Case Studies SourceMedia Surpassed Projected Revenue by $1 Million Following Persuasive Prospecting Training

Edit This Case Study Record

	SourceMedia Surpassed Projected Revenue by $1 Million Following Persuasive Prospecting Training

SourceMedia Surpassed Projected Revenue by $1 Million Following Persuasive Prospecting Training

Applicable Industries	Professional Service Software
Applicable Functions	Business Operation Sales & Marketing
Services	System Integration Training
Challenge	In addition to selling subscriptions of their publications, SourceMedia introduced online tools targeting financial executives. The new product, however, needed executives to agree to a demo in order for the executive to buy-in to the product. One of the bigger obstacles they faced was positioning the new product during sales calls. Read More
About Customer	SourceMedia is a leading provider of information, data, and software tools for professionals in the financial services industry. The company offers a range of publications and online tools designed to help financial executives make informed decisions. With a large customer base and a reputation for delivering high-quality content, SourceMedia is well-positioned to introduce new products and services to its audience. However, the company faced challenges in effectively positioning and selling its new online tools to financial executives, necessitating a strategic approach to improve sales performance and customer engagement. Read More
Solution	SourceMedia chose VorsightBP’s Persuasive Prospecting program to improve the quality of leads in their pipeline. The training consisted of mapping out organization charts to ensure they are targeting the correct executive, understanding 3x3 research to identify 3 key talking points in 3 minutes of phone-based research, and redesigning their talking points to move from focusing on the publications to focusing on the online tools. Satisfied with the initial training, SourceMedia brought VorsightBP in for two additional sessions of ongoing coaching and management workshops. This resulted in SourceMedia surpassing their projected revenue goal by $1 million dollars for the month of June 2011. With the following two sessions, VorsightBP implemented a program for the sales team to follow. The program included re-engineering the sales process with easy to follow sales stages, sales-enablement tactics to increase salesforce buy-in, and a process to demonstrate the value of the new online tools to customers. Read More Log in to view content
Contents

Applicable Industries

Professional Service

Software

Applicable Functions

Business Operation

Sales & Marketing

Services

System Integration

Training

Challenge

In addition to selling subscriptions of their publications, SourceMedia introduced online tools targeting financial executives. The new product, however, needed executives to agree to a demo in order for the executive to buy-in to the product. One of the bigger obstacles they faced was positioning the new product during sales calls.

About Customer

SourceMedia is a leading provider of information, data, and software tools for professionals in the financial services industry. The company offers a range of publications and online tools designed to help financial executives make informed decisions. With a large customer base and a reputation for delivering high-quality content, SourceMedia is well-positioned to introduce new products and services to its audience. However, the company faced challenges in effectively positioning and selling its new online tools to financial executives, necessitating a strategic approach to improve sales performance and customer engagement.

Solution

SourceMedia chose VorsightBP’s Persuasive Prospecting program to improve the quality of leads in their pipeline. The training consisted of mapping out organization charts to ensure they are targeting the correct executive, understanding 3x3 research to identify 3 key talking points in 3 minutes of phone-based research, and redesigning their talking points to move from focusing on the publications to focusing on the online tools. Satisfied with the initial training, SourceMedia brought VorsightBP in for two additional sessions of ongoing coaching and management workshops. This resulted in SourceMedia surpassing their projected revenue goal by $1 million dollars for the month of June 2011. With the following two sessions, VorsightBP implemented a program for the sales team to follow. The program included re-engineering the sales process with easy to follow sales stages, sales-enablement tactics to increase salesforce buy-in, and a process to demonstrate the value of the new online tools to customers.

Impact #1	SourceMedia was able to map out organization charts to ensure they were targeting the correct executives.
Impact #2	The sales team learned to identify 3 key talking points in 3 minutes of phone-based research, improving their efficiency.
Impact #3	The talking points were redesigned to focus on the new online tools rather than the publications, making the sales pitch more relevant.

Impact #1

SourceMedia was able to map out organization charts to ensure they were targeting the correct executives.

Impact #2

The sales team learned to identify 3 key talking points in 3 minutes of phone-based research, improving their efficiency.

Impact #3

The talking points were redesigned to focus on the new online tools rather than the publications, making the sales pitch more relevant.

Benefit #1	SourceMedia surpassed their projected revenue goal by $1 million dollars for the month of June 2011.

Benefit #1

SourceMedia surpassed their projected revenue goal by $1 million dollars for the month of June 2011.

Download PDF Version

Overview

SourceMedia Surpassed Projected Revenue by $1 Million Following Persuasive Prospecting Training

Operational Impact

Quantitative Benefit