Generated 26% growth in one year
Situation
A software as a service (SaaS) provider was trying to expand their reach in a crowded field of providers. Additionally, our client needed to do all of this while providing their service with minimal downtime or need for maintenance. This increased the difficulty of gaining traction among their target audience.
Challenge:
- Stand out in a crowded field of competitors
- Increase market share without added interruption or maintenance needed
- Expand reach of their product without lowering margins
Expertise Applied:
- Marketing Strategy Development
- Growth Strategy
- Market Positioning Mapping
- Segmentation, Targeting, and Positioning Strategy
Astute Approach:
- We developed a marketing strategy and growth plan focused on providing a simple service with minimal downtime or maintenance issues
- Created a market map highlighting an opportunity in creating a simple service with low stoppage or maintenance
- Developed a targeting strategy to reach small and medium-sized business (SMB) market with new service offering efficiency and reliability
Results:
- Increased revenue growth 26 percent in the first year
- Attained a new position in the market by offering a simple, efficient, and reliable service
- Margins remained similar