COACT Develops New Business Opportunities with High-Value Targets for Full-Service Metal Fabricator

A large full-service metal fabricator hired COACT Associates to research unpenetrated markets and develop new business relationships with high-value targets.

Though they had a strong presence and ongoing business in other markets, this metal fabricator wanted to explore potential opportunities in the medical, solar, and material handling industries.

Research Shows Which Industries Work (And Which Didn’t) 

After launching a business development and research campaign, COACT quickly identified that the solar industry was not financially stable and did not have a strong need for metal fabrication.

Through other outreach efforts, the COACT team also determined that the medical industry would not be a great high-volume fit.

However, they discovered that material handling could be a good fit in certain circumstances where there was the production of material handling equipment and vehicles with wheels.

Launch of New Campaign  

After these initial findings, COACT consulted with this metal fabricator on best steps moving forward.

A year after their campaign started, COACT shifted business development efforts to a strategically selected list of 150+ prospects that would appear, on paper, to align with the core competencies of this client.

To enhance this campaign, COACT provided this metal fabricator with marketing support including conducting an on-site photo shoot at one of this company’s facilities and revamping their prospect-facing presentation deck.

Results  

After this change in direction, COACT determined which of these high-value targets were ideal customers for this metal fabricator and which were not due to volume and project work.

COACT strategically positioned and turned over new opportunities with high-value targets including:

• A global industry leader in material handling and industrial lift trucks and equipment
• The material handling equipment division of a Japanese multinational corporation and conglomerate
• A $40.3M forklift manufacturer

In the end, this metal fabricator developed new and ongoing relationships with high-value targets such as these, which led to significant business growth.