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DRIVE REVENUE GROWTH IN STRATEGIC INNOVATION PRODUCTS
While new solutions provide growth opportunities in a changing market, a new selling approach is often required to drive sales of the new offerings.
In the case of the client, the launch of new products required a different engagement approach to support the shift from the older technology to the new.
Innovation Leadership
Innovation Selling
Situation
Upon evaluation of their primary market, SOAR’s client, a multinational software company, recognized that their customers were moving away from traditional buying patterns leading to a change in the way people were doing business.
This change included a shift from on premise solutions to more cloud-based capabilities.
Opportunity
As the market for old solutions continued to shrink, the company saw the opportunity to generate more business and better serve their customers through a new portfolio of products.
The new product offerings would require a shift from the traditional solution-selling mindset to one that explored new ways of doing business for their customers.
Approach
First, SOAR worked with the Global Sales Enablement department to identify the approaches, skills and behaviors that would drive success in the new product areas, based on a customer centric view of innovation.
SOAR then conducted an innovation assessment which diagnosed the company’s current selling environment and where they were in alignment with their goals.
To make the transition to a new way of selling a success, SOAR designed a program that would enable the company’s leaders to lead the change.
The program included an instructor led session in which leaders were given the tools and training to drive a new, innovation focused sales culture within the organization.
Following the session, the leaders returned to their teams to deploy a supporting program designed especially for sales representatives.
Result
Within a year of the initial roll out of the program, the client experienced an increase in bookings of 103% indicating a successful adaptation of innovation selling throughout the company.