After the recession began in 2007/2008, a specialized audio visual services provider experienced several years of declining revenues, to the point where the business was barely surviving. In early 2011 the founder contacted Ground Floor Partners for help.
Results:
Rather than trying to apply a short-term fix, we approached the problem with a long term view. We did a quick assessment of the business, and concluded that marketing was the most important factor. The owner and his staff were extremely good at the technical side of the business, but had never needed to invest much effort or money into marketing and sales.
We analyzed the company’s clients and projects and concluded that they were overly focused in one relatively small target market. We identified several other larger and presumably more profitable markets, and worked closely with the owner to develop a strategic growth plan, redesign the company website, and implement a variety of other marketing efforts, including SEO, pay per click advertising, direct mail, and email. Within a few months after the plan was completed, inbound calls increased dramatically and the firm began closing more sales. Revenues more than doubled. Ground Floor Partners is still working with the company to further increase revenues and profit margins.