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Sales in a slump?
Advertising not working?
Consumer tastes and customer needs are constantly evolving. Companies may find sales slowing or declining with marketing investments that fail to produce positive ROI. The best advertising can quickly lose relevance if not tended to, leading to a lack of results to show for the spend. Even when your company’s messaging is on point, moves from the competition in positioning or pricing can put your business at a disadvantage. In a competitive market, it is vital that your marketing activities be focused and productive.
An effective marketing effort within a company must begin and end with a laser-like focus on the single most important element to a business: the customer. Only with a full understanding of the customer can a company hope to provide goods and services to that customer better than the competition. A company can then combine that understanding with competitive intelligence to see what aspects of the competition are superior, what areas of a customer’s needs are underserved, and what actions the company can take to increase sales, grow market share, and increase profitability.
Edgescope helps companies to completely understand and identify the needs of the customer, then align the marketing initiatives of the company to serve and profit from that customer. This is done by tailoring products to meet customer needs and developing strong messaging to communicate effectively via advertising and other channels. Edgescope will work with your business to segment your market into addressable units, then develop a plan to prioritize and target those segments by bringing product design, promotion, and distribution together with a price that maximizes value for your customer and business.
In determining which segments to pursue, Edgescope carefully considers the overlap between customer needs and preferences in each segment and a company’s current and potential capabilities and product features. To inform decisions on rationalizing, expanding, or adjusting your company’s product assortment, Edgescope solves the problem of determining the maximum number of customers that can be profitably served while keeping the cost and complexity of serving these customers to a minimum. The promotion and messaging themes Edgescope identifies for these products not only highlights product strengths, but also finds ways to connect these strengths to pockets of profitable consumers. Finally, Edgescope evaluates the distribution chain to identify weak links, areas of opportunity for improvement, and potential new points of sale that would better serve and connect with customers.
Where up front knowledge is lacking, Edgescope utilizes primary research techniques such as surveying and competitive intelligence gathering to glean required information from the market about purchasing habits, product consideration sets, brand awareness, willingness to pay, and customer demographics in the form of both qualitative and quantitative research. This knowledge is then used formulate plans for sales growth and go to market strategies.
To boost your company’s revenue through better marketing, contact Edgescope today.