Initrode Global Discovers New Markets with TERAC

IInitrode Global
ยท

The Challenge

Initrode Global, a well-established player in TPS report software, found its growth stagnating. Their core market was saturated, and they were unsure where to find new avenues for expansion. They needed a comprehensive, data-driven way to explore adjacent sectors without investing millions in a traditional consulting engagement.

The Solution

Initrode Global leveraged TERAC's Sector Research product. Our platform conducted a deep analysis of several potential expansion sectors, identifying key competitors, market trends, and unmet customer needs. The research included AI-moderated interviews with potential customers in each sector, providing rich qualitative data to complement the quantitative analysis.

The Results

The insights from TERAC's platform empowered Initrode Global to make bold, confident decisions:

  • Identified three profitable new market segments that were previously overlooked.
  • Launched two new products tailored to these new segments within six months, a process that would have previously taken years.
  • Grew overall company revenue by 25% in the first year after launching the new products.
  • Successfully repositioned the company as an innovator, not just a legacy software provider.