Background: A long-standing media company, this smaller business had enormous potential to grow. Business leaders wanted the growth, but the company was unstructured to do so. Specifically, the goal was to sell more media with fewer people. Grow revenue while reducing costs to improve the company’s profitability.
Opportunity: The Company was originally structured with multiple sales teams selling only one product. Staff size was very large, resulting in low revenue per sales person. This needed to change.
Steps: iBG’s thorough research and analysis uncovered information that led to iBG presenting a business case for change. This included moving from a one-product offering per sales member to a portfolio of media products that every seller offered clients.
This move in sales structure offered clients a larger opportunity for their businesses to grow, choosing a variety of media solutions. At the same time, internal competition between the Company’s sales team was eliminated; staff was reduced, and became very efficient.
Educating leadership and staff on what a brand is, and how the Company’s brand could grow into a portfolio of products and sub-brands, resulted a more efficient structure of having each seller selling multiple media platforms.
The focus was on integrating the Company’s Business Strategy for growth and increased profits with their new Brand Strategy. iBG worked with top down and bottom up teams at the same time, in all departments (production, programming, sales, marketing and administration).
Summary: Not only did the sales staff reduce from 60 sellers to 18, the Company gained a significant increase in market share, increased spend per client and created a broader reach to customers. Over the five years as a client, iBG helped them double their revenue.
The Company lived their brand on the inside first by educating sales members on the variety of media platforms and how they work together to add more value to customers, utilizing iBG tools, methodology.