As the organization’s customers began to take some of the component volume off-shore to lower price suppliers, the organization needed to look for other sources of revenue. The organization engaged Baker Tilly to analyze other potential markets and determine an appropriate marketing and sales approach.
Baker Tilly performed an overall market scan to identify market adjacencies to organizations current markets. Once the market adjacencies were identified, Baker Tilly conducted extensive analysis to determine possible volume and revenue projections. The revenue and volume projections prioritized the overall list to the top five. After the top 5 markets and individual companies within the markets were identified, Baker Tilly conducted primary research to define the buying behavior and value proposition attributes of the target markets. Upon completing the primary research, Baker Tilly designed specific market launch strategies to penetrate the markets. Each market had a set of unique value proposition attributes that attached to the target customer’s share holder, employees and customers. Specifically, Baker Tilly:
As the organization’s key customers moved some of their volumes off-shore, the organization was able to replace the revenue with volume from the new markets. The new markets helped them achieve 5% growth even though their core volume was decreasing. After three years, the new markets make up 35% of their total revenue.