What is it like launching into a new market?
Whether you are an established business launching a new product or a new company launching it’s first innovation, breaking into a market is hard. You believe in your offering but how can you make it compelling for others?
Part of the answer is viable evidence that supports a robust business plan.
CCI Ltd is a start-up venture seeking government funding to establish a high tech business that will produce advanced composite parts for the aviation sector. This new business will bring a new industry, new revenue streams and new jobs to the region where it will set up, if they can get the funding to build it. The company’s directors bring a wealth of advanced composite manufacturing knowledge to the new business, along with one of the world’s largest autoclaves.
However, in order to secure multi-million pound funding CCI needed to show that they not only understand their market, but that they have identified specific opportunities for growth over the next ten years. Also, that they understood their customer’s requirements and can tailor both the products and their messaging very specifically to these needs. They need to present a compelling, evidence based, story to investors.
Hoot undertook an in depth piece of market research into the aviation sector. We looked for evidence that would help support the business case and we unearthed insights that delivered opportunities. Through the market research we identified the specific audience that would be ripe for this offer together with their sector requirements. We could establish the value of that market and its growth projections over the next ten years and we unearthed the key stories in the aviation industry around which CCI could build its messaging to deliver the most relevant impact.
Example of some findings…
Here’s a couple of snippets which help build CCI’s compelling story… Did you know that composites make up 50% of the aircraft’s structural weight on the Boeing 787? Or that the world’s airline fleet size is surely and steadily increasing with record numbers of aircraft being ordered every year? We are all travelling more, further afield, and as consumers we want that travel to be as kind to the planet as possible, and building airplanes from composite materials achieves that. They burn less fuel. The aircraft manufacturers and buyers want that because not only does it help the environment but it gives them cost savings on fuel. A win-win situation that CCI can build their stories around in order to engage and compel their audience to action.
These findings have been submitted as part of a wider business case. To date this report is currently sitting with government officials who are finding ways to help push this opportunity through. The support of a government lends great weight to the total funding requirement. However, if you’re not looking to sway a whole country but need market insights to improve your own market position and help build your own story, then please feel free to find out more from us.