Success Stories
Domestic Repairs Company
After being in business for 6 years, the business owners made the decision to expand through the purchase of another very similar business. The operational standard of the new business was very poor (unbeknown to the new purchaser). Profitability was only reached through working excessive hours, cutting corners in quality and the provision of discount (but essentially unprofitable) services. Service contracts with major national brands were losing money. Many challenges presented themselves to bring this business back to profitability.
Initial strategies focussed on reducing costs and improving significant inefficiencies in the new business. Over the course of the next 12 months, the two businesses were brought under the umbrella of the parent company, thereby streamlining many processes and cutting costs. The call centre, after being externally managed for some years, was brought in-house. The collection and collation of more accurate data presented an opportunity to fine-tune many aspects of business management, especially sales and marketing effectiveness. The accurate measurement of conversion rates, total call numbers and outcomes of marketing activities has impacted business management and strategy. The development and revision of call centre scripts has resulted in a steady increase in conversion rates.
In addition, significant changes have been made to maximise the return on marketing investment. A reassessment of marketing spend has been made, with a reduction and reassignment of allocated funds that will see the cost of client acquisition drop dramatically. An adoption of more consistent branding across all facets of business from advertising, uniforms, website and vehicles, will allow for more effective brand recognition and future repeat business. A comprehensive competitor analysis has facilitated a more clear understanding of the position that this company occupies and the marketplace and what leverage can be gained from it. In the immediate future, strategies will focus on the development and implementation of strategic sales initiatives and the expansion of the current network of technicians.
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