Case Study: November 2001-April 2002
Genscape Launches It New Product Offerings to The Power Market
Goal: Assist in Marketing Support for New Product Offerings and Branding of a New Company Important to the Power Energy Trade
ASPectx team members assisted in the development of an appropriate marketing/PR campaign and necessary content for collateral materials to support the continuing growth of sales within the Genspace subscription model. Genscape offers real-time power plant and transmission line status information for energy traders, power plant and transmission and distribution system managers, fuel suppliers and regulators. The Genscape approach involves news alerts, data visualization, and raw, real-time statistical data for energy monitoring and known output. At this time there is no competition, which also means the energy industry must accept the data as credible and the highest standard for trading before a sale can be made. Marketing, public relations, and business development were generally designed to support an increase sales of defined packaged services or products; provide branding and credibility for new products or services; create market awareness in new sectors; provide backup documentation for the sales channel; and continue a steady communication to maintain an acceptable awareness among existing customers for referrals and other upsell opportunities.
Genscape received second round financing and had begun the process of growing the company’s staff and capabilities. The focus was still on pure sales and the management team decided marketing/PR could provide some exposure to support the sales effort. ASPectx was hired to participate as the fill-in for temporary staff to evaluate what could and should be done in the marketing department.
ASPectx worked through the following steps with Genscape:
1. Executed competitive intelligence on key energy trader accounts and determine the contact most likely to be the buyer within the organization.
2. Created an expert status and established firm credibility that locked up the leadership role in this area before other competitors begin market penetration
3. Determined adjunct products/services that can be provided either in conjunction with base product or as subsets for other related markets and name developed packages.
4. Determined and weighed the importance of various mediums to get the word out.
5. Determined a development process and schedule accordingly for necessary tactics to be carried out.
6. Defined strategic business relationships desired and pursue necessary meetings to explore opportunities with a pre-planned agenda.
7. Measured impact as the collateral materials and other content delivery (speeches, etc.) were introduced to the desired audiences.
Benefits of ASPectx Approach:
*The president of ASPectx served as an adjunct marketing executive for Genscape, sitting in key internal strategy sessions, and offering counsel.
*ASPectx assisted in evaluating key business development opportunities within the trade and made calls to gather more important data on these relationships and their potential.
*ASPectx compiles a key media list of key energy trade editors and began the process of making the editors aware of Genscape as a new company, brand and product offering.
*ASPectx was able to do a media tour to NYC to secure interest of key editors in the trade for story content.
*Collateral material, trade show booth, and giveaway concepts were developed and executed for the company’s first trade shows.
*Pre and post trade show calls, faxes, and emails were sent to prospective customers.
* All trade show activities were coordinated through ASPectx and ASPectx evaluated all trade show opportunities, making critical recommendations based on knowledge and experience.
*Emarketing was used to begin a company newsletter.
The company has achieved its first solid sales and its products were endorsed recently by the Federal Energy Regulatory Commission. Media coverage assisted in developing the overall credibility needed to land the first large contracts, notably one with Platts, an energy publication owner and energy services firm.