Unlocking Innovation in the Steel Construction Industry: A Competitive Market Intelligence Newsletter Success

Discover how a leading steel company leveraged weekly Competitive Market Intelligence Newsletters to track innovations in construction materials.

The Need

The Head of Product and R&D at the company recognized the importance of staying current with the latest trends and innovations in the steel construction material industry. However, the existing approach, which relied on a pool of news databases and Google Alerts, had its limitations. The monthly reports generated were often extensive, making it challenging for various material and product teams to extract actionable insights. Moreover, the information provided was often outdated by the time it reached the teams. Attempts to transition to a competitive market intelligence newsletter (daily or weekly) were met with resistance due to the considerable time and resources required.

Introduction of The Company

With a proud history spanning nearly twenty-five years and a dedicated team of over 2000 professionals across the Middle East, our client, a prominent steel construction materials supplier in the United Arab Emirates (UAE), operates as a subsidiary of one of the region’s largest real estate investment groups. The company specializes in manufacturing heavy metal members, sheets, girders, and other essential components for sub-systems, decks, front structures, and strength-giving units. While the heart of its manufacturing operations beats in Abu Dhabi, it has also established a significant international footprint in Saudi Arabia, Kuwait, Bahrain, Oman, Kenya, Bangladesh, and Turkmenistan.

The Solution

Our solution was a weekly Competitive Market Intelligence, meticulously curated to track and report on the latest innovations in both products and processes in the global construction materials market. This comprehensive report mapped product innovations across different categories offered by the company, including Secured Steel, Sub-Systems, Decking, Girders, and more. 

Simultaneously, it categorized process-based innovations into five distinct themes: cost-efficiency, time-efficiency, energy-efficiency, high-quality, and environment-friendliness. The weekly report not only analyzed various innovation methodologies employed by competitors but also delved into the applications and usages of these innovations, covering new product launches, variations, and pricing impacts.

To ensure the accuracy and relevance of the information, our team sourced innovation updates from a wide array of secondary sources, including news outlets, press releases, social media, company websites, annual reports, and other publicly available channels.

Competitive Intelligence Newsletter

GreyRadius’s Contribution in Competitive Market Intelligence 

After a meticulous evaluation of several market research and consulting firms, our client chose GreyRadius Consulting as their trusted partner for weekly market intelligence reports on innovation updates. Our approach comprised three key steps:

Step 1: Understanding Product Categories

In the initial phase, we engaged with different product teams to comprehensively understand the customer’s offerings and their potential susceptibility to innovations. We explored how innovations in size, material, pricing, strength, applications, demand, and more could impact their product categories.

Step 2: Defining Relevant Innovations

Following a thorough analysis, we identified and defined pertinent product innovations related to steel manufacturing. These included Advanced Steel Alloys, High-Strength Steel, Weathering Steel, Sustainable Steel, Recycled Steel, Prefabricated and Pre-Engineered Steel. 

Additionally, we categorized innovation in related applications, such as Modular Construction, Steel-Concrete Composite Systems, Advanced Coatings, Corrosion-Resistant Coatings, Fire-Resistant Coatings, 3D Printing with Steel, Additive Manufacturing Techniques, Steel Innovations in Bridges, Cable-Stayed and Suspension Bridges, and more.

Step 3: Structuring the Report

GreyRadius meticulously outlined the structure of the weekly report. This included an executive summary, key strategic insights, and the categorization of news updates by different innovation types: Product and Process.

With each update, we provided implications and action steps to empower readers with practical insights.

The Impact of Competitive Market Intelligence

The implementation of GreyRadius’s weekly Market Intelligence Newsletter report yielded substantial benefits:

  • The product teams gained access to fresh innovations, enhancing their product development strategies.
  • The sales team was well-informed about new market products, enabling them to understand customer demand more effectively.
  • Overall, the company saved approximately 6,000 annual work hours, previously dedicated to report collection and creation.
  • The transition to weekly updates from monthly reports led to more consistent and up-to-date insights.
  • In summary, GreyRadius Consulting’s efforts resulted in periodic awareness among teams, offering actionable and easily digestible reports.

By the Numbers

6,000

Annual Work hours saved

The product and R&D team saved 6K annual work hours in doing internal market research and creating a weekly competitive market intelligence newsletter report

5x 

Faster Insights

Gained rapid market insights without the need for a lengthy pilot study.

Improved Engagement with Reports

About GreyRadius Consulting

GreyRadius Consulting is a leading management and strategy consulting firm that specializes in providing actionable insights for sales, marketing, and strategy teams across organizations. We leverage competitive market intelligence frameworks to drive corporate strategic planning.



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