Microseeps Enters New Markets To Spur Revenue Growth With Help From BGC
Filed under: Business Growth, Marcellus, Profitable Growth, Uncategorized
Since Microseeps (microseeps.com) started in business in the mid 80’s, the company has specialized in providing niche, analytical services to the environmental and energy industries. These analyses have required technology and understanding not provided by the standard regulatory-compliance environmental lab.
Over the last 20 years, however, these analyses have become requisite procedures for determining biodegradation, effectiveness of remediation efforts and source-material determination. In fact, many of analytical technologies Microseeps uses have been integrated into federal and state environmental regulations.
Microseeps faced the challenge of bringing top-of-mind awareness about the advantages of its analyses to a broad regulatory, industrial and geographical customer base.
The Birol Growth Consulting (BGC) Solution
Andy Birol of Birol Growth Consulting (andybirol.com) helped Microseeps conduct field, market and internal company research and analysis. Following this, Tom Hill, Owner, launched a direct-marketing effort with online and off-line tactics to engage with state-approved laboratories across the quad-state, Marcellus shale footprint.
“This was a big step for our company to aggressively market to a specific, target prospect,” said Hill. “We’re excited to introduce this effort. Andy guided us to discover how we could follow our Best and Highest Use to enter this market, and take the right steps to grow our Marcellus business.”
As a first step, Andy helped Microseeps evaluate the current and future potential of its current and primary customer base–the environmental and energy markets. Customers in this market sector comprise other, environmental-testing labs and environmental and energy-consulting firms.
The study revealed a two-fold, market potential for Microseeps to tap, consisting of:
- Environmental-testing laboratories, with a market potential of $67.4 million, and
- Environmental and energy consultants, with a market potential of $324.8 million.
The second step involved developing a market strategy to expand use of the company’s analyses within its current client base and to broaden its industrial and geographical base.
Microseeps started by focusing on marketing to existing clients. This entailed reviewing how clients used the company’s analyses and dividing them into single-analysis users, single- project users, key labs and federal projects. The company segmented them further into users of compound specific isotope analysis (CSIA) and non-users.
Email, letter and phone dialogs, targeting 25 to 50 clients at a time, now outline the company’s services and its value. Microseeps tracks these efforts to evaluate their effectiveness and to monetize its successes.
The company also maintains an outbound, email marketing campaign to provide education and technical information to support the use of Microseeps services. This effort supports creating top-of-mind awareness of its services.
To round out these efforts, Microseeps has developed a shale-gas campaign replete with brochures, letters and emails targeted to prospects—laboratories and consultants– that service shale-gas development.
All of these campaigns will provide an opportunity to introduce chlorine, vapor and shale-gas isotope products as they come online.
Major Role for Inbound Marketing
Microseeps maintains three active websites. Microseeps.com functions as the primary site for the company and its services. Insituation.net is its technical and educational blog. And Marcellus-testing.com generates information on the shale-gas marketing website.
With the expansion of social media and growth in education and outreach to clients and prospects, Microseeps plans major updates to its websites in 2013. Website redesigns will focus on gathering information from the education and understanding activities of Microseeps services. Current outbound marketing campaigns will support these redesigns.
Results to Date
Thus far, Microseeps has taken advantage of low-hanging fruit, owing its Sales and Customer Service/Customer Care departments. In November 2012, the first, full month of its new marketing effort, the company generated over $40,000 in new business from existing clients. To date, sales from the shale-gas sector–Marcellus, Utica, Baken, Barnett and other shale plays– have resulted in sales of $100,000 annually.
These early results demonstrate that a focused effort had a hefty sales impact and gave management the confidence to start creating more proactive initiatives.
“With a great year behind us and our new Marcellus and other initiatives under way, I have high confidence that the coming years will continue to be some of Marcellus’s best,” said Hill. Andy Birol has been of great help not just in terms of developing our Marcellus initiative but also in helping us to refocus Microseeps on creating profitable growth for years to come. I look forward to a positive ROI on his and our efforts for years to come.”