The Luminas Stakeholder Value Xcelerator™ (SVX) employs a unique methodology to help professional membership associations, traditional nonprofits and industry/trade organizations understand and improve the value they deliver to stakeholders, and discover new opportunities to increase their impact and differential value proposition in order to accelerate growth.
This case spotlights our client, the Research Triangle Foundation (RTF). As an organization, RTF provides oversight and day-to-day operational management of the Research Triangle Park (RTP) – the largest research park in the United States.
For more than 60 years, RTF’s mission has been to accomplish three things:
- Facilitate collaboration between the Triangle universities
- Promote cooperation between universities and industry
- Create an economic impact for citizens of North Carolina
At the center of RTP is the Frontier, a campus that offers office spaces for a variety of companies and organizations, meeting spaces, as well as educational opportunities and networking events for growing businesses and the diverse community.
The leadership of RTF engaged Luminas to facilitate the Stakeholder Value Xcelerator™; their goal was to learn if they were meeting the expectations and needs of their primary stakeholders – the tenants of the Frontier.
Keep going to hear the outcome directly from Scott Levitan, President and CEO of RTF or read the full case story.
Confronting Internal and External Challenges
Meeting the distinct demands of different stakeholders (or tenants, in this case) can be challenging. Doing so successfully starts with asking what they need from you in order to grow and thrive, understanding their expectations and then delivering the value they need to meet their goals.
The Research Triangle Foundation engaged Luminas and utilized our Stakeholder Value Xcelerator™ (SVX) to help them gain critical insights and understand
- if their programming enabled tenants to be more productive,
- if their services allowed tenants to operate more effectively, and
- if their team was structured appropriately
Gaining Alignment and Setting Priorities
An outside-in perspective helps organizations to gain an objective understanding of what they’re doing well, and where there might be opportunities for improvement. Ultimately, taking the time to confirm internal alignment and set priorities as leaders creates a pathway to growth.
As a result of the Luminas Stakeholder Value Xcelerator™ (SVX) engagement, the Research Triangle Foundation developed the structure and processes that allow them to, now, function more efficiently as a team, and better meet the needs of their tenants.
Creating an Actionable Plan
Comparing their tenants’ perspective with their internal perceptions was enlightening for the team at Research Triangle Foundation (RTF).
Different from a traditional customer satisfaction survey that provides only data, the Stakeholder Value Xcelerator™ process illuminated where there were opportunities to better meet tenant expectations. SVX equipped RTF with specific, actionable insights which they’ve used to set goals and create a roadmap to implement changes that enabled them effectively do their job and serve the needs of each tenant.
“Luminas has had a definite impact on the way our sales team thinks about how to sell value. We wouldn’t be where we are today if we hadn’t gone through the process with them and gained such meaningful insights.”
“The whole team was engaged in the work with Luminas, it was impressive. As a result, we discovered areas where we can grow, become more nimble and think strategically about our business. We are now better prepared to partner with our customers and manage through big changes.”
“Our customers were very appreciative that we took the time to ask the right questions about what is important to their business. Luminas helped us to create a more customer centric organization and to focus on what they value.”
“We saw the Luminas team as our partners, they were humble and cared about our business. Our customers found immense value in having conversations with us; the process demonstrated to them that we were interested in their feedback and wanted to hear their insights.”
“SVX helped us to focus on what matters most to our tenants. We gained specific insights that we could respond to and as a result, we created a roadmap for how we could do our job better and increase satisfaction among the people who are paying our bills.”