Sales improvement

Benefits

Start your path to success with our specialized Marketing and Sales Strategy service designed for both new ventures and businesses aiming to scale up. Leverage our expertise in sales improvement to unlock a multitude of benefits:

1. Market Penetration
Gain a competitive edge by effectively penetrating the market. Our tailored strategies ensure your brand reaches the right audience, fostering brand recognition and market share growth.

2. Optimized Resource Utilization
Maximize the impact of your resources. Our strategies are crafted to allocate budgets efficiently, ensuring sales improvement, a high return on investment, and sustainable growth.

3. Targeted Customer Acquisition
Identify and acquire your target customers strategically. Our approach focuses on understanding your audience, enabling precision targeting for effective lead generation and customer acquisition.

4. Scalable Framework
Future-proof your business with a scalable framework. Our strategies are designed to accommodate growth, ensuring that your marketing and sales efforts evolve seamlessly as your business expands.

Barriers to success

While the benefits are substantial, certain barriers may hinder the realization of optimal results. It’s crucial to be aware of and address these potential obstacles to achieve sales improvement:

1. Lack of primary information

In highly competitive markets, obtaining primary information from users or customers is a key success factor. Checking whether the product fits the market requires innovative strategies and a deep understanding of accurate market dynamics from users.

2. Limited Resources

Resource constraints, both in terms of budget and personnel, can impede the implementation of comprehensive marketing and sales strategies. Thus, prioritization and efficient resource allocation are essential.

3. Changing Consumer Behavior

Rapid shifts in consumer behavior pose a challenge. Hence, adapting strategies to meet evolving expectations and preferences is vital for sustained success.

4. Technological Disruptions

The dynamic nature of technology can disrupt established strategies. Staying abreast of technological advancements is crucial to maintaining relevance and effectiveness.

Key success factors

1. On-site Market Research and Analysis

In-depth research lays the foundation for success. Understanding real market trends from real customer opinions, competitor landscapes, and consumer behaviors informs strategic decisions.

2. Agile Strategy Development

Agility is key in today’s dynamic markets. Hence, flexible and adaptable strategies should be developed to allow for quick responses to changing market conditions.

3. Customer-centric Approach

Prioritize the customer’s journey. Strategies should be tailored to address customer needs and pain points, fostering long-term relationships and brand loyalty.

4. Data-driven Decision Making

Leverage data for informed decision-making. Analyze performance metrics, customer feedback, and market data to refine and optimize strategies over time.

Case: Exploring New Markets Through Test Marketing and Selling

Industry

Manufacturing and Selling Agricultural Equipment

Issues

The client is uncertain about the feasibility of selling a new product category (Electrical Appliances) to the Thai market.

Main result

A systematic process and evaluation criteria were formulated to assess the feasibility of entering a new market, including customer interviews to test the business model and willingness to pay. The outcome was a comprehensive summary of market viability and a customized strategy to strengthen our market position

Situation

✧ Venturing into a new business is challenging, especially when the customer needs are unclear or market opportunities are uncertain.

✧ Our company, deeply rooted in the agricultural sector with a substantial customer base in Thailand, sought to introduce a new product line to our existing customer base. However, due to managerial concerns and unfamiliarity with the relatively new industry, the customer surveys yielded imprecise results. The identified challenge was reaching the targeted customer group, coupled with time constraints on making rapid market entry decisions.

✧ To address these challenges, we sought assistance from LiB. Their critical contribution involved developing a guide to assess the market viability of our product. LiB actively engaged in real test marketing and selling efforts to gain a clear understanding of our product’s Product-Market Fit (PMF) in the market. Furthermore, LiB facilitated the process of refining our market strategy.

✧ The key aspects of LiB’s involvement included crafting a guide for customer assessment, conducting real interviews within each customer segment using both quantitative and qualitative questions, and synthesizing the results to create recommendations. LiB’s support extended to refining our marketing plan and product offerings to align with customer expectations. Finally, a systematic framework and assessment criteria were developed to empower customers with the ability to independently understand and analyze the market in the future.

✧ The project’s complexity lay in swiftly identifying target customer groups and testing their specific needs. In B2B sales, a pivotal aspect is querying decision-makers or those influencing key decisions in the purchasing process. Given the diverse and vast customer groups, timely research and market surveys are essential to avoid missing crucial opportunity costs, particularly in terms of time. Hence, the primary focus was on identifying the Key Buying Factors (KBF) that would significantly influence customer decisions.