GREATER ACCESS TO MARKET OPPORTUNITIES was considered to be a challenge for steel businesses serving diverse industries in Australia. From our completed Steel Efficiency Review® consultations we have found widespread need for greater access to the market in addition to a combination of the other value proposition solutions.
The need for increased exposure into new and existing markets by looking at things differently in their business and operations was paramount. The challenge of launching a new product or service into these markets was common. And the requirement to partner with a known and trusted supplier with brand leverage was critical.
The Steel Efficiency Review® process recommends operations and productions teams to make what the customer wants when they want it, as specified. MARKET OPPORTUNITIES when not managed effectively can cost steel businesses’ money, time and the ability to win new work. These costs can amount to a considerable sum over time. Utilising the Steel Efficiency Review® to better understand businesses serving diverse industries, our SER® consultants have recommended the following 3 key value proposition solutions to help gain GREATER ACCESS MARKET OPPORTUNITIES:
1. ACCESS TO HIGH QUALITY BRANDED STEEL PRODUCTS. Leveraging recognised, reputable and high quality steel products will allow steel business to leverage market awareness to grow market share and increase revenue. Working with a supplier to further promote your products and services into new and existing markets will not only provide access to the right stock but also increase market penetration.
2. QUALITY ASSURANCE AND CERTIFICATION TO ENSURE PRODUCT IS FIT FOR PURPOSE. Quality assured and fit for purpose products allow steel businesses to deliver on demanding customer and project specifications. Test certificates provide the peace of mind and the traceability required to ensure product is compliant to Australian Standards. This allows for greater access to market opportunities by creating greater awareness in the form of case studies and testimonial project work. This reduces business and operational risk.
3. OPTIMAL STOCK SIZES AND ATTRIBUTES. By investing in optimal material sizes and attributes where possible; steel businesses will gain greater access to market opportunities. By dealing with a reputable supplier will help make the right decisions for both your business and customer. This will provide access to new products and markets – allowing awareness and the breakthrough of new approaches and solutions.
In implementing these value proposition solutions, our customers not only gain GREATER ACCESS TO MARKET OPPORTUNITIES but they start to put their own customers first and even highlight the causes of many other problems within processes that are hidden by this waste. A competitive advantage starts to get built and can be very strong when customers start to experience a different and better offer, superior to others in the market. This then allows the right products to be produced based on customer demand. Add in a bit of customisation and expertise to develop specialised products – premiums can then be charged and more product made.
We have found, our customers pursue the SER® as a vehicle to look at their business in a different way to make some small changes to reap big rewards. The Steel Efficiency Review® aims to provide recommendations to change and improve our customer’s business and at the same time our product and service offer.
Download our State of Market Reports for our insights and learnings after completing 1,011 Steel Efficiency Review® consultations on businesses of all shapes and sizes across Australia. To register for your own FREE Steel Efficiency Review® click here.