Sales Negotiations ROI of 500%+ in the Financial Services Industry

Sales Negotiations ROI500%+ Return on Sales Negotiations Investment in the Financial Services Industry

Client Case Study

Situation — Sales Negotiations ROI

As the leading provider of business information for credit, marketing and purchasing decisions worldwide, D&B helps customers gain access to the world’s largest and highest quality global commercial business information. D&B Denmark, a strategic partner of D&B, is responsible for approximately $6.3 Million in annual revenues.  Our engagement with D&B Denmark centered on their sales organization to include account managers and account specialists.

Complications — Sales Negotiations ROI

We conducted a sales negotiation needs analysis designed to map the internal negotiation structure within D&B Denmark and to capture both internal and external issues surrounding sales negotiations. It included D&B sales personnel, sales management, and sales account managers.

Because the goal of the analysis was to determine if—and, if so, why—a Sales Negotiation Initiative was needed, the line of questioning included market conditions, sales process implementation, value proposition effectiveness, competition, ideal target client profiles, consequences of no agreement, trades, the company’s internal conditions, training implementation, and sales coaching precedents.

When the needs analysis was complete, the following key sales negotiation issues were identified:

  • Negotiation skill sets varied greatly among team members.
  • Irrational behavior by the company’s competitors.
  • More sophisticated buyers.
  • Insufficient analysis or preparation for deals.
  • A history of giving away value.
  • Lack of confidence in sales negotiations.
  • Various sales negotiation approaches used in each country.
  • No integrated and standardized sales negotiation process.

Approach — Sales Negotiations ROI

In order to address these issues, we recommended a comprehensive Negotiation Solution rather than a series of isolated training events with four key steps:

  1. Sales Negotiation Strategy
    Defining a common organizational negotiation strategy linked to the company’s sales strategy.
  2. Sales Negotiation Process
    Agreeing on a common negotiation process integrated with the sales process including coaching and measuring both strategy use and process implementation including:

    • Sales Negotiation Training
      Delivery of our Strategic Sales Negotiation Training with a highly customized training program where participants worked on live deals to practice the process and advance their deal.
    • Sales Negotiation Reinforcement
      Since many deals were set to renew or close in the next 6 months, we agreed each participant would further their specific deal with follow up coaching calls.
  3. Sales Negotiation Training Measurement
    Measuring leading and lagging indicators including incremental sales revenue, account retention, time to close, new sales negotiation skill and process adoption, trades vs. concessions, and incorporation of  multiple equal offers in proposals.

Results
In four months:

  • $349,000 increase in incremental revenue.
  • 581% return on investment.

Related Information

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

LSA’s introduction and continuous reinforcement of the MEDRAD objectives, vision, and mission were very impressive. The majority now understands and is openly able to verbalize these key items.

LSA did a wonderful job introducing the importance of sales coaching and reinforcement and was able to keep everyone focused.

Cindy Steffen
National Manager, Telesales

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
SVP, Sales North America

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LSA always delivers the right sales and sales management solutions to meet our unique needs. I especially appreciate their ability to deeply understand our business and our culture so that they can design the most valuable and impactful outcomes for us and our clients.

Sarah Parks
Senior Project Manager

Hyperion

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

LSA has consistently delivered top notch value to Seagate’s Corporate University Program. The level of facilitator involvement and continuous program evolution has kept the sales negotiation training engaging, relevant, and impactful.

We look forward to working with LSA in the future.

Geoff Purnell
Sales Executive, Seagate Data Recovery Services

Seagate

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 hired LSA to help align our sales strategy with our business strategy to sustain our hardware business while driving high growth in software and services. LSA’s ability to measure our level of strategic alignment, pinpoint areas of leverage, and get the entire executive sales team to agree upon what matters most exceeded our expectations.

I would recommend them to any sales leader who wants to drive sales performance.

Dan Dica
SVP Worldwide Sales

OneSpan_Logo-LSAGlobal

At the onset of our engagement with LSA, I was skeptical that an outside firm would be able to understand and dissect our organization’s highly complex and technical business challenges.

However, through the leadership team interview and strategy retreat processes that LSA utilized, they provided a fresh, innovative, and practical perspective that created tremendous strategic value and focus for our executive leadership team.

As a result, I would highly recommend LSA Global to any leader struggling with building the strategic alignment and high performance teams necessary to generate sales growth, in a way that fits their unique corporate culture.

Robert Laudati
Managing Director

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LSA Global’s sales negotiation training and assessment process provided the sales negotiation tools and practices that have significantly enhanced our negotiations process. Their facilitators understood our business, its challenges, and framed the learning in a way that we understood.

I am very happy with the value we have received and would highly recommend LSA to others looking to improve their sales negotiations results.

Jeff Bizzack
President

Service Source

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

LSA’s customized Effective Presentation Skills program has helped us elevate our presentation skills to the next level. I personally now have a much greater self-awareness of my presentation skills and can leverage my strengths while working to improve upon other areas.

I definitely recommend LSA Global to anyone for whom presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

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

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!

Jack Lord
Vice President of Sales

Blackhawk Network

What a refreshing change from the half-baked psycho-babble you normally get from training and consulting organizations. LSA gives you the practical and results-oriented assistance you need to define and reach your goals.

Their leadership, management, and sales expertise has been invaluable.  They think strategically and provide a results driven plan – not just a temporary fix.

They are great to work with, and even more importantly, they “get it!”

David Fiano
Director of Merchandising

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