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Specialty metal producerIndustrial 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. A specialty metal producer approached us to teach their inside sales staff how to proactively develop new business prospects using proprietary tools we would provide to them and methodologies we would teach to them. SITUATIONLocation: Midwest This Midwestern producer of specialty metal products is regarded as an industry leader. They have been spun off from their parent company and found themselves in a situation where they had an excess on inside sales personnel that either had to become more productive or would be released. Koch Group provided the inside sales staff with sales training sessions designed to start with market research to identify high probability prospects and then close a portion using their network of manufacturers’ reps to develop new incremental business and maintain, or increase, their value to the company.
ACTIONKoch Group consultants developed a training program that took the inside sales personnel through the entire new customer development process. We taught their sales personnel about both 4 and 6-digit SIC codes to use to identify potential target companies and how to determine which geographic areas offered the highest market potential. We showed them how to develop lists of target companies in the selected geographic areas and qualify them by telephone using a prepared list of key questions and obtaining target company marketing literature. We coached the inside sales force as a group and individually on how to make successful telephone qualifying calls. We then provided hands on assistance to get each member of the sales force active and productive. Finally, we provided a number of days of field sales training to one of the inside sales persons.
RESULTSBased on input received from the inside sales staff, they had developed nearly 90 brand new accounts within 120 days of implementing the new sales development techniques taught to them by Koch Group consultants. This activity helped them to diversify their base of business and develop new, alternate, markets, previously unsold. The sales staff also indicated that their success should have been higher, but they continued to be pressed to complete on-going work assignments. Next: Metal Stamper >> 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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