As part of a sales transformation focusing on pricing and growth, a chemicals company used analytical tools that gave the field sales force transparency on the overall business, which encouraged and enabled them to create their own strategies and implementation plans.
They could create their own projects on the platform, which of course could be tracked by managers, and the impact was impressive: within just a few weeks of implementation, churn was down and pricing was up, and within a year, it contributed an additional $50 million to EBITDA.
The magic was the combination of getting insights to the front line in a simple, easy-to-digest way while allowing reps the freedom to explore some of the underlying input, which let them develop their own ideas.
Source: Mckinsey 2021.