Sales Negotiations to Improve Close Rates and Revenue

Improve Close RatesImprove Close Rates and Revenue at a Services Firm

Client Case Study

Situation — Sales Negotiations to Improve Close Rates and Revenue

Livingston International is Canada’s leading customs broker and trade-related services company facilitating two-way trade in the busiest trade lane in the world — the Canada-U.S. border. Every day, approximately $1.3 billion worth of goods flows back and forth between the two countries.

With more than 60 years of experience and approximately 1,700 employees in over 70 offices at key border points and other strategic locations in Canada and the United States, Livingston serves an impressive list of Fortune 500 clients.

Operating in a highly fragmented and price sensitive market, Livingston faced the prospect of selling superior services at a premium in a “commoditized” market. The net result was a reduction in win rates, declining average deal size, a downward pressure on margins, and an increase in customer retention issues.

 

Complications — Sales Negotiations to Improve Close Rates and Revenue

A formal Sales Negotiation Needs Analysis with the client identified the following circumstances contributing to these issues:

  • More sophisticated executive-level buyers.
  • Insufficient analysis or preparation for deals.
  • A history of “giving away” value on sales calls.
  • A good sales process in place but no sales negotiation process to support it.
  • Functional areas acting like silos, each with its own goals and expectations.
  • Lack of sales process implementation and reinforcement.

Approach — Sales Negotiations to Improve Close Rates and Revenue

In order to address these issues, we recommended a cross-functional, organization-wide Sales Negotiation Solution.  We recommended a holistic approach because we know that it greatly increases the likelihood of sellers being able to achieve their business goals while establishing and maintaining successful long-term relationships with their customers.

  1. Sales Negotiation Strategy
    Defining a common organizational negotiation strategy linked to the company’s sales strategy.
  2. Sales Negotiation Strategy
    Agreeing on a common sales negotiation process integrated with the existing sales process and supported by sales negotiation training including:

    • Developing deal strategies with Marketing, Canadian and/or U.S. Client Services and/or Consulting prior to presenting offers.
    • Presenting three Multiple Equal Offers with every trial close.
    • Submitting Strategic Negotiation Worksheets for every deal over $10,000.
    • Implementing the negotiation strategy and process in Performance Appraisals.
    • Trading things of equal or greater value and no longer simply concede items.
  3. Sales Reinforcement
    Sales coaching process implementation.
  4. Sales Measurement
    Measuring results and agreeing upon next steps.

Results
In twenty four months for 1,148 deals:

  • 72% increase in Close Ratio.
  • 142% increase in New Clients.
  • 21% increase in Annual Sales.
  • 5x increase in average deal size.

Related Information

ServiceSource has relied on LSA Global’s expertise for a variety of core initiatives, from strategy design and implementation, to business sales skills, to sales coaching. We recently engaged LSA Global to create a competency matrix for our inside sales team that will serve as our roadmap for employee on-boarding, development, succession planning, and retention.

This critical project had a tight timeline with high visibility. LSA Global completed the deliverable ahead of schedule and surpassed our expectations.

PMO and Outside Sales Operations
Senior Vice President

Service Source

We recently hired LSA to help us take our client delivery methodology to the next level as we continue to grow and help our clients succeed.

The custom strategy and design session exceeded our expectations. They really understood our business and delivered within tight time frames. They were the best I have seen for this type of complex, visible, and strategic work.

LSA’s ability to get a group of 20+ executives from around the globe on the same page, push their thinking to new heights, and ensure an executable plan was excellent.

I would recommend LSA to anyone looking to take their strategy and strategic execution to the next level.

Rob Sturgeon
EVP Client Delivery

Service Source

The sales negotiations training program was awesome. The facilitator was excellent. We are immediately able to see the relevance and apply it to our specific. The preparation and energy was very apparent. The facilitator did a great job keeping everyone engaged and focused on what mattered most to our success.

I am very pleased with the results and like the very relevant and applicable sales negotiations tools. Great job!

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Vice President of Sales

Blackhawk Network

The sales strategy and goal setting session was right on target. It was a very valuable process that I highly recommend to any sales team looking to increase performance.

Thank you LSA Global!

Phil Rosenberg
Senior Vice President of Sales

We originally engaged with LSA Global to help our subcontract administrators and buyers develop better negotiations skills. As manufacturers of satellites, we have many sole source companies to procure the required parts.

