A global biometric and Out of Band (OOB) authentication company was expanding across industry verticals including border security, public safety, and enterprise payment transactions and banking. Liminal was engaged to provide a competitive landscape analysis and to help the client enter new markets with a distinct competitive advantage.
Creating a well-defined business case highlighted the difference in capital requirements required to support expansion across the private sector vs. public sector. Liminal recommended that the client focus its growth strategy by tailoring its product offering to the markets and industries that had the greatest success rate for adoption. The engagement included assessing existing peers across various factors including specific product offerings, type of solution (e.g., white-label, SDK, federated) and the competitive advantage of each.
Liminal performed a product and market segmentation analysis to identify the target platform’s ideal customer base and the international markets that posed the highest likelihood for widespread adoption. To refine the business case, Liminal highlighted the potential costs and risks, including the R&D costs associated with market expansion, user experience requirements segmented by customer groups, and resources needed to support marketing and education.
Expanding across new markets and industry verticals simultaneously posed significant operational costs, resource constraints, and adoption risks. The original strategy would have resulted in a generic offering, struggling to gain the trust of new business customers. By refining the business case, our client was able to establish a roadmap that would position its integrated platform to meet the trust and safety needs of multiple industry verticals within a narrowly defined market.