Background
We worked with ADP to increase the close rate and decrease average deal length by improving the UX, and design of their Major and National Account sales process. For potential customers to make a decision about ADP they go through an in depth process to assess the ROI and value they will/wont receive. This meant that they spent $30-50k hiring 3rd party consultants to "objectively" look at the potential customer's data and determine which, if any ADP product would be the best fit for them and provide as accurate an estimate as possible about the ROI they would receive over a certain timeline.
Our Results
The new system resulted in an increase in their close rate from 21% to 44%, more than double. That increase in close rate, along with reduced friction throughout the process resulted in over $20M in new business in less than a year.
High Level Description of Old Process
For context, the sales process used to look like this - contact with client, general understanding of their needs - begin assessment by flying out Business Consultants to get up to speed - Consultant goes through a very complex 30-40 page survey collecting information from 4-6 departments throughout the company to get data. - Business Consultant is required to fill out almost all of the form because it is hard to understand what they're trying to get at and how it fits in to the overall pictures. - In general, this data collection would require contact with 20+ different people, plus decision makers and people to give authority to release the data. - Once data was collected (2-3 month process) the Business Consultant would look at it and tell you what to pick - Different Business Consultants would provide different conclusions, reasons, methodology, and reports. - ADP sales person comes back into the process and tries to catch up on the deal by talking with the Business Consultant offline - ADP sales person reaches out to client to try to close the deal that the Business Consultant recommended.
Revamped Process
- ADP sales person sends client a secure online survey - Potential customer can assign any portion out to any relevant person in their organization for completion (now takes only 2-4 weeks) - Once data is collected, the sales person sees an interactive calculator that they review with the potential client. - The platform uses best practices to highlight the most impactful changes any ADP product would have on their business. - Sales person and client review each potential change and determine specific impact based on industry trends, past ADP experience, and client appetite for change. - a consistent, branded series of reports is generated showing the client an exact breakdown of both hard, soft and reallocation savings across all products assessed
What Changed
- We greatly reduced the time it took to collect and aggregate the data and made it digestible to a potential client - We reduced or in many cases eliminated the need for an expensive Business Consultant, taking a $25-50k expense down to $5k or less (which was they often small enough to be covered by ADP so the client never felt it). - Streamlined the analysis process - Provided a benchmarking tool for comparison against similar companies over any period of time. - Created prompts and guides throughout the tool to assist sales people in the sales process by giving them talking points, highlighting cost savings and risk reduction. - Created a consistent, cohesive set of reports so that ADP was confident in the data, presentation and promises being made
Key Takeaway
We made the process faster, simpler, more consistent, more reliable, less expensive and provided an ROI of more than 40X in the first year alone.