Export business development plans

With sales in approximately 100 countries worldwide, the Royal Mint Circulating Coin Division wanted to focus sales, invest in additional sales staff and build its position in the international minted coin market.

IMM first analysed key Royal Mint customers, their buying process and their decision-making criteria in order to identify potential segmentation variables as a basis for differentiating its sales and marketing approach, product offer and pricing to different customer types.

IMM analysed sales history, geographical spread and products or services bought by Royal Mint customers, and gathered market intelligence to size the minted coin market at a global, regional and country level. Players, competitors and supply chains were identified to understand the potential of the available market and routes to market.

IMM ran segmentation workshops to assess each country and customer against the segmentation criteria and customers were then sized and grouped into segments. Several segment platforms were identified, e.g. relationship management, pricing, technology, etc.

Export business development plans were then developed to target attractive customer segments and a programme of marketing support was identified to support sales activity.