Despite posting healthy profits and attaining several years of consecutive growth, Puritan Products was in need of diversification and additional growth. In 2009, the company invested a great deal of time as well as tens of thousands of dollars to become compliant with good manufacturing practices (GMP). Doing so made the business operate in accord with the Food and Drug Administration’s Code of Federal Regulations title 21 governing finished pharmaceuticals. Essentially, this allowed them to understand the rules and regulations that govern pharmaceutical and biotech companies and cater to the needs of those types of organizations.
However, becoming cGMP-compliant does not automatically help a company gain business with the appropriate clientele. Despite their best efforts, the limited Puritan sales team was unable to effectively penetrate those industries. Companies in such markets are often “multi-tiered morasses of individuals,” as Director of Sales and Business Development Matt Walczer put it. Consequently, Puritan was unable to deploy the necessary resources to target decision makers who might be interested in their high-purity chemical blends. Job titles and divisions can vary from one organization to another, making it tedious to identify key decision makers at a single pharmaceutical company.
Puritan Products had engaged with other consultancy groups for lead prospecting to little avail. However, last year, Matt Walczer attended a Manufacturer’s Resource Center event at Lehigh University. A DVIRC presentation eventually convinced him to take a chance on the organization and enlist their services to generate qualified leads.