Fintech Giant Capitalizes on Untapped Markets Across Europe and Uncovers $30M in Additional Revenue
Fintech Giant Capitalizes on Untapped Markets Across Europe and Uncovers $30M in Additional Revenue
Industry
For fast growing financial services companies, multi-lingual support is key to meeting evolving customer service demands and expanding into new markets, particularly across Europe. Additionally, adopting data-driven CX strategies, alongside cross-skilled inbound and outbound sales teams, can help these companies effectively target high-potential markets.
The Challenge:
Our client, a prominent multi-billion dollar financial services company, faced a critical need to establish a multilingual sales force, with a specific emphasis on the burgeoning German market.
With a primary focus on mid-market to enterprise-level merchants, the client lacked support for smaller businesses looking to set up accounts and implement payment products on their ecommerce sites. By collaborating with an outsourcing partner, they were looking to cost-effectively facilitate the acquisition and onboarding of SMB merchants, and efficiently upsell products, in turn unlocking incremental revenue streams.
The Solution:
Our team helped the client implement a strategic approach to sourcing and training a versatile outsourced sales team, resulting in a low Cost-per-hire (CPH) ratio.
- Identified and recruited a diverse team of sales development representatives (SDRs) proficient in both English and German, enhancing our ability to cater effectively to a wide range of markets and customers.
- Empowered our agents through a comprehensive cross-training program, equipping them with a broad skill set, and transforming them into adaptable universal agents capable of handling multiple functions and selling various products.
- Meticulously planned and forecasted our delivery to maintain operational continuity and deliver on billable hours.
- Deployed a small percentage of buffer agents in each team to cover and fill staffing gaps, ensuring uninterrupted support and service delivery.
- Established an inbound service line for the German market, dedicated to facilitating the onboarding of new merchants. The initiative not only streamlined the onboarding process but also identified potential upsell opportunities, driving incremental revenue growth.
The Results:
Over the course of six years, our partnership has experienced remarkable growth, evolving from two small teams to an operation of over 100 agents. Our dedicated professionals play a pivotal role in supporting various functions within the client’s operations, encompassing onboarding, upselling, new acquisitions, and integrations, across more than 10 markets.
Operating in both inbound and outbound capacities, our reach currently extends beyond SMBs to encompass Tier 1 Enterprise companies, marking a significant expansion in our market presence and influence. Harnessing the power of data-driven insights and customer feedback, we have gained an invaluable understanding of market variations and sales trends, and achieved consistent geographic and product expansion year after year.
- Generated over $30M in revenue in the last four years – from previously untapped SMB markets
- 80% average win rate in German markets and 50% across all markets – our highly productive workforce manages a pipeline of 200 opportunities per month
- 30% Decision Maker Connect Rate in the EMEA market
- 95%+ Answer Rate on inbound support calls
- 30% conversion on upsell opportunities
Redefining banking and financial services CX
Predictive and human-centric operations for the next era
