Customer Revenue and Profit Forecasting Tool

Market research and resulting customer revenue and profit forecasting tool resulted in increased product sales.

background

• $3B market leader in vision care products
• international vision care division sales were lagging
• contact lens manufacturers were having difficulty gaining market share partly due to eye care practitioners’ (ECP’s) belief that glasses provide significantly more revenue with fewer hassles

client challenges

• understand the economics of vision correction options from perspective of ECP
• utilize insights garnered to increase sales of multifocal contact lenses (MFCLs) in Canada and the United Kingdom

methodology / analyses

• qualitative in-depth interviews with clinicians
• quantitative online surveys with clinicians

results

• detailed understanding of eye care practice glasses vs. MFCL revenues and expenses for presbyopia
• insight into potential profits from presbyopia patients vs. other patients
• development of custom, proprietary revenue / expense forecasting tool allowing sales reps to model different economic scenarios for optometrist / optician customer
  • tool provided solid economic rationale for MFCL prescriptions as well as reasons for sales rep return visits
• accounts exposed to forecasting tool increased MFCL purchases 2-5x