SaaS company implements a scalable, growth-oriented sales model and expands into adjacent markets.
THE CHALLENGE: The company was looking for help to mitigate the following key growth inhibitors:
- The company had a leadership position with predominant share of a mature target market for its core product and had little room to acquire new logos
- Its sales team was trained and equipped to sell single product with focus on feature/function selling
- Through a recent acquisition, the company was operating with two sales teams selling to the same target buyer
- The sales compensation plan was meant to incentivize sale of core product
THE SOLUTION: The solution involved-
- Complete redesign of the sales coverage model
- New value-based sales methodology and supporting sales process
- Sales playbook to drive sales execution
- Redesign of territories by making them equitable and efficient
- New sales compensation model to drive the right behavior in support of corporate revenue goals
- Unlocked new target segments that more than doubled the addressable market
- Improved win-rate by 60 percent
- Increased average deal size by over 100 percent
- Grew sales pipeline size by 30 percent to hit record level
- Reduced new hire ramp up time from 6 to 9 months to 3 months
Fintech company gets forecast within +/-5 percent deviation.
THE CHALLENGE: The company was consistently missing its revenue guidance to the board. There were frequent instances of over 25 percent variation between the forecast and actual revenue.
The company was operating a forecast process that used offline spreadsheets, poorly defined forecast criteria, weak review template design and a lack of consistent forecast review cadence.
THE SOLUTION: The solution provided:
- A system generated feed of real time sales data
- Clearly defined three stage forecast categories
- Template redesign to make the review process action oriented
- Well defined cadence of forecast review- frequency and attendees
- The company significantly improved its forecasting capabilities by staying within +/-5 percent of forecast
Tech-enabled mortgage services company drives deal velocity, increases win-rate and expands deal size.
THE CHALLENGE: The company’s sales methodology and sales process were misaligned with how the buyers wanted to be sold causing prospect management as well as opportunity management to be inefficient.
THE SOLUTION: The solution was developed and implemented using a three step approach-
Step 1: We worked with sales and marketing leadership along with a small group of sales reps to develop a three tier customer segmentation model. Each segment was defined based on four key questions:
- What is the degree of complexity of the needs of the buyer organisation?
- What is the size of their wallet?
- How do they like to buy- point products vs, integrated solution?
- What is their view of technology?
STEP 2: Developed a consultative selling approach with focus on value-selling. A sales process that supported the sales methodology and provided clear outcomes for each stage of the sales process was also developed.
STEP 3: Developed change management plan that included-
- Content for training
- Changes to Salesforce.com to include the new sales process
- An all-sales workshop to roll-out the new sales methodology and sales process
- A coaching session for sales management on driving adoption of sales methodology and sales process
- Reduced average sales cycle time by 20 percent
- Improved win-rate by 55 percent
- Increased average deal size by over 40 percent
Leading enterprise management software company transitions over 2,000 sales users from a highly customized and inflexible legacy CRM system to Salesforce.com.
THE CHALLENGE: The company was operating its global sales organization using a highly customized and inflexible legacy CRM system. Driving adoption of the system was difficult due to poor usability. Additionally, because of system complexity, making changes to territories and account assignments took much longer causing a drag to speed of doing business. Finally, low system adoption made generating pipeline and forecast data a manual exercise.
THE SOLUTION: Transition plan to Salesforce.com used the following design principles-
- User friendly layout
- Minimum clicks
- Drive adoption of sales process
- All pipeline and forecast data to be system generated
- Facilitate quick changes to territories and account assignments
- Full adoption of Salesforce.com by sales users
- Transition resulted in zero disruption to business
- Complete elimination of offline spreadsheets to conduct pipeline and forecast reviews as sales management moved to using Salesforce.com