A supplier of capital equipment faced sudden down turn in orders. While they knew the entire industry was suffering because of foreign economic difficulties, they decided to try something new - identify new opportunities.
They also recognized that people will say things behind your back that they will not say directly to you. They turned to us to both develop and execute a customer and market survey.
We crafted an interactive survey designed to capture the information our client needed without imposing any burden on the targeted customers and market makers. We then put together an executive team to conduct the survey. We used talented people who would both conduct an effective survey and represent our client's interests.
The results were:
We had a 40% participation rate compared to a 1.5% to 3% rate for other surveys.
25% of the survey participants did not know our client and did not think they had an application for their products. Our client knows they do and was able to target significant national accounts for aggressive follow up.
Because of layoffs, reorganizations and other actions in the market, many of the present decision makers were new to their roles and did not know of our client's superior products. Our client was able to develop an educational approach to selling to these accounts and established new and stronger relationships.
Our client is now out building business while the competition is wondering when the market will come back.