A new business model as the German automotive industry weakens.
Econ Engineering is an engineering simulation service provider with 20+ years in the business. Until now, the backbone of its revenue came from the German automotive industry. As the sector weakened, it needed a new business direction, and we redesigned it together. Based on in-depth interviews, 5 workshops and an insight database of 700+ pages, we identified new industries, new target groups and a new position. For that position, we’re also building a value proposition, pricing and a client acquisition model. We validated the new direction through lead generation, using a tool we’re developing ourselves: software that uses company analysis and a scoring model to select the ideal customer profiles.
Alongside the new business model, we packaged their simulation expertise into a standalone product, from business modelling and market research through UX/UI to full-stack development. So next to the service business, we’re building product revenue that runs on its own.