How ICE Doubled Turnover in Twelve Months

Client: Inspired Cycle Engineering

Services: Branding , Video & Photography, Digital Tool Development

The Client

Marketing a world-class recumbent trike isn’t as simple as it sounds – which is exactly what the team at Inspired Cycle Engineering realised when they wanted to take their business to the next level. But, since working with Ben, they’ve now almost doubled turnover, grown their margins and are looking forward to an exciting future.

The Challenge

We all know that the best product in the world isn’t going anywhere if it isn’t reaching the right people – especially if you’re not making it easy for them. And, while the team at Inspired Cycle Engineering had created an excellent product, backed by a team with a depth of engineering expertise (and a culture of going the extra mile for customers), they were struggling to ensure the marketing and commercial activities were as good as the bikes.

The Value Engine - Inspired Cycle Engineering

Insights

Once the challenge was realised, Ben was more than happy to step in. So, as with any growth progress, the first step was to run an initial analysis and explore the current issues. In this case, the two main problems were:

Out-dated branding and appeal

The trikes lacked showroom appeal and branding had remained unchanged for many years. This meant visual aspects of the product did not always match the level of engineering excellence (a hallmark of the offer).

Too many options confused customers and added to operational cost

Customers were offered a huge choice of product configurations and these were not targeted to specific customer segments. This was overwhelming and meant that the product the customer wanted was not the one on the showroom floor.

The Solution

Working with the team, several courses of action were put forward to ensure immediate and long-term change:

Complete positioning & rebranding exercise

We conducted a detailed review of the brand to ensure that we were the premium choice in the market. The result? A new brand positioning and associated look and feel were adopted which dramatically increased the desirability of the products.

Simplify & target product range

We created three product ranges: leisure, sports and race with entry, mid-range to top-end options within each range, delivering a precisely targetted product offer and halving the number of frame variants. The upshot – more customer appeal and operational cost savings.

Review pricing & margins

We completed a detailed product and pricing analysis, which drove a change from a one size fits all pricing approach to multi-market pricing, with margin levels enhanced to match the premium positioning. This work had a dramatic impact on profitability.

Create compelling assets to bring the brand to life

We created film and image assets targeted to the three clear market segments. These were supported by a new website which enabled customers to explore the product in detail.

Embrace & develop digital tools

We needed to make it easy for customers to choose their bike and accessories online. Therefore, we designed an online configuration tool, allowing customers to design their bike and send this to the company, with the option to share on social media.

Plan & deliver a successful launch

Working closely with operational colleagues, we developed a launch plan to get the new offer out there. This consisted of a pre-reveal tease phase, followed by a full online and offline launch.

The Results

By working with The Value Engine, Inspired Cycle Engineering saw results that exceeded expectations. From growing turnover and margins to having more than 50 pre-launch orders, the success came down to an incredible team effort, backed by proven strategies for business growth.

85%

Turnover growth

50%

Margin increase

50+

Pre-launch orders