Company Profile
A regional internet service provider in business for 27 years faced significant challenges with declining revenue and high employee turnover in their sales department. Despite their longevity and market presence, the company recently encountered hurdles that threatened its financial stability and operational efficiency.
Sales Success Snapshot
Increased sales close rate from 25.15% to 44.09%
Customer acquisition increased by 77.55%
Employee turnover decreased significantly after implementing new communication and training strategies
Challenges
The regional internet service provider was grappling with a trend of declining revenue. This was compounded by a high rate of turnover in their sales department, leading to:
- a loss of experienced sales talent,
- inconsistent sales performance,
- and a diminished ability to recruit new customers.
The company needed a revitalized approach to sales training and management to regain its footing in the competitive technology industry.
Solutions Strategy
The regional internet service provider turned to a Sales Xceleration Outsourced VP of Sales (OVPS) to devise a solution and implementation of three key initiatives:
- RAIN Training Program: All sales staff were enrolled in the RAIN Group’s training program, providing them with skills and tools to enhance their sales techniques along with regular coaching sessions.
- Weekly Sales Meetings: Weekly meetings were established to foster communication, align goals, and set actionable targets. They encouraged accountability and continuous improvement.
- Metrics and Tracking Protocol: A system was developed to track and report on key performance metrics, allowing the team to assess the impact of the training and continuously refine their approach to sales.
Results
The results were nothing short of transformational:
- Increased Customer Acquisition: The close rate soared from 25.15% to 44.09%, resulting in a surge of new customers from 49 to 87 per month.
- Stabilized Sales Team: With enhanced training and a supportive framework, staff turnover in the sales department stabilized, reducing recruitment and training costs while maintaining institutional knowledge.
- Improved ROI: They now know the lifetime value of every new customer, and the OVPS significantly increased the number of new customers each month in a short amount of time.
Outcome
By addressing the root causes of their sales challenges and implementing targeted training and management strategies, the Outsourced VP of Sales was able to analyze the specific issues affecting the team’s performance. As a result, they not only successfully reversed the decline in revenue but also established a more cohesive and motivated sales team.
Utilizing an Outsourced Vice President of Sales (OVPS)
For organizations looking to tackle similar challenges and drive growth, Sales Xceleration provides customized solutions tailored to each business’s needs. By partnering with an Outsourced VP of Sales, the regional internet service provider accessed valuable sales leadership expertise, enabling them to effectively navigate complex sales challenges without the overhead costs of a full-time executive. With the right training protocol in place, the CEO/Sales Leader is now able to ensure each member who joins the team has consistent training. The KPIs set will be continually evaluated to ensure the team is focused on the right metrics to drive the organization forward.
Testimonial
The Sales Xceleration Advisor received glowing feedback from the CEO for their strategic execution:
Hiring Greg had a very high ROI. We know the lifetime value of every new customer and he helped us get significantly more new customers, every month, in a short period of time.
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