Estimating Addressable Market, Developing GTM Strategy, and Designing Sales Territories
Posted by | Fuld & Company
The B2B segment of a global video conferencing solutions company historically saw double-digit growth. However, as its market penetration stabilized, B2B sales slowed. The company needed support in re-designing its sales effort, including lead sizing and territory design.
Objective
- To reset, clean, enrich, and expand the CRM.
- To redefine business opportunities available from current customers and prospects.
- To redesign sales territories for optimal usage of sales team resources.
Approach
- Conducted a workshop to understand the client’s business model, pricing strategy, and other key parameters.
- Enriched the current CRM and added new leads from 3P data sources.
- Identified and collected demand driver data (e.g., number of employees) for predictive modeling.
- Created customer clusters based on common purchase behavior and developed an ML model to estimate the potential market for each cluster.
- Designed recommended sales territories and assigned accounts to sales associates based on lead potential.
Outcome
- Increased lead conversion by 8 percentage points and sales growth by 12 percentage points.
- Increased sales representatives’ customer satisfaction and boosted their morale through equitable target allocation.
Algorithms Used: Classification models such as logistic classification, Random Forest, ensemble classification, and neural networks
Tools
Tags: case study, Data analytics, Market Share, Marketing Strategy, Pricing Strategy
