Axiom Equipment Group - b2b market research
Conquering The Equipment US Market Backed By B2B Research
Entering a new market can be a daunting and expensive task. Starting with comprehensive B2B market research to identify the opportunities and risks in the USA helped Axiom Equipment formulate the right go-to-market strategy.
Measure twice, cut one.
Axiom Equipment Group, a Canadian equipment supplier and manufacturer, had a vision: to expand into the lucrative yet challenging US market. With decades of success in Canada, Axiom knew that the stakes were high and that entering a new market—especially one as competitive as the US —required more than ambition: it required preparation They needed a data-driven strategy, deep market insights, and a clear understanding of opportunities and risks. With so much on the line, they sought a B2B market research partner who could provide the intelligence needed to make informed decisions and avoid pitfalls derailing even the biggest brands.
Challenge
Expanding into the U.S. market presented Axiom with several critical challenges. The off-grid equipment sector is vast and complex, with significant regional variations in demand, competition, and regulatory environments. Axiom needed to pinpoint the regions with the highest growth potential while also understanding each region’s unique challenges. Furthermore, traditional markets such as oil and gas are showing signs of slowing down, making it imperative to explore emerging sectors like renewables, where the company could leverage its expertise and resources.
Additionally, Axiom had to navigate the uncertainties of entering a new market without the benefit of on-the-ground experience. They needed to ensure that their resources were allocated strategically, avoiding the costly mistakes that have tripped up other companies during international expansions. The challenge was clear: find the right opportunities, mitigate risks, and craft a go-to-market strategy to position themselves for long-term success.
Solution
BlackBean developed a comprehensive market research strategy that left no stone unturned. The approach was threefold:
- In-Depth Market Research: We conducted extensive desk research to analyze the social, economic, and competitive landscapes of Axiom’s target industries in the US. This research was supported by surveys and interviews conducted by specialized research partners, providing a holistic view of the market dynamics. The goal was to find any opportunity and identify the most lucrative markets for expansion.
- Strategic Opportunity Identification: The research revealed that the Midwest (North Central sales region) and the Western United States offered the greatest potential for Axiom’s entry, particularly in the mining and renewable energy sectors. These regions were identified based on their strategic importance, ongoing investments, and alignment with the company’s strengths. While traditional sectors like oil and gas showed a decline, the renewable sector emerged as a promising avenue, bolstered by billions of dollars in public and private investments.
- Risk Mitigation and Go-To-Market Strategy: Understanding the risks inherent in the U.S. market was as crucial as identifying opportunities. We equipped Axiom with the knowledge they needed to navigate these risks, from regulatory challenges to regional competition. By providing a data-driven roadmap, Axiom can make informed decisions, allocate resources effectively, and avoid the pitfalls that have ensnared other companies attempting similar expansions.
Client Testimonial
“Thanks to their work and insights, our company is prepped to make an impactful entrance into the right new markets with the right products to address gaps for our end-users. This is going to allow us to make each marketing dollar work a lot smarter for this new endeavour for our company!” – J. Norris, Marketing Director
