You’ve heard the saying, ‘It takes a village.’ That’s the case when Vice President of Sales & Marketing, John Rabon came to MNI and SalesLeads to help turn around their sluggish sales. Fluid Systems, an equipment provider for mining, industrial operations, and oil & gas, had begun to experience a downturn in business. The company turned to Mr. Rabon to lead them back on the right track.
Q: Can you share what the company was experiencing during the downturn in sales?
Fluid Systems has been in business for over 30 years. Every company experiences ups and downs, and we were no different. With our small sales staff, we were doing it all: developing marketing programs, cold calling, and follow up. This was in addition to running the full sales cycle for all of our prospects and ongoing service and support for our current customers, including quoting, and managing existing accounts. Sales and sales operations were running too thin and this caused us to underperform.
Q: Now that you’ve identified the challenges, what actions did you take to correct it?
A: We decided to focus on what we do best: sell Fluid Systems’ products. This meant we needed to lean on the expertise of outside help. We began the process by communicating with the professionals at Manufacturers’ News Inc, or MNI. I worked closely with their sales team to focus in on a finite number of companies that were the best target for our products. In this case, it was oil & gas and mining industries. Now that we had this part taken care of, we needed professionals that understood the industrial market to help us get in the door so we can focus on our core strength, the sales process.
Q: How did you find SalesLeads?
A: Again, I relied on the recommendation of MNI. They pointed us in the direction of their partner, SalesLeads. I had never heard of a company that specializes exclusively in industrial sales lead generation. We had a few meetings together as SalesLeads wanted to be sure that we both could be successful together. The preparation was key. I shared the target list that was generated with MNI and the 30 second elevator pitch. With their help, we refined the elevator pitch where I was confident it was going to be an important topic for the target list. SalesLeads did a great job with generating qualified appointments that within the first couple of months, I closed six new clients myself.
Q: As timing is everything, how was the communications between you, the main contact, and SalesLeads?
A: SalesLeads was always on top of it. The project manager would reach out to me to communicate vital information on appointments. But I needed more flexibility because of our small staff. I asked SalesLeads to text me the contents of the new prospects. However, I knew it was important to continue with our weekly meeting. They didn’t have to be long meetings. Sometimes it was just a few minutes, sometimes longer. We knew what we needed to do and got back to business.
Q: Can you estimate how many of the qualified sales leads turned into a sale?
A: Within the first 4 months since kicking the program off, the team at SalesLeads had delivered approximately 40 qualified opportunities within the key target industries. We closed to 50%, whether is was for new equipment, service, or replacement parts.
Thank you John, it was a pleasure understanding your approach to incorporating partners into the success of sales.
Is your company looking for results like Fluid Systems'? With expert knowledge in the industrial sector, MNI and SalesLeads can get your sales team in front of qualified decision makers that match your ideal customers. Learn about our industrial prospecting & appointment setting services here.