Growth Case Study:
Unlocked sales and customer growth for a multi-channel, multi-site International Electrical Products Business - without increasing selling expenses.
Reverse a prior seven-year trend of negative to flat performance of topline growth for an international multi-site, multi-channel electrical products business.
We conducted a comprehensive review of the business. Firstly we had to address the gaps in the foundations required for growth; performing diagnostics around understanding each of the markets, customers and their segmentation, suppliers, product range, growth areas (now and in the future), and the status-quo around the existing leadership mindsets towards growth. Secondly, we had to enable them to generate growth; building a simple but engaging growth strategy; communicating until all employees could recite when prompted with confidence. Changed the client's sales incentive plans; investing more in the product range, and reallocated resources in the business to reflect the alignment required to execute the simple growth strategy.
The client recognised there were too many internal opinions surrounding "how to attain growth." Not helped by; multiple ERP systems acquired from numerous prior acquired companies with different in-country market dynamics. No robust management operating system locally or at a regional level. No value proposition documented, ready to share with customers; compounded by an overall fear of achieving growth at the expense of margins. A business unintendedly anchored by its long-standing internal approach to conducting business.
Enabled the client to deliver a 10x improvement in growth during the first 12 months of the engagement; with no increase in headcount, and no erosions in gross margins. Also, the client's employee engagement and customer net promoter scores improved significantly.
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