Before & After…Innovation
30 Sep, 2013
Welcome to BEAF. BEAF is an Innovation Agency that works with manufacturers and retailers to increase their profit margins, by creating their own-brands and products which they can sell direct to consumer. They have three core services;
1. Creating own brand products and brands to place into traditional and online retail.
2. Taking existing products and brands into traditional and online retail.
3. Driving current sales volumes of products through both online and offline.
Tap Centre chose to use BEAF’s services…how did it help them?
· Low customer loyalty
· No differentiation between product brands
· Saturated market with little innovation
Tap Centre was a traditional offline retail chain selling mainstream branded tap products. The company was rapidly losing market share to larger online retail brands, which were selling the same product lines at lower price-points.
As there was no product exclusivity, Tap Centre was also experiencing low customer loyalty. Price-conscious consumers were entering their offline showrooms to view a tap product and check quality, before sourcing it online from Tap Centre’s competitors.
· Gross margins increased from 20% to 67%
· Customer loyalty increased by 37%
· Creation of tap brand exclusively sold through Tap Centre
· Growth in foreign market sales of 46%
· #1 in search results, above B&Q and Wickes
· Now retailing in leading online stores like Not on the Highstreet
In order to aggressively increase Tap Centres market share, BEAF proposed the creation of two separate online retail brands, Tapcentre.com & Latitude-ST.com. These would sell standard branded tap products and target a wider consumer audience. BEAF then drove Tapcentre.com above both Wickes and B&Q in search results to encourage footfall onto the new websites.
To secure product exclusivity and increase margins, BEAF then designed the aspirational tap brand, Butler of London. They liaised with product manufacturers, packaging designers and logistics firms in order to deliver the new brand to market. Butler of London was then promoted across Latitude-ST.com and the #1 ranked Tapcentre.com website, encouraging the migration of new consumers to the aspirational brand, which quadrupled tap sales.
Tap Centre saw gross margins increase from 20% to 67% on kitchen taps. Customer loyalty increased by over 37% and both domestic and international market shares doubled, adding £1.8M per year to their top line growth.
Inspired by Tap Centre, think that BEAF could help you? Why not contact them and find out…
Call Nik, Innovations Strategist at BEAF and quote ISO QSL
Post: 26 – 28 The Headlands, Kettering, Northamptonshire, NN15 7HP
Telephone: 01452 542 763
ISO Quality Services Ltd are proud to specialise in the implementation and certification of the Internationally recognised ISO and BS EN Management Standards.
Do you want to get ahead of your competition? Win more tenders or save time and money on reoccurring issues? Contact us today on 0330 058 5551 or email email@example.com.
Alternatively, you can request a quote by filling out our enquiry form and a member of our team will be in touch shortly.