Case Study - Acquisition Strategy & Product Dev Improvements
Capitalizing on Competition: A Case Study in Market Capture
Overview / Challenges
- A major direct competitor had announced the end-of-life of its mobile app and service. This was the perfect opportunity to communicate how my client’s mobile solution could better meet the needs of our competitor’s customers.
- We had to find a way to convert this audience into customers.
Solutions
- Analyze the competitor’s audience to find out what their main problems are, as well as the advantages and disadvantages of the application they’re using up to now.
- Quickly release a new feature to address an important and missing target audience need.
- Create engaging marketing materials, such as blog articles, videos, and banners, to showcase the value of the mobile app and address key customer pain points.
- Implement a comprehensive marketing plan that leverages multiple channels, including PR, social media, and paid advertising, to drive engagement.
- Capture our competitor’s followers, scrap their data to create lookalike audiences and cold email to target our competitors’ audience.
Results
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- 145% increase in mobile app revenue
- Enhanced our mobile app with a game-changing feature, based on thorough competitor analysis
Conclusion
This case study demonstrate how much market analysis (including competitor’s study) is game-changer for companies, disputing a market. Defining customer needs to build a product market fit (link) is the first step before spending time (and money) to sale it..
If you developped a product market fit, the most of the job is done, you just have to stay agile and deploy stragic plan.
Is you product answer your current customer pain?
Do you address your target with the right message? Into the right touch points?
Let’s discuss in a short call , an external point of view can open up new growth prospects.
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