Our teams must be able to interact effectively with international companies. This environment uniquely challenges our team in their ability to create equitable contracts, while preserving and strengthening our supplier relationships.

LSA Global not only provided our team with the skills to negotiate effectively and consistently, but we further expanded our relationship to include consulting around our negotiations’ process, measurement of our negotiations, and one-on-one coaching for our team members. We are very pleased with the result of our partnership with LSA Global.

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Vice President of Materiel

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LSA was instrumental in making our worldwide sales meeting a success. They saved me a ton of time with ‘best in class’ solutions to meet our business objectives. Whenever I’m in a pinch, I can count on LSA’s dynamic team of sales trainers and consultants to really go the extra mile.

They truly understand the meaning of customer delight.  Thank you!

Amy Walker
Manager

Seagate

LSA Global demonstrated excellent expertise in sales and sales leadership, spent the time required to make sure the objectives were clear, and showed flexibility in shaping and sustaining everything that they did.

They “MEDRADized” the session to meet our unique needs, looked beyond the obvious, and got the key points across in a way that made sense.  Thank you!

Doug Stantial
North America Sales Training Manager

We engaged with LSA Global to deliver a highly customized sales territory planning and management workshop. They have a unique ability to quickly understand our business and needs. This keen understanding allowed for a sales solution that was specific and impactful.

Their sales consultants and facilitators were well prepared and ingrained themselves to become one of us. We’ve come to see LSA Global as a true sales partner.

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Originally, we launched a RFP to partner with a sales training provider to improve the sales skills of our global distributor network.

LSA Global challenged our thinking by suggesting we focus on the systemic sales strategy, culture, and talent factors that create sales success before we invested in the more symptomatic needs of sales skills and knowledge.

LSA Global identified the critical strategic actions to improve overall sales performance and then designed and delivered world class business sales training across the globe to help increase revenue and margin.

I’m so happy we took a more strategic approach to sales performance with LSA.  Thank you for making this fit our culture.

Kim Benson
Director Human Resources

Trimble

We wanted our Channel Managers to get sales strategies and tools that would increase partner revenue and strengthen partner relationships. LSA Global’s ability to quickly understand our business and to bring experienced and proven resources to the table created credibility with both the executive and sales team.

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Chip Whitman
Channel Excellence Manager

Thermo Fisher

We turned to LSA Global to help us take our executive selling and solution selling skills to the next level.

Their ability to formally assess our sales situation, identify key sales skill gaps, develop a plan to measure the results, and fully implement a key sales initiative has been outstanding.

LSA delivers the full solution; not just sales training.  I recommend them to any organization looking to transform its sales force the “right way” to sell higher and wider.

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We recently hired LSA Global to help take our sales team to the next level. Specifically we focused on targeting the ideal client, differentiating our solutions, getting more qualified leads, and closing a higher percentage of our pipeline through a proven referral selling methodology.

So far, the results from the business sales training have been great. We were pleasantly surprised with the results-oriented approach and thoughtful follow-through plan to ensure that the new sales practices “stick.”

We look forward to a long-term relationship, and I would recommend LSA to anyone looking to increase the effectiveness of their sales force.

Patrick Arnold
President

Filice

We selected LSA over a handful of other experts to assist with a key sales leadership imperative. LSA added value every step of the way throughout the entire engagement. Their customized approach to sales presentation training exceeded expectations, and we are excited about global implementation across our offices in more than 100 countries.

LSA’s unique Strategy-to-Results approach is an added game changer.  I recommend them to anyone looking to get high quality results when it matters most.

Eric Mugele
Executive Director Global Learning

Grant Thornton

We selected LSA Global over several other sales experts based upon their ability to clarify and align our sales strategy, their expertise in identifying the critical sales scenarios necessary to meet our growth targets, and their willingness to stand behind the results with targeted sales management training and coaching and a pay-for-performance guarantee.

They have become an integral part of my sales team as we rapidly scale. I would recommend them to any sales  leader looking for a true partner.

Anthony Lanham
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Jumio-Logo-LSAGlobal

We needed a way to improve customer training. We had to reach a disparate group of people in a very short period time. LSA gave us a new training methodology and a better way to go to market with our customer training that improved their experience and our brand positioning.

LSA delivered exactly what we needed and exceeded our expectations.  Thank you.

Hinda Chalew
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