by Taivara, Technology Innovation
Will it Fit?
A client was looking to turn existing intellectual property into a cybersecurity product. They asked Taivara to see if it had a realistic chance at being a sustainable product line.
Taivara uncovered two potential markets, in a previous Opportunity Assessment — IoT devices and enterprise security.
Research indicated a market need for the product. We suggested that the client test how the markets would react before fully investing in launching.
They engaged Taivara to do some Fit-Testing.
Taivara identified potential customers. We developed messaging around the product and conducted in-depth interviews to test the value proposition.
Our goal was to see if the customers felt enough motivation to pursue stronger security measures, as well as determining the optimal messaging for the product.
The insight we gained was very valuable. The new information allowed us learn which markets were ready and which weren’t.
Even though competition in the enterprise space was high, we determined that there were still unmet security needs. We decided this market was attractive enough to pursue.
The needs of the IoT space still looked promising, however, we saw that most companies were relatively small and new. They were often strapped for cash and top-level security wasn’t a necessity for them at the moment. We advised them to keep this target in their back pocket for when the market matures and more capital becomes available.
We came to the conclusion that messaging the product as a “frictionless security solution that was consumer ready and enterprise capable,” would receive the optimal response from future customers.
The Next Steps
With the new target market and the new messaging identified, the client greenlighted the next phase of the project: Product Development.
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