Life science equipment company
How we multiplied the Australian business of a European life science equipment company in just four months
A European life science equipment company was present in Australia for more than a decade, but with limited success. Being distributed by a large global distribution company, there products were never actively marketed, but only offered if a prospective client explicitly asked for.
All sales and marketing decisions were taken based on perceptions, not facts. Nor the Australian market have been fully understood, nor was the positioning of competing manufacturers / distributors clear.
As a direct consequence, customer satisfaction and sales deteriorated year by year, as the distribution partner was not able to understand customer needs, and to offering compelling custom-tailored solutions to the end customers.
In order to find out what they needed to do to grow faster, the company contacted Asia Dynamics to do a market survey to help them to better understand the Australian market. What is important to Australian customers, how do the customers perceive the brand and how could the business be brought to the next level in terms of sales volume and professionalism?
To be able to define a compelling strategy for growth, the first step was to establish a sound factbase on the Australian market:
- Overall Market Size (units sold per year)
- Market Share per Competitor
- Key applications and their volume per year
- Customer requirements per industry / application
As no sales planning has been established by the former distributor, Asia Dynamics set up a temporary call center to identify and validate each potential client in Australia – in total 2’300 addresses. By giving a phone call to each of these companies, Asia Dynamics could verify their business scope, their key applications, the current equipment they use and identify imminent replacement needs.
Based on all this information the client decided to establish their own marketing, sales and aftersales operation in Australia. At the same time, Asia Dynamics took over the entire back office function, to ensure that the newly hired sales person can dedicate their entire time on value-adding tasks.
Thanks to the perfect Business Development preparations done by Asia Dynamics, the newly hired sales person was able to jumpstart sales. By leveraging the comprehensive account planning, the sales organization was able to increase the number of leads by a factor of 10, and to increase sales by a factor of 5 within just a year.
In addition to that, the client was able to define a new blueprint on how new markets can be developed with limited resources, and within a short period of time.