Share of Wallet Case Study

SIGNIFICANT GROWTH FROM CUSTOMER BASE DRIVES 40% INCREASE IN SHARE OF WALLET

Client Business Issues
  • An embedded transactional focus was having a negative impact on margin and revenue results
  • Underachieving on EBITDA Corporate objectives
  • Lacking traction and underachieving on market share objectives
Perceived Opportunity
  • To change the focus from high volume/low margin transactional business to a more profitable value added focus
  • To optimise sales activity by engaging with high potential customers
  • Position the business in a different way to the competition
  • Deliver a value based offering
Insight Uncovered by Beyond 19 Partners
  • Clarity of where the potential existed in the customer base
  • Identified that current Share of Wallet (SOW) was over estimated by 30%+
  • The customer base had much higher latent potential than was assumed
  • Sales teams were incorrectly assuming price was the No. 1 and only value driver
  • Quantified that over 50% of the high potential customers had a current SOW of <10%
  • Identified that an additional 10% SOW among high potential customers translated to $30M in revenue
Outcomes
  • Face to face contact and higher quality engagement with the target high potential customers increased by 75% within 6 months
  • The achievement of an increase in SOW provided incremental sales of $5M in the first six months
  • Run rates indicate that SOW is likely to increase from 10% to 14% in the first year

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