How Strategic & Tactical Marketing Helped Rebuild the Brand
Equity of a North American Equipment Manufacturer
The Situation
In 2004, F. L. Smithe Machine Company of Duncansville, Pennsylvania purchased the assets of a Montreal based flexographic press manufacturer, Aquaflex. At the time of purchase, the Aquaflex brand value had seriously declined due to under capitalization and the lack of ongoing research and development. Aquaflex was no longer considered to be a viable brand by the package printing industry.
F. L. Smithe, an international leader in the design and manufacture of complex automated envelope converting machines, purchased the Aquaflex brand to diversify their manufacturing base and create a new revenue stream with double-digit growth. At time of purchase, F. L. Smithe had limited experience in the packaging industry.
The Need
F. L. Smithe realized that to achieve aggressive growth, they needed to reengineer the Aquaflex product line to incorporate advanced servo technology. The company quickly designed and developed a prototype of a revolutionary new flexographic press capable of exceptional print quality at very high speeds. Unfortunately industry confidence in the Aquaflex brand name was at an all time low. They knew they had an industry-changing product and to sell it, they needed to rebuild the brand’s prestige. The company’s CEO, Edgar Smithe, set a goal of a 50% growth each year for five years. F. L. Smithe needed expert marketing help to achieve this aspiration.
The Decision
F. L. Smithe asked industry leaders for recommendations on a marketing communications firm and Concept Company was at the top of the list.
F. L. Smithe Vice President, Mac Rosenbaum, noted, “I was familiar with Concept Company’s work, they had successfully introduced multi-substrate printing for Comco International. They helped elevate Comco to an industry leader in just a few years.” Rosenbaum met with Concept Company’s President, Robert Middlestetter, at a Chicago trade show and they came to an agreement while enjoying a couple of hotdogs.
“We chose Concept Company because they
understood our business problem and were
highly focused on delivering the desired results.”
The Process
Applying our VOSTI™ process, Concept Company conducted an alignment process to clearly identify F. L. Smithe’s vision and desired business outcomes.
Analyzing information gained from interviews, Concept Company made recommendations and developed a campaign strategy. With the campaign strategy approved, Concept Company then developed the tactical elements required to implement an aggressive marketing and PR campaign.
The Implementation
Phase I—Transfer Credibility
F. L. Smithe was (and is) a well-respected, 100-year-old family-owned business in solid financial condition. Our first task was to transfer that stability and credibility to the Aquaflex name. This required leveraging F. L. Smithe’s strengths and reputation as a global technology leader in the envelope converting industry. Applying the company’s engineering strengths to the development of a next generation servo-driven press sent a message to the industry that the new FPC Servo was the true offspring of both Aquaflex and F. L. Smith. Aquaflex was no longer the poor stepchild but was now part of a respected and financially stable family. The assets of stability and credibility were successfully transferred to the Aquaflex brand name.
Phase II—Redefine Performance at the High-end
The launch of the first FPC Servo Press made it clear that there was a new sheriff in town. Aquaflex claimed superiority and invited their competition to disprove it. This was an aggressive preemptive posture born of the knowledge that Aquaflex really did have a superior product. We also knew that due to the unique configuration of the print-head no one could compare “head-to-head” with the Aquaflex technology. Almost immediately, Aquaflex was acknowledged as the emerging technology leader in the industry.
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