Gift To Grow : How GiftMarket plugged its revenue leak with narratives and messaging
Differentiating B2B commodity products to reclaim revenues
Gift Market is the #2 corporate gifts supplier in Singapore that specializes in sourcing and customizing gifts for major organizations.
Problem was they weren’t the only ones and they were selling largely similar products. This led to an eight-figure revenue leak over 2 years.
Low conversion, wallet share and retention rates despite high website traffic
Attracting the wrong customers due to messaging that emphasised cheap products
Lack of brand differentiation leading to price based competition and lower margins
How we helped
Discovering what their buyers wanted
After conducting research and workshops with the Gift Market team, we identified HR and Marketing as their top customer profiles.
We found out that customers didn’t choose vendors by price, but wanted providers to recommend gift ideas. Additionally, we learned that customers were willing to pay more for solutions to their needs, and that the sales team lacked the right tools to provide added value.
Using these insights, we developed the sales narrative “Gift-led Growth” to showcase Gift Market’s potential as a provider of insightful consultative advice.
A new story that helped customers appreciate the power of gifts
We translated this narrative into a centralised sales presentation and messaging architecture, which helped the sales team gain clarity on the company’s value proposition and communicate more purposefully with clients.
As a result of these changes, the customer service team was able to provide value-added advice and the company saw an increase in deals closed, increased deal sizes, and improved customer retention in the long term.
We also conducted sales and mindset workshops to educate and implement changes to see immediate results with future client inquiries