This US-based company develops tools for translational research and molecular diagnostics. Their technology is a gene expression platform used for genomics research, translational medicine and in vitro diagnostics applications.
The technology had been on the US market for about 1 year and the company was planning to set up an office in Europe to develop the business. Uncertain of how fast business would develop, they did not know how many resources were needed in which countries.
Novoptim implemented its sales outsourcing program and allocated one full-time resource split between 3 consultants to cover the major European markets (Germany, the UK, France, Nordic, Benelux, Spain and Italy). Our business consultants conducted all sales-related activities in their territories to develop the sales pipeline and generate revenue. Data were entered weekly into Salesforce and the client database. Marketing activities were also implemented to support the sales effort and create market awareness. These activities included organizing a roadshow in 5 major European cities (Berlin, London, Paris, Madrid, Heidelberg) to launch the technology.
Within 15 months, Novoptim generated $1.4M revenue for the client and grew a healthy sales pipeline. Thanks to Novoptim, the client was able to efficiently approach the European market, generate revenue, and plan for strategic market entry to Europe. During the last quarter of the project (phase out), the company replaced the Novoptim FTE with a team of 4 people: 1 European sales director, 2 account managers and 1 application scientist.