Fortune 100 Financial Services Company – Case Study

Fortune 100 financial services company uses Empirical SellingSM managed sales acceleration solutions to increase sales by 79% while reducing cost per sale by 42%.

Background

A Fortune 100 financial services company uses telesales to sell charge cards and related services to small and medium businesses. At the point in time when Massini Group engaged with this client, the sales results had not improved in over a year and a half. In fact, sales results fluctuated wildly from week to week and month to month, making any form of strategic planning for the business extremely difficult. Massini Group was tasked with providing our managed sales acceleration services to the team with the primary objective of predictably driving sales growth and efficiency.

Approach

Twenty years of benchmark and best practices data were used as the foundation for a comprehensive review of the operations of the telesales team via a workflow review, time motion studies and proprietary analyses of 18 months of call history data. Massini Group’s leading indicator metrics are predictive measurements of sales cycles in progress that are driven by specific aspects of the sales operation. They are derived from 20 years of analysis of sales workflows and their associated call history and sales results. Massini Group used them to give the sales management team specific, differentiable and actionable insights into how the leads data, campaign structure, team organization, outbound call queuing, sales training and platform functionality impacted the performance of the team.

Findings

Among the findings: 36% of agent time was spent on deciding who to call as opposed to actually making calls; 42% of targets received little or no attention from the agents; and 29% of all calls were placed to targets for which a final disposition was never determined.

Solution

The core of the methodology is an iterative sales acceleration cycle in which a statistical foundation is put in place as the base for predictable, reproducible sales results. Based on a specific quantified contribution of each workflow component, Massini Group set forth a prioritized sales acceleration plan for the sales operations team. Within the context of each time-bounded block of work, we worked hand-in-hand with them to methodically execute the prescribed improvement to the sales workflow.

Results

Within two weeks, Massini Group was able to project the sales results for the first month within a plus or minus 5% range. Subsequent months followed a predictable upward trajectory as each additional component of the sales operation was brought into alignment. Within three months, overall sales results had reached record levels. For the first full quarter of Massini Group’s operations, sales had increased by 79% and average cost per sale had been reduced by 42% relative to a comparable prior quarter.