Growing as a more better and cost effective organisation
Financial institute tackled low ROI and poor conversions, undertakes a broader transformation focused on better strategy and execution
SECURING SUCCESS IN FINANCE
Starting Point
Our client is a leading financial services firm in Singapore, providing a comprehensive range of investment and wealth management solutions. Despite their robust market presence and a dedicated customer base, they were facing persistent challenges with high marketing, sales, and business development costs. Their ROI was subpar, making it difficult for them to optimize their efforts and grow effectively in a competitive market.
Challenges:
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High Marketing and Sales Costs: The firm had been investing significant resources into traditional and digital marketing campaigns, as well as outbound sales strategies. However, the cost per lead and overall conversion rates were not yielding desirable results.
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Poor ROI on Business Development: Despite numerous initiatives and significant spends in business development, the firm struggled to generate meaningful returns, leaving senior management concerned about their overall sales and marketing efficiency.
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Lack of Strategic Alignment: The company’s marketing, sales, and business development teams were operating in silos, causing inefficiencies and missed opportunities for cross-functional collaboration and a cohesive strategy.
The Way Forward
After analyzing the challenges and bottlenecks in the firm’s existing processes, the client turned to Benison GR7 Business Development Services for an effective Go-To-Market (GTM) strategy overhaul and revenue optimization plan.
Key Actions Taken:
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Comprehensive Analysis of Current Processes: We began by performing a deep dive into the firm’s current marketing, sales, and business development strategies. Through data analysis and performance reviews, we identified key areas where the firm was overspending, including inefficient targeting, under performing campaigns, and resource misallocation.
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Refinement of Targeting and Segmentation:
One of the key areas of improvement was refining their targeting approach. By leveraging advanced data analytics, we helped the firm segment their customer base more effectively, focusing on high-value prospects that were more likely to convert into long-term clients. This segmentation allowed them to tailor their messaging, enhance personalization, and improve lead quality. -
Optimization of Marketing Channels: After analyzing the marketing spend, we discovered that a significant portion of the budget was being allocated to channels that were not delivering high ROI. We helped the firm shift their marketing strategy to prioritize more cost-effective digital marketing platforms, including SEO, content marketing, and social media advertising. This allowed them to reach a larger audience at a fraction of the cost of traditional marketing efforts.
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Sales Process Streamlining and Automation: The sales team’s processes were often disjointed, with too much time spent on low-impact activities. By introducing automation tools and refining their CRM system, we helped streamline their workflows, allowing the sales team to focus on high-conversion prospects and close deals more efficiently.
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Business Development Strategy Overhaul: A key element of our engagement was revising the firm’s approach to business development. Instead of relying on broad, high-cost strategies, we focused on creating a more targeted outreach program. By utilizing our proprietary business development techniques and leveraging strategic partnerships, the firm was able to generate higher-quality leads and form valuable connections, resulting in a stronger sales pipeline.
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Cross-functional Collaboration: We facilitated closer collaboration between the marketing, sales, and business development teams, ensuring that all functions were aligned around common goals. This fostered a more cohesive approach to customer acquisition and retention, increasing efficiency across all departments.
Results:
After working with Benison GR7 Business Development Services for a single quarter, the financial firm experienced significant improvements in both revenue generation and cost efficiency. The results were remarkable:
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20% Increase in Results:
Through more effective targeting, optimized marketing efforts, and a streamlined sales process, the client saw a 20% increase in their overall performance, measured by the number of quality leads generated, conversions, and overall revenue growth. -
37% Reduction in Marketing and Sales Spend:
By focusing on high-impact channels and refining the sales strategy, the client was able to reduce their marketing and business development spend by 37%, without sacrificing lead quality or conversion rates. This translated to a much more cost-effective growth strategy. -
Improved ROI on Business Development:
The company saw a marked improvement in their ROI, as the more targeted approach to business development led to higher-value opportunities. The newly implemented cross-functional alignment also contributed to the efficiency of their sales and business development efforts. -
Sustained Long-term Growth:
The optimizations introduced during the quarter are expected to have long-term benefits, with the client now operating at a much lower cost structure while maintaining higher revenue levels. The strategies put in place will continue to yield dividends in terms of both cost efficiency and market positioning.
Conclusion:
This engagement demonstrates how Benison GR7 Business Development Services can transform a financial firm’s approach to marketing, sales, and business development. By strategically reducing waste, optimizing targeting, and aligning internal teams, we were able to help our client achieve 20% more results with 37% less spending. These outcomes not only provided immediate cost savings but also set the stage for sustainable growth and improved profitability moving forward.
Through this partnership, the client now operates as a more agile, efficient, and cost-effective organization, prepared to compete more effectively in the dynamic financial services market of Singapore.