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Strategy combined with Marketing is the process of
understanding markets and the competition.
"You're either the best at what you do or you don't do it for long" - Jack Welch, former CEO of General Electric
Honing Marketing and Sales Strategies
A division of a Fortune 500 company was not meeting their revenue objectives and they were losing market share. In an effort to prevent the further erosion of its market leadership positioning and its customer base, the company attempted to regain lost sales through activities directed solely at their sales strategy and sales force.
WMG was brought in when this failed. Using our marketing and sales strategy process, the company developed a strategic understanding of its capabilities (from their customers' point of view), its unique positioning in the market, and the changing market requirement. WMG worked with the senior management team, coaching and guiding them through the development of a new formalized marketing and sales plan, educating the senior management team in the planning process, and insuring that an effective implementation (action) plan was developed. The engagement provided the client with a repeatable methodology for maintaining and evolving the company's marketing and sales strategy. Management also realized the benefits of integrated market-based strategies that link technology development, product development, and business development.
Results achieved – Within six months the company moved from utilizing 65 -70% of its production capacity to over 90%. One year later, they are still operating at or near capacity, continuing to gain market share and new customers while meeting their profit and sales objectives.
Driving Sales Growth
An industrial equipment manufacturer ($35 million) found their sales had leveled off (flat for two years) in spite of all their efforts. They needed to be competitive in a rapidly evolving market. WMG applied their marketing and sales strategy process, resulting in a new marketing and sales plan, a renewed product management function and a reorganization of the sales organization. WMG provided the client with a repeatable methodology for maintaining and evolving their marketing strategy and product management function.
Results achieved – Equipment sales, add-on sales, and consumables have all increased in sales, a total of a 12.5% increase and their customer base is growing again. The company introduced a new product family in the summer and sold out their production capabilities for the year within months of the release.
Finding Hidden Value Added
A national manufacturer of electronic components ($24 million) was faced with a dramatic change in their major competitor's distribution strategy. The competitor replaced its dedicated and independent sales representatives with internet based wholesalers, changing its strategy to one based on price. This caused confusion within the market and the client company lost sales and some longtime customers.
WMG analyzed the market, customers, and their market conditions. Our analysis identified that the buying process was not as simple as the company thought. We identified several “value added” components of the buying process that were lost, ignored, or greatly reduced when their customers used an internet based wholesaler. We also identified the reasons former customers changed vendors – reasons slightly different than what the sales representatives reported to management.
Results achieved – The client made modifications to their selling process, internal processes, and to their existing distribution channel resulting in the end of sales decline and the regain of some of their lost customers. Their sales leveled off and are now increasing at over 6% per year. They are growing their share of the market, maintaining their margins, and reinforcing their relationships with their existing customers by providing the additional value added services – addressing the hidden “needs” that were identified during the engagement - positioning them for a strong growth – and effectively dealing with their competitor.
Make or Break Decision on a Product Line
A $45 million plastic extrusion company called in WMG to evaluate a product line family that was just not selling. WMG helped the company establish a product and market life cycle management process and then helped them develop a marketing plan for the product line. Cycle times related to product promotion, pricing, and channel management were significantly reduced. This was accomplished by establishing standard and consistent product/market management practices. We assisted the company in developing an integrated marketing and sales program that was focused on specific execution of strategic and tactical activities aimed at specific target markets.
Results achieved – Product line sales increased, the utilization of production capacity increased from 30% of plant capacity to over 70% within eight months while the sales force committed to this product family was reduced by 40%.
Structuring to Meet the Markets Needs
A $22 million manufacturer of high technology instrumentation found that their new product development efforts were behind schedule, lacked features and functions that the market demanded, and that their marketing organization was not effectively supporting their new product development. WMG identified some critical issues in the marketing and product management structure. For example, products were being developed based on the engineers' like and preferences instead of the needs of the market place.
Results achieved – The marketing management and product management teams were reorganized and are now working together. Product definition documents (specifications) are now more focused on satisfying market needs rather than creating an ideally engineered product – fitting the application (customer needs) more closely and within the targeted price range. New products are now developed and delivered to the market on schedule, within marketing specifications, and with budget
Call us at 763-476-2216 or email email@example.com to learn how we can help you deliver extraordinary growth and profits for your company.
Over 25 years experience providing strategy and marketing consulting to manufacturers and business-to-business clients.
Proven experience you can trust.