Fixing a poor sales demo in a global organization feels like trying to turn the Titanic.
When a multi-billion dollar global financial services organization realized that their sales demo was sinking, they turned to CommercialTribe to turn the Titanic.
A multibillion-dollar financial services company that specializes in developing software to help improve compliance and reduce costs for companies of all sizes. They employ hundreds of sales executives worldwide.
When the company realized that 75% of their sales team was unable to effectively deliver a sales demo, they knew they needed a quick solution to the problem. Not only were these sales demos not turning into revenue, but in a quickly maturing market, this meant that the company stood to lose critical market share.
There are many ways to train a sales team. But when you have to turn the Titanic, you can’t just tell your engineers to shovel more coal into the furnace and hope for the best.
The Vice President of Sales knew he needed to find a scalable, proven program that would work across his diverse teams. He wanted a solution that would not only train his sales team, but require them to practice, and then apply the needed changes in their sinking sales demo. That is when he came across CommercialTribe’s unique sales team development platform.
“Before CommercialTribe, we were focused on telling our buyers what the solution is and what it does,” he explains. “That’s not the most effective sales approach. Now, as a result of our practice initiative, we are back to what matters most—what it means and why our customers buy.”
Salespeople who are able to identify specific pain points and clearly articulate value in a sales demo are 35% more likely to be selected as the preferred vendor. And yet, time and time again, we sit through the same old “about us” and “feature-dump” demo.
With 57% of his reps improving their sales demo results, the proof of concept was impossible to ignore.
Using CommercialTribe’s sales development SaaS platform, the sales leader was able to quickly identify the top-performing demo and then align the rest of his team of sales representatives around the message. All in just 15 days. With 57% of his reps improving their sales demo results, the proof of concept was impossible to ignore.
“CommercialTribe has been a primary ingredient in our culture shift. The team is not only embracing the concept that practice drives results, but are eager for the next exercise.”
CommercialTribe fixed the demo problem. But it didn’t stop there. CommercialTribe is now the sales team’s solution for ongoing sales skills improvement, which also provides a framework for effective coaching. So far, his sales team has improved on such fundamental sales skills as
- Setting an agenda that focuses on the audience’s pain points
- Positioning the solutions to solve specific challenges
- Clearly articulating differentiation
- Helping the client see themselves using their solution
The organization’s sales training program’s ramp to productivity has been significantly reduced — from several months to a matter of weeks using a formal practice, assessment, and coaching process. With an unsinkable new sales demo and new-found agility to respond to market changes on deck, this global Fortune 500 financial services organization is steaming on to reach ever higher goals and accept new challenges.
“CommercialTribe’s service has been outstanding. So many times you buy a solution only to find it unsupported. CommercialTribe has been proactive, responsive, and with us every step of the way.”
CommercialTribe is the standard SaaS platform for developing and coaching sales teams to improve performance. We create an environment to unlock the potential of every sales rep and manager to get better—every quota carrying year—by intelligently observing reps in multiple selling scenarios, constructively assessing their behavior, and providing managers with clear coaching paths to close rep development gaps—and improve their coaching skills.