60% Increase in Sales
Medium size software business providing solutions to Telecoms companies in Europe.
Stagnant sales for previous 2 years.
Free Review (Summary)
Sales methods and processes were reviewed.
The review revealed that the present method was to meet as many Telecoms companies as possible, provide a demo, arrange a trial and then process the order.
The general attitude of the customers engineering teams towards sales people was guarded. Trust was an issue.
Good expertise was considered a strong asset.
Pricing models were rigid and targeted the high end of the market with a higher price than competitors.
Free Report (Summary)
The review revealed that trust and expertise were attributes customers wanted to receive from a perspective supplier.
In addition, an efficient clearly defined process for trials, implementation and continuing support were considered as a basic foundation to gaining customer confidence.
Customers wanted various choices to purchase the product.
The report identified adaptations in approach to the customers including;
– Involvement of technical staff at the beginning of the sales process (preferably keeping the same technical person(s) involved throughout the process) Familiarity, perception of expertise
– The trial process would use some of the customer’s data with agreed goals and timeframe. Commitment, develops familiarity, which leads to loss aversion when the trial is completed.
– Pricing models were made flexible to correspond with the customer’s budget. Easy, conform.
The Get Noticed Consultancy managed the implementation, nudging the sales and software engineers in several areas, focussed on engaging with the customer rather than direct selling.
During the implementation it also became clear that the expertise were highly regarded which led to justification for increasing the annual maintenance fee from 10% to an average 18% within the first 6 months of the new sales approach. Rational, attractive
The 60% increase in sales was realised within 18 months from the beginning of the Implementation process. A total of 8 Nudges were implemented. Some were adjusted or fine-tuned during the implementation process.