MARKETING
OVERVIEW Prepared with findings from the SWOT Analysis with Cinch Communications Inc.
Prepared By: Lindsey Loring
2023 Summary SWOT
Eagle Pump & Compressor
Purpose A SWOT analysis is a tool used to assess a company's strengths, weaknesses, opportunities, and threats. It provides a strategic framework for organizations to identify the internal and external factors influencing their ability to achieve objectives and succeed in the marketplace. The purpose of the analysis is to evaluate the company’s competitive position and develop an action plan for reaching its goals. We had a constructive and detailed conversation with key members of Eagle to review the current status of these factors and discuss any influence or hindrances in forward momentum with planning a marketing strategy for Eagle.
Overview The exercise yielded great success in identifying opportunities to enhance Eagle's online presence and searchability. With strong internal staff relationships and a loyal customer base, Eagle brings significant value by offering custom solutions to clients. However, it's common for businesses to fall into a routine and overlook competition, the importance of a marketing strategy, and their digital market share. While Eagle benefits from committed staff and loyal customers, we have identified that it's crucial to modernize the company's digital footprint and expand its reach to attract new business and educate current customers on the full scale of solutions that are available by Eagle.
SWOT - SUMMARY
S
The S in SWOT stands for Strengths. These are controllable within the organization. The W in SWOT stands for Weaknesses. These are
W controllable within the organization. O
The O in SWOT stands for Opportunities. These are factors from outside the organization that present an opportunity for the organization.
T
The T in SWOT stands for Threats. These are uncontrolled factors that pose a threat to the business.
Strengths Eagle possesses a wide range of notable strengths. Firstly, you excel in retaining employees and fostering a sense of loyalty among the workforce. Additionally, you prioritize providing prompt and accessible customer service by ensuring that there is always a live person available to assist customers 24/7. Eagle’s business and customer service model appears to be built to be committed to finding solutions. This potentially sets you apart, as you go to great lengths to deliver on promises and stand behind the quality of your products and services. Moreover, you offer customized solutions tailored to meet the unique needs of each application. A key selling feature is the dedication to compliance by delivering on high-spec client requirements, such as CRN numbers, to meet clients’ needs. Your comprehensive parts supply, delivery and customer service in your parts department proves adaptability by supplying a diverse range of parts and even manufacturing parts that may no longer be readily accessible. Furthermore, your ability to support both new and old units, spanning decades worth of parts, showcases experience and expertise in the industry. It is also worth noting that the design of the units is done specifically to be easily serviceable by field staff or contractors, ensuring efficient assistance when needed. At this point, understanding whether or not this is of substantial value to customers is still being determined. Eagle also specializes in custom-building vapour recovery units for individual customers, further highlighting your dedication to meeting specific requirements and building unique delivery for each customer. The thought is internally that there is established brand awareness among existing customers and field personnel.
SWOT - SUMMARY Weaknesses The SWOT analysis has revealed a number of controllable weaknesses within the business. Let's delve into each of these points to gain a deeper understanding: 1. The digital representation of the business is weak and often non-existent. This means that the online presence fails to effectively showcase the products and services offered, hindering potential customers from discovering and engaging with the brand. 2. It was identified that there is a lack of knowledge regarding competition, including their offerings, pricing, and timelines. This knowledge gap puts the business at a disadvantage as it fails to stay informed about market trends and potential threats. 3. In searches related to the industry, the business fails to appear, while the only search terms connected to the domain primarily revolve around the name of the company. This lack of visibility and discoverability greatly limits the reach and exposure of the brand to potential customers. 4. The timelines for delivering supplies are excessively long and inconsistent. Such delays can lead to dissatisfaction among customers and potentially harm the reputation of the business. 5. The marketing model predominantly focuses on internal requests rather than utilizing digital platforms for advertising and visibility. This limited approach hampers the ability to reach a wider audience and leverage the power of digital marketing. 6. The brand has little to no visibility within the communities it serves. Lack of brand recognition makes it challenging to establish trust and attract new customers in the target market. 7. Most of the equipment sold and shipped lacks proper branding, resulting in missed opportunities for brand awareness and customer recall. 8. The existing branding is somewhat dated and could benefit from a modern revamp. Refreshing the branding strategy can help align the business with current market trends. 9. Participants in the analysis expressed that a weakness of the business lies in being stuck in established ways. This rigidity hinders adaptability to changing market dynamics and emerging trends. 10. The business model appears to be 100% reactive rather than proactive. There is a lack of strategic planning to drive proactive sales and identify potential opportunities and pitfalls from competition.
