Reading Electric, employs 50, manufactures specialty electronic equipment and remanufactures electric motors to serve the industrial customers in the Reading area. The company is vertically integrated and prides itself in meeting or exceeding customer requirements.
Reading Electric operates in a regional market supporting the repair and refurbishing of electric motors, generators, and welders of various sizes and complexity.
Additionally, Reading Electric is a distributor and installer of generators and batteries for Critical Power Systems (CPS) and Uninterruptible Power Supplies (UPS). And, now it is a major installer of solar power equipment and panels.
Situation
Reading Electric wanted to improve their marketing approach in the market place and attack new market opportunities found within the Critical Power Service industry.
Solution
MRC was retained to initiate and manage the development of a detailed market opportunity research (MOR) assessment for the electrical services market and provide an overview of electric motor repair, CPS, and electrical service contracting. In addition, MRC was to assist the company in identifying ways to improve the company’s sales and markets.
Results
Reading Electric further penetrated the CPS / UPS market for generators and service contracts. They expanded to include “full –service” in the Electrical Service Contracting portion of their business on larger projects. The company began offering pump repair to again offer “full-service” to the customer. Reading Electric increased their outside sales force with an emphasis on Electrical Service Contracting in their areas of high business concentration.
In addition, they developed a Sales Lead Program for the construction industry targeted at the highest business levels for both the CPS and electrical service contracting markets. The company also optimized the key word search characteristics of the Reading Electric website. They began a serious thrust into production of parts for solar applications.
In addition, the company started marketing educational sessions on converting plant processes to solar even helping firms apply for available grant funds. The end result was a whole new business sector for the company. MRC helped locate companies that were good candidates for converting their plant processes to solar, helped pre-qualify the companies, coordinated a site visit, and conducted a financial feasibility analysis. As a result, Reading Electric obtains the wealth of the installation work as well.
The solar projects resulting from the MRC assistance were in excess of $1,000,000 each, with most of them around $1,300,000. In addition, Reading received leads and projects directly from the marketplace.