Management Consulting Firm Shortens Sales Cycle From 9 Months to 4 Months
Situation
Our client manages a talent pool of roughly 700 independent professionals (IP). The IPs come with at least 3-5 years of experience at the top of a white-glove management consulting firm, as well as with experience as line managers in a specific functional area. The Zurich-based firm was founded six years ago by two former McKinsey partners who noticed a growing need from their clients for specialized experts on smaller-scale projects. Recently, senior management made a strategic decision to expand to the U.S.
U.S. branch failing to hit sales goal
While our client’s revenue had historically been strong, the newly-opened U.S. headquarters had yet to realize their full potential and match the success of their overseas counterparts. Because the client had a strong brand name in Europe, they were able to drive business almost exclusively through farming existing accounts and referrals. However, the client was relatively unknown in the U.S.; thus senior management realized that they needed a new approach to ensure the long-term viability of the new initiative.
Their challenge was exacerbated by the fact that their salespeople were also tasked with recruiting new IPs to the talent pool as well as client delivery. Their already hectic schedules made it almost impossible for them to find any time to act as hunters and engage in new business development.
The client partnered with Vorsight to help them generate a higher quantity of meetings with senior executives at their strategic accounts. The client chose to work with Vorsight in part because of our long history of success scheduling meetings with Heads of Strategy & Business Development.
Client outsources inside sales function
Vorsight assembled a team of two seasoned business development professionals who were able to quickly absorb the client’s marketing collateral and redesign the introductory sales pitch into a clear, concise, and compelling series of high-level talking points. Through a combination of email campaigns, teleprospecting and cold calling, Vorsight ensured that the client was able to meet with the most senior and qualified executives at their targeted accounts.
Sales cycle dramatically shortened
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Client sales cycle reduced from an average of 9 months to an average of 4 months.
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Over a period of 12 weeks, Vorsight secured over 75 meetings with senior executives at client’s strategic accounts within the Fortune 1000.
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Client sales force’s time was freed to focus on higher value-adding activities.
