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Creating Massive
Revenue Increases
from Existing Customers
This company provides
extremely valuable and proprietary
legislative data and analysis online. Access to the
information was charged on an hourly
basis -- hundreds of dollars per hour.
While customers require the data, they
were unwilling and often unable to
spend that much for the time. But much
of that price was based on hard fixed
hourly access costs charged by the
online service handling the databases.
Since both the pricing
and method of access of the online
service were non-changeable, the company
was up against the wall: a valuable,
much-needed product choked by its
distribution system.
After analyzing this
system, we determined the solution was
how customers accessed the
information. If that could be
improved, vast new revenue opportunities
could be created.
We designed something
revolutionary:
a "front end" software package that ran
on PC's that interfaced with the online
service. It allowed users to work as
much as needed offline and then submit their
work online only when ready. They could then be off in a
fraction of the previously required
time.
While the amount of
per-transaction time
online would decrease,
the aggregate number of transactions skyrocketed. Users
then frequently accessed the database
via the new front-end and become much
more reliant on the system. Multitudes
of new customers subscribed to the
service. Revenue generated grew
massively and the system became the
standard for the industry.
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