Company Overview
An energy tech company operating in the clean energy sector sought to introduce an existing solar energy storage product into a new geographical market. The target region was unfamiliar with the technology, and the company needed data to validate if the market was ready and how best to introduce the product.
Challenge
The company faced the challenge of market readiness. The local population was hesitant about new energy solutions due to economic instability, and government incentives were not yet well-known or utilized.
Solution: Schemata’s 4-Core Framework
- Data Collection
Schemata gathered critical data, including government energy policies, energy consumption patterns, technological advancements, and consumer sentiment toward clean energy products. This data was sourced from government databases, market research, and social platforms. - Real-Time Analysis
By analyzing this data in real time, Schemata revealed that while the market was not fully aware of solar technology, there was a growing concern over traditional energy costs. Consumer sentiment data also indicated a strong environmental interest, showing potential for future growth in clean energy demand. - Competitor Pricing and Elasticity
Schemata’s analysis also uncovered that while competitors were offering similar products, their pricing did not account for the region’s lower income levels. By assessing price elasticity, Schemata recommended introducing a payment plan that would reduce the financial barrier for early adopters. - Economic Indicators
The analysis of economic indicators, such as employment rates and disposable income, revealed that while the market was price-sensitive, there was a strong correlation between government subsidies for renewable energy and product adoption. Schemata recommended aligning the product launch with upcoming government incentives to maximize uptake.
Implementation
Based on Schemata’s insights, the company:
- Introduced flexible payment plans and focused marketing efforts on affordability and long-term savings.
- Timed the launch to coincide with government subsidies to boost adoption.
- Tailored its communication strategy to highlight both the economic and environmental benefits of solar energy in the target market.
Results
Following Schemata’s recommendations:
- The company saw a 30% boost in product adoption within the first six months.
- Government subsidies covered 40% of the product cost, making it more affordable to consumers and significantly reducing the company’s sales cycle.
- The company avoided potential financial losses from a mistimed launch, saving approximately $500,000.
Conclusion/Extra Value Provided by Schemata Solutions
Schemata’s predictive analysis and insights reduced the energy company’s time to market by 25% and ensured that the product was aligned with consumer demand and government incentives. By helping the company avoid expensive regulatory and market-entry hurdles, Schemata’s solution provided both immediate and long-term savings.
