MAXIMISING PROFIT

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Demonstrated success

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A sales pulse + Goals & Objectives (G&Os) + reward program

 

What

• Created a G&O program including sales, pipeline, collaboration and professional growth goals

• Introduced a reward scheme tied to the G&O program, including short-term non-monetary incentives and minimal discretionary payouts

How

• Worked alongside senior management and collaboratively with the sales team to create the G&O program - including quarterly reviews

• Sought commitment and created internal alignment to rollout a new reward scheme

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Challenges

• Working in an environment with minimal performance management history

• Getting senior management commitment to reward performance differently

• Getting buy-in from the sales force considering history of discretionary payments

 

Results

• Created measurable KPIs and goals which improved moral, provided direction, increased transparency and alignment (removed the grey) within the business

• Created a friendly competitive culture in part through non-monetary rewards

• Delivered 125%+ performance against sales budget

 

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Total Economic Value (TEV) selling technique

 

What

• Successfully used the TEV selling technique to promote a heavily engineered support solution that cost up to 50% more than competitor’s products

How

• The positive differentiation value was linked to the strength of our solution allowing the customer to purchase less additional supporting material from a third party.  Therefore, reducing the total cost of ownership (even though our products were x1.5 more expensive)

 

Challenges

• Getting to the right decision makers

• Educating and convincing the buyers (calculators and case studies)

 

Result

• Multiple projects won and delivered over 30% YOY revenue growth two years running

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Brand awareness + influencing strategy

 

What

• A long-term specification strategy designed to influence the influencers

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How

• Analysed the target market and identified a key group of influencers who we were not currently dealing with.  I then created a business development plan to build relationships, increase our brand awareness and promote our solution’s competitive advantage (why they should specify our product over the competitors)

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Challenges

• Directly linking our efforts with results (ROA = shift goal down from Results to Objectives)

• A new target market with different needs for our sales organisation

 

Result

• Built strong relationships with large network of influencers

• More than doubled brand specification delivering additional revenue of over $1million after the first year

 

 

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Negotiation training

 

What

• Tender renewal from a 10+ year old longstanding customer with a recently hired General Manager (GM) focused on cost reduction

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How

• The GM hired a third-party procurement expert who went to market and indicated our price was more than 10% higher than the competition

• We understood our walkaway price, knew the value (value proposition / TEV) we had to offer and were not afraid to ask for a commitment

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Challenges

• New decision maker (GM) with a focus on cost and a point to prove

• New external influencer

• New relationship with both the GM and the third-party influencer

 

Result

• Retained the business at a 3% premium

Whether it is creating a performance culture, reward scheme or business development strategy Pin Consult can help you maximise your profit through sales force effectiveness.

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Programs

• Creating a team pulse

• Performance management

• Pipeline management

• Goals & Objectives (G&Os)

• Reward schemes

• Transactional sales models

• Sales promotions

• Tender response framework

• Selling Total Economic Value (TEV)

• Value propositions & elevator statements   

• CRM analysis

• Customer Insights

• Growth versus fixed mindsets

• Leading versus lagging indicators

• Activity based sales management models

• Negotiation techniques

• Presentation skills