European Sales Development Strategy Contributes to Record Sales
Outsourcing talent management programs to TalentMinders is an efficient and cost-effective way to produce measurable performance results. Browse the case study below to learn how we helped an industry leader achieve business goals.
Medical device sales force lacking relevant skills and experience to compete effectively in interventional cardiology markets across Europe.
Build structured sales training and development system that delivers continuous strategic competency-based learning to achieve growth targets.
Objectives of the strategy were geared toward helping the European sales organization meet current and medium-term business objectives. The plan reflected the changing sales environment, the changing role of the sales representatives and sales management and the changing skills required for success in this demanding business environment.
The objectives included:
- Develop an understanding as to how the Company was organized and how it operated at the corporate level, in the market segments and at the divisional and country level.
- Translate business strategy into positive business actions, instilling a unified purpose; providing ‘solutions’ that meet customers’ needs.
- Increase awareness and flexibility toward change in light of company’s changing market conditions, culture, size and business.
- Build a cohesive team spirit, using training and career development as evidence of on-going management investment and commitment to the sales organization.
- Learn to recognize, through subordinates’ feedback, managers’ impact as leaders.
- Stimulate and encourage managers to assess their strengths and weaknesses and develop self-improvement behavior.
- Identify personal actions from managers that reinforce and reward the values and behavior required to achieve the company goals.
- To enhance each manager’s coaching, skills reinforcement, and sales management skills to impact performance and long-term achievement.
- Instill a teamwork attitude and behavior-working together within a pan- European business environment.
- Ensure a better knowledge base of product development, manufacturing, product application and the business.
- Develop a better understanding of competitors’ products and strategies and how they impact on our performance.
- Strengthen the point-of-sale selling techniques (required for each
market/customer profile), specifically regarding company’s products and complex sales environment.
- Understand our customers and their changing, ranging and complex needs.
- Strengthen understanding of the changing healthcare environment and healthcare/medical economics.
- Understand local/regional healthcare reimbursement practices.
- Understand local hospital processes and business practices.
- Develop a common sales skill vocabulary among all levels, across the region.
Training and development strategy recognized as playing a central role in the Company strengthening its financial performance, as shown by sales growth, increased earnings per share from continuing operations and maintenance of a return on equity of greater than 20% for the period in addition to supporting organizational effectiveness goals.
The following notes were provided by a regional executive describing the impact of the strategic talent development system.
“This was a new position created to cope with ever increasing complexity and diversity of our products and organization. Andrew’s role…has been instrumental in that he has made the training function the unifying activity through which the whole sales force from all over Europe as well as local management got exposure to the company as well as to each other.
The ratings of courses, developed and organized by Andrew, have been consistently very positive and have helped our employees and the company as a whole to perform at a higher level of excellence.”
Regional Business Lead, EMEA Region
Global Medical Device Leader