A regional internet service provider in business for 27 years faced significant challenges with declining revenue and high employee turnover in their sales department. Despite their longevity and market presence, the company recently encountered hurdles that threatened its financial stability and operational efficiency.
The regional internet service provider was grappling with a trend of declining revenue. This was compounded by a high rate of turnover in their sales department, leading to:
- a loss of experienced sales talent,
- inconsistent sales performance,
- and a diminished ability to recruit new customers.
The company needed a revitalized approach to sales training and management to regain its footing in the competitive technology industry.
The regional internet service provider turned to StratEX Sales,LLC to devise a solution and implementation of three key initiatives:
- RAIN Training Program: All sales staff were enrolled in the RAIN Group’s training program, providing them with skills and tools to enhance their sales techniques along with regular coaching sessions.
- Weekly Sales Meetings: Weekly meetings were established to foster communication, align goals, and set actionable targets. They encouraged accountability and continuous improvement.
- Metrics and Tracking Protocol: A system was developed to track and report on key performance metrics, allowing the team to assess the impact of the training and continuously refine their approach to sales.
The results were nothing short of transformational:
- Increased Customer Acquisition: The close rate soared from 25.15% to 44.09%, resulting in a surge of new customers from 49 to 87 per month.
- Stabilized Sales Team: With enhanced training and a supportive framework, staff turnover in the sales department stabilized, reducing recruitment and training costs while maintaining institutional knowledge.
- Improved ROI: They now know the lifetime value of every new customer, and the OVPS significantly increased the number of new customers each month in a short amount of time.
By addressing the root causes of their sales challenges and implementing targeted training and management strategies, the Outsourced VP of Sales was able to analyze the specific issues affecting the team’s performance. As a result, they not only successfully reversed the decline in revenue but also established a more cohesive and motivated sales team.
"Hiring Greg had a very high ROI. We know the lifetime value of every new customer and he helped us get significantly more new customers, every month, in a short period of time."
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