Product Stack Optimisation
Product Strategy
The Challenge
A membership-based client approached Matt to clarify their growth strategy, initially chasing marketing support. The business had:
A single weekly membership option
1 x optional add-on
No structured approach to product differentiation or pricing optimization
Untapped opportunities for increased profitability through better product structuring
The simplified product stack was not fully serving member needs and failed to capitalise on the business's unique market positioning.
The Approach
Matt facilitated a Growth Strategy Workshop with the leadership team and reviewed the product stack as part of the process.
A/ Product Development
Developed product options that better aligned with member needs.
Created a pricing strategy that improved both value delivery and profitability. It was important to balance member value with business opportunity.
Designed a tiered product system with clear differentiation.
The Results
Developed a new, comprehensive product stack that better served diverse member needs
Created a pricing structure that increased overall profitability
Improved member satisfaction through more tailored membership options
Enhanced the business's competitive positioning in the market
The goal was to optimise the profitability of the business while also considering marketing and sales strategies to increase overall revenue.
Key Insights
Member-centric design drives profitability: By understanding member needs first, the client could create products that both served customers better and improved margins.
Workshop methodology accelerates clarity: Structured facilitation helped the business move from limited thinking to a comprehensive product strategy.
Simple can be limiting: Moving from a single-product approach to a strategic product stack opened new revenue opportunities.
The success of this engagement reflects Matt's core principles:
Get comfortable with being uncomfortable: Challenging existing product assumptions.
Test and reflect: Using workshop exercises to rapidly test ideas.
Stay curious: Exploring new possibilities for product structuring.