Case Study

Space Intelligence

Charting a New Orbit with Insight-Driven Solutions for Carbon Markets

"The VOC interviews provided invaluable insights into our target audience's needs and pain points, which were previously unknown to us. This knowledge has been instrumental in shaping our product roadmap and go-to-market strategy."

Cameron Nicol

Head of Revenue

Description

Founded: 2017

Industry: Nature Technology

Website

https://www.space-intelligence.com

Space Intelligence is a NatureTech company focused on providing high-quality nature mapping data derived from satellite imagery, enabling stakeholders to monitor deforestation, support forest restoration, and develop nature-based solutions by leveraging advanced remote sensing and data analytics to combat climate change; their primary goal is to achieve zero deforestation and mass reforestation through accurate forest carbon mapping and biodiversity tracking, primarily serving clients like major corporations, NGOs, and forest carbon project developers.

Challenge

Space Intelligence, a provider of cutting-edge satellite data solutions for deforestation monitoring, sought to expand its offerings and market reach. Traditionally focused on bespoke mapping consultancy for clients with expertise in geospatial data, the company aimed to transition towards standardized, insight-driven products for a broader audience, including analysts and executives in the carbon market. This shift presented several challenges:

Competitive Landscape: Space Intelligence needed to differentiate itself in a crowded market with established data providers, tech platforms, and rating agencies.
Market Validation: The company needed to validate its new direction and gain a deeper understanding of its target audience's needs and preferences for insight-based solutions.
Go-to-Market Strategy: A clear understanding of the buyer journey and ideal customer profile (ICP) was crucial for developing a confident go-to-market (GTM) strategy.
Persona Shift: Transitioning from serving "Expert" personas to Analysts and Executives required redefining Space Intelligence's value proposition and market approach.

Solution

To navigate these challenges, a comprehensive market research project was undertaken, focusing on Voice of Customer (VOC) interviews with key personas within Space Intelligence's target market. The interviews aimed to gather qualitative insights into:

Customer Needs: Understanding current operating models, pain points, and unmet needs related to geospatial data and insights.
Competitive Landscape: Evaluating the perceived value of Space Intelligence's offerings compared to competitors.
Decision Drivers: Identifying key requirements and information needs that influence purchase decisions throughout the buyer journey.

Results

The VOC interviews provided Space Intelligence with valuable data and insights, enabling them to:
Refine GTM Strategy: Develop a top-level GTM strategy with confidence, considering factors such as direct sales vs. partnerships.
Shape Product Strategy: Inform short-term product development priorities based on customer needs and pain points.
Refine Targeting: Focus marketing and sales efforts on best-fit clients with the highest potential for conversion.
Construct Compelling Positioning: Articulate a unique value proposition that resonates with the target audience and highlights Space Intelligence's competitive advantages.

The research uncovered several key insights that shaped Space Intelligence's strategic direction:

Perception Matters: Even with accurate data, miscommunication or misunderstanding can undermine project success, highlighting the need for clear and user-friendly tools.
Demand for User-Friendly Dashboards: End-users desire clear visualizations to understand and trust project data.
Alignment with Emerging Trends: Investors prioritize solutions that align with dynamic baselines and nature-based removals.

"The research validated some of our assumptions about the market, while also challenging others. This objective feedback has given us the confidence to pursue new opportunities and refine our approach." - Cameron Nicol, Head of Revenue, Space Intelligence

Conclusion

By conducting thorough VOC research, Space Intelligence gained a nuanced understanding of its target market, enabling the company to confidently transition towards its new strategic direction. The insights gathered informed product development, GTM strategy, and positioning, setting the stage for Space Intelligence's continued growth and leadership in the evolving carbon market.

"Understanding the evolving needs of Analysts and Executives in the carbon market is crucial for our success. The VOC interviews provided us with the nuanced perspective needed to effectively position Space Intelligence and its offerings." - Cameron Nicol, Head of Revenue, Space Intelligence