What would it mean to your print management business if you could boost your project win rates by 70%?
That’s what a leading office products company did using marketing procurement software from Mtivity.
In our last post, we saw how the company slashed its time from quote to revenue from 3 months to under 3 days. Of course, quoting a job is just the first step. Winning the job and booking the revenue is always the ultimate metric.
In 2016, the company’s win rate for projects hovered at only 11%. Over the past year, the win rate has steadily grown as more employees started using the Mtivity Marketing Acceleration system across the company’s different locations. In 2017, the win rate jumped and has remained steady at over 70%, proof that time spent using Mtivity to quote jobs is driving revenue.
This print management provider’s project win rate went from 11% to 70% and stayed there.
In addition to winning more business, automating the quote process has made it possible for the company to book a higher volume of business while improving profitability.
“Before, we needed an order worth $1,000 at 30-40% margin to break even,” says the print management executive who led the Mtivity project. “Now, we can break even on a $200 order at 20% margin. We can take more business and be more profitable with Mtivity.”
With early wins in place, the company is now looking at expanding its use of Mtivity to enable new sources of revenue growth. “Digital print is certainly growing, but 70-75% of print business is still not digital,” says the executive. “Rather than walk away from that business, we want to address it and integrate it into our supply chain.”
Ultimately, the company wants to take advantage of other Mtivity capabilities to scale its business, such as the ability to add business clients as users to provide more visibility and transparency into the company’s quoting processes and savings delivered. “Our CEO has made growing the print business a priority,” says the executive. “Mtivity is definitely the technology that will help us scale to meet our goals.”