With a goal of achieving $100 million in active revenue by the end of 2021 in the industrial sector (pulp and paper, metals and mining), Bently Nevada turned to MarketsandMarkets’ services and market intelligence platform. The two parties began this market assault journey through a series of closely collaborative methods and initiatives. It began with brainstorming sessions with top global customers in each vertical, using a rating matrix to accurately identify the voice of the customer (VOC) and target customers, and included the development of marketing materials such as white papers and infographics to help corporate executives understand market trends and best practices.
Marketsand Markets used its AI-driven Knowledge Store market intelligence platform to present a holistic view of the macro market, and then used an account-based marketing (ABM) approach to focus on the top 40 companies in each target segment with Bently Nevada to build a comprehensive and in-depth rating matrix. During the research process, we strictly followed a combination of primary and secondary research methods, conducted in-depth interviews with key players in industries such as pulp and paper, mining, metals and steel, and customized detailed company profiles of top players in the target industries, and ranked them based on key criteria such as product capabilities, digital maturity, purchase readiness, operational/cost reduction goals, and awareness of well-known suppliers.
The project has achieved remarkable results. The research shows that temperature analysis and monitoring, vibration analysis and monitoring, and oil analysis and lubrication have become key technical means for the target industries. Pulp and paper industry customers are more concerned about the identification of failure mechanisms of key asset failures and condition monitoring systems, while metal and mining industry customers have higher requirements for the cost, complexity, data redundancy, and timeliness and accessibility of local service support for condition monitoring systems. At the same time, the metal industry is ahead of the pulp and paper and mining industries in the application of artificial intelligence and machine learning technologies, and North America is a global leader in the integration of advanced condition monitoring technologies. These research results have clarified the market positioning for Bently Nevada, enabling its team to deeply realize that performance and return on investment are the core criteria for customers to choose predictive maintenance systems, and customers in the target industries prefer cost-effective solutions.
Through this cooperation, Bently Nevada's sales channels have been significantly improved, the transaction scale has increased significantly, and it has successfully established cultivation activities and GTM strategies, further increasing its market share and influence in industries such as pulp and paper, metals and mining. This success story not only demonstrates Bently Nevada's entrepreneurial spirit of innovation and active expansion, but also highlights MarketsandMarkets' professional strength in market intelligence and strategic consulting, and provides a valuable reference example for industrial companies in market competition and strategic layout. In the future, Bently Nevada will continue to rely on the results of the cooperation, forge ahead in the industrial condition monitoring and protection market, and create a more brilliant chapter of performance.
