If companies are to survive today, they must convince customers and prospects that their products/services are not just nice to have, but are a “must have.”
That’s the position Karen Cone found herself in at the beginning of the Great Recession when she was President and CEO of TowerGroup, the leading research and advisory services firm focused exclusively on the financial services industry. Having to cut expenses in all areas, her clients were wondering if they truly needed those services. Her competitors were losing clients as well so Cone started working with me.
“We needed to change the sales strategy and find a way to deal with clients in crisis. And we needed to communicate and sell our value proposition in a way that was different and more compelling than what had worked before,” she said. “In other words, we needed to move from being considered a “nice to have” to a “must have.”
We both agreed that if her sales force was going to succeed, it had to move from selling a product to selling an end result. That way they could raise the importance of the service in the minds of the buyers.
The results were extraordinary.
“Many of our competitors were being cut out all together,” she said. “We actually retained the vast majority of our clients. And we retained them at a level of spend that was extremely respectable.”
“As budgets loosened up, TowerGroup was really well positioned to take advantage of that,” she said. “These methodologies and approaches made a big difference in helping that happen.”
To learn more about this subject, please join me on Monday, October 3rd at 2pm ET for a free webinar where we will show you how to engage alliances as well as other strategies to immediately grow your sales. Click here to reserve your free seat now!
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Please Comment on how you turned your products/services from a nice to have to a “must” have