Torque Industries Case Study

Established in 1985 and with over 25 years experience, Athol Park based Torque Industries has built a solid reputation in hydraulics, pneumatics, filtration and automation.

The company services the agricultural, mining, food & beverage, mobile screen, wind farming and roller door fabrication industries.

Torque’s annual turnover sits at over $10 million, employs a staff of 35 and has a client list including Boart Longyear, BHP and Nearstar.

Key issue

Developing new markets

Torque Industries was looking to develop new markets overseas after experiencing success in the local South Australian and national markets.

Before the economic decline caused by the Global Financial Crisis in 2010, 16% of business revenue was made up from offshore hydraulic sales. The company was looking to strengthen their business in a tough export market climate.

Torque also wanted to develop a strategic marketing plan and segment their client base to allow for more targeted communications and a strengthened sales funnel.

Key outcomes

Market segmentation and client focus

Managing Partner Tony Neef and senior staff completed Innovate SA’s Strategic Sales & Marketing for CEOs course which helped them to revisit and develop a strategic marketing plan for their business.

The program also allowed them to better understand how strong brand management can impact the business through increased sales and brand awareness, especially in uncertain economic times.

They were also able to segment their existing client base – categorising them into groupings to allow them to target the various tiers and service them accordingly.

Enterprise Connect also completed a company diagnostic which acted as a sounding board and identified areas of the business that could be improved. This included the identification of a gap in staff ‘up skilling’ and personal development which needed to be addressed.

An insight that Tony and his team have taken away from the course is that as a business owner, business growth often occurs through employing and surrounding yourself with staff that have the skill set and attitude to help take the business to the next level.

Feedback

“Innovate SA helped us realise we needed to work ON the business instead of IN the business.

“The Strategic Marketing course helped put me in touch with people in the industry and other companies in similar phases of their business.

“The business advisors have been very helpful as a source of knowledge and as a sounding board for advice.