The Challenge: Expanding into an Unfamiliar Market

Thrum’s competitor analysis offers so many benefits. It enables nonprofits and businesses to identify successful strategies from similar organizations. Additionally, it supports companies looking to enter new markets.

A case study involves “SmartMove Home Services” (a pseudonym for a mid-sized home maintenance and repair company) that has successfully cultivated a loyal customer base in its original market. Now, the company was looking to expand into a new community—but they faced some unknowns:

• Limited knowledge of local competitors – Who were the dominant players, and what were their strengths and weaknesses?
• Unclear customer expectations – What home services were most in demand, and how did residents choose providers?
• Brand awareness concerns – How could SmartMove stand out in a crowded market and establish trust quickly?

Rather than taking a trial-and-error approach, SmartMove partnered with Thrum to conduct an affordable data-driven competitor analysis and market assessment before making their move. The Thrum team designed a comprehensive benchmarking study, done by a team of experts (each with decades of experience), focusing on three key areas:

1. Market Landscape & Competitive Benchmarking
   1. Competitor Identification – Analysis of five leading home service companies, focusing on pricing, services, customer feedback, and online presence.
   2. Market Gap Assessment – Identification a lack of services like comprehensive maintenance packages, presenting strategic opportunity for SmartMove.
   3. Pricing Strategy Uncovering – Evaluation of mixed pricing models and pinpointing customer dissatisfaction, such as hidden fees.

1. Consumer Insights & Local Demand Analysis
   1. Homeowner Survey Insights – Targeted online survey to capture pain points, service expectations, and pricing preferences.
   2. Social Listening & Review Analysis – Review of online feedback and social media to identify common complaints and customer preferences.
   3. Untapped Audience Discovery – Interviews and/or focus groups with community stakeholders and homeowners seeking a reliable, all-in-one home services provider.

1. Brand Positioning & Go-To-Market Strategy
   1. Brand Differentiation Strategy – Thrum would partner with J2 Marketing to position SmartMove as a “trusted home care partner,” beyond just repair services.
   2. Pricing & Service Model Development – The project would find opportunities like a flat-rate subscription model for transparency and predictability, aligning with customer preferences.
   3. Marketing Channel Identification – The findings would highlight an untapped opportunity in localized social media and direct mail, despite competitors’ focus on Google Ads and referrals.

Smart Strategy Wins the Market

By leveraging Thrum’s competitor analysis and consumer insights, SmartMove Home Services will take a calculated, data-backed expansion step, avoiding costly missteps. Instead of guessing, they will enter their new market with a clear advantage, setting themselves up for long-term success.