HEALTH CHECK
The table above presents a RACE matrix (Reach, Act, Convert, Engage) assessing three competitors in KALA’s scope.
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Freitag - a well-established, Swiss company producing messenger bags made from used truck tarps.
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Uncommon goods - selling a variety of handmade, sustainable goods and gifts including scarves, jewelry and more.
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Sandqvist - a Swedish bag producer focusing on long-lasting, organic and recycled materials.
All three competitors sell their products in the US among other destinations. For each category of the RACE matrix, certain indicators have been chosen to showcase, how successfully each company uses the available marketing opportunities to reach, act upon, convert and engage their consumers. The points were given based on the following criteria:
1 = non-existent 2 = existent, but rather unsuccessful 3 = decently applied/used 4 = efficient, but expandable 5 = Successful Application
The first couple of rows focus on REACH, which helps companies to target their customer segments. It is supposed to check whether the company is present on all channels and the different types of media they use, whether they have implemented advertising in their marketing strategy and the accessibility of their touchpoints. Therefore, the table covers the website/web shop but also the available and most common social media platforms Instagram and Facebook. The table also assesses the keywords each company uses, advertising and Search engine optimization.
ACT is more about the efficiency of the audience segments and the customer experience they offer. To identify customer’s opinion, the table assesses the background story as well as calls to action. Both are necessary to convince customers to move to the next step. Additionally, potential customers often expect support which is why interaction with the customer for instance a chat box is covered too.
Looking at CONVERT, the ease of buying plays a significant role. Companies should highlight their unique selling point, pay attention to their social media conversion rate and offer a detailed and unique product description. Promotion and sales as well as the on- and offline experience contribute to a successful conversion stage with the customer. Which is why, the table assesses exactly those points.
ENGAGE becomes important once a customer base has been established. It focuses on how a company can make customers return and how they can encourage them to spread the word about the products/services. Therefore, the table assesses advocacy, shares and likes, newsletter and of course referral.