“Premonio’s experience, process, and tools helped us develop a deeper understanding of our business and develop a plan to accelerate our growth.”
VirtualPBX Wins with Premonio
- 30% projected YoY revenue growth
- 4 consecutive months of surpassed revenue goals – and counting
- Smarter planning with Premonio’s Sankey, Budget Optimization, and KPI tools
VirtualPBX is a private branch exchange provider serving both remote and in-person professional teams across a wide variety of business areas. After partnering with Premonio, they were able to turbo-charge their growth through smarter revenue planning and more targeted optimization.
Challenge: Make a Clear Plan for an Ambitious Goal
The leadership team at VirtualPBX had set an ambitious goal for year-over-year revenue growth from 2021 to 2022. But although they had a steady stream of incoming business on the strength of a powerful product suite and strong service, monthly metrics showed they weren’t growing as fast as their goal demanded. If they were to hit their target for the new year, something would need to change.
The issue had nothing to do with their team’s sales acumen or their product, but instead stemmed from a lack of early visibility into the kind of resources, time, and personnel they would need to hit their goal. During the planning stage, they had relied upon homegrown spreadsheets, but these were insufficient for handling the myriad factors and variables they would need to account for to stay on track. They had also partnered with a software vendor, but had a negative experience both with the product and with that company’s leadership.
Solution: Partner with Premonio
The team decided to leverage Premonio’s Growth Architecting system, combining the “GOALS” tool and consulting services to kick their revenue growth into a higher gear and create a comprehensive implementation blueprint toward their 2022 goal. One of the resources they leveraged was Premonio’s budget optimization tool, which projects what a team’s budget will produce under current conditions and practices, shows the maximum the budget could produce if optimized, and prescribes the specific optimizations necessary to achieve that maximum.
In the budget optimization stage, VirtualPBX discovered they could additionally increase their revenue by revamping their lead generation model – in particular, by reducing their investment in SEM and reallocating those funds to LinkedIn-based lead generation and organic inbound efforts. They used Premonio’s Sankey graphical output to map out, in detail, how much they would need to take out, or put into, each channel, and how that would impact their revenue.
Once the changes were in place, the team used Premonio’s KPI tool to ensure that if any further optimization were necessary, they would know quickly. The tool enabled the team to pull early-funnel leading indicator metrics that would illuminate specific problems, such as an underperforming lead channel or lower-than-expected conversion rates, while it was still early enough in the quarter to fix them and get back on track to hit their number.
Results: Record-Setting Growth
VirtualPBX implemented Premonio’s growth architecting system in June of 2021. In the many months since then, they have not only hit, but surpassed each of their monthly targets. In fact, in every month since June, they have set a company record for monthly revenue, through a combination of net-new business and renewals from happy customers.
“Premonio’s experience, process, and tools helped us develop a deeper understanding of our business and develop a plan to accelerate our growth,” said Lon Baker, Chief Operating Officer at VirtualPBX. “Premonio’s team was incredibly talented and focused on helping us achieve our accelerated goals. Overall, Premonio is unlike any company I have worked with in the past and we will leverage their offering moving forward.”
So far, the company is tracking to grow more than 30% this year, and are well on their way to 50%. This shows the power of using growth architecting to back up revenue forecasts with clearer visibility, better accounting for variables, and more granular planning.
VirtualPBX develops powerful communication solutions for SMBs through Voice, Video, and SMS. Enjoy professional features like Auto Attendant, Ring Groups, Zapier Integration, and full-featured Web Phone with every plan. Upgrade to Video Calling, Business SMS, Call Recording, AWS External Storage, and more as needed. VirtualPBX supports office phones and personal devices in all its phone plan features. Award-winning SIP Trunking and networking services are also available from this San Jose-based business. Learn more about VirtualPBX here: https://www.virtualpbx.com