How to reach a new customer base with new services?
A paint manufacturing company facing limited growth potential in its core customer base sought to enter a new market in which value-added services are standard for the industry. How could the company win new customers by out-serving their more experienced and entrenched competition? Free of the burdens of entrenched practices, Peer Insight and the client had the opportunity to develop entirely new business models for the sale of services and products to the professional painter.
Business model analysis and field research were used to explore how paint professionals’ business goals and business management needs could be met by innovative new services. Business model opportunities were co-created with industry leading professional painters. These methods were combined with a thorough review of the client’s existing assets for service delivery.
Peer Insight developed an operational plan for our client to build lasting relationships with this new customer segment.
- Provided a game-changing customer segmentation strategy to identify prime prospects among professional painters.
- Outlined a comprehensive portfolio of services to meet the painting professional not as a paint supplier but as a key business partner.
- Created full business case and operational growth map to develop and deliver the suite of services.
- The first, simplest services were in-market within months of the completion of the business case and growth map.