Thursday, 29 August 2019 11:10

Market Research Agency Uncovers Insights For A Successful Merger

We’re absolutely thrilled to talk about our new and very unique partnership! Two Colorado construction companies, Rocky Mountain Excavating (RME) and PLM Asphalt & Concrete, are merging their businesses together. As they offer complementary construction services and have grown significantly over the years, this was a logical next step for them. To ensure a successful merger, the private equity firms who purchased these two organizations sought out the expertise of a market research agency. FiG has been more than happy to share our expertise as these companies come together and reposition within their industry.

Discovering Insights As A Market Research Agency

Identifying opportunities for a new or evolving brand always starts with an in-depth understanding of the company and industry. As a leading market research agency, we know we can’t leave one stone unturned. FiG takes a logical and analytical approach to market research to unlock key business insights. We called upon a number of research tactics to examine the RME and PLM brands as they existed prior to the merger, as well as taking a close look at their industries, their competition, and their target audience.

External Market Research

We used external market research to answer some pressing questions about RME and PLM. The main question we wanted to answer was: “Where are RME and PLM positioned in the construction industry?” The tangible position of a brand within an industry is a tricky question for any market research agency to answer, so we leveraged a variety of proven research tactics to find one.

We started by conducting qualitative research through a series of customer interviews. Our team of researchers contacted former and current RME and PLM clients to learn about their thoughts and feelings about their experience working with either company. But, we can’t interview every customer. To help us gather more data, our team used quantitative email surveys to connect with other customers. We carefully crafted each question to remove bias and to avoid leading the customers. This way, we could ensure our data was reliable, accurate, and insightful.

The gathered data indicated the high-quality nature of these two companies. Customers praised both RME and PLM for their excellent standards of work. While they voiced minor frustrations, we believed the outstanding capabilities and customer service of RME and PLM would be a crucial differentiator.

To accompany these insights, our market research agency also completed a competitor brand audit. We analyzed how the two brands are perceived by customers compared to their competition. Through this analysis, we identified opportunities for growth, potential weak points, and key differentiators. These insights will have the biggest impact on their future marketing efforts.

Internal Market Research

Many businesses fail to see the value of internal market research, but any market research agency will tell you that’s where some of the best insights are hidden. Understanding what attracted current employees to a company, what motivates them to stay, and how the everyday operations yield the results the clients experience is key to identifying intrinsic values of an organization that should be a prevalent part of the overall brand. That’s why we always include internal market research in our approach.

We kicked off our internal market research with interviews at every level of the organization. We met with the leadership team, secondary management, tertiary management, and the field team on separate occasions. These interviews were structured to uncover internal values, priorities, and team relationships that would help us strategically position the organization moving forward.

But, our market research agency didn’t stop there. To complete our perspective on these two businesses, we also conducted a comprehensive internal brand audit. This audit aimed to understand how these businesses have changed since their inception. Our audit was guided by questions like:

  • How do the company values influence daily activities?

  • Has their unique selling proposition changed over the years?

  • What can improve the company culture?

  • What is the voice of the company?

With our comprehensive market research wrapped up, our marketing team set out to begin executing a brand that leveraged the insights gleaned for maximum impact on the target audience.

Next Steps

As a full-service agency in Denver, we strive to ensure all of our clients’ needs are met in a seamless and stress-free manner. From market research to media buying we have a team of experts who can get the job done effectively.

Brand Development

Your brand makes or breaks your business. This merger won’t be successful without an appropriate brand that is deployed strategically. With the insights we uncovered as a market research agency, we will work closely with RME and PLM to redevelop their brand identity to represent who they are as one company. Which means they’ll need a new name, a new logo, new messaging, and new branded materials. Our outstanding team will work to develop a brand that is creative, descriptive, and above all else, authentic.

At the end of this branding project, RME and PLM will have a new name and logo, as well as branded collateral, including invoices, capabilities pamphlets, vehicle and equipment wraps and more. All of this will go toward a comprehensive brand that customers and employees alike will recognize.

Website Design

Once the brand update has been completely finished, our website designers will craft a state-of-the-art website for the new business. Over 52% of all online traffic in 2018 was through mobile devices, so our first priority will be a mobile-friendly design. We’ll also place emphasis on an intuitive user-interface, a smart site structure, and an aesthetic appeal that’s consistent with their new brand. And, of course, any website work we do is always followed by effective SEO.

FiG will post another blog to update our project progress with RME and PLM. So, stay tuned!

Improve Your Business With A Leading Market Research Agency

Is your business in the middle of a stressful merger? Or are you struggling to understand why you’re not getting the leads you need? Then it might be time to call in the professionals. As a fully outsourced marketing department, we know how to uncover the hidden insights that your business needs to succeed.

Contact FiG Advertising + Marketing and start working with a leading market research agency today!