A Professional Services Company Based in Mumbai
A professional services company based in Mumbai was having trouble with escalating operating costs which were eating into their profit margins. Their revenue generated per customer & over revenue was showing a worry some downtrend due to fewer customers engaging their services. They engaged us to help them reinvent their brand & to increase the revenue generated. They had started numerous marketing campaigns which was unable to fill the revenue gaps while increasing marketing spends further reducing profit margins.
- An in-depth understanding of the clients business & service offering
- Analysis of the value chain
- Analysis of Customer Interactions (Existing & New) & their online reviews
- Analysis of Technology Platforms
- Perception of the brand by customers
- Analysis of the marketing campaigns
- Analysis of the Sales force for customer onboarding
- Analysis of the Services
We right at the onset understood that there were numerous aspects that were contributing to diminishing revenues and lower customer satisfaction and based on the assessment we began to work on the following aspects.
- Brand Perception (The Voice)
- Upgrading & Retraining the Customer Support & Sales Force
- Reworking the services portfolio to increase the ‘value add’ for customers at minimal costs
- Introduction & Training on cloud systems which was a departure from legacy systems being used for the last decade by the service provider.
- Automating parts of the operations process to enable work to be done outside business hours & to reduce the operating costs (Initial investment on technology was recovered in the first quarter)
- We found that the sales force was not aligned with the marketing and lacked in conversions, for this we created more interesting content which was designed to help increase conversions
- We worked on building a retention channel for customers who had not made a purchase in the last 3 months or more.
- The content which was shared with customers was recreated with the new value adds for the solutions provided by the company to its customers
- Marketing was completely revamped with new strategies & retraining for the team.
- Sales teams underwent an intensive one day a week training for 2 months (8 Sessions) to help them understand their brand better, to know how the brand is generating value for customers and how to manage technology to their benefit. This approach led to the team now using more channels efficiently. Corporate communications were re-written and presented attractively to customers. Follow-ups were pre-scheduled and contacts were easier to manage. Emails were part automated
- We helped them understand & re-build the sales funnel better in order to smoothen the flow of customers through the sales funnel.
- The marketing team saw an increase in the number of users it sent to the sales team and the cost of advertising was more concentrated on the top performing channels
- The quality of reviews improved due to faster & more accurate responses by the team
- The revamped services offerings hit the right note with customers and we saw a drop in customer drop-offs & higher conversions for the sales teams
- The technology integrations helped reduce the number of man-hours required & allowed operations to run even outside working hours.
- Their overall revenue saw an 12% increase in the first quarter & 16% subsequently
- The team was also revamped with more experts supported by technology which increased productivity and justified costs.