Tech Company - A tech company with unique software solutions to help businesses run more efficiently was unable to differentiate itself from others in the market.
- Company spent significant time and money trying to attract new clients by offering their solutions on a speculative basis.
- Company had difficulty reaching the decision makers who would be most receptive to their message.
- We reoriented the company’s strategy so that they stopped talking about the solutions they offered and started focusing on the unique problems they could solve for the target organization.
- Developed ROI measurements that placed a monetary value on the impact of NOT solving the problem.
- Result: More compelling value proposition made it easier to reach key decision makers more quickly. This, in turn, led to more sales and fewer competitive bidding situations.
Net Result – Company reduced average sales cycle time from 9 months to 4 months. Increased monthly client acquisition rate by 50%.
Insurance Company - Entrepreneurial insurance company invented a way to save corporations a significant amount on employee health insurance costs and bring predictability to what is inherently an unpredictable expense.
- Company was experiencing moderate success, but pipeline times were too long and sales success was inconsistent.
- Company was handling these issues by offering a more compelling ROI on rollout, meaning that the company was sharing its profits with its clients.
- Management determined that the problem was caused by the prospects’ lack of understanding of the solution and the perceived risk to their companies by implementing a non-traditional solution.
- Changed marketing and sales strategy to focus on key areas where this solution impacted organization and simplified the message.
- This resulted in faster sales, easier roll out with no need to share profits.
Net Result – Company was able to sell the business for a premium.
Travel Agency - Leisure - Identified the attributes that made this travel agency different than others.
- Recognized that the problem travel agencies have is that they sell the exact same thing as other agencies. So we worked to determine what the customer was really buying from the agency, which was the assurance of a problem-free vacation. This became the focus of value creation and message.
- Developed a marketing plan that focused on the type of client their value proposition would appeal to.
Net Result - Agency business mix went from 30% high margin business to 70% high margin.
Travel Agency – Corporate - Helped the agency understand that if they sold airline tickets they were in a pure commodity business and would have to compete with American Express, Expedia and Travelocity. A game they could not win.
- Identified the key problems companies face when dealing with corporate travel.
- Developed a process that showed clients how the agency solved problems that alternative providers could not.
- Created a business development program that identified clients with these problems much earlier in the sales cycle.
- Results: Fewer calls required to complete sales. Their sales cycle was shortened and they felt less pressure to reduce fees.
Net Result - Company increased bottom line growth rate in excess of 50%.
Financial Advisor - Successful financial advisor had a business that produced moderate recurring revenue.
- Revenue was highly dependent on market conditions.
- New business growth had slowed as advisor had to spend more time maintaining relationships.
- Was being forced to discount fees more frequently.
- Revised advisor’s value proposition so that it focused in on the unique things the advisor did.
- Developed a message that spoke to the client’s problems rather than the advisor’s solutions.
- Advisor’s business revenue became 80% recurring and minimally dependent on market conditions. Assets under management doubled.
Net Result - Advisor worked 1/3 less time with no reduction in income.
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