Conveyor technology manufacturer opens up new markets driven by data
Conveyor technology manufacturer opens up new markets driven by data
For many decades, this medium-sized champion in the manufacture of screw and chain conveyors has been extremely successful internationally. However, business in the core sectors of sugar and grain is becoming more difficult, and there is a high level of dependence on planning offices for sales. It is necessary to find further areas of application for the existing products and to understand the typical customers and their needs in these areas. Furthermore, sales territories have to be defined and for this purpose the specific companies have to be identified, which should be won as target customers in the direct acquisition.
With NEUTRUM, it is determined worldwide which industries and types of companies are potential customers for the respective technology—and how best to approach them. This involves identifying target industries and possible use cases, as well as highlighting the aspects that are particularly important within each sector (e.g. especially stable operation at low speeds in mining). After evaluating the fit with existing products, the segments with the highest alignment are analyzed to understand exactly what engineers and procurement specialists are looking for when considering new technology. On this basis, the tool assesses how many of them are active in the market, how demand volume evolves over time (trend), and how intensively competitors are targeting potential customers. Using this information, the most attractive target countries and regions are defined, and within these markets, competitors and their market strength, sales channels, and budgets are analyzed in more detail. For the most promising regions—those with high demand and manageable competition—suitable target customers are identified: companies with the right industry and use case profile that are highly likely to account for the measured local demand and that have not recently been associated with competitors.
Based on analyses with NEUTRUM, the manufacturer completely realigned its sales strategy within twelve months using its existing product portfolio, acquired identified target customers with high sales efficiency, and built references in new target industries with new use cases. As a result, the company succeeded in continuing to grow profitably despite declines in its core segments and in strengthening its own sales capabilities, rather than remaining in constant price competition with engineering consultancies.
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