Focus... Not Hocus, Pocus
SITUATION: A medical device company was trying to increase its market share across two vertical markets while introducing a new product line in one of them. In the process, they watched their marketing budget swell to over 8% of revenue with lackluster results. Too many different messages going out across too few outlets, and quantities and frequencies had no strategic logic to them.
SOLUTION: We generated a marketing plan that streamlined their focus in terms of messaging and tactics. Our Universal Marketing Calendar allowed them to have an annual view of all activities by market and product, and because all the right metrics were in place, they were able to deploy their budget based on results not guesswork.
RESULTS: Direct mail expenses went down 74% while product demos increased by 35% resulting in higher revenues with reduced marketing expenses. On target to hit goal of marketing spent at 2%.