An industrial goods manufacturer secures future growth through effective business growth strategies
Kanvic helped a leading manufacturer of industrial goods re-orient itself to seize future growth opportunities by achieving performance excellence.
Our client is a leading manufacturer of industrial goods used for a major process industry.
They were involved in sourcing, manufacturing, marketing and after-sales service. They had a large customer base located both domestically and internationally.
However, the client wanted Kanvic to guide them on how they should proceed to grow further in their existing markets.
Developed a complete picture of the market
Based on deep analysis of industry trends, market intelligence and interviews with product manufacturers, we projected that more than 80% of demand growth would come from the 20 largest players. However, we found that our client's current strategy and go-to-market model was not equipped to address this reality.
Leveraged proprietary tools to segment market more effectively
We went beyond conventional customer segmentation by using our 3D approach to identify seven highly distinctive customer segments. Of these, we identified the four most attractive ones for the client in order to focus their attention and energy.
Developed value creation tree
Finally, we developed a value creation tree that helped to illuminate areas where the client added value for its customers. This became the basis of shifting our client from a product selling approach to solution selling approach.
Future-proofed our client's business
Our work helped the client gain entry into bigger, high potential customers who were previously out of reach. As a result, the client's future business was protected.
Shifted mindsets to improve effectiveness
Our work helped in transforming the client's sales and service functions from an order taker mindset to a value merchant mindset.
Reignited cross functional collaboration
Our work also helped break down functional silos and bring cross functional alignment. As a result, the client could present itself as one company to its customers.