SWOT - SUMMARY Opportunities 1. Untapped Competitive Advantage - The SWOT analysis highlighted the potential advantage of not knowing the competition's whereabouts and lacking a digital presence. This presents an opportunity for Eagle Pump and Compressor to introduce strategic changes that can give them an edge in the market. By leveraging this opportunity, the business can position itself as a unique and innovative player in the industry. 2. Casing Gas Expertise - Eagle Pump and Compressor already possesses extensive knowledge and experience in casing gas, which is well-known in the industry. This expertise can be leveraged to expand their market presence and establish themselves as a reputable source of solutions for casing gas-related challenges. They can offer specialized products, services, and expertise that cater specifically to this segment, increasing their market share and profitability. 3. Evolving Environmental Regulations - The regulatory landscape is demanding new forms of environmental recovery solutions. Eagle Pump and Compressor can capitalize on this opportunity by positioning themselves as experts in compliance and sustainability. They can provide comprehensive information and resources to assist businesses in meeting mandated compliance requirements. By becoming a trusted source of information and solutions, Eagle Pump and Compressor can establish strong partnerships with clients, enhancing their reputation and driving revenue growth. Eagle Pump and Compressor has multiple opportunities to exploit. By embracing strategic changes, a digital marketing strategy, leveraging their casing gas expertise, and capitalizing on evolving environmental regulations, they can position themselves as a leading player in the industry, offering innovative solutions and creating a competitive advantage.
Threats The SWOT analysis highlighted the prominent threats pertaining to the company's growth and sustainability, mainly influenced by the health of the economy. Any fluctuations in the economy and disruptions in the supply chain can have severe repercussions for Eagle, affecting its manufacturing and delivery to the Oil and Gas Industry. Moreover, the limited understanding of how competitors perceive the industry hampers your ability to compete effectively. Alternatively, if your prices are significantly lower than the competition, it could potentially result in missed opportunities to maximize profits. Your competition may pose a threat in ways that are unknown at this time. Lastly, one crucial threat identified in the SWOT analysis is the industry's limited client diversification. The potential acquisition or purchase of larger organizations could inadvertently impact the retention of significant customers.
Findings and Reccomendations
Marketing Strategy Having a comprehensive marketing strategy can help with goal setting by providing focus and direction, allowing the team to have clarity on what needs to be achieved and milestones to strive for. It can also help with budgeting since it outlines what is needed and when, so the team will know what resources are necessary and how to allocate them. Additionally, having a comprehensive strategy can help with team collaboration and motivation, as it gives everyone clear expectations of their roles within the plan and enables them to better track progress towards goals. It also allows for open communication between members of the team, which can result in increased productivity and morale. Here are some key elements that are either included in this marketing strategy or need further work to complete. Set Clear Objectives: Some key objectives that we suggest, based on the findings of the SWOT include:
Website and SEO Strategy Website re-vamp: The Eagle website, while findable online when searching for Eagle, is not populating on search engines for many of the products and services that are offered. By developing a newly designed website, you will have the opportunity to fix the dated information, pictures and branding. The new design will be on a modern and very responsive platform. It will elevate the look of the site, performance, and information provided. SEO Strategy: With the new website platform, you will also have the flexibility to embed keywords and a comprehensive SEO strategy into the framework of the site structure. This is done by scooping and embedding the keywords of your competition into the background of the site. These words are not readable to visitors, but it is readable to Google. This advanced SEO strategy is very effective when trying to gain digital market share and be visible in the same places online where consumers will find your competition. Backlinking SEO Strategy: A key component of healthy SEO is a tailored backlinking strategy. This is achieved with utilizing other social platforms with regular content that link back to the site with the use of specific links and the same keywords as hashtags. Healthy backlinking will tell Google that the site is relevant and the content on the site is sharable and of value to visitors. Our suggestion to establish backlinking is by adopting a LinkedIn and Google My Business (GMB) strategy. Updated GMB pages create viability online and prove your content as a current source of valuable information. LinkedIn is the top conversion social media platform for B2B conversions. This is the platform I suggest adopting to elevate your digital authority. Blogging and Guest Blogging: Creating content monthly that increases the use of keywords and creates more backlinks is a core part of your SEO strategy. These will be produced by Cinch for review and posted to the site, GMB, and LinkedIn.
