Executive Summary
A manufacturing company, in business for 45 years, needed to clearly define their strategy and put the structure in place to grow revenue. The sales team did not have a defined process and lacked goals and quotas. By bringing in an experienced VP of Sales, the tools were created and implemented to make the sales team productive and accountable.
The Big Win
Increased sales from $20 million to $28 million in one year and GP% +18%.
Challenges
- Lack of leadership or accountability
- No metrics, goals, quotas or forecast
- Limited use of a CRM
- Sales team not proactive
- Limited follow-up by sales team
Solutions
- Transitioned the Sales Manager and hired a VP of Sales
- Developed forecasting tools and methodology
- Completed first 4th quarter rolling forecast
- Implemented first variable compensation plan
- Established best practices for:
- Weekly sales team meetings (one-on-one individual meetings)
- CRM usage
- Client follow-up
- Time-to-quote
- Phone and email communication
- Implemented a team “covenant” on how each member will work with and treat other members with an accountability requirement
Sales Xceleration brought in the structure and strategy the group needed to be successful! They were different from other consultants in that they took full ownership right away, including pushing back on other executives and company owners. They didn’t simply bring a canned process for everyone to follow; tools and techniques that suited our unique situation were chosen. The efforts were key in our company turnaround.
Results
- Created a highly functioning and effective sales team
- Implemented a minimum 30% GP model for all products without significant loss of clients or revenue
- Implemented dashboards for significant metrics that were visible to entire sales team as well as Corporate and Divisional management
- Implemented a VOIP phone system to track calls, add to CRM and increase efficiency
- Hired an additional outside salesperson
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