INCREASING SALES WITH A PROVEN STRATEGY:
With a shrinking domestic industrial customer base, successful U.S. companies focus their marketing on expanding sales into global markets. A Dynex sales office in the United Kingdom, established in 1956, supported distributors in European countries. Participation in trade shows, such as Hannover Fair in Germany, spurred the company’s initial growth in global sales.
More recent initiatives to expand into South America, Asia and the Middle East followed that successful model: Participation in targeted industry exhibitions to support regional distributor sales. Focusing on sales to specific industries with global reach provided the marketing programs with an efficiency of scale. Strategies, messages and support material could be carefully modified for international use.
THE OIL & GAS MARKET
Sales of Dynex pumps in the global Oil & Gas industry lead to a natural expansion of sales outside of North America. A new marketing initiative in Brazil was driven by the country’s rapid gains in production and reserves. Exhibits at major trade shows in Rio de Janeiro and nearby Macae resulted in new distributor representation.
Exhibitions in Singapore and in Abu Dhabi, U.A.E., marketed the Dynex brand and significantly increased sales in those markets.
Sales were supported by online advertising, including GlobalSpec, with its searchable directory, product announcements, newsletter ads, and a banner advertising network. Broad online advertising in GlobalSpec, and product listings in Direct Industry and other industry-specific websites supported increased worldwide product awareness.
Prospects were driven to the Dynex website and recorded for sales follow-up and nurturing.
THE CHINA INITIATIVE
China is an attractive market with its 1.35 billion population, rising incomes, and an increasingly open business environment. Studies indicate that Chinese buyers seek top quality and superior performance in products from Western suppliers. This customer need is consistent with the Dynex brand promise.
Initial Dynex marketing efforts in China focused on finding distributors that sell into its primary markets, and that could knowledgeably promote their pump benefits. The relationship-focused culture makes face-to-face selling the most critical element of the marketing mix. Cooperative exhibits at targeted exhibitions played an important role in the Dynex Chinese initiative.
Research also indicated the importance of providing application studies with photographs, to demonstrate product solutions and industry leadership. A pump application guide, translated into Simple Chinese and cost-effectively printed in China, supported distributor sales efforts.
With emerging digital technology, online sales channels are important. Dynex developed a Chinese-language website hosted in China, with a focus on product benefits and applications. SEO aimed for high rankings in Baidu, the leading Chinese search engine.
Customers and prospects in China, as well as in other global markets, are receptive to targeted email that is personalized and relevant. Email campaigns in their native language can facilitate effective face-to-face communication with potential customers.
Dynex invitations to seminars and exhibitions, and post-event follow-up communication, are especially effective, with open-rates averaging 40%, well above industry averages.
IMPROVING CUSTOMER COMMUNICATION
Avoiding careless translation is critical when modifying existing literature for use in global markets. Understanding language and cultural differences are critical to modify the marketing mix as required to be successful.
Distributors in each country, who understand the correct terms for technical hydraulic phrases, translated Dynex literature. The result was then checked by a professional translation service that also used local language experts. Art production was handled in the U.S. for proper layout and logo usage, to ensure proper branding. Most printing was done in the target country to reduce printing and shipping costs.