As markets expand so does the competition. Those first to the post get an advantage but that advantage can easily be lost if you don´t keep developing with the market. They no longer had the competitive edge.
This company had operated at a comfortable and steady growth rate for a number of years, then faced a fast decline triggered by a rapid increase in competition.
Deep Dive into Finances
The project kicked off with an immediate deep dive into financial data, revealing a far more critical situation than initially perceived. My analysis quickly exposed that their pricing and operational costs not only severely undermined their market competitiveness, but also put them on an alarmingly swift trajectory towards financial unsustainability. This stark reality check was crucial for the commercial team, unequivocally demonstrating that radical changes were imperative, and needed to be applied fast, to avert disaster.
Prioritising Customer Groups
Following the financial evaluation, my focus immediately shifted to a granular analysis of the sales data. I meticulously delved into historical transactions and customer behaviours, pinpointing precisely where customers were being lost or, crucially, where they were at significant risk of churn. This in-depth review allowed us to identify both the most valuable clients and those facing the highest risk, enabling a highly targeted approach to stabilise the customer base.
I collaborated with the commercial team to shift our efforts to these critical segments to ensure maximum impact and retention.
Identifying Weak Points in the Pipeline
The intensified market competition had illuminated critical weaknesses within their existing sales pipeline. What once might have been minor friction points now presented significant barriers, demanding a fundamentally different approach to compete effectively.
Recognising this need to adapt, I collaborated closely with the commercial team, to analysing the sales process and pinpoint vulnerabilities. Together, we then devised strategies to enable them to navigate and succeed within this more aggressive commercial landscape.
A Renewed Path to Growth
With a clear understanding of the internal challenges, the next phase involved a comprehensive market analysis to unearth new growth avenues.
We worked together to meticulously explore the market potential, identifying specific companies and segments that aligned with the client’s strengths and offered significant untapped opportunities.
With extensive insights from the commercial team, I could then formulate and forecast for specific growth strategies for the coming year.
The goal was to pivot from decline to aggressive expansion through informed market engagement.
Simple
I developed and presented to the commercial team a strategy for 22.1% staggered growth for the coming year. The growth involved a simple and focussed approach to growing sales within a handful of influential resellers.
Working with the commercial team we problem solved the potential pit falls and opportunities. We then fleshed out a plan of action to move forward to renewed growth in the coming year.
Below is an illustration of the grow plan, the blue line showing their projection without the revised strategy. Each line represents a different part of the 4-part plan and it´s associated revenue forecast.
Ensuring Success
I continue to work with the client to ensure success of the strategy. We have worked together to create sales communications and problem solve barriers to success while they work towards achieving their revised sales goals.
Commercial Growth Specialist
