Business development is about pursuing opportunities so as to attain long term growth from markets, customers, and relationships. Focusing on ways to develop business is necessary to increase the profits of a company by attracting new customers and also by increasing the spending of existing customers.
The service delivery process of a leading IT service company was not well defined. Additionally, not having an effective knowledge management system further had a negative impact on the overall delivery of the services to the customer. This resulted in,
- Low customer satisfaction scores.
- Risk of losing the customer.
- Revenue loss.
We developed a strategy making the customer experience as the core focus area. The plan focused on improving operational efficiency through process improvement initiatives, enhancing team capabilities, implementing a knowledge management system, and a robust operating model. This resulted in consistently meeting the SLA and improving the customer service and experience.
The strategy helped retain the customer and increased their annual spend. Annual revenue increased by US$ 500K, improved customer satisfaction scores from 3.5 to 6.0.