“I really cannot say enough about working with IMEC. To have a resource on-call with expertise that relates directly to our business and who is truly invested in our success has been a fantastic thing.”
Successes in Customer Engagement and Technology
Managing a portfolio of customers from a broad set of industries had served Armoloy of Illinois well over the years –with consistent sales and on-going improvements to internal operations, the company decided to take a fresh look at their marketing program effectiveness. As many manufacturers had in recent times, Armoloy had scaled back on more traditional marketing efforts –sending sales representatives out on the road, attending trade shows, creating direct mail marketing literature –in hopes that a penny pinched here would increase profitability there. But even with a diverse base of customers, Nolan Hannan, General Manager, and his team felt they could grow revenue by making stronger effort to increase penetration with current customers and expand in existing industries. So Nolan reached out to his trusted partner and Regional Manager at IMEC to take a closer look at his options.
With IMEC’s growth specialist on board, they quickly employed the support of StratMarketing Group for their help in developing a scalable project for Armoloy to test methodologies and best practices around marketing that would result in the generation of new leads. “We were really glad to have a team on board that understood our objectives and were able to help us shape our strategy,” said Hannan. “It was refreshing to be in touch with people that had the expertise that we were lacking internally and that really listened to us. “The biggest opportunity identified in the early discussion was the expansion within the pump and valve industry; currently Armoloy was serving roughly 5% of the over 800 manufacturers and distributors domestically. “We really struggled with how to reach new customers or expand knowledge of the brand with existing customers,” added Hannan. “Once it was laid out it really just clicked for everyone on our team and we were excited to get started.”
By developing a prospect database and a marketing platform to automate the Armoloy brand messages, Hannan and team were able to monetize every dollar spent generating leads and gain scale in their efforts with limited resources. The addition of email marketing and the ability to nurture leads that are both new to the company and those that are existing customers, Armoloy was able to continue to drive sales conversations in a more rapid manner. With a previous sales cycle time of 5-6 months, Hannan quickly saw the return of his team’s marketing efforts with lead times cut in half and a steady increase in inbound leads. The team now has recommendations for continuing the strong progress with new and existing customers as well as identifying opportunities in new market segments to replicate the process.
- Project revenues surpassed investment before conclusion
- Reduced sales cycle lead time by 2-3 months
- $5,000 cost savings from industry research platform aversion
- Established analytics program for lead management