Posted on, 02/28/2020
D&B Hoovers Offers Increased Efficiency and Delivers Incomparable Data to Cole-ParmerCole-Parmer is a global distributor of lab equipment, fluid handling, instrumentation and analysis supplies for research laboratories in several fields, including academia, pharmaceuticals, food and beverage, and others. Headquartered in Vernon Hills, Illinois, Cole-Parmer was founded in 1955 and sells its products around the world through a channel of company-owned outlets and other international dealers.
Cole-Parmer continually seeks to grow its company through a better understanding of its market, including competition and sales opportunities, by developing models to measure demand and possible growth. Both acquisition and marketing initiatives at Cole-Parmer depend upon access to data from companies around the world. Finding all of this data can be a time-consuming process, especially in smaller laboratories that do not issue company reports publicly. Most organizations cannot handle that level of research from a time management standpoint. However, it is critical to Cole-Parmer’s success and continued growth that such accurate, easy-to-leverage corporate data is available in one place.
When Cole-Parmer came under new ownership, manager for international marketing and strategy and insights, Edward Beach recommended that the new owners continue the existing subscription to D&B Hoovers. The solution became such an integral aspect of the company’s daily initiatives that it proved its value in nearly every aspect of marketing and research. When Cole-Parmer acquired Environmental Express®, the combined company used D&B Hoovers to help take a new product to market. Determining market size is a crucial step in bringing any new product to market. Production, marketing and sales all rely on market forecasts, so Cole-Parmer needed the data quickly. With D&B Hoovers, Beach was able to identify companies in the market, along with employment figures, specializations, and headcounts. D&B Hoovers enabled the company to identify 9,190 organizations as target prospects for their new product.
The accuracy of Dun & Bradstreet’s data makes it easy for ColeParmer to assess the market and act quickly on leads. Additionally, the intuitive interface and tools within D&B Hoovers simplify searching for companies based on any number of characteristics — all of which makes it easier to identify the right information without wasting time.
RESULTS AND ROI:
The most significant benefit from D&B Hoovers is the ability to perform research quickly. The solution simplifies critical market research to just a few clicks and minimizes the guesswork in projecting market potential or identifying potential acquisition targets. Cole-Parmer’s research capability for corporate data and valuable market insights has been augmented greatly by D&B Hoovers, which acts as one comprehensive source for company research, instead of requiring extensive research into individual sources or cross-referencing. Cole-Parmer can also track its competitors more closely. The data housed in D&B Hoovers allows the company to monitor any growth or changes among its competitors so they can respond quickly and appropriately, to competition and market demands. Sales initiatives or market expansions into new regions, states or countries are all executed more easily with D&B Hoovers because Beach and his colleagues are confident that Dun & Bradstreet's data is updated and accurate.
D&B Hoovers offers a level of detail to corporate market research that simply isn’t available elsewhere. With D&B Hoovers, we can develop accurate sales forecasts and complete market outlooks that help our company save time and tailor our product sales and marketing effectively
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