Findings and Reccomendations Competitive Analysis Identified in the weakness portion of the SWOT was a lack of knowledge of your competition. While some of the competitors are known, their pricing, service, and manufacturing models are not. To prepare Eagle to be positioned for bidding opportunities, client diversification, and to appropriately decide on adopting different manufacturing techniques, an accurate awareness of your competitors’ positioning is essential. We recommend embarking on a competitive analysis to evaluate as many factors as possible. This is usually acquired with research and employing a knowledgable resource to secret shop competition.
Marketing Channels LinkedIn and Google My Business can be effective marketing channels for businesses because they offer a variety of advantages. On LinkedIn, businesses can easily build relationships with potential customers by sharing content and engaging in meaningful conversations. Additionally, the platform provides access to powerful analytics that allows businesses to track their activities and the engagement they receive from customers. Google My Business is also an effective marketing channel as it provides a great way to increase visibility for a business. It allows businesses to appear in search engine results more often, thereby giving them greater exposure and visibility. Additionally, GMB offers a variety of features such as reviews, photos, videos, and more that are all designed to promote the business in an attractive way. We recommend that Eagle embark on utilizing both of these channels in their digital marketing strategy.
Digital Adoption - Sales Collateral and Manuals The utilization of digital sales collateral for the Eagle sales team will enhance this process by increasing efficiency in the sales process and improving customer engagement. Digital sales collateral is often quicker to access and share than printed materials, so it can help sales reps save time when presenting to prospects. Additionally, digital sales collateral can be easily updated with the latest product information or promotional offers, allowing a sales team to keep their messaging relevant and fresh. Finally, with online analytics tools available, a sales team can track how customers interact with digital sales collateral and make improvements based on the data collected. This allows them to better understand their audience and tailor their messages accordingly. This would be an excellent way to engage with customers and enhance Eagle’s branding.
Findings and Reccomendations Current SEO Positioning
The above graphics are actual findings on your URL compared to those of the competitors that were identified in the SWOT. This shows a large amount of market share for Eagle; however, all of the words that are populating are for “Eagle” search. There is very little overlap with your competition, and ideally you want to see more overlap and higher keyword frequency. These would be the key metrics used to set as a benchmark and plan your SEO strategy. We would reverse these findings for competition and identify viable keywords driving their traffic. These keywords would be populated into the website and blogs so that you will appear when consumers are researching products and solutions that you are able to compete with other businesses to win contracts and build relationships.
Setting Priorities Competive Analysis We strongly recommend that the first priority is to embark on a competitive analysis. We can guide the process and facilitate some of the research if required. This objective can be made as a goal to complete by the end of the first quarter of 2024. This would be billable by the hour or project depending on how involved you need Cinch to be in the planning or execution process.
Brand Evaluation In our discussion and tour of Eagle, there was expressed interest in possibly modernizing the Eagle brand. Because of deep brand equity with your current consumer base, this would be subtle but would elevate the look of the logo and, more importantly, the application of the brand. For example, Cinch could provide mock-ups of how to paint the equipment to showcase Eagle and the branding in a new way. Equipment in the field and in businesses should have obvious visual representation of the Eagle brand.
Website Re-design
STARTING AT: $4200
A custom-designed and fully responsive website will set Eagle up to increase their digital footprint. It will provide several advantages, including a unique and professional online presence, improved user experience across all devices, and better search engine rankings. It will allow Eagle to showcase your brand identity and stand out from competitors while also providing a seamless experience for users on desktop, mobile, and tablet devices. A fully responsive UX website design with CINCH will include the following basics: Temporary site while under construction (if required on urgent projects required within 30 days) Custom UX website design, including imagery and all graphic design for unique elements User experience element configuration: interactive maps, contact form, and user engagement tools, where required, not including third-party software Copywriting where required (up to 5 hours) Site navigation, custom slugs for SEO, and 301-page redirects, where required Mobile site configuration for a user experience consistent for all devices SEO and content marketing in all the initial copy on the site and in the backend page indexing for launch (ongoing SEO support outlined below) Domain acquisition (if not already acquired) Configuration for analytics and site data tracking Hosting and DNS settings upon launch ($485 annual hosting fee is included with all SEO Packages on annual terms) Testing and troubleshooting with the initial launch Final quoted price will be based on needs outside of a content transfer and the number of unique pages required for the build.
