Revenue: £330M
Employees: 1,100

Client Challenge

Affymetrix faced a turbulent market environment. Given downward cost pressures in the genetic research market, global economic uncertainty, and increased competition, the company’s revenue fell from a high of $330 million to $267 million in four years. Affymetrix recognized the need to change its go-to-market strategy and improve the value it brings to its customers in multiple and diverse markets.

Solution

Affymetrix wanted to transform the behavior of its salespeople and how its entire commercial organization interacted with customers. Affymetrix began its transformation by developing Challenger messaging for key market segments and products. These messages focused on insight as the compelling lever to force customers away from their status quo.

Affymetrix conducted global training in North America, EMEA, and Asia across a matter of weeks and immediately implemented both manager and individual coaching and messaging support.

Results:

Under the direction of its new chief commercial officer, Affymetrix invested heavily to make its Challenger transformation a sustainable effort. The company selected a dedicated, internal Challenger champion who immediately took control of continued message development, refreshing skills, and training new hires. The company also created an internal Challenger website to consolidate messages, highlight case studies, and recognize star performers.

Roughly one year after the training events, Affymetrix began to see a turnaround in its revenue performance. Bolstered by a timely acquisition, the company bounced back to $330 million in revenue and trended upward. Affymetrix beat Wall Street estimates, performed closer to its industry peers, and improved overall energy and morale. As a result, the Company’s stock price doubled.

Quotes

“The Life Science market is very complex on a number of levels, which means that the effective creation and use of insights are of particular value.”

David Weber, Former Vice President and CCO

Before Challenger

  • Stock price of $4.31



After Challenger

  • Stock price of $8.66