A food manufacturer leveraged data analytics capability to grow sales, improve customer retention and improve sales team productivity. They decided that marketing and sales would be more data driven, and over several years invest resources to build the data systems that provided greater visibility to customer behaviors.
New systems created new reports, which created sales team confusion. Without clear priorities, user adoption was inconsistent. Available data had not been incorporated into business reviews or goals. While new customers were continually added they just filled a leaky bucket as customer retention was a drag on overall volume growth. Other measures were tracked without direct tie to results.
The company focused on integrating key business measures into strategic planning, performance management and operational work processes. Market data-driven goals for product growth, customer acquisition and retention were built into strategic objectives, progress reviewed monthly. Operational reports were reduced to those supporting objectives. The same measures also became the foundation for sales compensation and trade partner incentive programs.
Insights & Outcomes
- Complete alignment of business objectives, measurements and reporting across key stakeholders
- 7 consecutive years of record volume growth by adding net new customers
- Reduced customer losses by 40% through behavior-based customer contact strategies
- Higher user adoption of new tools improved sales planning and productivity
Regular business reviews monitor results, but deep down do you understand why you’re generating those results? Unlock the power of your data and contact Data2profit today by calling 920-948-3355 or email Lynn at firstname.lastname@example.org.