RIDE THE WAVE PROCESS – CASE STUDY #1
- Problem: A client organization was experiencing a 2-year sales plateau and facing increased challenges within a highly competitive market. The company was also exploring questions around how to grow their business, but keep employees engaged and committed to the organization long-term. Due to the harsh market conditions and a lack of engagement amongst the sales organization, the company experienced high employee turnover and lost sales leads through a fragmented marketing to sales system.
- Opportunity: Due to a lack of engagement amongst the sales organization, the company missed sales leads generated through a successful online marketing system and was concerned that the missed sales could slow future growth, continue to lead to poor sales performance and continued sales representative turnover. We recommended an Inside Sales team be added to the process to qualify leads before they were passed along to sales.
- Strategy: While working in collaboration with us, the organization also expressed a need for a new sales hiring profile that better fit their needs for future growth and a sales competency model that provided further clarity regarding roles and responsibilities. We developed a new compensation structure to provide an equity-share to long-term employees and as a solution to recent employee attrition.
- Solution: We presented competency and hiring models from other industries that would fit the organization’s needs. Based on the recommendations, an updated hiring profile and new sales competencies were developed that provided clarity in terms of who the organization wanted to hire for the future and what would be expected from the new and current employees in terms of performance, required training initiatives and day-to-day operational duties.
- Result: The organization implemented the new competency model that provided clarity around how the organization hired, trained and managed new employees as well as sales performance expectations focusing on new growth for all sales representatives. New hires to the organization are now receiving a compensation package that includes a base salary and also new reoccurring training per the new competency model. As a result, the organization experienced a 25% increase in sales results compared to the previous year.
- Follow-Up: Additional work included a market segmentation and rebrand to better align with customers in a higher end or premium market that had not been targeted as well as sales training initiatives that were conducted on a quarterly basis to support the new competency model.