An industry-leading bioanalytical lab was in need of an optimal commercial strategy to increase revenue, improve new sales, and accelerate demand. The company requested Kineticos conduct a commercial strategy review to guide the company’s key decision makers towards a reenergized commercial effort.
Kineticos conducted a detailed review of the market opportunity and internal current state, which included the below components.
- Leveraging a proven Top-Down and Bottom-Up approach to identify the market opportunity including size, growth and relevant trends
- Voice of customer survey to gauge customer perceptions and needs
- Internal gap analysis of current key staff, customer and sales data, facilities, processes, commercial alignment and metrics
The efforts resulted in a final report inclusive of key market data, core strengths and weaknesses, and valuable customer feedback; all of which fed into several data-driven recommendations and a detailed implementation plan.
The final report provided the company’s leadership team with clear and actionable recommendations that addressed the following commercial topics:
- Addressable Market Opportunity
- Commercial Sales Process
- Key Performance Indicators
- Sales Planning
- Commercial Alignment
- Voice of Customer
- Value Proposition
The recommendations were then prioritized and rank ordered based on their impact on increasing new client win rates, revenue and profit margins.