Case Study: Dailywin Improves Product Development and Sales with CRM for 15% Revenue Growth
Dailywin, a global watch manufacturer, struggled to keep up with the growing demand for personalized products due to slow, manual processes and poor data quality, which caused extensive rework in the product development life cycle. To grow market share and margins, the company needed to shorten the cycle time for product development, manufacturing, and distribution. They sought a single, web-based system to automate customer and sales processes and connect them with production, ensuring consistent information and global collaboration for the traveling sales team. By implementing WisageTech consulting services and 8Manage CRM software, Dailywin successfully integrated their marketing, sales, and product development processes. This led to real-time business management, a 15%+ increase in revenue growth, a 10-day decrease in the average sales cycle, and client satisfaction ratings averaging over 95%.
Background
Founded in 1978, Dailywin is a Hong Kong-based watch manufacturer specializing in digital and quartz watches, and watch accessories. Dailywin has manufacturing and exporting operations in over ten countries across North American, Europe and Asia.
Critical Issue
The President found that their market demand for personalized products was rapidly increasing, and they were too slow to incorporate new client requirements into their product line. After further investigation it became clear that manual processes and poor data quality caused mistakes and rework throughout product development life cycle. In addition, the sales team needed a way to stay closely connected and effectively collaborate with the business while traveling internationally.
Solution Needed
To grow market share and improve margins they needed to shorten cycle times on their core business processes (product development, manufacturing and distribution). The Dailywin leadership wanted a single system to automate customer and sales processes and connect them with downstream manufacturing and production processes. They believed all departments require consistent information and visibility across the product development life cycle to eliminate defects, rework and improve accountability. The system had to be web-based so the sales team could collaborate and track performance from anywhere around the world.
We Provided
WisageTech consulting services and 8Manage CRM software helped Dailywin achieve these goals.
Result
• Integrated marketing, sales, product development processes to achieve real-time business management and shorten concept-to-delivery time for personalized product samples
• Increased revenue growth over 15%
• Average sales cycle decreased by 10 days
• Client product and service satisfaction ratings averaged over 95%
