Business Forum: Taking Marketing to the Next Level

Maureen Taylor

ECI - Find New Markets . . . helps companies identify and penetrate new markets through in-depth market research, creative marketing solutions, and growth strategies.

.

To remain competitive in today’s global marketplace, small and medium-sized enterprises (SMEs) must plan for growth. Unfortunately, many SMEs are so involved in the day-to-day operations of running a business that they fail to address marketing until they are in a situation where it is critical to find new markets.

ECI-Find New Markets (ECI), a nonprofit organization located in the University of South Carolina’s Moore School of Business, helps companies identify and penetrate new markets through in-depth market research, creative marketing solutions, and growth strategies.

Founded in 1997 as the South Carolina Export Consortium, the organization has a proven track record of helping companies grow domestically and internationally. To date, ECI has worked with more than 1,000 companies across the state.

But what makes ECI truly unique is twofold: the nonprofit offers companies access to customized market research and marketing materials at an affordable price while also providing students with an opportunity to integrate academic coursework with graduate assistantships and undergraduate internships.

Graduate assistants in the Moore School’s International MBA program help the ECI team with the market research needed to enter new markets, while students from USC’s journalism school work with Venture Elements, ECI’s marketing division.

"Not only do we examine new markets for clients, we also look at their competitors and customers to help companies determine their strengths and weaknesses in the marketplace," said Project Manager Anita Patel. "Ideally, the results of the research are used in creating an effective marketing message for the client. Without the right message, market penetration is difficult, at best."

Venture Elements uses students who are pursuing various degrees including visual communications, advertising, and public relations to create marketing materials such as logos, brochures, stationery, and Web sites for clients. In addition, the team also assists with writing, photography, and Internet marketing. The service focuses on providing clients with a consistent business image and message.

"Venture Elements was founded out of what we identified as a need to assist small and medium-sized companies who were either forgoing marketing materials or creating pieces in-house," said ECI President Fred Monk.

"The service is not intended to compete with outside agencies but rather to give companies an affordable, professional image to grow their business. Ultimately, as our clients grow, so do their marketing needs. At a given point, these same clients may need to look to a larger design or advertising firm," he added.

While ECI works primarily with SMEs, it also assists start-ups as well as larger corporations across the state looking to expand. The types of companies vary greatly. Staff members have worked with firms in more than 60 industries.

Whether it’s launching a new product or finding new markets for an existing business or service, market research is essential.

When Sharon May, owner of Hennessy’s restaurant in Columbia, South Carolina, decided to bottle her signature dressing, ECI researched the overall market, including demand for specialty dressings, distribution channels, and business development opportunities. Initially, staff looked at marketing the product as an Asian dressing. However, the research showed that the demand for Asian dressings was significantly lower than for vinaigrettes. Staff worked with May to develop a name, May’s Unique Vinaigrette, as well as an overall image for the product. In addition to the product label, the ECI team created a Web site and marketing materials. Today, May’s Unique Vinaigrette is available in more than 20 retail locations.

The market is literally flooded with products and services, making brand identity more important than ever. Brands must present a consistent look and feel on everything from the logo to colors to typeface. The challenge for many small companies is that they lack the time and resources to invest in developing, let alone marketing a brand. Such was the case for Heidi Black, owner of Bringing You Baskets & Faithful Foods, Inc., of Lexington, South Carolina. Black’s Faithful Foods product line was introduced in 1995 and now features 150 southern gourmet food products. And while quality was a constant in the product, what was missing was a consistent image.

"As we introduced new products we would create labels that were product specific but did not incorporate the Faithful Foods brand," said Black. "There was no consistency in our image."

ECI has designed a new logo for Faithful Foods and is in the process of creating product labels that incorporate the new image. Black, who recently moved into a new retail location in the Old Mill in Lexington, said the new look has been well received by her customers.

"For the first time, it all goes together. My clients are even commenting on the new image. It is helping Faithful Foods build a brand identity," said Black.

David Roberts, creator of David’s Secret Sauce in York, South Carolina, recognizes the importance of image, especially since his product is competing with others on grocery store shelves. Roberts recently approached ECI about redesigning the label for his gourmet pasta sauce. The old label did not convey that the sauce was an old Italian recipe, nor did it incorporate a logo or other essential elements needed to build a brand.

The redesigned label, which will be launched in the coming weeks, features a new logo that will also be used on business cards and a Web site.

"I really think this new label will make consumers want to pick the jar up off the shelf," Roberts said.

Developing a plan for growth can guide a company toward success. ECI helps companies chart the course by assessing the market, identifying opportunities to increase market share or diversify, evaluating the client’s unique selling proposition, and fine-tuning the marketing message.

ECI recently helped J&W Auto Service of Columbia chart a course for growth. The family-owned and operated business is a full-service import and domestic car-and light-truck and fleet-vehicle repair shop. And while the fleet-service segment has proven reliable, there has been little growth in the addition of new clients.

ECI’s research identified prospective fleet clients as well as other untapped market segments. Staff surveyed J&W’s current customers to identify the company’s strengths and determine what, if any, products or services the company should add. The results were used to craft marketing messages for prospective target audiences and incorporated into a rack card, advertisements, and a newly launched Web site. ECI continues to assist J&W with search engine optimization to ensure the company is positioned where it needs to be on the Internet.

"ECI’s work was the missing link in our marketing plan," said owner William Nathan.

For companies looking to diversify internationally, such a plan is even more imperative, and the return can be extremely rewarding. Cox Wood of Orangeburg, South Carolina, has seen a 500 percent increase in exports as a result of market diversification.

The company realized it was ignoring a large part of the market by not aggressively pursuing international clients. It also needed to develop a strategic marketing plan to allocate its resources effectively. Through in-depth research, ECI pinpointed five Asian countries for Cox’s pressure-treated wood products. The company has begun exporting to three of the countries.

"It was mind-boggling to know where to start. Once we were able to narrow our focus to just five countries, it didn’t seem like such a big world anymore," said Brian Hayson of Cox Industries.

No matter the market, the principles remain the same. To be successful, companies must research the market, make certain the marketing message is effective, and present a professional and consistent business image.

"ECI provides a wealth of services for companies looking to grow," Black said. "I have referred a number of companies to ECI that are struggling with marketing and don’t know where else to turn. With ECI, there is no question—you will see a return on your investment." ¨