How working with No Fluff helped a Financial Technology company increase sales activity within the first week.
The client was not generating enough sales to support business
growth. The sales team were demotivated and underperforming.
No Fluff Support
Step 1 Enable
- Blocks to activity identified and rectified, materials adjusted and goals discussed
- Sales tools improved (CRM etc) and time management work carried out to ensure maximum time available to drive sales
- The current sales process laid out and examined from the buyer viewpoint
- Existing commission and bonus scheme examined and alternative models discussed.
Step 2 Empower
- New activity targets were set after discussions with the team and checking the correct KPIs are being tracked.
- A reward system was introduced for activity regardless of revenue generated.
- Training, role play and shadowing the team to adjust approaches and techniques.
- Support of the Sales Manager on leadership and meeting schedules with the team.
- Alignment with the marketing department on lead generation and sales / marketing materials going to prospects.
- Ways to track activity defined and clear for all involved.
- Increased use of the CRM encouraged and used to track activity so data isn't lost.
Step 3 Embed
- Once activity was up, we then introduced more focus to the type of activity and at which stage of the pipeline was needed to drive sales.
- A refined sales process for each stage was laid out to ensure follow up is maximised and at correct intervals.
- A new agenda for monthly sales training established
- A revised commission and bonus model was tested and then rolled out to the team.
Key Value Actions
- Targets clarified
- Reward system set up
- Team mentoring
- Alignment of lead generation to sales activity
- Process optimization
- Pipeline management improvement
- KPIs defined and tracking set up
Where we found ways to increase sales
- Increase sales activity and focus on fewer, but the right KPIs.
- Motivation and training of the sales team and sales support.
- Alter the commission and bonus scheme to become more transparent and immediate in its reward, without more cost.
- Increase buy-in to the CRM to keep data online.
- 400% Increase in sales activity Results achieved within a week
- Sales increase continued for +3 weeks
- New sales processes in place
- Opportunities increased 80% within 4 weeks