Identified up to incremental €45M revenue opportunity through information architecture improvements and reducing bounce rates.
Moved in rapid 3 week sprints on individual themes, delivering tangible revenue opportunities within 3 months.
Up to €18M monthly incremental average impact from implementing a guided selling tool on the website and a focus on consultative selling.
Delivering Incremental Revenue through Differentiated Customer Experiences
The company had built a reputation for collaborating with customers and stakeholders to improve life and health through innovative science. They understand that researchers need access to state-of-the-art tools, services, and expertise for innovation and scientific breakthroughs. Already, they had one of the most robust portfolios in the industry, best-in-class products for pharmaceutical development and manufacturing.
A key goal was increasing revenue through truly differentiated customer experiences on its e-commerce platform that would give it an edge over the competition. More precisely, the company had its sights set on delivering incremental revenue and improved customer satisfaction. However, they knew they needed help thinking outside the box to truly differentiate their customer experience.
Leveraging eCommerce Customer Experience Best Practices and Outside-In Thinking for Enhanced Revenue Growth
Nerdery’s Insights and Strategy team took an outside-in approach, crafting a business strategy that started with the market and focused on creating novel strategies to capture customer value.They initially conducted a detailed analysis of market and competitor trends. This collaborative process involved the client team, jointly identifying and prioritizing potential themes to conduct a more comprehensive analysis and research.
To delve deeper, the team also conducted comprehensive trend analyses for each identified theme. Special attention was given to the competitive landscape, with a particular focus on understanding the unique implications of these trends in the life sciences and eCommerce sectors. Meticulous revenue modeling was conducted for each theme, providing valuable insights for the strategic planning process. As a result, initiatives with the highest potential for revenue growth were identified to include in their product roadmap.
Over €40M Revenue Increase Opportunities and Enhanced Customer Experiences
Nerdery’s digital consulting expertise empowered them to not only meet but exceed its revenue and CSAT targets in 2023. Through rapid execution and deep expertise, Nerdery partnered with this global life science company to envision a customer-centric evolution of its e-commerce platform. With estimated incremental revenue opportunities totaling €41M – €69M, Nerdery’s approach continues to shape the future of customer experiences in the life science industry.