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Next-Gen Go-to-market Strategy

Rather than mimic the competition, we open up new possibilities by proposing a shift in perspective.

Overview

applying our years of experience and customer insights, our marketing strategy consultants build innovative go-to-market strategies that ensure business growth.

Mohamed El Alali

/ St. Marketing Consultant
The success of any product depends on how innovative its marketing strategy is and how effective its implementation. However, in today’s competitive environment, marketers need to adopt a data-driven approach for developing and implementing such innovative marketing strategies. Determining the right customers to target, positioning, and marketing mix (product, price, distribution, promotion) based on meaningful data and customer insights not only meets the customer needs but also ensures business growth.

The Client

Our client, a leading multi-line financial services provider, sought to fuel product development and optimize messaging for its core consumer market. In particular, our client sought to understand differing emotional drivers behind financial behaviors and to identify areas of opportunity within specific consumer segments.
Roadmap
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01. Assess
Our strategy and marketing teams worked with the client team to clearly articulate the long-term goals of the study and to ensure inclusive project design. Inclusivity across a wide range of stakeholders was particularly critical for this engagement since it led to a unified view of the consumer audience across lines of business. This was a paradigm shift for an organization in which each line of business had historically had its own segmentation.
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02. Deliver
The resulting segmentation solution had clear and actionable implications across lines of business. Building on the survey-based segmentation, our team worked with the client to identify opportunities to collect and append additional customer-level data to create a robust internal tool for sizing marketing opportunities and guiding marketing communications. The keys to success included gathering stakeholder buy-in early and often, facilitating a comprehensive survey design, and conducting multivariate analysis with an eye towards implementation.
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03. Continue
Our client has fully integrated the segmentation across its organization and continues to build on initial learnings by incorporating ROI assessments of segment-specific activities. Ongoing senior management support ensured buy-in internally. Favorable customer responses to product offerings and messaging efforts also created a positive feedback loop for continued use of the segmentation.
Solution Details

@fairsystems, we know that challenges are merely opportunities in disguise.

Product-market fit
Deliverable: This exercise articulated the customer problem that our client's product is trying to solve. The key to getting this right is to get input from a variety of sources including our client's sales teams and customers, potential customers, and even competitors’ customers.
Target audience
Deliverable: The deliverables here are the target audience profiles, that spell out details of the role and organization of each of these profiles, and their buyer's journey. This includes items such as what information consumers need to make their buying decision, where to reach these people, and when might they be ready to receive our client's messages. And finally, how to create the best persuasive argument for considering our client's solution.
Competitive Intelligence
Deliverable: The key behind our successful use of Competitive Intelligence is that our team regularly collect information from multiple sources, develop strategies to analyze it and position against it, and set up processes and tools to disseminate this quickly and regularly to our client's sales teams.
Product Positioning & Value Proposition
Deliverable: Since product positioning is hard to develop and even harder to change, our team invested a lot of time to think through what makes sense, now, and for supporting future strategies and direction for our client. While product positioning starts with a product, value proposition starts with the customer; it is the promise that our client's product will help a customer in a meaningful way. Our team developed the value proposition to focus on business benefits for customers and how our client's product is different than the competition's product.
Messaging
Deliverable: Messaging is the task of communicating the client's product positioning and value propositions to prospective buyers. fairsystems' team helped our client develop his messaging and get it incorporated into every facet of his company's communications. The breadth and depth of the messaging will continuously be adjusted depending on the target audience or the communication channel.
Key goals and metrics
Deliverable: Starting with the goals and metrics for our client's company, our team articulated the product-specific goals and KPIs to support the agreed-upon targets. The goals were to maximize revenue and market share, improve profit, acquire new customers, and expand into new regions depending on the product life stage.
Overarching strategy to market the product
Deliverable: The product marketing strategy and initiatives depend heavily on the goals defined earlier. Our team developed strategies to increase footprint probable, which means acquiring new customers, increase revenue from new customers and partners, and through upselling and cross-selling. In addition, separate strategies were developed for each market segment and geographic area.
Marketing initiatives to deliver on corporate strategy
Deliverable: Our team developed multiple initiatives to work on once the strategy and goals have been agreed upon. Some of these are ongoing activities e.g. collateral, competitive analysis etc., while others were driven by specific events such as the launch of a new product, or the signing of a new partner.

Result:

By implementing our recommended marketing strategies, our client has received favorable customer responses to product offerings and messaging efforts, which in turn created a positive feedback loop for continued use of the segmentation.
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Lead acquisition
cost decrease

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Sales revenue
increase

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Customer lifetime
value increase

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Online marketing
ROI increase

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Site traffic
lead ratio increase

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