internal MedAssets employees, with a focus on the sales team.  Externally, success would be measured in greater up-sell and cross-sell opportunities in addition to new business won. David was brought in by the CMO and COO to drive this initiative.  

assess

To craft a plan for portfolio simplification and a simplified/more focused value proposition, a baseline understanding of the product portfolio was developed, mapping product(s) to clients to gather insights into the number of products adopted per customer.  Internal focus groups were held to identify trends and inconsistencies with regard to company and product value propositions.  Customer focus groups were held to understand perceptions of the brand and related product offering.  

  • Market brand awareness study
  • Product/client portfolio mapping
  • Internal focus groups with an emphasis on feedback from the sales team
  • Customer focus groups held to understand areas of perceived value
  • Full inventory of all creative elements across all office locations

research

With research in hand, a broader cross-functional team was established and vendors were pulled into support areas of significant build such as development of the new corporate website. Consideration of required changes were evaluated by the team.  

  • Team established to consider simplified product portfolio
  • Brand team was defined to focus on new brand creative elements
  • Pricing and sales process were evaluated to consider areas of simplification
  • Team evaluated new company and product level messaging and positioning
  • Functional ownership of creative inventory was established
  • Strong partnership with sales and product teams created to provide commercial feedback loop

plan

A multi-phased go-to-market launch plan was established with shared ownership spread across the business and held by functional stakeholders.  Sub-teams were created based on areas of specific expertise and the executive team was updated regularly.  The launch timeline was refined throughout the initiative. 

  • New corporate brand guidelines were established
  • Company and product messaging was defined and documented in a communications playbook
  • Go-to-market PR and advertising plans were defined
  • New website and related online/digital campaigns were created
  • All internal branded materials and external customer touch points such as signage were slotted for updates and distribution
  • Sales toolkit was defined and related materials were set to be produced
  • Internal awareness initiatives were created

execute

The new MedAssets brand and new portfolio alignment launched on time with all locations and commercial materials updated in Day 1 in parallel to a national PR and advertising campaign hitting the market.  Internal awareness and training initiatives were also held leading up to, during and immediately following the launch.

  • Multi-faceted PR and advertising campaign, including targeted email outreach, social media, print and digital media
  • All locations and related commercial materials rebranded and hit the market on Day 1
  • Sales toolkits distributed and related messaging/portfolio training took place
  • New online presence established with initial Search Engine Optimization (SEO) efforts in place
  • Internal awareness campaign kicked off and roadmap for ongoing awareness/straining defined
  • Product portfolio and email campaign templates updated in Salesforce CRM

extend and refine

With the new brand in place, an ongoing PR and communications campaign was maintained to drive market awareness and adoption. Company and sales training continued.

  • SEO continued to be refined with Search Engine Marketing (SEM) and re-marketing campaigns slotted for use
  • Targeted email campaigns were measured for response rates with follow-up touches taking placed based on prospect/customer response level
  • Offsite company and sales training sessions held to optimize the understanding of the new product portfolio and related messaging
  • PR and paid advertising efforts were expanded with customer case studies incorporated

Summary Results

Successfully rebranded all aspects of the organization, simplifying the product offering, creating a more cohesive internal understanding of the portfolio and related value, while demonstrating the synergies and shared value of the portfolio to the marketplace. 

  • New brand guidelines and communications playbooks, new sales alignment and go-to-market strategy, signage at physical locations, and related commercial materials, new online presence, sustainable PR and marketing campaign, internal web portal
  • MedAssets purchased by Pamplona Capital Management in 2015 for $2.7B.