Strategic need for customer OEM expansion, flexibility and cost effectiveness are key

Problem:
A small sized orthopaedic contract manufacturer based out of Indiana (USA)
has a strategic need to expand their customers base. They are operating in a niche market and both of their largest customers have merged increasing their dependency while their purchase orders are decreased. They know they have to go international to grow but do not want to hire someone without knowing the market and investing in the costs and risks associated with hiring in Europe.

Solution provided:
GrowthMedics has helped by providing a strategy and sales development activities:

• To build trust and reduce threshold of conducting business as an OEM supplier, a European office and multilingual part-time sales team is installed and trained
• Key OEMs and competitors are mapped and opportunities per key target are identified
• Marketing tools are localized to support a localized sales approach
• Lead generation, cold calling, e-mail outreach, prospect factory visits and tradeshow visits are conducted to introduce, show samples and follow up on interest levels
• Long-term projects are identified and consistent follow up in local language are established to build relationships and trust in a new market
• Several new supplier agreements are achieved with global OEM’s from Italy, Germany and Switzerland resulting into POs and RFQs for longer term projects.

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.

Introducing new product in a new market, need for guidance
and experienced partner

Problem:
A manufacturer from Ohio (USA) has no presence in the EMEA market and is planning to sell the company in several years. There is a missed opportunity in the market considering the market size and so far the focus hasn’t been on Europe but on other parts of the world. The global director has its hands full and close to retirement. The product is different in Europe and competitors, the usage will affect the way clinicians operate.

Solution:
GrowthMedics has provided a go-to-market strategy and a sales development program for execution:

• A local team of a part-time growth manager and part-time growth developer have been installed together with a sales office in the Netherlands and a satellite office in Dubai (UAE);
• Technology is complex, requires to study clinical studies, it includes a clinical sale. After several weeks the team is able to pitch to distributors and costs a few months to sell direct to clinicians;
• A comprehensive market study has provided insights on competitor differentiations, market needs, key targets and attractive markets.
• KOL’s have been approached for demonstrations building European cases and references;
• A country by country market plan has been developed. Key distributors have been approached, visits, sales presentations, trainings, demonstration units to conduct among their key customers have been facilitated;
• Within 12 months 4 exclusive partnerships have been signed in Nordics, UK, Poland and Italy, several pending with opening orders.

Problem:
A medical device class 1 start-up based out of Canada, Toronto has a unique, patented solution and is looking to expand into the European market due to the market size and market interest. There are insufficient funds currently to invest in a full-time employee, consultancy firm or hiring an international sales manager.

Solution:
GrowthMedics provided a cost-effective co-investment structure to help launch and scale revenue in the European market.

• A contract has been signed that includes a long-term co-investment structure where GrowthMedics would invest in sales resources and benefit from commissions, profit and equity % based upon performance. A small base fee to cover daily operational costs have been agreed upon;
• A part-time growth manager has been assigned, trained and local marketing materials have been developed;
• Using the experience and infrastructure of GrowthMedics several clinical trials direct and through distributors in hospitals among nurses have been setup. Gathering this feedback has been important for successful distribution development;
• An extensive lead generation program has been executed based upon the key targets across Nordic, central and western European countries;
• Stocking order of $50K in the UK and $25K in Turkey have been signed off. Exclusive partnerships in Sweden, Netherlands, Germany and Ireland are being signed all in the period of 18 months.

Insufficient exposure in European online market

Problem:
A US based vet manufacturer is growing its footprint through GrowthMedics help in developing and managing local distributors across the European and Middle Eastern market. Distributors are investing in online marketing, but they have a large portfolio causing a lack of focus in online exposure. Vet practices overall purchases individually and based on research there are substantial searches of industry keywords in local European countries

Solution provided:
GrowthMedics has provided an online marketing plan with the goal to create more exposure and leads in France, Spain, UK, Germany and Italy

• Microsites have been developed in local languages on local domain names in the countries mentioned above with translated content;
• Download material such as whitepapers, e-books, blogs have been developed and translated;
• A SEO program by country have been installed to grow local google rankings and visibility;
• Lead pages are being developed and advertisement campaigns in local languages through Facebook and Linkedinhave been setup to target local veterinarians and navigate them to the website;
• Significant increases in leads and website traffic have been generated. For a full report on the outcomes please contact us.

Pressure for international growth through distributors, lack of capacity, speed is important

Problem:
VP international of sales of a mid-sized healthcare retail company based in California (USA) has his hands full on managing global sales. There is a strategic need to increase global sales and pressure from Private Equity to expand rapidly. Due to the distance, time zone, language barriers and lack of capacity the VP is struggling to get new distributors on board and support existing distributors on the ground. The board is requesting a strategic growth plan for the coming 1-3 years.

Solution:
GrowthMedics assisted the VP by managing and building the international sales in the European market by:

• Installed a European office and trained a capable sales team speaking several European languages in one month time;
• Delivered a comprehensive competitive analysis, market attractiveness scan and distributor survey on their needs and challenges resulting into a go to market plan with KPI’s for the coming months;
• Introduced, optimized and developed sales and marketing plans with current distributors (8) creating an increase of 300% in sales in 2 years;
• Expanded the distributors to 55 distributors in 4 years time, grown revenue from 1,4 mln to 4 mln in 4,5 years time;
• As revenue and distributors grew, team members are added resulting into a 4 member part-time sales team, allowing a flexible consistent scalable local salesforce.