Low scores on a syndicated industry study, coupled with anecdotal comments from the field, had our client questioning the effectiveness of its value proposition: Did they have the right products? Did the value proposition resonate with clients? Is price sensitivity a real concern? Is the problem a lack of awareness of the value offered?
Schmidt utilized a two phase approach. Phase I was a series of in-depth interviews to better understand some of the issues at hand. Phase II was a full-scale quantitative study. Insights obtained during the qualitative research suggested clients were not aware of the full product set as well as benefits of new products. Since Schmidt had recently completed the client’s Customer Satisfaction Assessment, it reviewed the study’s verbatim comments and found confirmation of the root problems.
Schmidt recommended that our client initiate a focused communication effort with a particular focus on some new highly technical products that it had recently brought to market. Marketing messages were sharpened to include a better delineation of the benefits and value statements. Sales and sales-support personnel were also re-trained with a focus on understanding and being able to better articulate the benefits and value of the new products.