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 partnered with LSA to help custom design, deliver, and measure an advanced new employee on-boarding process. It was well thought out and bought into by sales leadership.  The combination of targeted sales tools, technology, coaching, performance plans, training, and reinforcement made all the difference.  The solution quantifiably improved new employee and hiring manager satisfaction and increased the speed to sales quota for new hires.

I would highly recommend LSA Global for any sales enablement team looking to increase the engagement and speed to productivity of their sales force. We are excited to implement the program globally as we continue to scale.

Rochana Golani
Director, Global Sales & Technical Field Enablement

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

Jumio-Logo-LSAGlobal

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

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

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.

Daniel Heckman
Director of Sales-Enterprise Accounts

Avid

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.

We look forward to continuing our sales partnership with them.

Chip Whitman
Channel Excellence Manager

Thermo Fisher

In an effort to establish a solid foundation of consultative selling skills for our client-facing teams that can be built on over time, we engaged with LSA Global. By understanding our business and our markets, LSA Global was able to design and deliver the relevant sales skills, tools, and processes that have established the foundation for our future success.

We are extremely satisfied with our decision to work with LSA.  Thank you!.”

Kevin Wiley
Chief Operating Officer

Nelnet

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 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

LSA Global has been a great partner in helping us move toward being “the leading developer of talent in the service performance management industry.”

I have engaged LSA to help develop best-in-class programs in the areas of: Executive On-boarding, Manager Training, Sales Training and Coaching, Employee Engagement, and Instructional Design.

They have consistently met or exceeded my (very) high expectations and are always responsive to my needs to increase performance, engagement, customer satisfaction, and sales growth.

Mike Normant
Senior Director, Training & Development

Service Source

From beginning to end, LSA was as invested in making sure the program succeeded as we were. They not only met the needs of our sales organization, but they helped us meet our very tight launch deadline.

The consultant operated with the sense of urgency necessary to ensure that we were ready to roll the business sales training program in a way that made sense.

Without their dedication and sales expertise we would not have been able to launch the program with the success that we did. Thank you LSA for being a valued business partner!

Erin Surprise
PHR, Manager - L & D

Seagate has always found LSA to be a highly valuable consulting, training, and coaching resource.

The recent business sales training programs they’ve delivered for Seagate University have been the right solution, of highest of quality, and highly customized to our unique business and culture.

I would highly recommend LSA to any company interested in offering top notch learning solutions that make a difference.

Tammy Dujmovich
Sales, Marketing & Customer Service

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

We value the relationship we have with LSA Global. They customize and deliver top quality sales solutions when we needed them. They pay special attention to ensuring the solution fits our unique needs, business, and culture.

I would recommend them to anyone looking to greatly improve the skills of their sales force.

Carol M. Harbin
Manager, Worldwide Sales L&D

AMD

We evaluated 6 well known sales development partners in the market. We ended up selecting LSA global because of their unique ability to get results selling solutions.  They also had the strongest assessment, implementation, measurement, coaching, and global capabilities .

We’ve had such strong feedback from the executive selling program that there are requests to roll it out within the Marketing, Product Management, and our Leadership teams.  Thank you LSA!

Stephanie Lucey
HR Manager

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