How a Danish fish company entered German and Spanish markets in 30 days
One effective way to increase profits is to expand markets for finished products. If there is no one to sell goods to, there is no point to increase production volume. And this prevents profit growth.
If the domestic market is full, you have to look for alternative solutions to the problem, one of them is an international market. This approach requires maximum concentration and a clear strategy on the part of all managers of the company. In this case, we will tell you how a Danish fishing company managed to optimize business scaling and entered foreign markets in 30 days.
The source data
Company information: Fish Company A is engaged in fishing and in the distribution of fish and seafood. It collaborates with retail chains, markets, hotels, and restaurants. It also provides finished products to wholesale buyers and processors of fish products. Company A works in the domestic market of Denmark.
Problem 1: Due to the overcrowded internal market, Company A had started to have difficulties more often with competition from other organizations. The information base to enter the international market was poorly prepared. Additionally, the data on potential partners was collected from many different sources, so it took a long time to get the results.
Problem 2: Full-time managers monitored the situation. This made it difficult to solve the main issues within the company. The option of using third-party analysts to search for new ways to market products was not considered because it involved significant additional costs.
Objective: Optimize the search for potential customers from abroad.
Tasks: Scale the business.
What did we do?
- Automated the process of finding company contacts. With the help of Datapo, we made a large data extract of organizations that could potentially be interested in the products of Company A. In a period of one day, we were able to collect data on seven countries: England, Sweden, Germany, the Netherlands, Austria, Scotland, and France.
Verified potential partners. We studied the registration data of companies, assessed the financial situation, and took a look at debts. We also analyzed information on transactions, goods and services delivery, and company’s deals.
We looked at who the companies collaborated with, paid attention to the amounts of deals that were recently made.
We studied the data about the amount of the authorized capital, the value of shares, and data from the available financial statements.
We drew attention to the amount of profits and financial losses, as well as clarified how much money potential partners had in circulation.
Most importantly, we evaluated data on the potential risks. In order to do this, we studied information on companies’ court proceedings. We found out whether the organization was going through bankruptcy or liquidation proceedings or not. This was meant to secure the possible cooperation.
- Set up new company monitoring. We connected an automatic system that would send a notification when new companies that met the established requirements appeared in the database. This made it possible to quickly respond and send a commercial proposal to potential partners.
In 15 days, we analyzed data of 22,347 companies. These were organizations from France, Spain, Germany and the Netherlands, which could potentially be interested in the products of Company A.
It took 2 more days to formulate and send out commercial offers.
Over the following days, Company A began to receive its initial replies. Several retail chains from Spain and Germany were the most interested in the offer. In the negotiation process, a consensus was reached which resulted in Company A signing their first contract with a German fish processor within a few days. A week later, negotiations with two retail chains from Spain were successfully completed.
Without involving full-time analysts, Company A was able to quickly and efficiently study the situation on the international market in order to prepare a way to scale their business. With the help of its own managers and using the Datapo service, the company was able to find new major customers abroad in 20 days after the initiation of the search.