Background
LEM’s five-year strategic objective was to grow sales from approximately $3 million to $12 million. Realizing the organization did not have the internal marketing and sales manpower to drive such growth, leadership turned to DVIRC for support.
Solution
DVIRC worked with LEM’s leadership to prioritize resources and actions required to drive $9 million in topline growth. DVIRC formed a team to work with LEM and establish a Voice of Customer benchmark, examine pricing competitiveness and margins, study sales and marketing strategies and tactics, identify areas of opportunity for website and brand enhancements, and create a timeline for tactical deployment.
DVIRC worked closely with our team at LEM to really understand the business, re-invigorate our web and e-commerce sites, and help us lay out our marketing strategy. As a result we have experienced 30% growth each year for the past three years and are now 70% beyond our original goals. And profitability has increased too!
Maureen A. O’Connor
The DVIRC team worked closely with the LEM team on our growth plan,. The DVIRC team invested the time necessary to understand our objectives, define the work to be done, and set the timeline for completion. We were amazed that the projects were completed, given our aggressive goals. LEM Products Inc. will continue to work with this excellent team of marketing professionals as we remain on track to attain our forecast revenue targets.
Maureen O’Connor, CEO/President, LEM Products
LEM is committed to quadrupling their revenue over the next five years. We rose to the challenge and earned a place as a trusted advisor to LEM’s leadership. As part of a series of transformational growth projects, DVIRC set out to build a sales and marketing strategy that bridged LEM’s existing gaps and got them on target to realize their goals. Today when I look at LEM, I see the type of company that I wish so many of our clients would aspire to be.
Chris Scafario, Director, Marketing Services, DVIRC
Results
- LEM reports a sales increase of approximately $200,000 as a result of the project, in addition to $500,000 in retained sales
- The DVIRC-led process also aided in the creation of six full-time jobs
- Quantified cost savings = $165,000
- Quantified investment in information systems or software = $59,000
- Quantified investment in workforce and employee skills development = $47,000
- Avoidance of unnecessary/savings on investments = $25,000
- Sales increase of approximately $200,000 as a result of the project
- $500,000 in retained sales
- Cost savings = $165,000
- Avoidance of unnecessary/savings on investments = $25,000