CHALLENGE –
The company was facing an external perception issue that originated with the company’s original brand. The fifteen-year-old company had made tremendous strides in capabilities that included technology advancements and enhanced services for clients since inception. Further, the company had recently expanded the sales force by approximately 30%. At the time, the company was making it to the “final” 3 to 5 companies in almost every RFP opportunity in which the company participated. However, the close ratio was not improving!
ACTIONS –
The goal was to alter outside perception of the company without changing the culture inside which was family orientated with a closeness between staff. Due to the fact the initial reaction from internal associates (as well as investors) was met with concern, we established an internal team comprised of associates from each department within the company in addition to an external agency that was selected from our own RFP process. We also included the Board of Directors.
The defining moment was a very simple exercise. We deployed a survey to all customers, suppliers, and employees. For each returned survey we offered a $5 Starbucks card. The results were amazing both from participation as well as additional unsolicited comments that were offered. An overwhelming response showed that the service level we were providing had exceeded expectations from every category but specifically from customers and suppliers. This was a breakthrough moment on two fronts: 1) it solidified that our original name/brand had a connotation of a smaller / more regional brand and 2) the results convinced the internal team that had been assembled that the company should be open to change (rebranding effort) and because we had formed a team – there was a “groundswell” of support to embrace the effort.
Even with the newfound “energy”, the agency that the company had partnered with cautioned us to go through the deliberate year long process to ensure success with the roll out. Given the concern that we did not want to negatively impact company culture, we decided to “announce” the change to the entire company first prior to going to the market – which we did at our annual Sales Meeting.
RESULTS –
The impact was significantly greater than what we had hoped for! First, it completely reinvigorated the Sales Force. It gave them a reason to speak to all clients – large and small, current, and previous. Due to this additional client facing activity, the company’s sales realized immediate growth. Additionally, the close ratio improved immediately which was the primary goal. Oh, by the way – the company realized double digit increases the next four years in a row!