A leading Contract Manufacturing Organisation (CMO) came to us seeking help to grow their North American sales. They were well established in Europe with 35 sites and 9,000 employees, highlighting their prominent role within the industry. However, there was still room to improve, especially in North America.
Although they are the 5th largest company in the industry, they were looking to increase their customer base and seize more opportunities within the NA Pharmaceutical space.
Before our intervention, this leading company was doing €16M worth of business annually in North America. Once our systems were put in place, we were able to sell €74M in the first year, an increase of 463%.
We achieve these impressive sales increases by implementing targeted lead generation. We focused on highly targeted prospects with specific job titles at very specific companies within North America. We interacted on average with 25 people a day due to the specificity and segmentation of the targets.
Our lead generation approach allowed us to introduce new highly qualified pharmaceutical companies for them to establish contracts with.
We were able to make sure that the prospects had received prior information around the company as well as an introduction to what service they were looking for specifically. We were quick to disqualify any customers that were not looking for services matching our strength.
The Pharmaceutical sales cycle is anywhere from 6-12 months and the flow of information, especially technical information, is key. Therefore, we had to focus on the relationship, staying top of mind, and getting the right information in a timely manner.
Not only did we exceed expectations in terms of revenue, but we also managed to do it with an average profit margin of 40%.