A leading developer of database management tools introduced its latest software upgrade
Because it was the first new release in several years, it was imperative to develop rapid customer acceptance and momentum for the update
Situation Analysis
Because the new version was the first major upgrade of the product in more than three years, some customers had not been contacted for as many as five years
In the intervening time, some had migrated to competitive solutions. Other customers would be upgrading from versions three iterations previous, which necessitated greater customer education on the value points of the new product.
Finally, because of multiple customer data sources and the fact that some of the data was old, the client was uncertain of the accuracy of the contact information.
Action/Solution
CSD began by performing a thorough data scrub to update contact information on all past customers and determine whether they were still using the old version of the software
The CSD representatives gathered intelligence on how the customer utilized their software
Upon determination of their usage patterns, CSD facilitated a high value discussion which tied the value proposition and improvements of Alpha Five Version 5 to that particular customer’s database applications
Value/Results
CSD raised the sales closure rate from 10 percent to 18 percent, drastically increasing the revenue flow to the client
Average sales price increased from $299 to $475
Attachment rate achieved 75 percent
Despite old data and numerous other issues, the installed base sales team was responsible for more than a half a million dollars in revenue in just over three months
