Background and challenge
A leading global conferencing solutions provider sought to migrate customers from a legacy software solution to a newly developed platform. The client engaged L.E.K. Consulting to develop a strategic migration road map and to assess the potential financial impact of a customer migration.
Approach and recommendations
We analyzed the client’s historic sales data to understand trends in customer spending patterns and attrition rates. In parallel, we conducted a primary interview campaign with the customer base to gather insight into key purchase criteria, customer behavior and level of satisfaction with the client. As a result, we developed a segmentation framework to categorize customers by size, industry and geographical scope.
We then created a migration road map, which prioritized customer segments. This road map provided the client with a playbook of transition tactics to address specific customer needs and achieve a higher retention rate. Transition tactics included customized value propositions for each customer segment, optimized sales force deployment and a focus on customer service in response to customers’ stated preferences.
Based on the road map and supplemental research and analysis, we calculated an estimate for the incremental value added by the migration strategy.
Results
L.E.K. provided the leading global conferencing solutions provider with a customer migration road map that would improve customer retention rates and grow revenues as it moved to the new platform.
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