Launched business intelligence solution one year ahead of plan.
Reduced BI implementation costs by 200.000 Euros.
Increased sales team satisfaction and engagement.
Problem
The customer is one of the most important German distributors of new and used tools in B2B. It sells around 40.000 different articles to an estimated 4.000 customers in Germany and Austria.
Since most of its customers are using the internet to find, compare and purchase products, the sales representatives are always too late when a customer has already churn. The sales management is trying to correct this with investments in sales controlling.
There is sales data across several systems, among others ERP, CRM and web-shop interactions. No key account manager used this data. Instead, they planned customer visits based on their experience and gut feeling.
The IT department together with the Sales Management have been working on an anti-churn application that scores customers to avoid them for churning while sustaining margins across customers segments.
A significant part of the problem was the company unfounded belief, that the sales team did not have enough sales data and that data quality was not good enough.
Solution
The company trusted Qymatix expertise in developing a customer churn software and worked on predictive analytics proof-of-concept. In less than one week and with a minimal investment in data analysis and sales consultancy, significant improvements in sales controlling were detected and implemented.
The company started with a two-day workshop about predictive analytics – for non-technical personnel. A business intelligence project using Qymatix technology followed. The customer was presented with the latest predictive analytics methods based on their available sales data and existing tools.
The Qymatix experts showed the customer that no data set is too small to offer monetary benefits. As a result, Qymatix spared the customer from additional investments in data quality, by pointing out exactly which information is statistically more relevant.
Qymatix assisted Sales Management in interpreting these results and suggested possible corrective actions. Simulations were run in the Qymatix solution free of charge.
During this consultancy project about predictive analytics, the sales manager was able to identify new opportunities and the most relevant sales data to prevent customer churn.
Besides, the company expanded its methodical competence for the specific use of predictive analytics for sales planning. Together with Qymatix experts, the sales management evaluated appropriate planning and control concepts and KPI.
Changes in sales controlling helped to reduce customer churn and to create competitive advantages through increased sales effectiveness.
Results
The customer estimated that with Qymatix help, they were able to bring forward the implementation of its business intelligence solution by one year while saving around 200.000 Euros.
Avoiding unnecessary investment in non-relevant data quality improvement measures increased the satisfaction of the sales team. Ducking needless efforts was critical for getting sales representatives on board.
Detailed information about the monetary benefit was calculated together during the project. The customer was able to prioritise future investments in data assets based on this analysis.
“Qymatix helps growing medium enterprises to find undetected business opportunities with existing customers. With a thousand active ones in our portfolio, Qymatix Predictive Sales Analytics is exactly what we need.”
Daniel Schuster – Welotec GmbH
“Regardless of your company size, Qymatix is the best complement for your CRM system. Its predictive sales analytics tool helps sales leaders to focus on the projects with the best chances.”
Armin Harbrecht – aramido GmbH
“Qymatix understands the challenges most of the sales leaders in medium enterprises are facing. I was looking for a way to offer my customers useful insights with one click and I found it with Qymatix Predictive Sales Analytics.”
Thilo Oenning – BATAVER Sales Consulting
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Free eBook for download: Churn analytics and prevention with predictive analytics
Managing and reducing customer attrition is an essential task of a sales manager. Sadly, sales executives often overlook customer churn in practice.
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