Executive Summary
The sales and employees of a privately-held company in the banking industry were not performing as well as forecasted. There was not a defined sales process, leading to lack of direction and employee conflict. The owner knew these issues needed to be resolved, but it was not her expertise, which is when a Sales Xceleration consultant was brought in to help.
Client Overview
Starting Revenue: $8 Million
Ending Revenue: Not Disclosed – Increased by 20%
Staff Members: 15
The Big Win
Revenue increased by 20% and sales costs were reduced by 35%
Challenges
- Sales team would not follow the owner’s direction
- #1 revenue-producing salesperson caused a great deal of conflict, ruining morale
- Sales team did not work effectively with other departments
Solutions
- Terminated 5 non-performing sales people, including the #1 revenue-producing salesperson
- Hired two salespeople that were a better fit for sales expectations and company culture
- Redefined sales process, which led to clearly understood actions by all departments
- Instituted a new sales process that required each department to document and approve their deliverables
- Conducted weekly one-on-one sales meetings with sales representatives
- Created sales metrics and forecasting model to improve visibility and accountability
- Developed new compensation plans that incented behavior the Owner was seeking
Sales Xceleration came in and developed a new plan for the organization, which created a positive work environment through refined sales process and key personnel changes.
Results
- Revenue increased by 20% with a much smaller sales team
- Sales costs were reduced by 35%
- The organization now only processes deals that are consistent with its capabilitites
- Turned a reactive culture into a proactive one
- Owner no longer feels like a “firefighter” and enjoys leading an organization with a postive culture
Ready to achieve your sales and revenue goals? Take our 10-question Sales Agility Assessment to see where you may have sales gaps.
Related:
Air Purification Systems: Building Sales Infrastructure to Expand into a New Channel
Food & Agriculture: From Declining Sales to Exceeding Revenue Growth
Office Supply/Furniture: Creating a Sales Infrastructure Leading to Increased Revenue
Heating and Cooling: Increased Growth & Reducing the Sales Cycle to Improve Performance