Reaching maturity stage in domestic market, seeking for international revenue growth through distributors, seeking local partner with experience
Problem:
Manufacturer from Wisconsin (USA) is reaching a maturity stage in their domestic market where most of their competitors are already operating internationally. A superior more complete and more expensive capital solution introducing a new technology with long sales cycles is being offered. Local regulations have not adopted been adopted to make the usage of the device mandatory, but is moving in that direction.
Solution:
Growthmedics has helped by navigating through the European landscape by using its network, expertise and sales capabilities;
- An experienced part-time growth manager and growth developer speaking multiple languages have been trained and a European office with warehouse has been installed in the Netherlands;
- Market research has been conducted resulting into a competitor comparison and key targets such as mapping key university hospitals, key opinion leaders, and distributors across 5 countries in several weeks;
- A multi-channel approach has resulted into targeting several hundreds of stakeholders across hospitals, distributors and KOLs. Existing distributor network has resulted into quick market feedback and guidance for next stages.
