Plastic and Silicone Injection Molding Company
Background:
The Company was established in 1990 and is known for their high technical competence and innovation in plastic and silicone molding. They are one of about a dozen companies worldwide with the ability to mold plastic and silicone rubber together into an assembly utilizing a single press within the same mold. The sales team is made up of molding and design engineers that are considered experts in their field.
Challenge:
Before engaging Capri Business Development, sales efforts consisted of utilizing outside sales reps, attending trade shows, networking and web optimization. The results were inconsistent as the engineers would stop the prospecting effort to process the leads they developed. Additionally, enthusiasm and focus were hampered by an average 18-month sales cycle and a lack of disciplined review and follow-up process.
Initial reaction to Capri’s proposal was skepticism. Capri claimed that they could bypass the standard procurement and RFP route and secure meetings with C and VP positions in engineering and product development to position their unique value propositions.
Process:
Capri developed a list of the top companies in plumbing fixtures, housewares and major appliances which The Company vetted and prioritized for the effort. Once approved, Capri developed the relevant contact list of titles in product engineering, innovation and operations.
Results:
Over 30 meetings in the first 90 days with some of the top product design companies globally. Over $10M in opportunities were identified and the first PO closed four months from the start of the program. A meeting with a VP of Engineering resulted in a $4,000,000 purchase order. The Company signed a two-year deal to ensure Capri would work for them exclusively.