Problem / Opportunity
After a historic recession, the Calico Corners restructured ownership, and underperforming stores were closed or combined. Operationally, the company was strong. There was no debt and it had adequate earnings and cash flow to fund growth. A recovering economy and pent up demand was expected to help to spur sales, but to maximize potential Calico required fresh thinking and an integrated strategic marketing plan.
Calico asked Tashjian Marketing to:
- Segment the database of several million records into meaningful clusters demographically, psychographically and behaviorally.
- Develop a Positioning Map which charted Calico on key dimensions vis-à-vis the competitive set
- Develop alternative positionings from different points of view: Corporate, Store and Consumer.
- Develop a segment driven messaging strategy rather than a one size fits all.
- Identify the key marketing strategy drivers for future success, and for each define the tactics, estimate costs, prioritize timing and assign an owner.
- Engage with outside data suppliers
- Define and conduct an agency search
- Assist in hiring a full time marketing director with complete responsibility for on-boarding.
Barriers to Overcome
- Sales had declined significantly.
- Company was operating with a skeleton crew and few senior managers.
- Very little experience with SEO/SEM, Social Media, or display advertising.
- Rich data but no focus on analytics.
- Tap”big data” to develop a quantitatively derived segmentation analysis that actionably identified the highest potential customers.
- Developed a SWOT analysis to identified key strengths and opportunities allowing client to define sustainable competitive advantages.
- Define specifications and recruit full-time marketing director.
- Identify different needs of different segments and develop marketing strategies.
- Develop a comprehensive line item budget by month, replete with the projected cash flow
- Tashjian Marketing was originally hired for a 2-month project. Services were retained for 14 months.
- Metrics were established to measure customer acquisition costs and Lifetime Value Capture on an ongoing basis.
- Company executed digital marketing with mixed results, but learned how to effectively measure ROI
- Full time marketing director hired and effectively assimilated into the organization.