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The SimplyCast Story, Part 34: Knowing the Market
Shortly after signing several automotive companies, SimplyCast decided to focus more attention on industries related to automotive. After all, interest rates were low and these companies had the extra cash flow to spend on new technologies, so why not marketing automation?
The problem is that when companies are in a time period where they are generating lots of revenue isn't the time when they want to change their strategy to incorporate something new. If what you're doing is working, why change?
This was a lesson SimplyCast learned the hard way.
With automotive dealerships around the world signing onto SimplyCast, it only made sense that we would target DMSs (Dealer Management Systems) so they could increase their offerings to their clients. We spent time and resources marketing to this audience and making the integrations DMSs would need.
Although we were able to sign on a few DMS clients, it wasn't what we had predicted would happen with all the resources we put into it. We learned the important lesson that when business is good, companies don't want to change.
Knowing the market is half the battle when it comes to appealing to different industries. When you see an area that needs improving but isn't being addressed, that is the time to approach this audience. In our case with DMSs, we had a solution that would work for them but it didn't address a specific problem they were having at that time.
To see if the SimplyCast platform can address an area in your industry, sign up for a 14-day free trial.