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Strategy and Development
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There comes a time in an organisation's life when it is necessary to take stock and to revisit the long-term strategic vision. We can help by taking a dispassionate view of the company's current position, how the market stands and how best to grow and prosper.
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Strategic review
This 'internal audit' exercise into marketing strategy, planning and activity can be very enlightening. Good, effective marketing is the key factor in adding to or destroying shareholder value. Being successful in a growing market can appear to be easy, but is market share increasing at a greater rate than market growth? If not the company will be losing ground.
It may be that the market has moved on and no longer finds the product or service relevant, or what are considered to be killer features have little or no benefit to the customer. Or it perhaps the product has reached the stage in its lifecycle when it is time to look for a successor.
We take an objective view of the market, products or services and customers, and make recommendations on how to refine them to suit current market conditions, and where further investment should be focused.
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Marketing due diligence
Corporate planning often focuses on the financial aims and objectives of the company without reference to the reason why the organisation exists - the product or service. Incomplete understanding of the product, its market and competitors can lead to unrealistic or inaccurate forecasts.
Marketing due diligence develops a closer understanding of the product and its market and equips the company to build a product portfolio that delivers long-term growth.
Whether considering a take-over, merger or licensing a product or service it is important to ensure all claims to sales, market share, service levels and so on stand up to verification. We use a combination of qualitative and quantitative research to validate claims in this externally focused marketing due diligence exercise.
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Competitor intelligence
It's all too easy to become so immersed in the here and now that we lose sight of what's coming around the corner.
Whether it's checking up on what the competition is up to, identifying new entrants into the market or exploring new developments, we quickly become 'instant experts' in your sector and deliver a considered view of the market and your position in it, and make recommendations for future direction.
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Customer retention and development
Often businesses are good at winning new customers but when the contract comes up for renewal the customer moves on to the next supplier. Alternatively, the contract may be renewed at an unacceptably low margin.
We can investigate why customers aren't renewing, which services they value and what they are indifferent to, and what the competition is doing that makes them more attractive to do business with.
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Market segmentation
In the early stages of a product or service's evolution it usually has a clearly defined market whose requirements are understood. As it develops more businesses from diverse sectors become customers. However, these customers will have different drivers; they may not place the same value on some of the product's benefits, or may have entirely different needs.
We will study the customer profiles, identify purchasing drivers and perceived benefits, then group them into segments with like characteristics and make recommendations for a product/service and business development strategy.
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Distribution channel strategy
As a first tier supplier it can be difficult to get close to end users and understand their purchasing drivers. What used to work may no longer be relevant in today's market.
By talking to end users and the intermediaries they buy from we can develop an understanding of the elements of your service that are valued as well as any unsatisfied needs, which we use to build a strategic development plan to improve sales, profitability and customer service.
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