Case Study: Customer acquisition strategy for a leading technology company. the organization turned to Arcus to help them develop a business growth strategy in the manufacturing segment. The company would draw heavily on Arcus’ research and strategy experience to identify vectors of growth for the company’s products and services in specific manufacturing segments. Read about the segment based approach to match products and services with customer needs in this case study.
Business Challenge
The company noted that it had an unexploited opportunity in some of its product lines to increase market penetration and deliver top line growth in fast growing segments with the likelihood of bringing the right products to market, and operate at far greater speed. A major obstacle: The company was lagging its competitors in the deployment of strategic solutions and sales processes.
To support the company’s long-term growth, it needed to improve its focus on optmizing internal and external selling processes and create a knowledge base of needs in the manufacturing segment. This would require deeper insights from perspectives of external (clients, prospects, lapsed customers) and internal (sales, marketing, leadership) influencers of growth. The challenge was to identify the right product mix to deliver substantial value on businesses of manufacturers with a well honed strategy that would leverage the company’s capabilities to leverage its superiority in specific market segments.
How We Helped
The company turned to Arcus to help them develop a five-year growth strategy in the manufacturing segment. The company would draw heavily on Arcus’ strategic insight and experience in the manufacturing segment as it revamped its business growth strategy—helping the organization learn to collaborate and embrace rapid change.
- Provided clarity and a deeper understanding of the most important revenue-generating IT buyers in Manufacturing and insight into new vectors of growth in the information and communications technology segment.
- Developed an in-depth understanding of the customer acquisition challenges, selling strategies and behavior related practices of customers in the manufacturing segment.
- Measured on an ongoing basis trends in purchase patterns, outlays and loyalty. The project will develop guidelines for characterization of the manufacturing segment and selling of products and services.
- Examined growth trends and spending patterns in the mid and large enterprise sectors, using a baseline year and examining IT budgeted spend of mid and large companies across over 40 product categories.
Results
Working together, Arcus helped design and deliver a blueprint for a new strategy with clear product and service portfolio mixes matched to manufacturing industries. No longer a secondary segment, manufacturing is now delivering substantial top line growth for the company.
Sales, Customer Support, Product and Marketing teams are co-led by key managers, and budgets are combined, reflecting the collaborative effort between the business heads and their product management counterparts.