Environmental Services: Entering a New Industry Sector
Challenge
A global chemical engineering and environmental services firm came to Opus Partners for advice on strategies to help them enter a new industry sector. The firm was one of seven companies targeting this market, which has financial potential of over $700 million. While it had superior technology, the company’s challenges included:
- Limited sales and marketing staff that needed to make the best use of resources to assess market environment, identify appropriate partners and maximize potential sales opportunities.
- Inability to establish relationships with key constituencies, including regional partners and government/regulatory agencies to promote their products with local municipalities.
- Several competitors who had invested more heavily in sales and marketing.
- Limited visibility and marketing experience in the U.S. market.
Assessment
Opus Partners provided the following assessments:
- Profile of company and competing companies—technologies, marketing, market placement and visibility among target audiences.
- Profile and evaluation of existing partners and potential regional partners—market presence, local contacts, partnership structure, tenure and contribution to company’s sales efforts.
Solutions
Opus Partners developed the following tools for growth:
- Template to identify and profile potential regional partners.
- Development of industry trade show plans to make efficient use of time in meeting the right prospects and potential partners.
- Gap analysis.
- Non-technical, articulated differentiators to use in speaking with key constituencies.
- Creation of targeted press releases to promote company successes regionally and in trade publications.
Results
The company achieved the following as a result of the Opus Partners recommendations:
- The company’s sales grew 145% in the first year.
- As a direct result of competitive analysis and positioning, the company now wins bids against one of its leading competitors, who spent heavily on sales and marketing.
- The company developed better awareness among regulators, partners and municipalities.
- The company now uses a template in selecting channel partners, and works with 10 new partners. The result has been qualified leads in the sales pipeline.
- The company hit its revenue forecast in Q4 2005 after program implementation.
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