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Manufacturer of Plastic Injection Molds
Background
The firm manufactures molds used in plastic injection molding. The industries
served by the firm include
automotive, aerospace, toys, and tobacco. Products produced range in complexity
and usage. More complex molds can cost more than $75K a piece. Some of the more
simplistic molds can cost only a few thousand dollars. All products are sold
domestically to major manufacturers. The firm has annual sales of approximately
$1M.
Assistance Provided
A diagnostic review was performed by the NYS TAAC that revealed
serious weakness in the firm's marketing and sales planning
efforts. The diagnostic also revealed that all sales were unsolicited; the
firm made no attempt to contact potential customers. To increase the firm's
sales, NYS TAAC recommended implementation of an aggressive direct marketing plan.
The firm immediately acted on this recommendation. They took an experienced mold
maker who also had some limited sales experience and instituted a telemarketing
program. This employee now spends 1-2 days a week selling the firm's mold making
capabilities and services.
Project Results
By acting on the NYS TAAC's recommendation for implementation of direct
marketing, the firm was able to expand sales significantly. By implementing a
telemarketing program, the firm was able to gain new clients and reduce its reliance on too few customers. The
first month of this program resulted in over $200K in new business.
The firm has also been given the opportunity to bid on a
multi-million-dollar aerospace project as a result of this new marketing effort.
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