Socomec Uses Market Insights to Drive Global Growth and Expansion

Founded in 1922, Socomec is an independent industrial group with a workforce of 3900 people. Socomec's core business is focused on the availability, control, and safety of low-voltage electrical networks with specific attention to customers' power performance. Socomec dedicates 8% of its turnover to R&D as an undisputed specialist in UPS systems and power conversion, mains supply changeovers and protection devices, power quality & monitoring, or energy storage solutions with associated services.

Socomec has 30 subsidiaries located on all five continents, historically in Europe but with strong development in Asia and North America. In 2021, Socomec achieved a turnover of 604 million euros, with a 2-digit growth in 2022. Our customers are in different markets, such as data centers, healthcare facilities, industry, and renewable energies.

The Group benefits from competitive production sites in locations close to our high-growth markets in India, China, and North America, backed by our EMEA production sites in France, Italy, and Tunisia.

Xavier Mercier, Strategic Marketing Director - Group Strategy & Marketing, Socomec

Xavier started 12 years ago at Socomec to develop a key account approach across the group. His current role is Strategic marketing director. His team supports the top management in defining the company strategy. He is also in charge of partnerships, mergers, and acquisitions globally. His responsibility is to analyze Socomec's key markets and understand where the market is going, the main trends, and the technologies used. Based on that, he and his team form inputs for the global strategy.

Socomec using market insights in strategic decision making

Socomec is using Statzon, a market insight platform, with the strategic marketing team being the most active users. Their main objective is to seek information on new and existing markets and new applications. As their products are part of electrical systems, there are many potential use cases and markets for their products. Socomec uses market insights to build an understanding of the market. With a deep understanding of different markets, they decide where they focus.

The Socomec team relied on traditional market research suppliers for their analysis. They charged 5,000 to 25,000 euros or even more for their services, whether the study would be already available or to be done especially for Socomec. The number of market reports Socomec could afford every year was obviously limited. Before using Statzon, every decision to invest in market research was expensive and could only be done for serious opportunities or to update us on our existing markets.

One place for market research

Since implementing Statzon, the team at Socomec can now begin their market research directly on the platform. They start by looking at the global overview and comparing data from different providers. Statzon covers a wide range of topics and industries, making it easier to understand the market.

Xavier says, "We can now download several studies about unfamiliar markets. When we start to compare figures, we try to build our vision. Then, from different studies, we get the first estimation and understanding of the market."

"There is always data available"

Xavier also likes how you can search anything and always find some results, "The best thing about Statzon is the quantity of information. So whatever the topic is, you can always find something relevant to your needs."

Significant improvement in the market research process

Overall, the implementation of Statzon has significantly improved Socomec's market research process, providing them with more comprehensive information at a lower cost than traditional methods.