Challenge
Throughout the first two years of the partnership with this cloud computing company, Concentrix exceeded 138 percent of initial revenue targets, increased deal closure rates by 55 percent, and exceeded the lead conversion goal by 200 percent. Our inside sales support team also instituted standardized processes, such as persona categorization, to garner insights on performance and grow potential opportunities. But we knew there was more opportunity on the table for growth.
When Concentrix and the client looked to expand our partnership, the client wanted to solve two additional business problems: 1) provide inside sales support to its SMB and emerging market customers, and 2) build out its partner program.
Solution
Concentrix has evolved into a global end-to-end solution provider, covering most of the client’s pipeline for all sales and renewals motions in the SMB segment. Besides new business development, the client also needed inside sales support in increasing revenue and solution stickiness with current customers, onboarding and management of its channel partners, and managing long-tail renewals.
We expanded our involvement with the client through the following motions:
- Business development: Converted warm and cold leads into prospects to hand off to internal end-to-end sales teams through lead sourcing and lead generation initiatives.
- New business sales and account management: Our inside sales support and account management services helped the client grow pipeline sales volume, accelerate time-to-close, create demand from existing customers.
- Customer success, renewals, upsell, and sales ops: Increased recurring revenue from existing customers through account health checks, faster service ticket resolution, improved cross-sell/upsell, and more effective channel partner management.
- Partner onboarding and management: Managed the partner population to improve the quality of partners inducted into the program and continuously improve their onboarding experience.
Outcomes
With these new inside sales support motions, we streamlined processes and launched teams that improved customer satisfaction and revenue growth. Concentrix proved an ROI in the SMB space, and the client has since doubled down on its focus on startups, emerging businesses, and traditional SMBs, helping to build a pipeline of future enterprise customers. Additional results included:
- 190 percent increase in customer revenue since 2019 in the SMB space
- 105 percent of revenue target consistently achieved
- 9,000+ new partners onboarded to support SaaS platforms
- 98 percent partner onboarding satisfaction score
- Expanded partnership to global coverage
