Revitalizing a European Sales Strategy Delivers Quick Results, Framework for Future Growth

The European division of a US-based retail marketing agency had a strong reputation for innovation and a successful track record — but a dwindling pipeline of opportunities. In the short-term, the European team needed to focus on high potential prospects, and generate new business quickly. Longer term, the division needed to increase brand awareness with key targets and develop an effective sales program.
 

Engagement Plan

The Broderick team began by interviewing leaders in the division to understand their strategic goals and needs. We then conducted a survey of target senior buyers in the European banking community to identify market needs and buying trends. Based on the internal and external feedback, we developed a market strategy that focused on three key priority areas:

Brand — What the market knew of our client, they liked – but even those who knew the company's name had a low understanding of what differentiated them from competitors. The company needed to increase its brand awareness and brand understanding, and to create an image of a company that combined innovation with practical business approaches. We developed a brand building campaign based on positioning the company as the expert in retail marketing and emphasizing their unique combination of design, analytics and technology.

We created their value statement and the messages, customized to each buyer and marketing channel, to bring that value to life. We worked with the in-house team to create a series of sales collateral, revised their presentation materials and designed a thought leadership program showcasing their design and technology capabilities as well as their innovative thinking on creating competitive advantages for their customers. Finally, we worked with them to leverage one of their key marketing and sales tools, a road show exhibit, by developing a process to more effectively book and present the exhibit and methodically follow-up.

Market — We focused the team's business development efforts and limited resources on a specific type of financial institution within three targeted geographies (based on buying criteria ranging from propensity to spend, market size, economic trends, regulatory and political environment and historical buying patterns). We also profiled the buyers and influencers within those banks and developed messaging tailored to each function.

Sales — In order to get some quick sales and to effectively build a pipeline, the company needed a disciplined sales process, tools and sales materials, as well as clearly defined roles and expectations. Working with a core team, Broderick established criteria for rating and defining opportunities, migrated them to a CRM tool, restructured sales roles, established weekly pipeline review calls, and streamlined proposals and presentations.

Key Themes and Recommendations
 

The Bottom Line

By combining short-term improvements with a foundation for long-term strategic repositioning, we started the process of revitalizing the business. Through our work, the European division was able to understand its opportunities, focus on its highest opportunity markets, and launch an integrated marketing and sales effort that was strategically planned, executed, and tracked. The results within three months of program launch: two new clients with revenues over $500,000; continued progress with the top ten prospects identified in the planning process; and a new alliance with a technology firm that resulted in several introductions to potential customers.

The client valued our ability to focus them on what they needed to do to change course and build their business. According to one of the firm's senior vice presidents, “Broderick gave us the ability to see where the gaps were and to strategically address them. As objective experts, they helped us focus on the real problems and gave us a clear, concise viewpoint and action plan.”

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