Truck Rental Company Wins Market Share
Mid-sized refrigerated truck rental
company faced strong competition from larger firms offering wider
product range and greater service coverage. Customers perceived the
company as a rental resource of last resort, leaving them with the most
difficult, least profitable business opportunities. Relationships were
transactional and short term.
Our Solution
Develop a new value proposition based on demonstrating the value of
flexible, highly responsive service solutions. Business opportunities
were prioritized by the severity of the customer’s business challenge
and the company’s ability to provide differentiated solutions and build
a relationship to advance the sale. Weak opportunities were quickly
flushed out of the sales pipeline, giving sales executive more time to
focus on high margin long-term opportunities.
Results
Client sales outpaced market by 7%. Annual churn of rental turnovers
dropped from 43% to 27%. New client partnerships resulted in flexible,
balanced plans delivering mix of rental, lease and purchase options.
Sales outpaced larger competitors within the first year and exceeded
corporate performance goals.
Private Equity Firm Retools Tech Company
An investor group acquired a small systems
technology-company with an industry-changing product stuck in the R&D
pipeline. The goal was to quickly ready the product for market to gain
early-to-market advantage and quickly sell the company to a larger company
with stronger marketing capabilities.
Our Solution
Freeze ongoing product development to bring
the product to market quickly. Repackage the large, inflexible systems
into smaller evaluation size systems to reduce initial price and make
installations less disruptive to client operations.
Results
Fifty percent reduction in sales cycle time
and easy integration into existing client operations. Several evaluation
systems were successfully installed and the company was acquired by one
of several suitors.
Container Shipping and Logistics Company Grows
Global Accounts
Global company faced severe customer acquisition challenges compounded by
container shipping industry downturn. Low cost competitors and logistics
niche players began eroding market share with their most profitable clients.
Products and services were becoming commoditized.
Our Solution
Deploy On-Demand sales coaching and training focused on value based
demand creation to global key account team Implement strategy to replace
annual procurement department rate negotiations with multi-year bundled
offerings that competitors could not match. Refocus sales teams on
retaining and enhancing client relationships with most profitable
clients. Company wide sales processes were simplified and deployed
within the customer relationship management system.
Results
During 2006 container shipping business downturn, revenues from key
accounts increased to 107% of goal. Penetration of key accounts
increased and investment in marginal accounts was substantially reduced.
The annual rate competitive bidding contest was replaced with a new
value proposition combining multi-year shipping and logistics contracts
with measurable financial impact that effectively blocked competitive
entry.
Public Sector Organization Sells Assets
A public sector organization with no prior private sector marketing
experience acquired a large portfolio of marketable assets they wanted to
return to the private sector.
Our solution
We helped build sales teams and modify asset inventory systems to
support sales functions. We employed auction techniques to establish
market value and create a marketplace that would not disrupt the private
sector.
Results
The result was sales in excess of $450 million in first two years and
resolution of the entire portfolio in seven years. The techniques were
replicated in throughout the country with similar success.
IT Infrastructure Company Fights Low Cost
Competition
As margins eroded and sales declined the company reacted by aggressively
responding to all bid requests with decreasing rates of success. Their
services were clearly superior but their value was being discounted because
it was not included in the bid specifications.
Our Solution
Establish, coach and support sales pursuit team focused on high-value
deals that fit go-to-market strategy. Increase sales pipeline efficiency
by purging deals that do not fit sales criteria. Establish revenue
review board to monitor deal progress and oversee best practices
developed. Invest in targeted marketing campaign to pre-condition select
accounts. Engage clients in pre-bid dialogues to establish bid
specifications aligned with capabilities and position value within the
context of customer business challenges.
Results
Within 90 days a $4M contact was signed and within 6 months the decline
in sales had been reversed.
B2B Service Provider Recovers from Strategy
Misstep
A successful regional business-to-business service provider invested heavily
in emerging technology. They created a new operating unit with a separate
brand and sales force selling into an untested market. The result was
faltering start-up of the new unit and severe cash drain on the parent
company.
Our Solution
Combine the two brand images to build credibility for the tech unit
while adding new life to the existing brand. We recommend integrating
product lines and sales teams to quickly provide full range services to
existing and new customers alike.
Results
A shared-incentive program promoted cooperation between the new and
existing sales teams, reduced cost of sale and resulted in double digit
quarterly sales increases for the new operating unit.
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