Achieving 173% of new “logo” sales target and securing a multi-million USD contract.
Objective: Acquiring a new strategic customer and meeting revenue goals for new customer acquisition.
Problem Context: Despite our success within a lucrative market segment, one major global company was not willing to sign up for our services. While the main reason for the company’s rejection was known, previous attempts to implement a solution had failed.
Strategic Approach: After analyzing why previous solution attempts failed, we changed our approach to engaging with key stakeholders from the prospect with the intent to gain a more in-depth understanding of what the prospect’s expectations and requirements are, while simultaneously developing the business component of the relationship.
Solution: Over the next 12 months, our key personnel actively engaged with their counterparts at the prospective customer’s company, fostering trust-based relationships. This partnership facilitated the adoption of industry best practices and led to substantial improvements in our systems and services. Enhancements were specifically made in areas such as scalability, response times, and the management of customer service.
Results: This partnership approach resulted in the customer committing to a multi-year contract, marking the beginning of a mutually beneficial business relationship. The enhancements made to meet this customer’s needs also had a ripple effect, boosting the satisfaction levels of the existing customer base and propelling new customer acquisitions across all regions.
Retaining 19% of total revenue at risk from key customers.
Objective: To rejuvenate and strengthen the relationships with two pivotal long-term customers who were dissatisfied with the perceived value deterioration of our services.
Problem Context: Two key customers expressed dissatisfaction with the perceived decline in value, compelling them to explore alternatives. $25 million of revenue were at risk.
Strategic Approach: A deep dive to understand what could improve our value proposition revealed that one customer was unsatisfied with customer service and lack of communication about product development. The second customer had lost trust as requested projects were agreed upon, but not delivered on time.
Solution: Creation of to improve communication, transparency, and product roadmap prioritization, which improved the value proposition not only for customer one, but also for all customers. For customer two, we improved our understanding for the customer’s business, suggested best practices, had closer alignment with customer’s project request, and agreed to on-time delivery of fewer projects, and started to deliver the agreed upon key projects on time.
Results: Our tailored strategies culminated in the restoration of both clients’ confidence, securing their ongoing business and fostering new collaborative ventures. These initiatives resulted in a revenue increase of 26% over a two-year span, demonstrating the effectiveness of targeted customer engagement and service delivery improvements.
Sales, Product, Strategy Professional 