Economia, one of the largest media houses in the Czech Republic, which produces Hospodářské noviny, Ekonom and Respekt magazines and a range of other titles on a daily basis, both in print and digital form. Economia continues to operate the news servers HN.cz, Aktuálně.cz, Respekt.cz and many others. Economia a.s. was founded in 1990 and has grown into a company with 450 employees.
Economia's sales team of over 60 people is responsible for all the company's business communications. These sales representatives help clients put together comprehensive solutions to promote their products or services. The main tasks of these professionals are managing their assigned portfolio, acquiring new clients, identifying new business opportunities, independently managing and closing deals, and providing advice and consultation in the areas of online and print promotion. Their role requires the ability to maintain quality and long-term relationships, as well as the ability to communicate effectively.
David Voracek as one of the board directors took up the role of Sales Director at Economia in October 2022, returning after 4 years. His first task was to gain a deeper understanding of how the team operates so that he could identify areas with potential for improvement. As the team operated exclusively in a digital environment through the Google Workspace platform, he came up with the idea of exploring the workings of the organisation through collaborative data. To do this, he used the Time is Ltd. platform, specifically its Sales Analytics product.
The results of using Time is Ltd's Sales Analytics:
- Client Revenue growth 30%
- 100 % increase in external communication (time spent with clients): After nearly 3 months of using the Time is Ltd. platform, the time spent communicating with clients almost doubled for the teams analyzed.
I recommend Time is Ltd's solution to all firms looking to better navigate client communications and improve business results. Thanks to Time is Ltd we have been able to increase our team's turnover in the direct client segment by an incredible 30%,
said David Voracek, Board Director also responsible for Sales at Economia
Time is Ltd. is one of the first reports I open on a Monday morning. It allows me to regularly review where we've moved last week, and it's also great preparation for the week and 1:1 meetings with leaders.
David provided Time is Ltd with access to collaboration data and specified the business teams that would be part of the analysis. He was able to access the first report for the last 12 weeks on the same day. This report gave him an overview of the clients that were a priority for the team and he came up with some quick solutions on how he could improve communication. He discussed his findings with the team leaders who took it upon themselves to translate the ideas into practice.
After initial validation, David decided to provide the tool directly to the team leaders. They are now actively using it to identify which clients need more attention, who needs to be emailed a response, or which client they haven't met in a while. Every Monday morning there is an automatic update of the reports by Time is Ltd, so team leaders are always in the loop.
With Time is Ltd, the sales team also gain visibility over how they organise their internal time and meetings, allowing them to increase the effectiveness of internal communication.