Growth and Scale Up
GTM strategy for a specialty chemicals company
03 Jun 2020
Context- Client description: A leading specialty chemicals company serving leather, paints, textile, and plastics industry
- Opportunity: Client wanted to develop a go-to-market strategy for its specialty chemical product
Our Approach- Sized market opportunity by customer and industry type. Quantitative understanding of market opportunity was reinforced through expert engagements conducted across various ecosystem stakeholders.
- Additionally, engaged with industry experts to understand the future demand outlook by different industry groups in the target industries (leather, paints, textile, and plastics)
- Conducted in-depth interviews with major customers, sales team, and leadership team to understand customer pain points and end-use of these chemicals. Identified the value proposition customer looks at while making purchase decisions.
- Mapped stages of customer decision-making processes by various industrial sub customer group
- Analyzed the company’s sales process through in-depth discussions with the sales team. Qualitative understanding of the sales process was reinforced by shadowing sales team.
- Identified right market niches and developed a targeted sales strategy focused on different product and industry group; Sales strategy focused on addressing value proposition for the industry
Key Insights / Outcomes
Identified the gap in selling process and approach; sales process was not solution oriented and customers were not able to recognize the value addition from chemicals sold by the client
Redesigned the structure of sales team and created sales processes for each of the target market
Praxis Value Delivered- Client was able to increase its sales CAGR to 2x of management’s growth estimates
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