Business to Business Services – People and Performance:
Launch to niche market sector.
The Situation:
The business wanted to increase product sales and the dollar value of its services. With limited available resources and no desire to introduce a sales role, growth needed to be organic, utilise existing available resource. The business provides high quality, on-line tools and personalised services to a mature but competitive market. The business had dabbled in niche opportunities but with limited or no success, largely due to the lack of expertise in market development. An assessment of the business identified opportunities for extension to new sectors without significant change to infrastructure or staff – the franchise sector presented one such opportunity.
The Goal:
Package and launch existing products and services to the Franchise Sector. The sector had a need – at the time unsatisfactorily serviced, the business had the tools and services to fill the gap.
The Action:
The client had previously worked in the sector, although hadn’t differentiated the opportunity as niche potential, and this provided a base platform to explore further potential. To add weight and proof of concept at market entry, a full package of services was provided free of charge to a selection of large businesses in the sector, this provided a robust set of case studies to support the proposition and establish credibility.
The approach to market was two-fold:
1. To align the client with credible and established market-leading providers to the franchise sector; those with highly complementary services.
2. Develop and execute a highly visible, integrated launch and go-to-market strategy and plan to firmly stamp the business as a credible supplier in the sector. The messages were clear, the statements bold. PR was utilised in both franchise and general business markets to broaden the channel reach, supported by events and seminars and a strong online presence.
Risks and critical success factors
Entry to new markets, establishing and building relationships and credibility does not happen overnight; quick wins seldom happen. It was critical for the organisation to continue the momentum; building new relationships and credibility across all influencing parties and clients relevant to the needs of the sector.
Commitment from leadership team and belief in the longer term opportunity was paramount.
Having the right people on board who work to their core skill was essential. A DIY approach using staff outside of their areas of expertise is not a winning formula for business growth.
