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Diversify – and Fast: Surviving the Telecom Bust
The Challenge
As the telecommunications industry began to crash, metals fabricator COW Industries was at risk of losing 85% of its business. COW needed to diversify its client base – and fast. COW brought in Kelly Allan Associates, Ltd. for help with turning the business around.
The Outcome
KAAL helped COW define and identify their new target market of companies that would be a good fit with their services.
KAAL then directed efforts towards a quick marketing and sales rollout:
- Developed marketing campaigns which targeted prospects from other (non-telecom) industries. This resulted in significant increases in recognition and positive imaging.
- Created sales scripts and call scripts to coordinate with marketing campaigns and sales messages. This resulted in higher hit ratios.
- Produced support materials that spotlighted COW’s expertise and ethics those aspects benefit clients. This resulted in greater sales.
As these campaigns began, KAAL also worked to help COW strengthen the sales efforts:
- Tested product messages, such as significance to prospect of pricing, industry expertise, and niche-positioning.
- Improved sales process and presentations, that helped COW better differentiate itself from the competition – and relate more meaningfully with the customer.
- Developed value-added proposals, so COW didn’t have to sell solely on price.
- Provided information to COW about how to sell to, thru, and around purchasing agents.
- Suggested new sales approaches to take advantage marketplace realties (instead of lamenting or fighting them).
- Worked with COW board of directors to help them better integrate sales and marketing into their business strategies.
The Results
Within 60 days, COW experienced an increased hit rate for sales calls, appointments, and RFPs. COW was bringing in more business, while many of its competitors were either seeking bankruptcy protection or going out of business.
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“With your guidance we now understand that marketing and sales are systems with inputs and outputs, and as with all systems, it is possible to standardize and improve them. Your work has been very helpful. The proof is that your approach has completely changed how we approach a customer or prospect – and has contributed to our success during very tough times.”
~ Rock Kauser, COO
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Challenge: Diversify client base to survive looming telecom bust.
Outcome: Identified new target markets, and developed marketing and sales strategies, tactics, and materials to support COW’s target market shift.