Shorten the sales cycle and increase close ratios in a competitive environment
Global Investment Bank
Shorten the sales cycle and increase close ratios in a competitive environment.
Richardson developed a fully customized sales and strategy program for investment managers. The coaching focused on developing a strategic approach to client opportunities and relationships to win more deals. A framework and tool were provided to be used for all priority deals following the training. Participants worked on real deals and left with the strategy and skills to win.
We tracked results. There was an increase in deals closed to meet client objectives. For example, a team applied the learning in a highly competitive situation to secure business that they had previously not viewed as winnable. By developing a strategy and having the skills to implement development, they won the mandate.
The FTSE 100 company awarded the $750,000 contract to the investment bank because the client felt that the investment bank fully understood what the client wanted. The investment managers directly attribute the close of this deal to the approach and strategies they developed in the training.
When compared to the program's total cost, the coaching event represents an ROI of $739,000 thus far. The investment managers have subsequently applied the skills learned from Richardson to another opportunity and were again successful in winning the mandate.