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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