GiftMarket
Plugging a revenue leak with a persuasive narrative and messaging
Overview
A corporate gifts supplier struggling to differentiate
GiftMarket is easily one of the top 3 biggest corporate gifts suppliers in Singapore, specialising in sourcing and customising gifting solutions for large organisations. The company prides itself on delivering innovative, tailored gift solutions efficiently and on-time for both local and global brands.
Challenge
Finding GiftMarket’s differentiator in a competitive market
In a segment where many competitors offered similar product catalogues, GiftMarket struggled to command value beyond price. Although the business attracted healthy web traffic, it faced low conversion, shrinking wallet share, and poor customer retention as a result of price competition and undifferentiated products.
Despite offering creative and customised solutions, the company’s positioning did not reflect the strategic value it brought to clients, creating revenue leakage that inhibited growth.
Approach
Understanding buyers to reframe GiftMarket’s value
We started with research and workshops to understand buyers’ unmet needs. Through conversations with the Giftmarket team and its customers, we identified that HR and Marketing professionals were the most strategic buyer segments. However, they did not choose vendors based on price alone; they wanted partners who could recommend gift ideas and solve business problems.
- Refreshed Brand Messaging: We created a new positioning: ‘Gifts-Led Growth’ for GiftMarket to shift the company from being just a commodity supplier to a consultant, supporting its customers in building relationships and driving engagement through gifts
- Sales Pitch Deck: We developed a structured sales presentation that led with customer outcomes, complemented with a refreshed set of visuals that conveyed GiftMarket’s values of being a supportive, reliable partner.
- Sales Training: We conducted a sales and mindset workshop to educate and implement changes within the sales team based on the new positioning and sales deck
Results
A narrative that clarifies value and drives growth
By translating the new positioning into a centralised sales presentation and messaging system, GiftMarket’s sales team was better equipped to communicate its value proposition in a way that resonated with ideal customers.
- A clearer sales narrative that re-frames gifting as a strategic business tool
- Increased deal sizes and improved customer retention over time
- Sales teams able to articulate consultative value instead of competing on price
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