Increasing market share in a competitive environment
About the company
Project duration: 24 months
As a result of heavy price competition from other, smaller providers in the field, customer churn was too high. The organization’s leadership team consulted Essensys for strategies aimed at increasing customer loyalty and reducing churn.
The introduction of new added-value services to the existing customer base was put forward as the key solution. Essensys Executive Interim Manager Lucy A. initiated the resulting change process using the Agile methodology. The project was carried out step by step through a series of four-week delivery sprints. Thanks to this incremental approach, which relied on close monitoring, Essensys Interim Executive managed to overdeliver on the desired outcomes.
The company created a new set of services and products designed to provide additional added value to existing customers. These innovations included additional insurances for electric appliances, home assistance, heating installation support and boiler maintenance.
In addition, two external telemarketing partners were brought on board to manage both inbound and outbound sales calls. Subsequently, the Essensys Executive Interim Manager implemented a continuous improvement loop, allowing fine tuning and adjusting of products and services based on systematic customer feedback.
In a six-month time span, the Essensys Executive Interim Manager was able to deliver on the key challenges, leading to:
- 30% month-over-month growth in both new contracts and profit margins,
- significantly reduced customer churn.
Contributions of all client departments were coordinated and internal staff were challenged to strive for ever-improving quality of service and faster delivery times, leading to sustainable value.