Maximizing The Revenue Generated From Existing Key Clients
A Success Story in Cross-selling and Up-selling
When one of the world’s leading professional services firms sought to maximize the business they did with their key clients, by expanding their footprint within existing accounts, ELEVATE delivered. By digging more deeply into the complex organizational structures of the multinational corporations on the client’s portfolio, ELEVATE was able to uncover new key decision makers in different areas of the business and assist in opening up new revenue streams within key accounts.
- A highly-accurate database of over 750 fully qualified, highly targeted and accurately segmented key decision makers with full contact details.
- 50 graphically represented organization charts showing reporting hierarchies and chains of decision-making for each account.
- 14 cross-sell leads identified across the accounts, 2 of which led directly to new revenues generated – with the total values of deals won being many times greater than the investment made with ELEVATE.
- 2 Deals Closed within 3 months
- 38 Meetings Arranged within the 50 Targeted Accounts
Identify organizational structure of key target accounts and execute an account based marketing strategy to arrange meetings with all stakeholders and key decision makers.
We have a diverse range of product and service offerings that add value to almost every business function within an organization. Inevitably, the first contract we engage in with clients is usually focused in one business area. Since we are always seeking new revenue streams that enable us to grow our relationships and drive new opportunities within existing accounts, we realized that a cross-sell and up-sell campaign was going to be a faster, easier and the most cost-effective way of increasing revenue rather than trying to win new clients.
Our accounts were large multinational firms and had very complex internal structures. Through several different processes, we tried and failed to achieve our goal of identifying all of the right people to target and engage with – without compromising existing relationships.
ELEVATE’s first challenge was to identify flawlessly-accurate data on who occupied every relevant job role in all business areas across their client’s accounts.
The next challenge was for ELEVATE to reach these decision-makers on our behalf and cross-sell/up-sell them the client offerings.
ELEVATE took our list of 50 key existing accounts and 15 desired job functions in each. After a detailed brief in order to understand precisely what we wanted to achieve, the products and services we were proposing to offer and how to position the existing relationships within each account, ELEVATE mapped out an optimum plan using their experience in cross-sell and up-sell methodologies.
The solution comprised:
- Sourcing the names and contact details of previously unknown executives by discretely questioning contacts within each account to qualify who had budgetary and decision-making responsibility to each area
- Displaying the organizational structure and reporting lines in “Power Maps”
- Sending out carefully targeted and segmented e-mails to each contact according to their job role and function
- Conducting telephone outreach to all executives to mention successful programs or relationships already “live” and certain business areas within an account, with the goal of identifying cross-sell/up-sell opportunities to be pursued.
Results from this cross-sell and up-sell campaign were exceptional and we decided to expand the initiative to be an ongoing engagement with ELEVATE.
- 14 Immediate Cross Sell Leads Identified
- 2 Deals Closed within 3 Months
- 38 Meetings Arranged within the 50 Targeted Accounts with Multiple Decision-Makers
[vc_testimonial author=”VP Marketing” company=”Global Consulting Firm”] ELEVATE have always excelled in new business development campaigns but we were skeptical about using even a trusted external company to approach our existing accounts. However, the results were outstanding, the team were fast and responsive to work with, and importantly, our clients gave us very positive feedback about the professionalism and knowledge of those they dealt with from ELEVATE’s team. [/vc_testimonial]