Strategy Development: Destination Marketing & Market Research
Popular Southern California urban cultural park wants to reposition itself as a multi-day destination that attracts visitors from neighboring counties and states for overnight visits.
VPI Strategies works with Board members and 26 member institutions conducing a thorough analysis to understand current visitor segments and current membership patterns.
- Participated in competitive scan including a review of 180 institutions (museums, historical society associations), researching city attraction models and interviewing multiple park directors
- A target market of $60,000-124,999 house-hold income was identified
- Converted short-term visitor experience to a long-term, loyal repeat customer relationship
VPI concluded no model at other destinations existed that could be replicated. Instead, VPI developed an innovative value-based model as the primary model for park-wide membership. Client rebranded the membership pass to more accurately reflect the revised value proposition. The Park-wide Pass increases revenues for the park institutions, institution see a rise in renewal rates, and institution donor cultivation and ongoing shared revue opportunities are seen across the park.
Strategy Development: Smart Growth
Successful start-up e-commerce company wants to increase profits by opening a retail location to expand beyond the virtual environment.
VPI Strategies works with owners to identify their drivers, resources, and goals while investigating potential locations and the external environment for opportunities and threats.
VPI Strategies provides and interprets a(n)
- Industry assessment
- Regional competitive scan
- External scan including environmental, political, legislative, economic, socio-demographic and technology factors
- Scenario planning tools and exercise
- Financial planning worksheets
VPI Strategies recommends the organization not pursue a retail location strategy due to their limited resources but explore other opportunities for growth. The business instead funnels resources into the development and distribution of an exclusive clothing line. Revenues increase 300%. Return on investment (ROI) is 5x greater than the estimated ROI for the retail location.
Strategy Development: Strategic Process Facilitation
A young organization experiences a rapid growth start-up phase but requires a strategic shift as it matures into a sustainable enterprise. The organization wants to sustain its entrepreneurial spirit and solution-oriented approach while integrating additional structure and controls.
VPI Strategies works with the Executive Management Team to develop a game plan for forging a new strategy. This strategic development process requires an intense inclusive review of the existing organization and the external environment.
- Provides a next generation planning expectations guide to shepherd the strategic development process
- Conducts primary research using web surveys with employees, customers and stakeholders to identify organizations’ strengths, aspirations, opportunities, intended results, weaknesses and threats
- Facilitates an intense strategy development session with vested individuals representing multiple generations within the organization.
- Develops strategic plan
The strategic plan guides the management team through a reorganization of existing resources, addition of new employees, enhanced communication with the board and development of more customer-oriented services. Revenues increase 230%.
Strategy Development: Performance Metrics
An established non-profit leadership organization, having recently completed its strategic planning, desires a realistic and actionable marketing plan with performance metrics. Limited resources for marketing several products and services to different target audiences make implementation difficult.
VPI Strategies works with Board members to understand the development and success of previous marketing plans, process and results of the recent strategic planning and goals of the new marketing effort. The goals include brand awareness, increasing the number of recruits and creating value for alumni.
VPI Strategies develops a strategic marketing plan ensuring marketing is linked and synch’d to the organization’s strategy. The plan integrates multiple creative communication tactics phased in to better leverage limited resources.
VPI recommends –
- Emphasis on select performance metrics
- Alumni fees
- Number of qualified applicants
- Community awareness
- Integrating inexpensive market research techniques such a customer advisory council and web surveys
- Increasing commitment to the client list could be used in future barter transactions
This strategic marketing plan is seen as realistic and executable. Graduate fees increase 100%. In the next year, the organization receives the highest number of applications during recruitment resulting in stellar candidate selection.