Extech: blazing new trails with business innovation strategy

This Knowledge Transfer Partnership (KTP) project aimed to cement Extech’s position as an influencer in the field of Managed IT Services providers, by developing a new business model which disrupted the market and paved the way for them to become a known thought leader in their field.

The project developed and implemented a transformative and disruptive business innovation strategy that enabled the workforce to engage with the concept of becoming an IT service provider ‘thought leader’. It went on to support the development of a new ‘thought leader’ business model which pushed Extech to the forefront of their market, striding ahead of larger and less agile competitors.

In order to become the go-to provider of IT service support, Extech needed to be able to access expertise on strategic business models which would cement their reputation and help them become the most trusted IT provider in the field.

One aim of the project was to develop new strategic business and innovation skills within the company, which would lead to longer term cultural adjustments, supporting Extechs aim to be a more innovative and forward thinking company.

In general, most IT service provider clients are unhappy with their IT provider one way or another, and it is difficult for customers to articulate what would be better for them, as it’s an area they now little about, so they often end up settling for something less.

Because of their size and enthusiasm to innovate, Extech could act in a highly agile way, responding to market trends and customer conversations.

Utilising innovation management models and expertise in business strategy, the academic team will experiment with and measure transformational changes to the way that Extech delivers its services.

They worked closely with the academic team, utilising their expertise in innovation management models and business strategy to experiment with new thought leadership approaches.

Extech listened to their sector and involved themselves in on current trends, so that they could refresh the company and bring it, and its image up to date.

Current and new customers responded well to their well-informed approach and felt more connected to Extech as a provider, because their needs were being listened to.

• Examples of best practice on thought leadership in the sector were captured – information on new and emerging trends for example, from which a robust method of moving Extech from traditional 'push' marketing to ‘pull’ marketing was developed.
• Mechanisms and behaviours to transform the company into a market leader and influencer were captured and developed, then implemented throughout the company to bring all staff up to speed with new ways of working.
• As a result, over time, a culture of innovation, inquiry and experimentation was developed.
• Customer attraction experiments were defined, run and measured to check their success. The most suitable ones were rolled out, from which new income streams were identified.
• A new business strategy was developed for the company, based on the evidence gathered throughout the project. Using new knowledge and skills embedded throughout the project Extech will continue to build upon this strategy, responding to customer needs and listening to sector conversation to stay ahead of the curve.