The Challenge
A leading bulk oil, fuel, and lubricants distributor needed help implementing a cohesive pricing strategy across its business branches. The company had grown quickly, mostly through acquisitions, and each new division operated differently when it came to pricing.
This meant that when customers contacted their sales representatives at the company about pricing, information was inconsistent – different sales reps offered different pricing. These inconsistencies led to poor experiences for customers and sales reps alike.
The Solution
TTEC worked with multiple branches of the company. This big-picture perspective enabled us to quickly recognize that pricing inconsistences were the main drivers of customer dissatisfaction. We helped the client develop and implement a standardized pricing process that was adopted by all business branches.
The Results
Customers received consistent pricing information and a clear understanding of how those prices were derived, resulting in a better experience. Our solution also eliminated the need some customers previously felt to shop around, now that all sales reps offered the same pricing.
This resulted in better sales for the client: a 62% increase in wins, quarter over quarter; and a 104% increase in gross profit generated, quarter over quarter.
Employee experience also improved because sales representatives had clear guidance to follow regarding pricing, which eliminated disparities and the resulting customer dissatisfaction.
TTEC continues to grow its relationship with this client, managing larger spending accounts and serving more stakeholders within the company.
