Marketing: Generating New Revenue
Contributed by Mike Maanum, Reventus Partner
The owner of a marketing company, in business for 14 years, knew he needed help from a sales consultant because he was the sole generator of revenue. He needed help evaluating processes and employees, as well as developing a hiring process.
Challenges faced:
- Owner was generating all revenue
- Had one sales rep who was not performing
- Hiring process for sales reps was not finding the right candidates
- No developed sales process was resulting in inadequate or no sales opportunities
Solutions implemented:
- Developed sales strategy and created a company play-book outlining product definitions, markets, buyer
- personas, sales plays and sales processes
- Established a full sales process from lead generation to client on-boarding
- Replaced and installed a new CRM system
- Removed existing sales rep and hired four new sales leaders to cover the US
- Conducted weekly sales team meetings and one-on-one meeting
Results Achieved:
- Accomplished a 52% close rate on client proposals and delivered $350,000 in new revenue.
- Created a positive work environment where the sale process was understood and followed leading to transparency and confidence of the company leaders.
- The owner no longer feels the weight of revenue generation solely on his shoulders.
The Big Win:
- Built a $2.2M pipeline and 150+ new sales opportunities in one year
- Starting Revenue: $5 Million
- Ending Revenue: $6.5 Million
The owner now has overall confidence that within the next 24-36 months the new sales organization will generate 50% of company sales. He feels like the sales organization has been built for sustainability and growth.
Learn more about how Mike Maanum can help you grow your business as an Outsourced VP of Sales!
