Tag: route to market strategy

go to market strategy framework

Factors to Consider for an Ideal Go to Market Strategy Framework

What is a go to market strategy framework?

Go to market strategy is often confused with a business plan. While the two are closely related, they are different from one another. While a business plan is a broader concept, a go to market strategy framework is primarily focused on delivering a product or service to the end consumer. In a competitive market, an organization’s chances of standing out not only depends on the products or services offered but also on how these products or services are brought to the market. A go to market plan is the unique approach that sales leaders take for winning a market. It’s the decisions leaders make to prepare their organizations for the future and outperform their competitors. Experts at Infiniti Research have listed below some crucial factors to consider before building a go to market strategy framework.

An ideal go to market strategy framework delivers your core narrative which will accelerate your business. Request a free proposal to know how we can help you build a great go to market plan.

go to market strategy frameworkTarget audience

Identifying who the target audience is the foundation of a go to market strategy framework. It begins by defining various customer segments while ensuring that each segment is discrete and distinct. Once the target customer segments are identified, understand the challenges faced by them. Pinpoint specific reasons why the target group of customers should choose you and how you can help provide them with a solution to overcome their challenge.

Channels

Once the target audience segments have been sketched, the next step in building an ideal go to market strategy framework is to identify the best channels (both direct and indirect) for reaching out to the customers. This helps businesses examine and understand where their target customers are. Then appropriate marketing channel selection can be done based on the best way to reach customers.

Meaningful success is dependent on how well your company’s ongoing marketing and go to market strategy framework are performing. Get in touch with our experts to know everything about creating an ideal go to market strategy framework for your business.

Packaging and pricing

Packaging and pricing requirements vary from company to company. Therefore, brands must identify the best solution that suits their offering rather than trying to copy their counterparts. A successful go to market strategy framework begins with creating a strong product and brand image. The packaging, as well as the pricing, should do justice to the brand image that the company has created or wants to create in the market.

Customer acquisition cost strategy

A go to market strategy framework becomes incomplete without an appropriate customer acquisition and costs model. The customer acquisition cost is related to pricing and packaging. If what you get from the target customers is lesser than the costs of acquiring these customers, then businesses need to reconsider their customer acquisition strategy. The ability of a firm to monetize its customers is critical. So, keeping tabs on the customer acquisition cost and lifetime value helps avoid any imbalance in the money being spent and returns gained.

Learn more about how we help clients formulate the best go to market plan for their businesses.

route to market

Enhancing Customer Service and ROI for a CPG Company – Infiniti’s Route to Market Engagement

As digitization rapidly matures, consumer packaged goods companies are increasingly building and supporting a new route to market strategies. Although in-store retail sales will maintain its dominance in the years to come, e-tailing will continue to grow at a breakneck pace during this transitional period. This necessitates companies in the CPG industry to implement the best route to market strategy to ensure products reach customers in an efficient and cost-effective manner. Route to market intelligence deals with analyzing the market, understanding customers’ requirements, and their needs.

Choosing the best route to market can help your organization achieve higher targets. Learn more about our services portfolio and stay well-equipped to resolve your sales channel issues. Request a FREE brochure.

Business Challenge

The client is a well-known consumer goods supplier based out of Asia. The client served their customer base using traditional direct store distribution (DSD) model. But, this distribution model was expensive and was unsatisfactory from service level point-of-view. This further precluded the client from doing business with top-tier-organizations in the market. Also, as customers shifted between online and offline channels to make their purchases, the client realized the need to revamp their sales channel.

The client, therefore, approached Infiniti Research to implement a distribution model that will help them have a better relationship with their customers while reducing cost and increasing customer service.

Solutions Offered

The experts at Infiniti Research visualized the client’s distribution networks and identified inefficiencies in their channel selection. Also, the team reviewed sales activities and channels preferred by the top competitors of the client.

Infiniti’s route to market strategy engagement helped the client to identify the sales model to be used in each region in Asia. They also recommended the best routing system to be used for sales and delivery. The experts also helped the client to analyze the potential vulnerabilities and risks in distribution channels. This subsequently helped them resign and revolutionize their distribution channels.

In addition, Infiniti’s route to market engagement helped the client to achieve a much wider geographical scope at greater speed with methods such as franchising, licence agreements, network marketing models, and retail concessions.

Additionally, Infiniti’s route to market strategy engagement helped the client to:

  • Increase their market share by 13% in eight months
  • Enhanced CX by 2X
  • Provide significantly better service levels
  • Identify a scalable approach to discover new growth opportunities
  • Reduce cost-to-serve (expenses associated with product distribution process)

With evolving customer requirements and market entry of new players, the route to market strategy engagement is becoming an important requirement for businesses across industries. Request a FREE proposal to know more about the business benefits of route to market strategies.

What is route to market strategy?

Understanding distribution options in a market is essential for businesses. For example, if your target customer base does not engage with e-commerce, planning to sell your products through an e-commerce website will be futile. Conversely, partnering with international sales agents will be ideal while making a foreign market entry. A route to market strategy provides a roadmap for companies to get their products from the warehouse to the end-users. Determining the best route to market is not an easy task for companies. This involves identifying low-cost channels for improved profitability and balancing between market penetration and control.

2How to choose the right route to market?

Stage 1 – Identify customers buying patterns

Companies need to identify their customers’ buying patterns before choosing their sales channel. If target customers prefer online purchases, companies need to concentrate more on marketing online. Understanding the needs of customers is imperative for businesses to succeed in the competitive marketplace.

Stage 2 – Choosing the best sales channel

Today, organizations will need to shift from one channel to another frequently. While choosing a sales channel, companies must look for an inexpensive route to market. This can help them to reduce cost and enhance profitability.

