How can we explain the sudden 30% decline in new client acquisitions for GLG's survey services in the past month?

Introduction

The sudden 30% decline in new client acquisitions for GLG's survey services in the past month is a critical issue that demands immediate attention. To address this problem, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both short-term and long-term implications.

Step 1

Clarifying Questions (3 minutes)

• Considering the timing, I'm wondering if there have been any recent changes to our survey platform or pricing structure. Have we implemented any significant updates or modifications to our survey services in the past 1-2 months?

Why it matters: Recent changes could directly impact client acquisition. Expected answer: Yes, we updated our survey platform UI last month. Impact on approach: If confirmed, we'd focus on usability and onboarding issues.

• Looking at the client base, I'm curious about the distribution of this decline. Is the 30% drop consistent across all client segments, or is it more pronounced in specific industries or company sizes?

Why it matters: Helps identify if the issue is global or segment-specific. Expected answer: The decline is more significant in small to medium-sized businesses. Impact on approach: We'd investigate factors specifically affecting SMBs.

• Considering market dynamics, I'm thinking about our competitors. Have we noticed any significant changes in competitor offerings or marketing strategies during this period?

Why it matters: Competitive pressures could be drawing potential clients away. Expected answer: A major competitor launched a new feature set last month. Impact on approach: We'd analyze our value proposition and market positioning.

• Reflecting on our sales process, I'm wondering about our lead generation and conversion funnel. Have we seen any changes in the number of leads or conversion rates at different stages of the funnel?

Why it matters: Pinpoints where in the acquisition process we're losing potential clients. Expected answer: Lead volume is stable, but conversion rates have dropped. Impact on approach: We'd focus on optimizing the conversion process and messaging.