We delivered strategic analysis for a large energy retailer, identifying up to ~£103m in incremental revenue opportunities, through a comprehensive Market Scan Analysis and Sales Channel Maturity Assessment.
What was our client’s challenge?
Our client had a limited understanding of their competitors’ sales performance drivers, and their in-house opportunities for sales channel improvements, which was restricting investment impact.
Key challenges included:
- Trending loss of market share, as some competitors continued to gain
- Objection rates being higher than industry benchmark, resulting in lost sales and reduced market penetration
- Inefficiencies in the home moves process, driving lost opportunities within move-in and move-out positions, with significant volumes of ‘occupier’ accounts
- Outsourced telesales inefficiencies, resulting in a high volume of abandoned calls, especially during peak periods, with over two-thirds of calls failing to present sales opportunities
- High dropout rates in the digital sales journey, equating to ~6,000 lost sales annually
- Lack of operational insights, preventing best practices and hindering performance management within servicing teams
How did BFY help?
To address these challenges, we implemented a two-part approach:
- Market Scan Analysis: We conducted an in-depth market scan to benchmark our client’s performance against industry leaders. This analysis pinpointed key opportunities and areas where the client’s sales approaches deviated from market leaders.
- Sales Channel Maturity Assessment: A comprehensive maturity assessment of all sales channels was conducted to identify and prioritise areas needing investment. This assessment revealed specific interventions needed to enhance both the effectiveness and efficiency of sales processes.
Based on these insights, we developed a three-year delivery roadmap, providing a clear, actionable plan to achieve targeted improvements.
What results did this deliver?
Our analysis has helped develop the case for our client to deliver:
- An incremental sales increase of up to ~65,000 per year
- Up to ~£103m in incremental revenue opportunities
- A strategic shift in sales and marketing approaches, based on best practices of market-leading competitors
All recommendations are currently being implemented through the client’s BAU planning processes.
This has been incredibly insightful. We have never been able to see the data and insight laid out so clearly and this has given us a clear and prioritised roadmap for the first time.
Sales and Marketing Director
