Top UK entertainment firm lifts sales conversion to stay ahead in the market

Background

The client is a leading entertainment company headquartered in the UK with revenues in excess of 13 billion pounds. With a workforce of over 31,000 employees, it caters to approx. 23 million customers across Ireland, Germany, Austria, Italy, Switzerland and Spain – in addition to the UK.

Business challenge

The client saw an opportunity to improve sales performance, given that:

  • Sales conversion stood at 67%
  • Only 60% of associates achieved the set sales conversion target
  • 40% of sales associates achieved a conversion rate of less than 55%

The client partnered with Firstsource to identify the gaps and improve conversion.

Firstsource solution

Firstsource deployed First Customer Intelligence (FCI), a proprietary customer analytics solution designed to deliver actionable insights from customer interactions. FCI analyzed 100,000 associate-customer interactions to identify gaps in the process. In addition, the Firstsource team analyzed the competition, channel performance, as well as key touchpoints in the customer journey. Taking this holistic approach to customer analytics helped the team identify the following issues:

  • Associates tended to propose packages they were most familiar with, rather than asking the customers questions to understand their needs and then propose a specific bundle to meet their requirements
  • Associates were poor at objection handling, particularly those that involved comparisons with competitor packages and price offers
  • Associates often allowed conversations to end without asking for the sale

Based on the findings, the Firstsource team implemented the following solution to address the gaps:

  • The Firstsource team trained and coached associates on four critical aspects:
    • Asking targeted questions to better understand customer needs
    • Creating specific bundles that would meet different customers’ specific needs
      Understanding competitor products and handling objections, especially those involving competitor products
    • Closing sales effectively by asking questions like ‘is there anything stopping you from taking this package’
  • The team also made the following process improvements:
    • Incorporated metrics impacting sales and retention to track associate performance and provide customized feedback for performance improvement
    • Modified scripts to help associates take better control of their conversations with customers by asking the right questions

Business impact

The Firstsource solution helped improve associate performance leading to:

19%

Contact avoidance


15%

Increase in sales conversion


4%

Improvement in NPS


2%

Reduction in super-detractors


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