Specialty chemicals firm boosted sales CAGR by 2x by targeting niche markets and new strategy
03 Jun 2020
1 min read
Reinventing sales process and improve customer targeting in specialty chemicals industry
Context
- Client description: A leading specialty chemicals company serving leather, paints, textile, and plastics industry
- Opportunity: Client wanted to develop a go-to-market strategy for its specialty chemical product
- Sized market opportunity by customer and industry type. Quantitative understanding of market opportunity was reinforced through expert engagements conducted across various ecosystem stakeholders.
- Additionally, engaged with industry experts to understand the future demand outlook by different industry groups in the target industries (leather, paints, textile, and plastics)
- Conducted in-depth interviews with major customers, sales team, and leadership team to understand customer pain points and end-use of these chemicals. Identified the value proposition customer looks at while making purchase decisions.
- Mapped stages of customer decision-making processes by various industrial sub customer group
- Analyzed the company’s sales process through in-depth discussions with the sales team. Qualitative understanding of the sales process was reinforced by shadowing sales team.
- Identified right market niches and developed a targeted sales strategy focused on different product and industry group; Sales strategy focused on addressing value proposition for the industry