Developing New Markets
We helped a customer to identify new potential customers in an unfamiliar market. Utilizing our data, we identified a big market potential and delivered a shortlist with the most promising customers. Our research transformed to real business opportunities; our customer is in advanced negotiations for some large contracts.
Our customer, an Austrian producer of sustainable packaging material is currently developing a new sales strategy, as rising competition in the market resulted in a strong pressure to develop new market.
Due to rumors in the industry, the Austrian company has already suspected for sometime, that there might be a significant market potential in Poland. However,the regional sales manager for Poland insisted that he knows all the players inthe market, and that the market potential is very limited.
After years of accepting the unproven fact, that there is no relevant market in Poland, the new management decided to have a second look. Therefore Delphi was asked to analyze the Polish market and to verify once and for all, if there is a potentially attractive market in the country.
After receiving a list with current and past customers from our client, it took us less than a week to deliver an in-depth analysis with recommendations to our customer.
After analysing some major datasets, wecould soon confirm, that Poland is indeed a major player in the European market for the specific packaging materials. Admittedly, this is a nice fact to know for our customer, but it doesn’t create any additional value yet. Therefore, we utilized a smart search approach, in which a Boolean expression was combined with NLP to produce a list of relevant companies. This list, which contained the financial information of all the companies was then contextualized.
We used the customer list received from our client and by utilizing our databases we added the financials of the already existing customers. Finally, we combined key findings from both company sets and produced a ranking for the most attractive potential customers, including contact data and a sales potential.
We are glad that we could truly create some value for our client, who is already in advanced negotiations with some of our top picks only a few weeks after we delivered the project.