Finding New Growth Opportunities with Catalytic Products International
Entering a New Market Required More Than Just Messaging
Catalytic Products International has manufactured innovative and efficient air pollution control filtration systems since its founding in 1969. CPI’s customers work in industries that produce hazardous airborne byproducts like volatile organic compounds, mono-nitrogen oxides, greenhouse gases, and general air quality issues. CPI supplies custom air filtration systems that meet the emission control needs of their customers.
CPI had identified an opportunity in the rapidly growing Natural Gas industry. Given the complexity and fragmentation of this segment of the energy market, Compass(x) Strategy was hired to determine the best path to success.
Determining the Best New Opportunities in a Complex Industry
Catalytic Products International had experience in selling filtration systems in numerous industries, but the complexity of the Natural Gas industry was unlike anything they had ever encountered. How could they translate their expertise into a new business category?
Breaking Down a Complex Industry to Focus Efforts
Catalytic Products International knew that the Natural Gas industry had growth potential for them, but the opportunities were simply too numerous and fragmented to approach without an overall understanding of the market and a specific plan of attack.
Through industry analyses and stakeholder interviews, Compass(x) Strategy was able to identify the best opportunities and unmet needs along value chain. We then determined the individuals that made the purchasing decisions, the reasons for making these decisions, and the industry associations that wielded the most influence on them. These insights provided a roadmap as to how to best capitalize on the industry opportunities.
Compass(x) Strategy determined that the processing plants presented the greatest opportunity. From there, messaging could be created that was compelling for the two most important audiences: Environment, Health and Safety Managers and Plant Managers. The EH&S managers were the first key audience as this group determined what technologies made it onto “acceptable” list. Once on the approved list, Plant Managers could then make the decisions that they felt best met the cost and operational needs of their facility.
Compass(x) Strategy shared these insights as the basis for a group work session with CPI’s sales and marketing leadership. This session proved to be an alignment plan that would establish Catalytic Products International as a viable offering in the natural gas industry.
Armed with a strategic plan for entering the Natural Gas Industry, CPI was able to determine the steps necessary to enter the market.
The Compass(x) Strategy Difference
We ask the right questions to get the insights that will lead to clear and compelling strategies.
The credit for the photo used here goes to Flickr user photophilde