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Sales Training Case Study: A Deeper Understanding of Customer Needs Fosters Differentiation that Earns Sales

The Challenge

As an investment management company Oppenheimer Funds faces a crowded industry. With this crowding comes commoditisation. More managers are offering the same products. It became clear that setting the business apart from the rest meant offering customers a better experience through a consultative approach. This deeper engagement style was needed not only to form a better understanding of needs but also to develop much-needed trust from customers. Making this change “stick” would also require that managers become more effective coaches to help disseminate consultative practices. Reaching these goals would mean gaining broad-based buy-in, using existing technology and engaging a diverse field of Senior Adviser Consultants, Adviser Consultants and Divisional Managers. Oppenheimer partnered with Richardson to develop workshops enabling leaders to position their change story in a way that compelled direct reports to commit to the transformation.

The Results

60%
Participants demonstrated a 60% improvement in “Strategic Dialogue.”
23%
Trainees exhibited a 23% increase in follow up skills critical to closing the sale.
17%
After training participants exhibited a 17% increase in the skills required to gain access and build trust.

“The customisation for our field force was critical, and it is something we will take into our L&D organisation and sustain as we continue to move the needle from wholesaler to consultant.”

SVP, Director of Internal Sales & Learning and Development