One of the best decisions Illinois Mutual Life made for our Hispanic Marketing Initiative was to hire Terry Soto as a consultant. Her complete involvement with our leadership and personnel was detailed and planned in every way with careful thought on how each department was impacted. Through her leadership, we now have the right strategy, organization, competencies, and infrastructure and have successfully launched our initiative. It’s been great working with Terry as a business partner and as a friend who’s had our best interest at heart.
Stephen J Kershaw CLU ChFC, Senior Vice President Sales, Illinois Mutual Life, Illinois Mutual Life
- Revised distribution channel strategy based on correct definition of the brands Hispanic target consumer saving the client significant time and financial investment.
- Defined client’s most profitable consumer target leading to improved alignment with the company’s growth platforms and improved sales and retention performance.
- Avoided unnecessary distribution expansion in high Hispanics areas after identifying that stores in high Hispanic areas were losing money in spite of high traffic and sales activity.
- Overcame the client’s challenge at not being able to hire qualified Bilingual Hispanics by defining a more targeted sourcing, application, qualifying and hiring process.
- Identified the relationship between higher than average revenue stores and high concentration of specific Hispanic customer segments in the client’s trading areas and identified several hundred more stores with similar demographics where efforts could be align to capitalize on this consumer profile.
- Identified high and low indexing product assortments and helped client optimized inventory mix in a significant number of their stores significantly increasing revenue and leading to more efficient inventory management.
- Helped client fix customer service center weaknesses leading to better telesales results and increased repeat business.
- Helped client identify market opportunity and develop business plan for non-bank financial services business which rolled out to three states and generates billions of dollars in revenue today.
- Helped client identify the opportunity of a new beverage product which is now successfully positioned and is sold across retail stores and bars in much of the country.
- After examining the market’s geography, the client’s location, freight costs and go to market logistics, we saved the client millions of dollars by recommending against a manufacturing an unprofitable business venture.
- Saved the client millions of dollars by recommending against targeting Hispanics with a packaged goods product which does not align with Hispanics’ meal preparation and flavor preferences.