Business Expansion at Gifting Company

About Client

Our client firm is having 20 years of expertise in Gifting industry. When they have started business they were enjoying good level of monopoly and now competition is challenging their business each day.

Client is offerings Momento to religious, educational, political institutes based on their customized needs and events. Design customization and rich experience is key differentiator in their industry.

Our Approach

01
GOA – Gap and Opportunity Analysis
02
Analysis report and Business Proposal Signoff
03
Execution
04
Measure What Matter

GOA (Gap and Opportunity Analysis)

GAP

  • Lack of business Process knowledge
  • Lagging in Market awareness
  • Lack of clarity and efforts in Competitor analysis and marketing
  • Heavy Dependency on Customization challenges Scalability
  • Business Performance Tracking parameters not established
  • Heavy dependency on business owner because of lack of Process standardization

Opportunity

  • Untapped Digital Presence
  • Geographical Expansion
  • Business collaboration with existing player
  • Scalability through sustainable product range
  • Rich Family experience
  • High Profit Margin

Project Execution

  • Stage 1 (Vision and Strategy Formation): We believe in first thing must come first. Whenever we put our smallest effort it has to be aligned with our Larger goal and purpose. For doing the same we must have clear idea about our business Purpose, Goal and Strategy to reach there. We have used tools like SWOT Analysis, Affinity Diagrams, OKR’s (Objectives Key Results), SMART Goals etc.
  • Stage 2 (Marketing Excellence): Once we know where we want to go then Sky is limit for us. We have start focus on our market position and industry’s performance and future scenario. We have started with Low Hanging fruits in market expansion. We have taken Marketing excellence before Operational excellence based on Client’s rich experience background. We have used tools like Competitive Analysis, CBA (Cost benefit analysis) etc.
  • Stage 3 (Operational Excellence): We have started operational excellence parallel to marketing excellence in our to cater client in best efficient way with quality products. We implemented tools like Process workflow, End to end order tracking, Product Categorization, Manpower efficiency tracking etc.
  • Stage 4 (Product Development): At this point of time, We want to develop Ground braking product to reduce revenue fluctuation, improve scalability with reducing customization. With help of intense market research, we have introduce product in religious segment. We have used tools like Product Quality Planning, Benchmarking, Product-Market Fit etc.

Key Values Delivered

Tangible Value

  • Profit increased by 2.2X
  • Lead conversion increased by 33%
  • Team efficiency increased by 14%

Non – Tangible Value

  • Competitive analysis implemented as Regular process
  • Product awareness program launched
  • Work delegation framework implemented

Organizational Value

  • New Business vertical created
  • 5S system implemented at workplace
  • Standard Operation Procedure established

Leadership Value

  • Key Person aligned with Business Goal
  • Business dashboard established
  • Sustainable growth plan executed

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