Single view captures new customer opportunities for Security Services Leader
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Market Insight employed to identify exciting new opportunities for cross-selling, customer acquisition and retention.
This global provider of security services supports clients across business sectors: from government and defence to banking and manufacturing.
Previously operating as two separate businesses, bringing together multiple revenue streams and the two distinct customer databases - each with its own format and customer numbering - was proving a challenge.
The objective was to consolidate; to create a single view of customers and gain greater insight into their characteristics. The results would mean more business and better client servicing.
D&B’s involvement began with the adoption of its Market Insight analysis tool and data by the Security business unit. By matching the division’s customer records against global reference data D&B generated a unique identifier for each customer – allowing the unit to look at its customer base in a completely new way.
For the first time it could identify the actual number of unique customers – before segmenting by industry, size, and parent company. This capability proved invaluable when a substantial number of customers with multiple sites were uncovered - only a handful were already being serviced by the firm.
In response, a Major Accounts Team was created to concentrate on the cross-selling opportunities. Within 12 months, the team had generated several million pounds of additional business.
Following the integration of the two businesses, D&B was again engaged; this time to undertake an exercise to match and append data to the business records. The data was cleansed and consolidated before being combined with the second set of business data to create that all-important single customer view.
Again, Market Insight was able to identify a range of additional cross-selling opportunities – and the firm could restructure its sales activities, telesales and territory planning to take full advantage.
By combining customer data from both former businesses, the company could identity which customers were buying products and services from both businesses – as it turns out the answer was remarkably few. Once again, another huge opportunity for the 250-strong sales team presented itself. Today, it is generating substantial incremental revenue for the combined business.
Using the single customer view enabled by D&B gives sales teams all the information they need to organise and coordinate call cycles based on contract renewals. But that’s not all.
Market Insight’s modelling capabilities are being used to fine-tune prospect targeting – generating higher appointment hit rates and better quality appointments that have dramatically increased sales engagement. And, with the help of Market Insight’s MapPoint module, the firm has been able to re-allocate sales territories and change its branch structure to better serve customers.
The ability to achieve a single customer view, combined with advanced customer profiling, has generated millions of pounds of incremental sales. What’s more, the company has been able to increase its sales effectiveness, transform territory planning, and engage in increasingly sophisticated campaigns around customer acquisition and retention.
Next, the company plans to integrate a data feed from its ERP platform with Market Insight to identify upsell and cross-sell opportunities at different stages in the customer lifecycle in a bid to further maximise customer value.
“Pretty much from day one, Market Insight enabled us to visualise our customer base in a way that had previously been impossible.”
Strategic Data Analyst, Security Services company