Sales Growth Against All Odds

THE CHALLENGE

  • Increase sales in the face of a 3-year recession in which the industry plunged 16% a year and key channel partners were down as much as 45%.
  • Grow three commodity product lines and with virtually no marketing budget.
  • Build sales profitably.
  • Achieve growth for product lines that:
    • Were mature, industrial and commercial products.
    • Were commodity lines generally driven by price.
    • At best, were C-line products for channel partners.
    • Were the first product lines whose purchase was “delayed” in tough times.

STRATEGY

  • Remain calm.
  • Identify specific needs of customers and channel partners.
  • Understand why the purchase of these products was delayed despite a need.
  • Understand thoroughly how the products are specified and sold.
  • Develop a value proposition that would support a purchase now rather than later.
  • Enhance a service offering as a means to protect the integrity of a price structure.
  • Revamp promotions to reflect all of the above.

RESULTS

  • 6% growth in each of the 3 years of the recession:
    • Division sales hit $70 million by end of 3 years; highest sales ever.
    • Only division in global company to grow during the 3-year period.
  • 22% growth in the product lines; from $27 million to $33 million
  • $6 million incremental sales with custom catalog for key distributor.
  • 16% growth in quality leads after refocusing product positioning.
  • Key driver in the above results was a reward program targeted to inside sales reps; research showed that 75% of all brand decisions for C-line products made by inside sales.
  • Launched training programs that transformed customer service group:
    • Reduced abandoned calls from 9.5% to 1.8%; averaged 750 calls per day.
    • Became  go-to “consultants” on products, codes and applications.
    • Developed the ability to close sales as well as consult on key issues.
  • Held the line on price – no increases, but no decrease either.

 

WHEN YOU’RE READY TO GROW SALES REGARDLESS OF THE ECONOMY,

WE HAVE A LOT TO TALK ABOUT.

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