The Business Problem
Reliance Worldwide had recently acquired StreamLabs, a consumer facing, water management Internet of Things startup. Reliance, seeking to diversify its revenue and enter the consumer market, saw StreamLabs as a catalyst for the global company’s growth strategy. But StreamLabs was an unknown brand with an undefined customer base.
Three Five Two was brought in to solidify StreamLab’s value proposition and brand positioning, engage the right audience for StreamLab’s first foray into the consumer market, and relaunch the new acquisition to the world.
What We Did
We worked across multiple business streams to launch the smart home water monitor in-market and begin attacking StreamLab’s growth goals. We identified our target market through a research and design mix that involved needs analysis, empathy mapping and proto personas development, among others. While we explored several B2B audiences, we honed in on the consumer market with a few key homeowner segments, testing product messaging and value props through a series of microsite variations. By the time we launched in-market, we had a strong evidence based hypothesis about which messages would resonate most with our audiences.
We stood up various areas of the business - new branding, a product-focused website, physical packaging and other marketing materials, and established an Amazon Marketplace presence that would eventually account for more than 50% of sales. We trained internal marketing teams on the new marketing strategy, as well as how to update and operationalize their website.
As the smart home water monitor was a new product that span both a legacy plumbing category and the mostly untested smart home category, our strategy included educating the market on the benefits of both the product, but also the quality of the product in comparison to competitors that had been in market longer than StreamLabs and had bigger infusions of capital.
Monitor was only StreamLabs’ first product to market. Control would soon follow, and Reliance wanted to further innovate along its business model so we explored launching a subscription model as an additional revenue stream. Our portfolio strategy had to encompass a strong value proposition so that we wouldn’t create confusion with consumers as we introduced each new product.
Our multi-channel approach included a retail strategy for brick and mortar partners such as The Home Depot, Best Buy and Lowe’s which we then amplified through digital marketing efforts. From driving foot traffic to capturing in-aisle attention, we ensured that homeowners and professionals alike would discover StreamLabs when looking for an effective home water monitoring solution.
Reputation management and customer retention were critical as we tried to establish a strong customer pipeline. We leveraged email marketing and retargeting heavily to ensure we kept customers engaged with our brand and portfolio, while StreamLabs work on streamlining customer service support. We leveraged industry influencers to help with brand reputation and education, especially as the category was still in nascent stages.