Computational Particle Fluid Dynamics (CPFD) is an American company based out of New Mexico focusing on simulation technology in the chemical processing, petrochemical, oil and gas refining, and power industries. All CFPD software are physics-based simulation technologies that are able to virtualize the chemical reacting particulate flow dynamics of fluidized reactors across all industries, guaranteeing positive results in efficiencies, cost reduction, and emission compliance. Barracuda® was built from nothing to what it is today with an intensive background in multiphase-particle-in cell description of the particle phase with a strong adaptation in both fluid and particle phases, which constantly delivers an unequal level of accuracy unlike any other product available in the market.
CPFD is a CFD software company with unique process simulation capabilities, a few key customers, and a small sales organization. CPFD wanted to expand their market presence in oil and gas, chemical and power generation but struggled for over 2-years. They attempted different sales and business development strategies and tactics, but none of them produced new business growth.
CPFD could not break into any new accounts because of their lack of a repeatable sales model and solid marketing content. After many failed attempts to grow into the gas and oil refining and chemical markets, CPFD went back to licensing their products with their original customers in the petrochemical and power industries. Like many early software tech companies, CPFD had trouble ‘crossing the chasm’ for their new products into the mainstream market. They had no partnerships in the market to deliver and support a solution; their value proposition and way of presenting their new products were also extremely weak.
As a result, CPFD had no new business coming into their company in a year. Their slow growth and inability to take in stable partners and new accounts were beginning to take a toll on the company. CPFD needed to revamp its entire sales operation to be successful in these tight markets. They needed to change their sales efforts completely to be more effective and efficient and have a chance to break open these industries. With sales turnover and the sales pipeline hovering around zero, CPFD needed to change its strategy.
CPFD enlisted the help of VizQuest in order to lead a successful campaign to fulfill these objectives. VizQuest implemented their primary pipeline software in order to quickly, efficiently and effectively build CPFD’s sales pipeline through the creation of Validated Sales Opportunities (VSO). This allowed CPFD to capture new high-quality sales opportunities faster than ever before, improving sales productivity and efficiency in the process. These VSOs are confirmed prospective buyers, which would require the use of the CPFD’s products in order to better their companies. These people have a serious intent to buy the product, making it easier to market to them, thus shortening the sale cycle and creating a better return on investment. The pipeline software accelerates revenue growth by creating a consistent, scalable flow of the highest quality sales opportunities enabling CPFD’s sales team to be more productive to maximize yield. VizQuest executed their Revenue Factory Model to rapidly identify and engage target decision makers. They created multi-touch-point campaigns and leveraged their extensive referral network to develop opportunities and close sales for CPFD’s solution.
VizQuest ran CPFD’s sales operation for one year, helping CPFD break farther into both the gas and oil refining and chemical industries. By increasing their outreach activity, CPFD was able to develop a stream of high-quality sales opportunities that they were able to capitalize on. This allowed CPFD to build important partnerships with companies that were stronger and more lucrative than ever before in the gas and oil refining, and chemical industries. VizQuest aiding CPFD in the acceleration of the sales of new licenses to these new accounts allowed CPFD’s pipeline to drastically increase from the level it was once plateauing at. The marketing and sales teams were trained to be effective and efficient parts of the team, turning their company around altogether.
In one year, VizQuest was able to improve CPFD’s new sales and marketing content which now had the capabilities to capture a myriad of VSOs. This resulted in their sales pipeline going from essentially 0 to over $3.5 million, proving the bettering of their sales and marketing teams’ capabilities. This new and improved pipeline grew CPFD’s revenue by over 300%, thanks to new and profitable partnerships with massive companies like General Electric, Exxon Mobil, Chevron, and CITGO. The success CPFD had with VizQuest proves the significant changes made helped CPFD reach new heights in the software industry.