Opportunity/Issue
Achieving price increase and upselling targets through strategic sales negotiation training
Our client, a prominent B2B provider of industrial information services, faced significant challenges in meeting their price increase and upselling targets. The company sought to:
- Train all salespeople to effectively manage the account renewal process, including conducting mock negotiations for specific key accounts.
- Achieve price increases and drive the upselling of product innovations across five key markets.
Approach/solution
Tailored training and strategic tools
- On-site training: Our sales excellence experts developed customized training materials for on-site training with key account managers, focusing on the account renewal process.
- Mock negotiations: The training was followed by each KAM preparing and running a mock negotiation for one of their actual key accounts, with specific scripts prepared for those acting as buyers. This hands-on training ensured that KAMs were well-prepared to manage renewals and negotiate effectively.
- Strategic tools: We developed and provided the client with battlecards, a negotiation playbook, and monitoring tools. These resources equipped the sales team with practical strategies and real-time support to drive success in price increases and upselling initiatives.
Outcome/result
Substantial revenue growth thanks to a more effective sales team
The implementation of our tailored training and tools resulted in significant benefits for the client:
- Over 5% price increase: Achieved in existing categories, reflecting improved negotiation skills and strategic account management.
- Over 40% volume upsell: Realized in key innovations, demonstrating the effectiveness of the upselling strategies and training.
- 26% average revenue uplift on renewals: The comprehensive training and support provided enabled the sales team to achieve significant upsell.
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