The expert for international market development and expansion was responsible for sales in Asia at a hidden champion for special process technology. She initiated the systematic market development in South East Asia. The hidden champion generated 1/3 of the company's total turnover in the region. The aim was to secure and expand this turnover.
Special process technology is used in the research, development and production of materials and substances, known as suspensions. The company's success depends largely on tapping into international, R&D-driven, sometimes volatile high-tech markets such as technical ceramics, printed electronics (IOT and semiconductors) and life science. In Southeast Asia, key globally operating customers of Hidden Chapmion already have production facilities. The requirements of these customers for fast service and support are high and sometimes decisive for purchases.
Market analysis and requirements profile for sales and service partner created
In a first step, the current interim manager examined whether the market potential justifies the costly establishment of a new sales and service partner. In cooperation with the German-Malaysian Chamber of Industry and Commerce, she prepared a market analysis in order to evaluate sales segments, their size and growth potential. Price structures, import conditions, customs duties and government technology support programs were also included in the assessment.
The second step was to define a requirements profile for an independent sales and service partner on this basis. In addition to the sales organization, access to the relevant market segments, technological knowledge and an existing service structure were important criteria.
New sales partner identified and trained in Malaysia
The manager identified potential partners in Singapore and Malaysia. After a pre-selection and on-site interviews, she narrowed down the group of candidates further. The final decision in favor of a candidate in Kuala Lumpur (Malaysia) was made together with the management.
In the next step, the interim manager built up the new sales partner. She trained the technical sales team in the technological and procedural added value of process technology in relevant applications in order to be able to provide advice in pre-sales and after-sales, which are critical to success. Another focus was on service training.
Market entry strategy agreed - mentoring program for new partner
The manager agreed on the market entry strategy together with the new partner. This included, among other things, linking the partner with existing R&D and production customers in the region. This was done via a mentor. This was an employee of the hidden champion with extensive knowledge of processing, customer and competitive structures, who was assigned to the new partner. New leads were approached via conferences and workshops on processing theory and practice, which were also used to address potential academic multipliers and political bodies.
Revenue expectations exceeded by 60 percent in the first year
On this basis, revenue expectations were exceeded by 60 percent in the first year. Untapped customer potential and submarkets were systematically developed through active sales in the region. Fast service and support support the quality and delivery capability in production and support sales in the R&D regions of major American and European customers.
