Capital Equipment Manufacturing: Increased Sales Revenue and Improved Client Retention
Reflecting on my journey, I can't help but express profound gratitude to Jimmy Bhai. Their strategic insights and unwavering support have been instrumental in the growth of my business, guiding me through challenges and opening doors to new opportunities. Yet, beyond the realm of business, he has played an equally transformative role in my personal development journey. Their mentorship has inspired me to cultivate resilience, embrace change, and pursue continuous growth. I am deeply appreciative of Jimmy Bhai's multifaceted impact on my journey, both professionally and personally.
Background
A growing company established in 2014 with a 15 Cr per annum turnover had internal conflicts, which led to multi-facet challenges in various departments.
Challenge
The primary challenge, and the most complex, was the aggressive internal conflicts that undermined decision-making in finance, branding, marketing, sales, and operations. The lack of clarity in strategic solutions and an inadequate approach to business development and OEM strategies led to poor performance. This resulted in low sales conversions, financial difficulties, and ultimately allowed competitors to outpace the company’s revenue growth.
Approach
After a rigorous brainstorming session, we formulated a comprehensive roadmap, analyzing challenges at the departmental level and identifying root causes. We then developed a Go-To-Market strategy with a targeted business development plan and an OEM development strategy. We defined and aligned their goals with specific roadmap milestones to ensure clarity and direction.
Insight
Mr. Sonni crafted a strategic growth plan with clear milestones. We implemented branding, marketing, and sales initiatives that aligned with the organization's overall objectives. A PAN India team was established to support these marketing and sales efforts. By reaching mutually agreeable resolutions, we facilitated smoother operations within the organization. An in-depth competitive analysis of market positioning and rivals helped sharpen their approach. Our expert guidance in identifying the target market, potential clientele, and an effective sales action plan boosted productivity and performance.
Result
The results of these initiatives were evident within two quarters, with the business achieving significant improvements, including a 35% increase in sales revenue and retention of more than 65% of its existing clientele. The company’s enhanced brand recognition set it apart from competitors, allowing it to position its pricing in the premium range.
