Torqit

Torqit had grown steadily over the last few years. They conducted a strategic review and identified the need to strengthen sales and marketing capabilities to drive a high-growth rate.

Improve sales and marketing capabilities to drive high double-digit growth. Aggressive targets would require increased sales productivity, brand awareness into existing and new customer segments, increased lead qualification volume and improved customer service. The opportunity was to develop a sales and marketing strategy and build organisational capability, define quality control systems for stock management and delivery performance and to obtain ISO 9001.

In the first instance, Torqit engaged two specialists to conduct a mini Discovery Roadmap on the sales and marketing functions of the business. A key priority was to develop a strategy and plan for the business to achieve at least 27% revenue growth.

Phase 1: Sales Director engagement

A review of the business’ sales and marketing capabilities identified five key priorities:

• Brand Create brand awareness in new and existing customer segments and drive lead generation
• Sales strategy Improve dealer sales and drive opportunity management against KPIs
• Sales process Define tactics for leads qualification and conversion to sales
• Customer service Increase service quality and delivery performance, reduce returns
• Collaboration Align sales and marketing tactics with strategy and cross-functional KPIs

Phase 2: Sales Director and Marketing Director engagement

A tier-one Sales Director and tier-one Marketing Director were engaged by the business to implement the Roadmap. Initial engagement increased from 2-days each per month to 3-days each per month. Delivery of the Roadmap focused on implementation of tactics across strategy, resources, performance, operations, systems, finances, sales and marketing. Specific deliverables included:

Strategy, Resources and Operations:

• Strategy Communicate the business strategy and align resources and operations
• Financial Define appropriate budget, cost management and monitoring systems
• Resources Define organisational structure, roles, responsibilities, position descriptions, KPIs
• Operations Introduce collaborative processes, meeting rhythms, team performance goals
• Systems Review and align CRM against the customer journey for effective lead management

Marketing

• Define the business value proposition
• Customer segmentation and targeting
• Define the marketing communications messaging strategy and channels
• Create and execute a marketing communications plan to create brand awareness, drive lead generation, marketing lead qualification and transition to sales accepted leads (SALs)

Sales

• Run sales processes to increase conversion of SALs to sales qualified leads (SQLs) and sales
• Process improvements to increase sales productivity across all customer touchpoints
• Improve customer service to build customer lifetime value and net promoter score (NPS)

• A revenue increase of 46% in 12-months
• A refreshed, expanded and effective digital marketing platform
• Increased productivity in the sales and marketing team - more leads  processed, more dealers appointed and more sales revenue per sales people
• Effective team collaboration across functions
• Increased qualified leads, more opportunities, higher conversions
• Less than 1% quality related returns; vastly improved delivery performance.