Ongoing Monitoring of the Market
Email this postCompanies invest considerable time and money in trying to grow revenue and optimize their margins.
Client Case Example
Leading Payroll, Benefits, and Human Resources Outsourcer
Unable to identify root causes for one unit’s high turnover in sales personnel, management of a global HR and payroll outsourcer turned to us for assistance. We created and subsequently maintained a robust, multi-faceted exit program for all departing sales representatives. We identified improvements including on-boarding processes, career paths, compensation structures and sales management that have reduced churn and led to increased revenues.
But many of their policies and actions are guided by outdated information about the market or anecdotal information (e.g., “two months ago the company lost one big deal and now our decisions are shaped by that event”).
We believe that ongoing monitoring of the market is required to ensure that important decisions are based on accurate, current and representative information. We assist our clients in monitoring their markets from four perspectives:
- Customer Feedback – we interview and/or survey current customers, former customers, lost prospects and targeted prospects to understand why business is won and lost, how effectively the company responds to customer needs, and how the company and its competitors are perceived in the marketplace – today and over time
- Competitor Intelligence – we help our clients capture actionable information about competitors including company-level changes, new offerings, sales messaging, pricing, and other relevant information
- Market Intelligence – we help track changes occuring in the market including overall spending levels, market expansion/consolidation, primary buyer values, buying processes/decision makers and other factors
- Sales Force Feedback – we survey sales personnel for our clients to understand their perspectives on the company, the sales opportunities they see in the market and their overall satisfaction with their situation
Ongoing Monitoring Approach
We use a number of tools including The Nine Voices of the MarketTM, win/loss analysis, online surveys and self-assessment tools, and detailed interviews to capture the needed data in a consistent and timely fashion. We also create standalone reports, scorecards and dashboards and integrate the needed data and metrics into existing reports.
Please contact us to learn more about our Ongoing Market Monitoring services.
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