Standing out in a crowded market with a winning value proposition

The Challenge

The parking industry is highly competitive, with numerous major players and low barriers to entry. Parking contracts typically run for multiple years with renewal clauses, meaning there is only a limited window of opportunity to influence decision-makers when they are considering parking providers.

Saba had lost a series of bids and needed to understand the reasons behind these losses. They also required a clear point of differentiation and a compelling value proposition to stand out from the competition when targeting key segments such as local authorities, healthcare, and rail in future bids.

Cognosis Consulting was engaged as a strategic partner to gain a deeper understanding of the needs of each segment when selecting a parking provider. Our objective was to identify key decision-making triggers and barriers, and develop a distinct, compelling value proposition for Saba to take to market.

Our Approach

Our approach began with a matrix to map out the key decision-makers within each segment responsible for selecting parking providers. We identified their roles in the procurement process and conducted in-depth interviews to understand their specific needs, decision-making triggers, and barriers to choosing a provider.

At the same time, we leveraged these interviews to assess stakeholders' perceptions of Saba and its competitors. This process enabled us to build a detailed database of key stakeholders, their requirements, and how they viewed Saba in comparison to competitors. This insight has since proven invaluable for Saba in engaging with potential clients.

With this foundation of data, we mapped out the market landscape, positioning Saba relative to its competitors by stakeholder, company, and segment.

Next, we analysed the needs, triggers, and barriers of each key segment:  local authorities, rail, and hospitals - overlaying this insight with Saba’s existing products and services. This process allowed us to identify:

1.  White space opportunities where Saba could innovate.

2.  Gaps where Saba was not meeting client expectations.

3.  Competitive benchmarking to highlight areas where Saba needed to improve in relation to its rivals.

With a clear understanding of Saba’s market position, client needs, and competitor offerings, we identified key areas for improvement and new opportunities for innovation. This enabled Saba to enhance its value proposition, unlock new revenue streams, and establish a clear competitive advantage.

The Impact

The project enabled Saba to address longstanding gaps and expand into new areas, such as offering solutions for clients' underutilised parking spaces. As a result, Saba’s overall proposition has significantly improved.

Saba has credited our work as a key factor in their success, particularly in the hospital sector, where they have become the market leader. Additionally, our insights helped them gain traction in local authority contracts - an area where they had previously struggled.

The outcome of the project is that Saba now has a clear and compelling value proposition, both as a whole and tailored to each market segment. Furthermore, the insights generated have fuelled continued innovation within the company.

Following the success of this project, we have undertaken multiple follow-on engagements with Saba, supporting them in taking their proposition to market, refining their business model, and identifying future growth opportunities.