Customer Search in Nordics For a Leading Manufacturer of Magnetic Components

Challange

SME Magnetics, based in Poland and a subsidiary of SMA Solar, is a leading European manufacturer of magnetic components for high-frequency power converters. While primarily serving SMA Solar, the company aimed to diversify its client base by expanding into the Scandinavian market, attracted by the region’s emphasis on renewable energy. However, limited market knowledge and resource constraints posed challenges to rapid expansion.

SME Magnetics needed to:

Pinpoint high-potential clients in Scandinavia.
Diversify its client base without overextending resources.
Build brand recognition and trust in a new region.

Solution

Explore Markets assisted SME Magnetics by:

Defining market position: SME Magnetics’ strengths, such as quality, flexibility, and lean management, to appeal to Scandinavian clients.
Customer search and targeted client identification: Compiling a list of potential clients in Sweden and Finland and prioritizing the best opportunities.
Building connections: Facilitating introductions to over 20 manufacturing companies, and arranging meetings to establish relationships.

Project manager

Fredrik Udd

Result

With Explore Markets’ support, SME Magnetics achieved:

Connected with over 20 companies in Sweden and Finland, establishing a strong foothold in the market
Reduced reliance on a single client by gaining new business opportunities in Scandinavia.
Acquired valuable knowledge to refine strategy and better meet local needs.