A Nordic Crane Manufacturer Immediately Increased Profits in China by Employing a Targeted Sales Strategy
A leading Nordic manufacturer of cranes and lifts needed to change its sales strategy in China.
Asia Perspective generated an updated market report and created a targeted sales strategy focusing on selling the most profitable products to the best customers.
Based on the new, targeted sales strategy, sales personnel were reallocated, leading to a reduction in operating costs in addition to the increased profits.
The client has a joint venture in China but was experiencing low profitability and a high operating cost structure.
Given that the overall market for cranes in China was booming, the company needed a more detailed and targeted sales strategy to reap the benefits of the opportunity in China.
Asia Perspective proposed an 8 weeks project focused on both internal improvements to the sales organization and its processes, as well as a review of the external market outlook focused on implementing the sales strategy to target profitable customers and products so as to immediately increase profits in China.
In the first phase, the team at Asia Perspective gathered the data needed to gain a comprehensive overview of the current market conditions and the company’s current product offerings.
Both quantitative and qualitative data was collected through desktop research and in-depth interviews with sales personnel.
Asia Perspective outlined the products, regions and channels for the company to focus on in order to gain higher profits and build a sustainable product portfolio in line with the market demand and future development.
The sales strategy focused on combining a presence in the larger mature markets as well as gaining a first-mover advantage in the fast growing markets created by new government investments.
A detailed and targeted 2-year sales action plan was outlined for the top regions in China.
The action plan, workshops, and subsequent reallocation of the sales personnel in China resulted in increased sales of the company’s most profitable products in high growth regions and a reduced cost of operations, yielding a win on both the sales and cost fronts, and achieving the client’s strategic objectives.