Here’s how we drove $3.2M to the bottom line, starting with zero budget.
The secret was progressive “omnichannel testing.”
Working at a major financial services and document provider during the Great Recession, with no investment at the start, we eventually drove millions in new revenue growth and cost efficiencies. We started small, built fast , and tooted our horn a lot! Here’s how we did it.
Scrounge and show small fast wins
At the start, we had no budget. So we commandeered two empty offices, some old equipment, and built a simple usability lab where we showed leadership that most users were profoundly confused by the web site. A month later, we fixed the website and created immediate new revenue.
Use the fast wins to pay the next phase
Next came outbound email. By testing customers’ understanding and engagement of what we landed in their inboxes, we grew response rates by 21%. That generated more new income.
Now we had people’s attention
Finally, we got the green light and the budget to tackle the big challenge: optimize the massive call center for our phone agents and customers. That drove top line revenue up and bottom line costs down.
Omnichannel was the home run
Each island along the way – web, email, call center, print – needed a lot of work. But removing massive customer friction between the islands made the biggest difference.
The lessons for enterprise knowledge leaders along the path to $3.2M:
- Scale: start small, show quick wins
- Influence: share the impact of user failures and fast fixes widely
- Reinvest: get commitment to spend some of the gain
- Integrate: go deep on omnichannel and multiply the wins
- Promote: evangelize all the successes constantly
All outcomes in business — and in life — happen only within the experiences we encounter or provide. The best enterprise knowledge leaders put this into action.
I’m Bob Berry — researcher, speaker, writer, innovator on the subject of compelling experience. Join my newsletter to follow the ways experiences transform life and business.
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