This title makes me a laugh a bit. Awhile back I brokered a deal that merited just that: 2 new jobs, a > than 40% reduction in marketing expenses, and 3 broken processes melted down into 1. In an earlier post I promised a story a of jump-starting growth in a clients marginalized business. Well, here it is….
Disclaimer- this was super rewarding to source this project and actually land it. From day 1, the client and I shared the same vision for his company.
Let’s jump in. Some time ago, one of my Google alerts informed me a prospect had scored a new VP of Marketing. Jumping to the clients website, I researched the VP’s background and bio, scoured his social profiles, double checked the company news and reviewed the success stories I had with similar clients. I decided to pick up the phone and give him a call. I thought for sure I’d be getting voice-mail. WRONG. The phone didn’t even ring and he picked up. To make a long introductory paragraph short, my prospect picked up, I introduced myself and congratulated him on his newly appointed position. I then went on to ask about his departmental priorities. I told him I figured as a new VP, he’d be sourcing methods to cut costs and grow marketing revenue. He said by golly- that’s exactly what he planned to do. I then proceeded to inform how one of his competitors used my software to increase customer order value and reduce the time to customer repurchase. He liked what he heard, and we agreed to meet.
During that first meeting we talked at length about challenges his organization faced. As I learned, his company was family ran and doing business one way for a very long time. He was brought into the organization because sales were stagnant. The Board realized that if the company didn’t act differently, their run rate would dry up, layoffs would happen, product lines would have to divested, etc etc. So they decided to bring in a marketing guru to help accelerate growth.
Turns out, they outsourced their marketing services and spent a boatload of money doing so. Together, we determined if they brought services in-house, they would save a significant amount of budgeted capital. They could reinvest opex savings into new technology and to support the growth mission. And that’s exactly what they did. The company took this initiative to RFP, but because my company approached him first and helped generate the in-house strategy, we essentially earned his trust and ultimately his investment. As a result- my prospect reduced his OPEX by $415K annually, hired 2 new people, merged 3 processes into 1. Today they operate leaner and more efficient that in the past. They’ve also recognized close to a 20% uplift in sales. And to add a cherry, 10 months after deployment, the cost of my software and the salaried employees who operate it, has been paid for via the uptick in sales revenue.
Like I previously mentioned, a good sales rep will figure how his solution makes an impact in the strategy & direction of his prospects business. He may even go as far as to make assumptions how his solution will impact his client’s internal KPI’s. As us in sales know, not all sales will be like the one outlined here, but we certainly can influence similarity.
Next topics: proactive vs reactive sales reps and difference between sales & busdev. Stay tuned.