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DVIRC Helps Germantown Tool Generate $6M in New Revenue Through Market Expansion
With the help of: Pennsylvania Manufacturing Extension Partnership
About
The Challenge
GTM’s leaders identified a need to diversify their client base after a careful analysis of their current revenue sources. At the time, nearly 50% of their contract manufacturing came from a single company, a manufacturer of landscape equipment found in many big box retail centers. Growth was not increasing as quickly as leadership envisioned, and the company’s leaders realized that they needed to seek out new market opportunities that still aligned with the company’s capabilities and competencies.
DVIRC has been instrumental in helping us launch our Artisan Metal division. We are especially pleased with all the support for building our website. We look forward to continued collaboration.
MEP's Role
GTM turned to DVIRC, part of the Pennsylvania MEP and the MEP National Network™, for help diversifying the company’s revenue sources and seeking new markets in which to grow the business. DVIRC’s research revealed that GTM should develop a new subsidiary to market to consumers of fine, luxury, and decorative designs. Through DVIRC’s assistance, GTM developed Artisan Metal (AM).
Artisan Metal was positioned and branded for clients who wanted custom fabrications, artistic metal designs, laser cut and decorative panels. This new target market had little overlap with GTM’s existing manufacturing, welding and tooling customer base. The new company proved to be a tremendous success, and has grown to become 25% of the GTM’s overall revenue. Along with helping identify this niche market, DVIRC worked with GTM to develop an e-commerce web presence and organize a digital marketing campaign to capitalize on GTM’s own progress.