Environmental Services: Entering a New Industry Sector
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.
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.
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.
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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