SOAR Success Story:
When faced with a changing market, organizations need the right go to market approaches, supporting processes and skills in order to drive growth.
A Fortune 500 imaging and technology company wanted to generate more revenue from its software and service businesses. The company had recently divided the software and hardware divisions into separate business units in order to drive growth in the market.
To capitalize on this opportunity, the company was launching a new channel partner reseller to help drive software sales. A deployment model was launched for the new software that included analytics and cloud-based tools. These new offerings could not be sold in the same way that the previously emphasized hardware applications could. The company recognized that capturing new opportunities in this space would require a shift in the sales process, not only to sell a new kind of product but to communicate a new kind of value message.
To evaluate the current sales environment within the new unit, SOAR ran a diagnostic test across the salesforce to determine what had been working and where there were gaps in the process. From this insight SOAR deployed a new sales process focused on the new software. To support this new process, coaching modules were created for managers in conjunction with a skills development session focused on value selling for sales, pre-sales and product marketing teams.
During the value selling sessions, account managers were able to define the value proposition based on real customer experiences and discover best practices for communicating the value message.
60 days after the deployment of the process the client saw an additional $1.5 million in incremental pipeline opportunities over 20 account managers.