CASE STUDIES / HYPERIKON

How Hyperikon multiplied their b2b sales and reduced their deal closing time with Net Terms automation

Started in 2010, Hyperikon has grown from humble beginnings to a provider of 250+ LED products and e-commerce brand with almost 1 million customers on Amazon and their own website.

The brief
When the leadership team at Hyperikon set out to grow their wholesale LED lighting business, they envisioned a truly seamless B2B buying experience for their business customers with Net Payment Terms.
Hyperikon's business customers were being forced through a difficult and lengthy credit approval process: long multi-page applications, paper and fax based processes, and multi-week decision timelines. Hyperikon wanted to change that and deliver a frictionless, customer-first approach.
Previously, Hyperikon tried offering a cumbersome deposit payment program with their customers, rather than the ease of buying now and paying later. But they wanted to give credit terms to buy wholesale seamlessly.
The solution
Hyperikon embedded Resolve's online application into their website and worked with Resolve team to launch marketing campaigns to drive new and repeat sales.
90% faster sales cycle
Through Resolve's online credit application, customers were being approved the same business day. For buyers, this meant no more paper or fax applications, waiting for weeks to hear back about a credit decisions, and no more up-front deposits.
3x average order size (AOV)
With higher credit lines offered through Resolve, Hyperikon wholesale customers also increased their orders to 3x their previous size to reach the bulk discount rates, a huge win for Hyperikon's growth goals.
1.5 more closed b2b sales
In just about a few quarters, the company’s wholesale business had rocketed from a small base of buyers to countless business customers and glowing wholesale customer feedback.
"Resolve has been like a spring... allowing us to grow and scale your B2B business more quickly than any other company. It's been a catalyst to faster and better growth for us."
Ray Gil
Account Executive at Hyperikon

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