Achieving aggressive sales goals and maintaining high customer satisfaction rates are critical to a company’s success. A communications company was searching for a new partner to help it meet these goals and maintain its momentum in the highly competitive cable TV and Internet services marketplace.
The communications company provides advanced video, high-speed Internet, and telephone services to approximately 5.5 million residential and business customers in 27 states. The company’s sales managers, however, were unsatisfied with the vendor managing both inbound sales calls and click-to-chat sales conversations for the firm. Performance numbers had been declining for months; sales targets had gone unmet for nearly two years, and close rates were insignificant.
The management team needed a new partner to help it boost sales. Specifically, the communications company wanted to increase profitability with web-initiated sales, focus on a triple play, bundled sales strategy, and expand the value of existing customers with cross-sell and up-sell programs. And, most importantly, they wanted a business partner who could increase sales without negatively impacting customer satisfaction and loyalty metrics. The company turned to our growth services division.
The communications company transitioned the voice and online chat sales programs from its previous vendor to our growth services’ revenue generation associates. We used our predictive recruiting methods to hire ideal candidates for the sales program. Extensive training was conducted to provide an excellent customer experience, while end-to-end sales solutions were used to improve customer engagement and extend the customer life cycle.
Within the first 90 days, the customer increased its Net Promoter Score™ (NPS®), and quickly became the sole provider. After meeting sales goals for nine consecutive months, sales managers set higher goals and the associates continued to meet those targets.
The number of orders per chat, for example, was previously an underperforming category, but our associates enabled the communications company to quickly meet and increase target sales goals. The chat sales conversion rate increased by more than 62 percent as did the amount of revenue generated per chat by more than 51 percent. In the first half of 2011, our associates secured more than 93,000 new customers and generated approximately $223,500 in recurring revenue.
Because customer satisfaction and loyalty are critical in the cable TV industry, a standardized exit survey measured the quality of the customer experience and gauged the team’s NPS®. Were were expected to deliver an NPS® of 25 percent or higher. Not only did prospects and customers rank their experience with a “top box” score more than 60 percent of the time, the team also immediately reached the NPS® target and increased NPS® by as much as 20 percent.
Executives were pleased with the results. In one year, the associates added 204,800 new customers, earned $15.6 million in additional monthly recurring revenue and $8.7 million in one-time sales.
The new program was a success through a combination of our people, processes, technology, and focus on NPS®. All associates were trained to understand the communications company’s products and bundled triple play sales strategy, as well as its positioning and competitive differentiators.
This strategy empowered each person to represent the brand in all customer interactions, effectively communicate offers, and improve the customer experience.
Our ability to boost revenue month over month while increasing NPS®, proved to the communications company that its new partner was the right choice to deliver a superior revenue generation solution.
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Net Promoter Score is a trademark of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
NPS is a registered trademark of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.