Marketing a Niche Product
Dynamic Health Strategies (DHS) is an established company that offers specialized health care benefit analysis, auditing, and cost-management and reporting software and services. The company offers robust technology for quality control and population health while continuing to innovate in its market space.
Although it has a stable base of core customers, DHS has had limited growth in recent years and has struggled with bringing in new clients. Sales prospects get stuck in the sales funnel or drop out because the company’s core product feels like a “nice to have” rather than a “must have” in a time of tightened human-resources and benefits budgets.
Also, DHS was in the process of developing a new product to differentiate itself from its competitors and to engage a new audience.
To achieve its growth targets and better position the company for the future, FrogDog helped DHS to
- clearly define its target audiences,
- clarify its value proposition for these newly defined target audiences,
- determine the best way to raise its market’s understanding of its offerings, and
- create a marketing plan that it can execute efficiently and measurably.
THE FROGDOG SOLUTION
- FrogDog conducted primary and secondary research to define and prioritize key market opportunities for DHS
- FrogDog developed an extensive competitive analysis for DHS to highlight the chosen market and positioning opportunities within it
- FrogDog defined and prioritized the most relevant target audience for DHS
- FrogDog developed a strong marketing strategy to increase awareness quickly by building frequency and exposure to the target audience
- FrogDog crafted messaging focused on key pain points for the target audience and the appropriate benefits of DHS’s product
- FrogDog created a multichannel and multitouch direct-marketing campaign to reach the audience efficiently and effectively
- FrogDog defined and prioritized market opportunities for DHS
- FrogDog positioned DHS appropriately for targeted growth and development through differentiation and market positioning
- FrogDog developed a strategy and messaging to build and maintain understanding of DHS and its core product among its key target audience
- FrogDog created a tactical plan through which it can measure tactics efficiently and effectively
- Early feedback from the new messaging is strong, with sales increasing and prospects staying in the sales funnel
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