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SourceMedia Surpassed Projected Revenue by $1 Million Following Persuasive Prospecting Training
Applicable Industries
- Professional Service
- Software
Applicable Functions
- Business Operation
- Sales & Marketing
Services
- System Integration
- Training
The Challenge
In addition to selling subscriptions of their publications, SourceMedia introduced online tools targeting financial executives. The new product, however, needed executives to agree to a demo in order for the executive to buy-in to the product. One of the bigger obstacles they faced was positioning the new product during sales calls.
About The Customer
SourceMedia is a leading provider of information, data, and software tools for professionals in the financial services industry. The company offers a range of publications and online tools designed to help financial executives make informed decisions. With a large customer base and a reputation for delivering high-quality content, SourceMedia is well-positioned to introduce new products and services to its audience. However, the company faced challenges in effectively positioning and selling its new online tools to financial executives, necessitating a strategic approach to improve sales performance and customer engagement.
The Solution
SourceMedia chose VorsightBP’s Persuasive Prospecting program to improve the quality of leads in their pipeline. The training consisted of mapping out organization charts to ensure they are targeting the correct executive, understanding 3x3 research to identify 3 key talking points in 3 minutes of phone-based research, and redesigning their talking points to move from focusing on the publications to focusing on the online tools. Satisfied with the initial training, SourceMedia brought VorsightBP in for two additional sessions of ongoing coaching and management workshops. This resulted in SourceMedia surpassing their projected revenue goal by $1 million dollars for the month of June 2011. With the following two sessions, VorsightBP implemented a program for the sales team to follow. The program included re-engineering the sales process with easy to follow sales stages, sales-enablement tactics to increase salesforce buy-in, and a process to demonstrate the value of the new online tools to customers.
Operational Impact
Quantitative Benefit
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