Client Profile
MOD-PAC Corporation (NASDAQ:MPAC) is a high value-add manufacturer of on demand print services, providing products and services in two product categories: custom folding cartons and personalized print. MOD-PAC focuses on branded and private label consumer products in the food and food service, healthcare, medical and automotive industries.
Business Situation
Generating new accounts in the highly competitive custom folding carton industry is no small task. MOD-PAC was looking for a process that could repeatedly develop and inject new and sustainable account opportunities into active sales cycles.
They also had a need to research and understand which industry segments would produce the best opportunity and potential profitability for their product and service offerings within the custom folding carton division.
Creating greater market awareness designed to introduce prospects in these market segments to MOD-PAC and to educate them regarding the company’s value-added offering has long been an initiative for MOD-PAC.
Teaming with Athena
MOD-PAC partnered with Athena SWC, a leading provider of business-to-business (B2B) marketing demand solutions with proven experience in target market profiling, compelling offer development, and marketing value-add solutions. Athena’s processes compress traditional sales cycles and significantly increase sales team productivity.
Athena developed a comprehensive marketing campaign that introduced MOD-PAC’s on-time delivery guarantee offer to select targeted industry segments. The campaign featured their new risk-based offer through educationally-based webcasts as a platform to increase market awareness, build relationships with potential customers, and move qualified opportunities along at an accelerated rate to compress MODPAC’s average sales cycle.
Athena executed their synchronized Relationship Acquisition and Management Process (RAMP) to research and target the most qualified prospects and industry markets for MOD-PAC’s delivery guarantee, generate prospect attendance for these individual educational webcasts, qualify each lead opportunity based upon sales qualification criteria, and move each opportunity along in the request for quote (RFQ) process for MOD-PAC’s sales team.
In addition to scheduling webcasts and RFQ meetings with qualified leads, prospects that were not ready to engage in an educational presentation but expressed significant interest in future contact were entered into Athena’s nurture process. The nurture process provides permission-based touches to key decision-makers and centers of influence. It includes educationally-based materials designed to assist the potential buyers during their evaluation and decision-making process.
The Results
Within five to six months of the campaign’s inception, MOD-PAC solidified a $150,000 annual agreement, with a 10-year average customer lifecycle. The process methodology enabled an average twelve- to eighteen-month sales cycle to be compressed by over 40%. In addition, Athena’s campaign efforts and nurture process resulted in a significant increase of over 40 new prospect opportunities directly injected into MOD-PAC’s sales cycles with multi-million dollar sales pipeline value.