SGS helps MMIC Technology Group
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A sales team’s unfocused, reactive approach was ineffective in meeting revenue targets. |
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Sales Growth Specialists introduced a well-defined, disciplined sales-management process that helped the team make their annual revenue goal in just seven months. |
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- Shortened the sales cycle by establishing a step-by-step process for qualifying prospects
- Improved close rate by over 40% due to more effective pipeline management
- Elimination of excuses promotes common-language dialog between sales manager and supports accountability
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You’d think that being the technology arm of the leading provider of medical professional liability insurance would make selling the company's electronic-based products to medical offices and clinics a slam-dunk. After all, having been a physician-owned medical malpractice insurer for more than 20 years speaks volumes about understanding the special needs and challenges faced by physicians, clinics, hospitals, and health systems. So how could a sales team with all this credibility miss in offering healthcare providers electronic practice-management solutions that improve the quality of patient care, increase revenue flow, and reduce expenses?
When you ask Tom Lee, MMIC Technology Solution's general manager, he'll give you an earful about how easy it can be to miss the revenue mark despite a stellar reputation and credibility galore—leading off with the absence of how to implement successful tactics. "We sorely lacked a disciplined process, so we were actually more of a proposal factory than a sales team," he explains. "Everything that fell into our lap automatically became fodder for our pipeline. And since all who inquired were thrown into our pipeline, a good portion of our prospects were curious tire kickers vs. solid, motivated buyers."
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"We could not have made our sales goal without Danita's
leadership and consulting. Our focus, methods, and
accountability make us successful. In contrast to where
we came from, we now turn down people who don't meet our
qualification criteria, and we don't anguish over our losses."
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Tom recalls that he and his salespeople needed direction from a professional if they had any chance of amending their lackluster close rate and making their 2004 revenue goals. “I had previously managed technical people who were used to working on longer-term projects without coaching. But it was apparent to me that sales people work on momentum derived from continual recognition of their more immediate successes to stroke their self-esteem. I felt I needed guidance from a sales management consultant about how to help them maximize their skills.”
Just after the first quarter last year and after losing half of his sales team to downsizing, Tom tapped Danita Bye, president of Sales Growth Specialists, to ensure they hit their 2004 revenue targets. He had met her at a sales seminar sponsored by the Minnesota High Tech Association.
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Faced with the extreme challenge of helping Tom and his group achieve their 2004 revenue goal in the seven remaining months, Danita took off at warp speed. She quickly zeroed in on identifying the traits of MMIC Technology Solutions’ target market and qualification criteria.
According to Danita, “A small sales force cannot afford to waste time and energy on prospects who are not motivated buyers. In addition to the practical time management aspect, the psychological impact of unsuccessfully pursuing ‘illegitimate’ prospects is demoralizing.”
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 She adds that MMIC’s improved pipeline input has predictably resulted in more effective pipeline management and a higher closing rate. In fact, at year-end, MMIC Group’s salespeople closed deals with four of the seven prospects and a strong chance of closing the remaining three during the following quarter.
In tandem with defining specific milestones of the sales process–from qualification through meetings until close–MMIC group has expanded the way success is measured. “We now claim success after the completion of each step, recognizing the value of each step in bringing us closer to a sale,” Tom explains.
“This is not only a strong reinforcement of following the process,” adds Danita, “but also a way to continually reward salespeople and provide them the immediate success they require.”
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In addition to helping MMIC Group establish qualification criteria and build a sales process, Danita coached Tom in how to inject accountability into the sales culture and become an effective sales coach. According to Tom, “Danita weaned me off of accepting excuses with a language that allows me to probe an excuse by asking ‘what’ and ‘how’ questions. Instead of nodding at ‘I left a message,’ I ask ‘What else can you do to get the prospect to call you back?’ And as a result, I am more engaged in the sales process. My sales people are more responsive to me and more motivated now that I’ve also learned to manage to my people’s strengths and personalities.”
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As Danita laid the foundation of the new sales process, the somewhat-skeptical sales force quickly found that her ideas worked. In fact, the sales team actually made 30 percent of their annual goal in the first three months after Danita began helping MMIC Technology Solutions. This fairly instant success imbued the team with the momentum to meet the remaining 70 percent of their goal in three months. She says, “Establishing a monthly sales quota gives the salespeople a reachable, shorter-term goal.”
Tom openly credits Danita in summarizing his salespeople’s accomplishments. “We could not have made our sales goal without Danita’s leadership and consulting. Our focus, methods, and accountability make us successful. In contrast to where we came from, we now turn down people who don’t meet our qualification criteria, and we don’t anguish over our losses.”
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