A successful manufacturer and solutions provider to the
energy industry wanted to double revenue over the next two years. Key executives
believed marketing was the critical link in reaching this goal. While they
held planning sessions and commissioned significant research, they soon
recognized that marketing functioned at a tactical and reactive level: Strategic
thinking and planning was missing, and management was unsure of the best
approach to achieve its growth objectives. The company retained ReThink
Marketing to evaluate marketing effectiveness and develop a new strategy
First, ReThink Marketing uncovered an important issue early on: The company
was drowning in market research and statistics. Its inexperience in data
interpretation, however, meant it was unsuccessful in evaluating and applying
the findings to its decision-making and planning processes. This led to a
pattern of reactive implementation and a constant search for more data, both
of which stalled business changes needed to grow market share. Research and
planning process modifications were recommended to eliminate this issue.
Through the corporate interview process, ReThink Marketing discovered additional
functional gaps that would affect marketing implementation. Corrective recommendations
were proposed. At the same time, ReThink identified three marketing areas
for action and provided a detailed implementation plan and timeline for
- Target market focus — The company was pursuing a market
segment with a high cost of entry and limited differentiation opportunities.
ReThink recommended a market penetration strategy over market development
for the near future and a shift of focus to Segment “B,” in
which they had established profitability and customer referral traction.
- Positioning and messaging — ReThink Marketing’s
customer research identified points of differentiation for effective
positioning in Segment B. ReThink then proposed a reduction in key
messages to those with differentiation; the development of strong, customer-focused
content; and a concentration on integrated solutions messaging over
- Marketing strategy — ReThink proposed two programs as the
foundation of the company’s marketing strategy: a pivotal lead
generation program built around trade show participation and a tiered
prospect engagement program to drive leads through a systematic qualification
and contact system. Advertising, collateral, and other promotions
would complement these programs. Other advantages: One-off promotions
would be eliminated and Marketing and Sales now could focus on effective
acquisition and sales activities.
Within four months, the company had implemented more than 90 percent of the
marketing recommendations, including a revamp of the CRM database, staff
changes, a new advertising program, refocused collateral, and measurement
metrics. Key executives shared that they were more confident in the company’s
direction and the ability of the new marketing programs to grow market share.
Marketing was seen in a new light and gained a more equal footing to Sales,
as it was able to function less reactively and with greater resolve and purpose.
The company continued to retain ReThink Marketing in an advisory capacity
to provide executive counsel, research analysis, and expertise on customer
feedback and satisfaction projects.
Can ReThink Marketing help your company improve
us today to explore the possibilities.
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