0203 239 1345

Customer Engagement Transforms Sales

Situation

The company wanted to grow sales in a mature, low growth market. One of its customers was a small, specialist retailer but the relationship had always been purely transactional. Neither side saw an opportunity for profitable growth because only a narrow range of low margin products was being stocked.

Task

To achieve a sales turnaround involving a transformation of the business relationship.

Actions

  • A lot of listening by the supplier enabled a meaningful dialogue to start
  • Customer engagement was prioritised and the sales team was strengthened
  • A much more flexible and differentiated trading plan was developed
  • Compromises on both sides led to a more cost efficient delivery agreement
  • Quarterly meetings were put in place and performance was monitored carefully

Results

  • Turnover increased by 78% within the first year of the new agreement
  • Net margin grew despite the cost of the increased resource and investment
  • Operating efficiencies and reduced late payments generated on-going cost savings
  • As trust built, the range was extended and branded products featured in store leaflets
  • Sales doubled the following year