Case study
Reversing the sales decline of a global sewing machine company in three months
Interim VP Sales & Marketing increases revenue run rate by 20% vs. plan
Situation
The client, a prominent designer, manufacturer, and distributor of sewing machines, was encountering several significant challenges. These included a deterioration of relationships with key dealers due to the elimination of previously offered heavy discounts, reduced marketing spend, major quality problems, and poor communication. The company’s complex multi-tier pricing plans failed to deliver the expected incremental business, and key account sales planning, training, and management had proven to be ineffective, recent forecasts indicated significant revenue and inventory level risks.
Candela's Role
Our Candela team member assumed the role of VP Sales & Marketing (NA) with a mandate to swiftly reverse the decline. He implemented a series of measures aimed at improving accountability, efficiency, and communication throughout the sales group, as well as enhancing the forecasting process to focus on the most critical initiatives. To drive growth, he developed a comprehensive plan to leverage existing sales tools effectively. This involved designing and implementing new monthly events and promotions and increasing education and training to enhance the capabilities of the sales team. Additionally, he streamlined the wholesale pricing plan and restructured benefit programs to incentivize customers to increase revenues.
Impact
Within three months of assuming the role of VP Sales & Marketing (NA), our team member successfully reversed the declining revenue trend with run rates exceeding planned numbers by 20%. Moreover, communication channels and relationships with key accounts were effectively restored, resulting in YTD revenue for the top 10 accounts meeting or exceeding plans.
20%
Revenue Run Rate vs. Plan
10
Top Accounts Meeting or Exceeding Plan
3
Month Turnaround
