market.

Integrated Marketing

Going to market with a new product or service

is expensive and can have a significant effect

on the overall well being of the company.

The success of your company depends on

knowing how the market is going to respond to

your new offering.

In most cases companies rely on what they

know already – rather than viewing their perceived

market with fresh eyes.

One company that we worked with understood

the need to revisit their market. This is the

story of we helped them achieve a 10% takeup

for new trial and over $1 million in new sales

with a marketing cost that was

a mere 3.5% of new revenue.

Background

Our client was a mid-sized Canadian

data information provider

that was seeking to introduce

a new web-based application.

The application was designed

to be more affordable

for both the client and for the

company. This meant that

there was a larger potential audience

that went beyond the

cream of corporate Canada that

the company usually worked

with.

For this new product the average

sale price would drop from

$35,000 a year down to $3,500

a year. They didn’t know how

their sales staff, who were used

to several face-to-face meetings,

meetings,

could possibly sell at such a low price and

earn decent commissions.

Our Deliverables

We provided an integrated approach that managed

the entire marketing and sales process to

create success.

Market Analysis

We did analysis of companies that had dedicated

marketing and media departments.

These companies would be seeking ongoing

sources of market intelligence. That determined

the following:

q Size of market q Who the potential opinion

leaders and decision makers

were in each company including

titles.

Our market analysis included

reviewing the competition and

pricing to ensure that the

product had clearly definable

attributes that separated it

from the competition. This

analysis fed nicely into a benefits

analysis the sales staff

used when dealing with potential

clients. It also provided

the product development team

with a set of improvement objectives

for future versions of

the software.

Trends

Positioning Statement

Based on the above research, we developed

a positioning statement that clearly outlined

the Brand Contract or offering. This became

the basis for the product’s slogan and became

the benchmark for all marketing and

sales materials that we produced.

Market Strategy

After reviewing their target audience we developed

a marketing program that would create

a significant amount of exposure in a

short period of time. This ensured that the

target audience would see something on the

new service in several places and generate

interest. The plan included:

· Print Ads in selected newspapers

· Media Releases for trade publications

· Direct Mail piece to opinion makers in target

companies

Test Before Launch

Normally, we recommend that our clients do

some form of market testing such as focus

groups or surveys, however the company felt it

had enough feedback from its sales staff that it

didn’t want to spend any funds in this area.

Business Objectives

Because we had done a detailed market analysis

we were able to determine the potential size

of the market and develop a sales estimate.

Artwork Based on Positioning

Our communication concepts focused on a new

product logo and a web site design that was

used on their existing application. The designs

were based on promoting the Positioning of the

Brand.

Marketing & Communicatio ns

Budget

This was a significant step for a company that

hadn’t needed to market itself too significantly.

We developed a complete budget that would

cover the cost of:

q Strategic Planning

q Logo & Web Development

q Advertising & Direct Mail

q Media Release writing, distribution and

follow-up calls

q Training

This complete approach gave them confidence

in the total cost of the product launch.

Sales Strategy

The strategy was to have the inside customer

service team contact the direct mail recipients

and sign them up for a two week free trial. At

the end of the two weeks, the customer service

team called a second time to gauge the usefulness

of the application and to potentially sign

them up.

This process worked well as it brought focus to

the target audience’s mind about using the

product. It assisted them by having knowledgeable

staff helping them to set up the trial

period. This worked so well that 10% of the direct

mail recipients signed up. At the end of

the two-week period, the target audience was

able to get questions answered about some of

the features they were having difficulty in using.

The result was enough signed up for annual

subscriptions to generate over $1 million in

annual sales

Author:.

Mr. Adams provides a wealth of experience in marketing, journalism, finance, government and general business. This well-rounded experience provides the insight to develop clear and effective strategies.

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