Setting Priorities Website Build Process Stage one of the build process will be a strategic planning session. This detailed session will cover goals for the site design, structure, depth, and required integration. The integration will include internal processes, social media, and customer service platforms. Once we begin building your website you can access a live link to view the status anytime. There will often be development that has not been published, however, it will allow you to see progress as we structure the site and its contents. Your first demo will be incomplete. There will be missing links and pages. This stage is to approve the look and feel of the site. You will see site transition, animation, and other key functionality. Once the initial layout is complete and approved we will begin on building the subsequent pages and their content. At this stage of the build, the only page width that will be accurate is the wide-screen layout. Smaller screens, tablets, and configuration for mobile will happen at the final stage of construction. The final launch of the site will include a site audit, SEO configuration, connection to Google Console, and Google Analytics. Reporting on these metrics is regularly available with monthly SEO packages:
SEO PACKAGES
Basic $550/month
For Growth $985/month
Full Speed $1285/month
Number of competitors for market share tracking and goal setting
1
2
4
Number of keywords
5
20
50
Blog posts/month for keyword capture and Google ranking
1/month
2-3/month
Weekly
Google My Business management
N/A
1/month
1/week
Image optimization
N/A
Included
Included
Social Media - competition reporting
N/A
2 competitors
Up to 4 competitors
Website speed audits
N/A
Included
Included
H1 Heading optimization
Included
Included
Included
Meta Description - monthly updates
N/A
N/A
Included
Backlinking optimizatiion
N/A
N/A
Included
Setting Priorities Photography and Videography A discussion was had on having a photographer come to Eagle for an initial shoot and be available on demand for subsequent photography. We suggest booking a date for the first shoot sooner rather than later. We will source photographers that can also make video footage and use drone work, where required. Photography and videography starts around $650/session.
Digital Marketing Once the new site is live and we are working towards gaining marketing share with SEO, I recommend that Eagle dives into a digital marketing plan. Cinch will create branded content and posts for LinkedIn and GMB. All of the content will blend the keywords that are being used in website SEO trends. These posts will be designed and written to bring attention to services and create opportunities for sale dialogue. LinkedIn pricing ranges from $485/month to $650/month, depending on post frequency. Google My Business pricing is dependent on the use of SEO. Posts are available as a part of SEO packages and can be supplemented based on the need for frequency.
Getting Started The next step to get started is to select the recommendations you would like to move forward with, and Cinch will prepare a contract and deliver a timeline proposal. Please reach out to discuss your preferred next steps: lindseyloring@cinchcomm.com.
Terms & Conditions All pricing and details in this proposal are 100% confidential and are not to be shared with others outside of your organization and expire 30 days from the date of delivery. This is not an official contract. Upon acceptance of this or a modified version of this proposal, a formal contract will be sent for signature. A signed contract and receipt of the deposit are required to start any work or additional planning. The amount of your deposit will vary based on the work required and will be clearly outlined in your contract.
READY TO GET STARTED? Pick your Package HERE:
Contract duration and notice required to terminate will vary based on the service provided and will also be outlined in your contract. Cinch Communications Inc. is a creative art and digital agency. We own all expertise and creative knowledge invested in client projects, however, all work created for our clients can be used at their discretion as a part of their branding. Cinch Communications Inc. reserves Copyright on all creative and intellectual property to be used for advertising and promotional purposes. These are clearly outlined and agreed upon in a formal contract.
Thank You for Choosing Cinch Communications Inc.
For questions about this proposal or to get started, please contact Mariah Blair or Lindsey Loring. mariah@cinchcomm.com lindsey@cinchcomm.com
www.cinchcomm.com
403-967-1600
D105, 5212 - 48 Street, Red Deer, AB
marketing@cinchcomm.com