THE CLIENT: Marketing Research Firm
What happens when you connect very well with one target audience, but have a rough time expanding into others? Our client, the sole proprietor of a marketing research firm, wondered this very thing. He’d been able to grow his business by identifying local municipalities that needed market research.
Yet, when it came to leveraging his P&G background and taking his firm’s value proposition to corporate and agency prospects, our client found a much tougher hill to climb. He found that in the eyes of many corporate decision makers, marketing research is seen as a commodity. Without being able to shift this perception, our client was stuck in neutral.
During a client strategy session, we uncovered an attribute in our client that many competitors in his industry didn’t have: He didn’t think like the typical researcher. He thought like a brand manager.
Suddenly, we’d found a position he could truly own — a common ground that could be more relatable to the marketing industry clientele he wanted to reach.
Still, the question remained: What was his best pathway to revenue and scalability?
Kaul Sales Partners recommended building agency partnerships. But if he wanted to be brought to the table as a partner, he couldn’t settle for meetings that ended with, “Let’s stay in touch.” As a strategy for engagements, we strongly encouraged him to ask for the opportunity to solve one specific client problem with which the agency was struggling. This way, he might keep the momentum going.
Kaul Sales Partners’ strategy turned out to be the right call. Our efforts resulted in three new agency partnerships in the first year. These partnerships pay off exponentially, as they often provide multiple opportunities to work on client corporate accounts.
To date, his marketing research firm has engaged in 41 new qualified client meetings and opportunities with agencies as well as direct clients and municipalities. He has found repeat business opportunities from a variety of sources, enabling him to find new revenue streams and scale his business.