therebrandingoflifecoredental-slideshare.ppt
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LCBM GTM strategy: The Rebranding of Lifecore.
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therebrandingoflifecoredental-slideshare.ppt
- 1. 1 Rebranding LIFECORE My name is Bob Guyatt and in 2006 I was hired by LIFECORE BIOMEDICAL to rebrand their Oral Restorative Division. I was ultimately given P&L responsibility for the US dental division and oversight for global marketing. The following slides provide an overview of that transformation.
- 2. 2 First Things First… Thank you • Lifecore Biomedical Strategic Integration Team-Dennis Allingham, Larry Hiebert, Dave Noel, Jim Hall, Kristin Weiss-Todd, Scott Collins, Bryan Malmquist and Jeff Rhue, for standing shoulder to shoulder with me Rebranding Lifecore Dental. • Lifecore Dental Sales, Marketing, Client Service and Engineering teams for creating and selling the new desired value proposition, both internally and externally. • Bill Ryan and Scott Root for the opportunity to develop the skills that prepared me for this opportunity and Don Tuttle, “just a Phys Ed major from Guilford College”, for teaching me what it means to be an entrepreneur and to take risks. • I will never forget the guidance, expertise and friendship you all extended so unselfishly. • Love/Respect axis from Lovemarks by Kevin Roberts, CEO, Saatchi & Saatchi.
- 3. 3 Integrated Desired Branding Proposition Why?
- 4. 4 • The line between Sales and Marketing has been blurred forever. • You must integrate Sales mechanisms and realign the compensation/organizational structure to reflect the new goals of your rebranding efforts. Bottom line- you get what you measure for. • You must “sell inside first” so that your Sales team will accept the desired branding proposition and become emissaries for the new brand. • Give the Sales team the tools and creation story that represents your new brand and aligns with your target audience; then show them how to sell it. • Implement operating mechanisms to measure results and apply sensory acuity to ensure you meet your performance goals. Integrated Desired Branding Proposition Why?
- 5. 5 Lifecore Dental Business Model • Milestones – New brand identity – Strategic Product Development – Sales force expansion – Compensation plan congruent with marketing strategy – Sales Processes: Unity without Uniformity • Assumptions – Complex sale – 9 calls depending on emotional intensity of the call – “Different Sameness” is everywhere • Tasks – STP/SFDC/Sales Performance Reviews/ Call Plans/Account plans/Strategies that render the competition irrelevant.
- 6. 6 Organizational Chart: US Sales Division Bob Guyatt Sr. Director, US Sales & Global Marketing John White Regional Manager, West Shawn McNalley Regional Manager, Northwest Joel Gonzales Regional Manager, Midwest Bill Tucker Sr. Regional Manager, Midatlantic Chuck Frame Regional Manager, Northeast District Managers 10 District Managers 4 District Managers 9 District Managers 10 District Managers 10 Bob Guyatt Sr. Director, US Sales & Global Marketing John White Regional Manager, West Shawn McNalley Regional Manager, Northwest Joel Gonzales Regional Manager, Midwest Bill Tucker Sr. Regional Manager, Midatlantic Chuck Frame Regional Manager, Northeast District Managers 10 District Managers 4 District Managers 9 District Managers 10 District Managers 10
- 7. 7 Organizational Chart: Marketing Dept. Bob Guyatt Sr. Director, US Sales & Global Marketing Lana Butler Director, Client Services Emily Smith Director of Marketing Client Services Department John DeAngelo Manager, Clinical Education Pat McClellan Sr. Manager, Implant Systems Brian Schmidt Manager, Regen/Business Metrics Teisha Scott MarComm Specialist Rick Tvedt Technical Services Aubrey Hookom Marketing Asst. Dave Graphic Design Specialist Jenni Voit Marketing Asst. Ryan Johnson Education Coordinator Bob Guyatt Sr. Director, US Sales & Global Marketing Lana Butler Director, Client Services Emily Smith Director of Marketing Client Services Department John DeAngelo Manager, Clinical Education Pat McClellan Sr. Manager, Implant Systems Brian Schmidt Manager, Regen/Business Metrics Teisha Scott MarComm Specialist Rick Tvedt Technical Services Aubrey Hookom Marketing Asst. Dave Graphic Design Specialist Jenni Voit Marketing Asst. Ryan Johnson Education Coordinator
- 8. 8 Sales Competency Alpha Level Foundational Skills Oral Anatomy Training Surgical System Prosthetic Training Cement-retained Prosthetic Training Overdenture Temporization Techniques Custom-impression Techniques Accountability: Testing/Practicum Matriculate to Theta Level Sales Competency Theta Level Intermediate Skills Sales Competency Omega Level Advanced Skills Prosthetic Training Screw-retained Administrative Meetings Introduction Esprit de Lifecore Training Surgical System Immediate Load Bone Grafting Prosthetic Training Cement-retained Review Matriculate to Omega Level Accountability: Testing/Practicum Sales Skills Proficiencies Sales Skills Proficiencies Sales Skills Proficiencies Customer-Intimacy Programs Developing Explicit Needs Lifecore Certified Competitive Analysis Accountability: Testing/Practicum Knowledge Assessment Sales Skills Competency Progression Model: District Mgr.
