B2B Barter Network Gains Traction In a New Market After Initial Failure
Our client–the founder of an award-winning, Web-based B2B barter network–had experienced ten years of local and regional growth before failing in his first attempt to expand nationally. He needed to understand why response was so poor in the new market he had entered. He could revise his strategic marketing plan and proceed with expansion plans if only he had insight into his target customers in the new market, including their perceptions of and experiences with his service.
We designed and conducted focus groups with customers and prospects in the new market, and in-depth phone interviews with customers in established markets. We also synthesized industry and competitive intelligence to provide our client with context for a SWOT analysis and strategic planning.
Research results were immediately used to prioritize key issues and make changes that impacted user experience, customer service, positioning, and branding. Our solution also supported the client's successful bid for funding by a global investor and guided the development of a revised strategic marketing plan. After one year, with operational changes still in process, the company met its revenue goal in the new market.