Business opportunity development
Market development
Through the distribution system, distributors assist with the local sales of the 8 series products and provide local customers with timely service and support. YOKE enlist the assistance of specific distributors in various regions by functioning as our Worldwide Distribution Center (WDC). By analyzing the historical sales data, we were able to predict the status of distribution in said regions. By taking inventory management and production lead time for planned production, we preemptively ship the forecast sales volume to our WDCs across different regions. For smaller markets or market demands with uncertainty, we also share our resources with our WDCs to help them expand their business. WDC is a product sales model established to solve the demand for low-quantity collection or quick collection of some dealers.
World-leading PPE brands are major clients for the N-series featuring OEM products, sales representatives must maintain constant communication and discussion with customers to better understand their product development needs and provide them with our latest products so as to create more business opportunities and improve the quality of customer service.
In addition to setting up the Shanghai subsidiary (Yoke Lifting Equipment Shanghai), to integrate sales in mainland China, in 2018, we have also established JVs with local distributors progressively in Germany, South Korea, Thailand, and Singapore to enhance local market cultivation. After setting up the Vietnamese subsidiary in 2020, we further increased the strength of market cultivation for the 8-Series product to develop the local market. By the end of 2022, own-branded “YOKE” products have been distributed to 42 countries across eight continents through 96 dealers.
Product sales regions
In 2022 North America was still the main sales region, accounting for 55.87% of the total sales, and there was no significant sales change in other regions.
Business opportunity management
To effectively cultivate new customers, we strengthen the management of potential customers and existing customers through the customer relationship management (CRM) system. Through the system’s precision analysis of potential customers and their product needs, and alongside customer education and training, conference calls, and onsite visits, we enhance the transaction rate. In the last three years, transactions have been successfully made with nearly 30% of filed potential customers to create a revenue of over NT$30 million, demonstrating the significant benefits of system implementation. The factors causing transaction failure can be further divided into quality, price, delivery time, strategic order rejection, and difficulty in obtaining end-customer responses. Then, we run macroeconomic market analysis for the reference of improving operations.
