Our client had experienced significant revenue growth over the prior two year period but was unable to pinpoint exactly why or how.
Then, revenues began to fall. They sought to understand the drivers of revenue growth and decline and importantly, set the trend back to growth.
We analyzed sales operations and supporting efforts to win new projects for both existing clients as well as new prospects.
There was little structure and no standard processes in place for proposal follow up. There were also no performance metrics in place to track nor analyze results.
Management lacked meaningful feedback to understand which service offers were most in demand or why select projects were never awarded.
We helped standardize an effective proposal process alongside a simple reporting solution, to help the team, and leadership, understand performance, progress and trends.
Utilize smart technology
We implemented a simple CRM (customer relationship management) software solution designed for small teams. The system became the central repository for all proposals.
The power of information
We organized proposal information by offer, client, category and status. The CRM reporting features helped the team accurately manage the sales funnel, outstanding proposals and importantly, facilitate follow up and feedback.
Metrics that matter
Together we structured simple metrics based upon the company’s revenue growth goals. Things like optimal levels for sales pipeline, a target for wins rate and created estimated probability guidelines for days proposals outstanding.
The desired results were achieved by adding simple processes and technology, analyzing the results and leveraging metrics to help guide the team’s efforts.
In short order, the CRM and its real time reporting helped provide a clear correlation between sales efforts and results. The sales team was able to focus on maintaining target pipeline levels which corresponded to revenue targets. There was more efficiency across the team’s collective efforts as their data helped them opt out of low probability proposals. With a standardized process for follow up, their win rate increased resulting in revenue stabilization and ultimately, growth.
With the ability to more accurately forecast revenue, management could also plan for optimal resources required for delivery which in turn, further improved profitability.
More efficient sales efforts, revenue growth and improved profit. Wins all around.
