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Metal converterIndustrial marketing success storyKoch Group is a 40+ year old industrial marketing consulting firm providing a broad gamut of industrial marketing assistance activities to small and mid-sized manufacturers. Assistance activities include market research, strategic and tactical planning, plan implementation, target marketing, new market identification and qualification, existing market penetration, direct selling assistance, and trade show management. We also specialize in manufacturers' agent identification, screening and contracting. This client was strictly a reactive marketer. They required four members of their inside sales staff to be trained in account targeting and telephone qualifying. Koch Group consultants taught the client's staff to do market research to target potential accounts and then we assisted them in making a series of qualifying calls to prospective accounts. Using the methodology taught, the client developed 75 new customers in only four months. SITUATIONLocation: Midwest The company was operating in a reactive mode. All sales activities were a result of telephone inquiries, sales agents' inquiries and RFPs, or trade show participation. Four inside sales people, who also supported sales agent activities, handled inquiries and customer contact. Business was stable, but not growing, and existing customers were asking for price reductions. The sales agents wanted leads to pursue. Management believed that the existing inside sales team could be trained to prospect and develop qualified leads for the agents to pursue. No structured account development or qualification activities had ever been conducted by the inside sales team. Unknown factors included potential target markets that used expanded metal, what companies to target for qualification activities, and how to qualify these companies.
ACTIONKoch Group consultants analyzed the existing customer base and determined the SIC codes served, typical customer size, and average annual sales. We developed a profile of the ideal target customer focusing on identification via SIC code. We assisted the inside sales team in developing a list of potential accounts. We then developed and tested a short telephone qualifying survey and provided ~10 hours of hands-on qualifying training and assistance for each of the 4 inside sales people. Additionally, we spent 2 days physically visiting targeted local accounts with 1 of the salesman.
RESULTSThe company developed 75 new accounts in 4 months using the developed telephone qualifying methodology. The client now has the ability to develop and conduct proactive marketing activities and support their agents by supplying qualified leads. Next: Metal Fabricating >> If you would like more information about our industrial marketing services for manufacturers and industrial service providers, please use our contact form or email us at info@kochgroup.com.
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