Right Hemisphere is the leading provider of enterprise product communication and collaboration solutions enabling customers to accelerate global time to market; increase product and service revenue; and reduce product development, launch and support costs.
Business Issues
- Due to pressure from their Board of Directors and threat of closing the business, there was an urgency to grow revenue quickly
- Increase deal size
- Reduce cost of sales
Challenges
- Lengthy sales cycles; inaccurate forecasting
- Incorrect positioning of solution limited potential and deal size
- Sales lacked skills to uncover business issues addressable by Right Hemisphere solutions
Visualize Solution
- Aligned sales, marketing, and executive management in ValueSelling Framework®
- Conducted and supported deal reviews
- Gained alignment from all parts of the organization around ValueSelling process
- Integrated process within company’s CRM tool
Impact
- Average sales price grew $225,000 to $562,000 within the first six months of ValueSelling training
- Quantity of higher value deals per quarter increased from 5.2 to 10 with 50% fewer sales professionals
- Forecast accuracy grew dramatically
- Q10x – 269% increase in production
- Q20x – 314% increase in production
During the same quarter that ValueSelling was introduced, Right Hemisphere’s deal sizes grew dramatically, and their sales cycles shortened. More deals filled the pipeline, and the average deal size increased from $225,000 to $562,000 per deal within the first six months following the ValueSelling implementation. The average deal size has since increased to $750,000. The number of higher transaction deals per quarter increased from 5.2 to 10 with half as many professionals. Forecast accuracy grew dramatically.