Case Study #7: Market Going Flat
The CEO of a small telephone-systems company was looking for a way to stand out in a sea of competitors in a market that was going flat.
We took a close look at the company's strengths, its ideal client profile, and its sales reps' ability to position and sell at an executive level. What we discovered was that they had a unique advantage over their competitors in the region as well as a very clear concept of their ideal client profile. We were unsure if their reps could sell at an executive level, but they were hungry and coachable so they had a good foundation to work from.
We came up with a powerful approach to get the sales folks in the door at an executive level. Then we developed an educational executive presentation to highlight business issues and focus on the target executives' frustrations. After a few weeks, we were getting the first meeting at the executive level but were then delegated to other people in the company for a follow-up meeting. So we added a compelling no-risk guarantee and a few additional selling skills to turn the delegation meeting into an implementation meeting.
In the first six months, sales went up 50% with an additional forty-three systems sold. Based on the guarantee they had to refund one system which they turn around and sold on the used market for a tiny profit including the de-installation labor cost.
The Common Mistake
Most companies don't recognize their strengths or know how to leverage them to create a huge selling advantage for themselves. Even in a flat market, performing a market analysis, refocusing sales efforts, and taking a little coaching can yield significant gains!