- 9. 9 ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- CALL PLAN Call Objective (which will get an Advance, not a Continuation) Situation (any further facts we need) Problems (problems that might exist and that we can solve) Implications (that make problems more serious or urgent) Explicit Needs (we hope to develop) Benefits (we can then offer) Account Plan Opportunity Plan Call Plan
- 10. 10 Account Plan Focus Groups •4 per month Opportunities Lifecore Call Plan Identify 25 Target Accounts 15/10 Mix Ongoing Processes -SalesForce.com -Customer Retention -Co-Travel Plan -Sales Training -Sales Performance Reviews Lifecore Dental Specialist Sales Strategy Map
- 11. 11 Playbook
- 12. 12 Playbook
- 13. 13 Pricing Group Marketing Finance Operations Sales Lifecore Dental Pricing Group Competitive Intelligence Provide input on critical issues Review pricing policy Evaluate sales requests for discounting exceptions Define: •Value-base pricing strategy •Product/market positioning •Set new product pricing Clarify: • Financial goals • Internal costs; set price range guidelines Define: • negotiating tactics for deals •Gather competitive pricing info; track success or failure of proposals •Represent customer perspectives Cross-functional pricing council •Conduct price performance reviews. •Respond to competitor actions •Set price range guidelines.
- 15. 15 Oral Restorative Division March 2006 Rebranding LIFECORE: Before “Brand yourself or the competition will.”
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- 21. 21 LIFECoRE Don’t Send A Ransom Note
- 22. 22 Why Rebrand? • Creates a Trust Mark • Shortens sales cycle • Surrogate Indicator of Quality • Value-Added Pricing
- 23. 23 Market Segmentation Brand You Transactional Intrinsic Extrinsic
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- 30. 30 Develop The Brand Best In World Passion Economic Engine Purposeful Innovation
- 31. 31 Develop The Brand: Mantra/Meaning Who are we? And what do we mean when we say Purposeful Innovation? Let us answer the latter question first. Purposeful innovation refers to the way we approach innovation while remaining mindful of its importance. After all, we believe that to change and to improve are two different things. Lifecore Dental™ embodies purposeful innovation with a product offering that features innovations that improve quality of life for both you and your patients. Principle-based, evidence-based, integrity-based, now that’s Lifecore Dental™…Purposeful Innovation. Who are we? And what do we mean when we say Purposeful Innovation? Let us answer the latter question first. Purposeful innovation refers to the way we approach innovation while remaining mindful of its importance. After all, we believe that to change and to improve are two different things. Lifecore Dental™ embodies purposeful innovation with a product offering that features innovations that improve quality of life for both you and your patients. Principle-based, evidence-based, integrity-based, now that’s Lifecore Dental™…Purposeful Innovation.
- 32. 32 July 2006 Rebranding LIFECORE: After “We must brand, package, and market ourselves so that we are desirable.” -Funky Business
- 33. 33 A Division of Lifecore Biomedical
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- 39. 39 Oral Restorative Division Before Rebranding …
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- 45. 45 Surrogate Indicator of Quality
- 46. 46 Surrogate Indicator of Quality
- 47. 47 Surrogate Indicator of Quality
- 48. 48 Performance Metrics How do we know the rebranding worked? • Increase in the average Selling price (ASP) for Prima; flagship brand. • Increase in profitable top line growth. • Decrease in customer attrition. • Increase in number of specialists as customers.
- 49. 49 Implant ASP-United States $- $50 $100 $150 $200 $250 $300 FY06 FY07 YTD FY08 Implant ASP - US PRIMA RESTORE STAGE-1 RENOVA
- 50. 50 Revenue by Year-United States Revenue by Year US $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 2005 2006 2007 PRIMA RESTORE STAGE-1 RENOVA
- 51. 51 In 2008 Warburg Pincus acquired LIFECORE BIOMEDICAL for $239 million US. The story of Rebranding Lifecore shows what can happen when a team of stars come together to become a Star Team; maximizing the synergies for which corporations exist. To everyone who contributed to the success of Rebranding Lifecore: “May the boomerang return to the hand from which it left.”