Stage 3 – Measure result from each channel

Analyze all the sales channels frequently and identify the one that has generated more sales. Measuring return on investment can help companies understand the cost of implementing different sales channels.

Wondering how to evaluate the best route to market to maximize profits? Our experts can help. CONTACT US today.

brand positioning

Achieving Successful Brand Positioning in Your Market

What is brand positioning?

A Strong brand is what sets apart the products of one company from another.  Companies use brand positioning strategies to create a brand association in the minds of customers in order to make them perceive a brand in a particular manner. Effective brand positioning maximizes customer relevancy and competitive distinctiveness while enhancing the brand value in the market. The extent to which a brand is considered as favorable, credible, and unique by customers determines the success or failure of a company’s  positioning strategy.

What is a brand positioning statement?

A brand positioning statement refers to a brief description communicated to the target customers about the brand’s unique value in relation to the key market competitors. It is an expression of how the company’s products fills the gaps in a particular customer need better than the competitor brands in the market. It involves identifying a market niche and then establishing the brand in that area.

Need help in creating an ideal brand positioning statement that truly represents everything that your brand stands for? Request a free proposal to know how experts at Infiniti Research can help.

Steps in an effective brand positioning strategy

Brand positioningA successful brand positioning strategy requires companies to deep dive into the brand details and discover their unique selling propositions that make their offerings unique and more desirable than similar products in the market. Experts at Infiniti Research have highlighted six critical steps to create an effective brand positioning strategy:

Determine current brand positioning 

One of the first steps towards creating an effective brand positioning strategy is to determine your brand’s current positioning. This gives you important insights into where to go next and also provides an opportunity to further analyze the competition. Start by segmenting and defining your target customers. The next step is to identify your brand’s vision and values and understand what makes your brand different from others in the market.

Determine your competition

Using competitor analysis, you can analyze your key competitors in the market. This will help you gain a better idea of who you are up against in the market and what their key strategies are. Some of the key methods you can use to determine your competition include:

  • Market research
  • Customer feedback
  • Social media

Identify your unique selling proposition

A successful brand positioning is all about communicating to customers about what makes your brand different from the others. Competitor research will reveal patterns in the business operations of competitors that would have been previously unnoticed. Also, as you examine the strengths and weaknesses of the competitors, you may notice that their weakness is your strength. You can use this as a key element in promoting your brand positioning strategy.

What sets Infiniti’s market intelligence solutions apart from others in the market? Request a free brochure to find out how our expertise in providing actionable insights using advanced business intelligence capabilities can help your business.

Create a brand positioning statement

As mentioned earlier, a brand positioning statement is a comprehensive declaration that communicates your brand’s unique value to your customers. Before drafting a positioning statement, some of the questions that you must answer includes:

  • Who are your target customers?
  • What are the categories that you deal in?
  • What are the core benefits that your products offer?
  • What is the proof of those benefits?

Test your brand positioning statement

Creating a brand positioning statement is only the beginning. The real challenge lies in testing and gathering feedback on whether the  positioning strategy is living up to what is expected. You must take out time to gather feedback from the target customer and identify if there are any improvements that can be made to achieve the desired result.

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route to market

Essentials for a Successful Route to Market Strategy

What is a route to market strategy?

A route to market strategy, also known as a sales execution strategy provides a roadmap for companies to get their products from the factory or warehouse to the end-users, customers, or distributors. The primary objective of a route to market strategy is to ensure that the products reach the clients/customers in an efficient and effective manner, thereby ensuring satisfied customers and increased sales growth.

Developing a high performing route to market strategy involves focusing on the right markets, with alignment to the behaviors and needs of the customers in those markets. Furthermore, it is vital to choose the right sales channels, products, and value propositions, which would consequently result in a company that delivers high revenues, profitability, and customer loyalty. Experts at Infiniti Research have provided some general guidelines for achieving a successful route to market strategy:

Are you leveraging the right and most profitable route to market strategy to reach your end users? If you are not sure, request a free proposal to know how our route to market intelligence can help.

route to marketStart with the customers

Route to market intelligence involves identifying the depth of understanding that a company has to its customers, their expectations, behaviors, and needs. All route to market decisions largely depends on this kind of detailed information. Businesses must only sell products that customers need and are willing to buy. To gain a better idea, they must interact directly with the customers through focused interviews, customer surveys, or prototype testing. Then, understand what makes the company’s products or services add value to the customers. It is also critical to evaluate the best channels to reach out to the target customers.

Low-cost channels for improved profitability

Sales is an area of business that can have the greatest impact on profitability, especially if it includes selling some of the products through lower-cost channels. The challenge here is to understand which channels can be used for which customer. While some products and sales transactions require more complex and expensive channels, others can be maintained by lower cost channels such as telesales.  Therefore, utilizing the correct channels can significantly affect profitability.

Identify gaps in your business process and formulate the best strategies to win in the market. Request a free brochure to learn how our solutions can help you achieve this.

Balance between market penetration and control

Using a global market coverage route to market strategy with a mix of channels can result in channel conflict, margin erosion, and even dissatisfied customers. This is especially true when channels are not closely controlled. To stay in control, it is important to identify these potential risks. For instance, several luxury brands maintain quality, stability, exclusiveness and, ultimately, high margins on a defined segment of the population. At the same time, they forgo the fact that they could probably sell ten times as many products as they manufacture, but at a cost to brand image and market position.

Products sold and channel should match

Businesses must ensure that the products that they sell and the channels that they choose are suited to each other. They must try to sell products through the channels that customers use to buy the product that is being sold. It is also necessary to resort to channels that give economic sense to the point of sale. Which means, avoid using expensive channels to sell cost-based products which are not unique from others in the market. An effective route to market strategy is to use low-cost channels for such products.

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