Improving Win Rates and Customer Retention
Client Problem:
Client “S” is a leading provider of Online Recruiting Software. Their applicant tracking systems are used by many businesses to handle the massive influx of recruits and data from referral agencies and online job boards .
Despite a healthy influx of customer requests for proposal (RFPs), it was only converting only 40-45% of RFPs into actual clients.
KN Solution:
We conducted a Win/Loss analysis, including anonymous, in-depth interviews of 20 customers who had been involved in recent RFP decisions. Based on our analysis of the interview data and other market factors, we identified product deficiencies and marketing messaging that caused the client to lose RFPs, including problems with the user interface, lack of customization, and ineffective marketing programs.
Results:
Modifications to the product combined with improved marketing programs increased the client’s win rate and also significantly improved customer retention.
Want to increase your win rate?
We can start small, with either a well-defined segment of your market or a larger, more comprehensive approach. Contact us and let’s discuss what type of problem you would like to solve.