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Success Stories
- Creating a Uniform Culture
- Driving Organizational Focus on the Right Customer
- Driving Revenue Through Referrals
- Establishing Differentiation Through a Distributor Sales Force
- Executing a New Sales Strategy
- Helping a Client Quickly Turn an Existing Program into Sustainable Action and Results
- Increasing New-Hire Productivity
- Instilling a Winning, Competitive Attitude in the Sales Force
- One-on-One Coaching to Breakthrough Results
- Providing Practical Tools for Sales Management in a Changing Marketplace
- Raising the Bar on Performance
- Results Soar for 700-Agent Call Center
Helping a Client Quickly Turn an Existing Program into Sustainable Action and Results
Industry:
A Fortune 500 Financial Services Provider
Situation:
After a grueling merger, the organization realized they had focused too internally and as a result had lost sight of new client acquisition. Attrition was outpacing growth and something had to be done to change that trend. A senior sales executive, a leader of one of five regions throughout the country, was seeking greater results with regards to this critical measure and took matters into her own hands.
Analysis:
Business Efficacy, a firm that specializes in helping organizations generate more results from their existing programs and practices, quickly rolled up their sleeves to understand what was in place and what may be getting in the way. It was discovered that senior leadership was implementing a customized leadership program centered on the disciplines of achieving a wildly significant goal. The objective would be to quickly help this team’s leadership learn how to better apply those disciplines – in the field – to their existing processes, best practices, chosen metrics and leading indicators to accomplish their selected goal – new client acquisition.
Execution:
Two significant approaches were required. First, Business Efficacy had to help the team address five critical areas that were preventing execution:
- Improve clarity on what needed to be done behaviorally – in the field by the financial advisors – to drive new-client growth.
- Productively align and help the marketing support team members integrate with the most critical sales behaviors of advisors.
- Narrow the team’s focus onto the correct, highest-impact, leading indicators, which would signify progress or lack thereof.
- Define for region officers what would be required of them, as leaders of the initiative, to drive the right sales advisor behaviors into daily action.
- Assist region officers in building an “action plan”, to take back to their teams, to implement and hold their team accountable to doing the behaviors required for success.
These objectives were accomplished in an all-day “clinic” designed and facilitated by Business Efficacy.
With the five critical areas addressed, the region officers and senior executive received in-the-field coaching support. Business Efficacy provided real-time guidance to each region officer on how to modify their coaching approach to directly connect it to their new client growth goal, leading indicators, and high-impact sales behaviors. Improving each leader’s ability to be very clear in what they expected, and how to productively improve accountability throughout their teams, were two major skill areas emphasized during the coaching.
Impact:
The effort directly impacted the four most critical sales measures within the division:
- Increased the number of new clients.
- Collapsed the timeframe to measurable success for new-hire advisors.
- Improved the sales success rate of veteran advisors (3 years + with firm).
- Grew overall incremental sales.
Additionally, the division moved from to #1 in the company in incremental sales growth. Within the division, 4 of 5 regional officers hit their new client growth goal by year’s end. The fifth, which didn’t achieve goal in year 1, leads the country in year 2. The division outpaces the national YTD target for new clients by 16% points.