Doubling Revenue for an Industrial Pump Manufacturer Through Strategic Telecalling and Market Expansion

Background

An innovative Pune based company specializing in manufacturing industrial pumps was facing an unprecedented challenge. Their primary customer base, ETP (Effluent Treatment Plant) and STP (Sewage Treatment Plant) manufacturers, had always relied on in-person cold visits for lead generation. This method, while costly and time-consuming, came to a grinding halt during the COVID-19 lockdowns. The pandemic hit hard, causing their business to dip significantly. Revenue, profits, and cash reserves were all in freefall.

Their seasoned salesperson shifted to telecalling, but the results were dismal. Without in-person visits, their outreach felt flat, and they were stuck in a rut, unable to generate new leads. Unsure of the next steps, they reached out to Business Coach Milind Bibikar for guidance. With hands-on experience in the water treatment and wastewater treatment industries and over a decade of scaling businesses, Milind was the perfect fit to help them navigate this crisis.

The Transformation Journey

Revamping Telecalling Scripts

Milind began working one-on-one with the founders. Instead of implementing entirely new strategies, which would have been expensive and slow to yield results, they focused on a quick yet effective fix: revamping the telecalling scripts. The goal was to make these scripts engaging and value-adding for prospects.

Testing and Measuring

Every call was tested and measured for engagement duration and prospect responses. Feedback was meticulously gathered, and the scripts were modified and relaunched based on this data. The engagement time on the first call increased dramatically from less than 30 seconds to 2 minutes, a significant improvement.

Booking Appointments

With these engaging two-minute discussions, the team was able to book appointments for Zoom video calls. This simple but effective tweak in their approach started generating more leads. In just four months, the company shifted from a negative 40% revenue dip to positive revenue.

Expanding Sales and Training

The positive momentum continued, and in the next three months, revenue grew another 30% beyond their previous performance. They added more new customers that year than ever before, many of whom provided recurring business. The company also hired additional telecallers. To keep hiring costs low, they brought in freshers, confident in their ability to train them using the new scripts.

Geographic Expansion

The initial strategy of cold calling physically limited their geographic reach. By switching to telecalling and remaining dedicated to improving this strategy, they opened up new markets that were previously unreachable without incurring any additional costs. With a solid foundation in place, they expanded their market base to include new geographic areas. The newly hired telecallers were productive in booking appointments within the first 15 days of joining, a huge win for the company.

Advanced Lead Generation

Buoyed by their success, they eventually added advanced methods of lead generation such as LinkedIn and email campaigns, opening additional channels for lead generation. This multifaceted approach ensured a steady flow of new leads and opportunities.

Outcome

The transformation was nothing short of remarkable. The company more than doubled its turnover without impacting profit margins. They evolved from a state of uncertainty and decline to a thriving, growing business. The journey demonstrated the power of targeted, well-executed strategies and the significant impact that focused business coaching can have.

This exciting transformation story not only showcases the effectiveness of practical, quick-fix strategies but also highlights the importance of adaptability and continuous improvement. It serves as an encouraging example for other businesses facing similar challenges, illustrating that with the right guidance and persistence, overcoming obstacles and achieving substantial growth is entirely possible.