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Below are a series of case studies that are examples of what ActionCOACH has done for clients all around the world.
Case Study #1: Gymnastics and Competitive Cheer Facility
Business Challenge: A free trial class is offered to convert prospects to enrolled students. The gym does approximately 410 free trials annually and converts 57% to enrolled students (sale). Goal: Increase sales conversion rate on Free Trial Classes.
Actions:
- Began tracking sales conversion rates (by coach / class).
- Communicated / retrained coaches on the process for free trial students and reinforced how important these are to growth.
- Implemented office follow up process for those who did not enroll immediately following the trial class.
- Reviewed results monthly with team.
Results: In 8 months, the sales conversion rate increased from 57% to 69% (combined average for the year was 64%). Based on 410 free trials per year, this strategy generated 49 additional new customers. At an average $ sale of $108.58 and 4.61 transactions per year, this represents incremental sales of $25,055. The cost to the owner was negligible – it was simply a matter of retraining the team, follow-up by office staff and tracking and reporting results.
Case Study #2: Manufacturer - Plastics
Business Challenge: Sales were relatively flat and margins were declining.
Actions:
- Identified true costs related to products.
- Tracked and analyzed estimated (quote) versus actual costs of materials and labor. Made adjustments based on findings.
- Re-focused sales efforts on ideal target customers, higher margin products and repeat orders from existing customers.
- Developed and implemented a consistent sales management process, including quote development.
- Systematized purchasing process.
Results: Within 6 months, the sales conversion rate increased 10%, material costs were reduced by 17% and profit increased 26% without any additional spending on marketing and lead generation. Net profit margin (year-end) was 3 times the industry average.
Case Study #3: Manufacturer
Business Challenge: Company had an excellent reputation for quality and on-time delivery (won awards). Company was generating about 250 NEW leads per year but only converting 6% to actual sales – a waste of time and money.
Actions:
- Clearly defined ideal target customers and specific criteria based on customer needs and company strengths.
- Developed 7 compelling reasons to choose the company – and reinforced this within our marketing and sales.
- Modified advertising to reinforce benefits and re-allocated dollars to improve lead quality.
- Developed and implemented a multi-touch sales management system, including quote process.
Results: Within 3 months, sales conversion rate increased from 6% to 15.8% and our average $ sale per transaction increased from $710 to $1,161. Overall sales increased 14% during this period.
Case Study #4: Automotive and Truck Repair
Business Challenge: While revenue was growing steady at 5%, profit margins were lower than desired (and below industry). Our goal was to increase sales to existing customers and improve overall profitability.
Actions:
- Developed USP and guarantee based on company strength (modified advertising to reflect changes).
- Increased prices of certain services based on value and competition.
- Documented service delivery, including checklists to insure consistent buying experience for all customers.
- Added ‘special touches’ to WOW customers and add value.
- Reinforced full range of services (within existing reminder system).
Results: Within 5 months, average $ sales grew from $274 to $328 (16%). Gross profit margins increased from 21% to 37% and net profit increased 14%.
Case Study #5: General Contractor
Business Challenge: Company focuses on major remodeling / renovation projects for high-end consumers. Construction projects drop off between November and February due to weather and holidays (impacting cash flow). Goal – generate high quality leads for basement remodeling during winter months.
Actions:
- Define new service offering, pricing strategy and develop checklists for efficient and consistent delivery.
- Create flyer with compelling reasons, strong offer and call to action.
- Developed list of target communities for distribution (near former customer homes).
- Distributed 500 flyers into 4 communities.
Results: Generated 4 leads and 3 sales totaling $43,000 in revenue. Investment: $180 to produce the flyers.
Case Study #6: Distributor (Power Supplies)
Business Challenge: Company had a database of over 1,000 customers that were not maintained or promoted. While some purchased multiple times, many purchased only once (average # of transactions per year was 1.4). Our goal was to increase the # of transactions and average $ sale per transaction.
Actions:
- Cleaned up database (removed 300 ‘dead’ accounts).
- Established customer value criteria (revenue, profitability) and assigned codes (A,B,C,D) to all customers in database.
- Implemented monthly phone contact with all A grade customers.
- Developed quarterly ‘stay connected’ program that promoted full range of products.
- Systematized blanket order process for easy follow-up and re-ordering.
Results: In 6 months, the # of transactions increased 25% and the average $ sale increased 11%. Without increased marketing spending, revenues increased 22%.
Case Study #7: Security
Business Challenge: When the two partners came together to launch this business in 2004, they had a lot going for them. They had a combined 30 years experience in integrated security systems. The partners also had a lot of energy and a clear plan for cracking the market.
Everything came together as they had hoped, and Security 101 went from $0 to $1.8 million revenue in its first year. The price they paid for the quick growth?
- $300,000 in aged receivables
- 112-hour work weeks
- Not enough resources to support growth
Actions: Documentation and Reducing Aged Receivables
- Write quarterly plans
- Document procedures
- Create high-touch accounts receivable process
Results: Impressive Growth—that’s Sustainable
- Revenue grown from $1.8 to $4.9 million in less than two years
- Aged receivables reduced 75%
- Enough employees to support growth
Case Study #8: Health
Business Challenge: Seeking business improvement and started working with mostly with dental consultants. The owner was disappointed that he saw little measurable results after spending thousands of dollars to get advice for his practice. He wanted to work with someone with a strong business background looking at his practice and offering an honest critique of his business skills.
Actions:
- Working through the 6 Steps to Massive Results
- Focused on Vision and Culture on his practice concentrating on principles that would be the guiding light for him and his team
- Know and understandwhere he wants the business to go in order to structure an effective business plan and choose the right strategies.
Results:
- Dramatic growth in staff and in overall
- Increased staff from 20 to 28
- Revenue growth of over 103% since starting work with the Business Coach
- Increased the number of new patients in his practice year after year by more than 30%. Most recently, the practice took on an average 130 new patients per month.
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