Problem
Bloomberg had identified an opportunity to enter the Transportation policy space in DC but could not Identify how to become the dominant service offering in the saturated market and what data information could be leveraged from the Bloomberg offering while differentiating itself from the existing competitors in the space.
Solution
Development of a BGOV Transportation desktop and mobile offering specifically for the Transportation policy industry. The offering focuses on providing robust coverage on all things transportation (energy, safety and policy issues) including data, publications and other references.
Major Milestones
- Integration of iMap tool onto the new platform and then working with vendors to Identify and rectify major flaws in offering due to recent redistricting.
- Creation of a mobile BGOV app which had never been attempted within Bloomberg
- Integration of all data and information made available to Bloomberg Transportation users onto the Bloomberg terminal offering.
- Ingestion of outside data from sources such as BTS National Transportation Stats and the Transportation Energy Book
- Re-categorization of Transportation News sub-categories to ensure consistency across the Bloomberg business lines
- Conception and development of the major features within the desktop offering: Legislative, Regulatory, Calendar of Events, Resources, and Data/Analyst Content of which all are focused around content deemed important to the Transportation industry audience.
- Development of a real time news ticker which allowed users to push custom news alerts and content to users as needed.
Results
New business vertical allowed Bloomberg to enter the Transportation policy market, leverage existing Bloomberg products, ingest new data sources and provide that data for Terminal users. The offering composed 30% of the entire BGOV product portfolio, which as a whole represented 75% of BGOVs annual revenue and 60% year-over-year growth.
CLient segment & Use cases
Due to this product being brand new, it was important at this time to identify the key client segments as well as the use cases that would be needed to support them on the BGOV transportation tool.
competitive analysis
A key activity that I performed in this position, given Bloomberg Government (BGOV) was a startup, was competitive analysis. The understanding of where the Transportation BGOV product fit in the market versus other competitors. One other key activity was providing research during the time Bloomberg explored acquiring BNA.
