- Top 5 European Credit Export Agency
Situation and Objectives
- The client was aiming to increase volumes in its product portfolio to achieve the challenging growth targets set. It had a strong market position in the large-corporate segment, however had a low penetration rate in the mid-corporate segment.
- In addition, the client served its customer base through three different departments covering distinct products line. A lack of cross-departmental interaction was resulting in loss of potential revenue streams.
- Finally, given the complex nature of the products’, an inefficient commercial offering was in place, resulting in a difficult communication to customers.
- Defined a two-part model: 1. Defined strategic guidelines to expand client’s customer base and increase the penetration rate into mid-corporate segments, 2. Developed a new coverage model to facilitate the cross-selling activities amid existent customers.
- The acquisition phase was achieved through a need-based targeting model, with potential customers targeted according to their latent financial needs. Simon-Kucher quantified targeted customers’ potential revenues in order to prioritize.
- A new coverage model was developed for the cross-selling enhancement phase. A Relationship Manager role was introduced as an access point for customers, with responsibilities including commercial planning definition and origination coordination.
- In support of the entire strategic plan, Simon-Kucher restyled the commercial offering’s communication, grouping homogeneous products in same offering areas which responded to the same latent financial needs.
Need-based coverage model
- In few months, thanks to Simon-Kucher’s guidelines the model was rolled out across the entire client’s commercial network.
- Approaches Simon-Kucher identified during the course of the projects expanded the client’s customer base and enhanced client’s ability to target customer actions.
- Increased Sales efficiency and effectiveness
- Optimized Salesforce organization and client coverage
- Diminished overlapping of client relationship management