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Manufacturing Company Case Study
Expectations based insight unlocks fast growth
Situation
A growing manufacturing company in the nutraceutical industry had never conducted any form of customer research.
Faced with increasing competition, its goal was to increase customer loyalty and retention by improving the customer experience, so that customers found no reason to consider alternative manufacturers.
Our Task
We were tasked with:
- Understanding customer expectations of their business customers and creating an Expectations Map.
- Running an expectations-based, performance survey for all 96 customers.
- Providing insights to inform.
- Leading a workshop with the board on the data.
Action We Took
The work broke down into the following stages:
- Rapidly engaging key employees, especially the salesforce.
- Analysing customers’ expectations of an ideal manufacturer of nutraceutical products.
- Creation of an expectations map and design of the performance survey.
- Analysing survey results to derive key insights for presentation to the board.
- Facilitated feedback workshop to explain results and help develop CEO-led action plan to target priority areas.
Results
- The salesforce was highly engaged in, and supportive of, the improvement plan and immediately implemented it.
- Operations learned more about working effectively with sales and rapidly deployed new methods.
- Customers were delighted with customer experience improvement and retention of key accounts was high.
- Cross-sell and up-sell revenues improved.
- Revenue – profit growth supported a £2m investment in a new production line for health-food bars.
- Turnover grew from £13m to £23m in the next 3 years.
- B2B customers grew from 96 to over 140 in the same period.
- There is a plan to repeat the process in 2022.
Project take-away
Even a successful company can derive significant value from reviewing their customers’ expectations and how they are performing against them. This informs changes to accelerate results.