Product complexity and a rapidly changing sales environment make it harder for manufacturers to maintain their competitive edge.
Increasingly well informed customers demand more value, competition is fierce and new skills are required to sell and support products that are integrated with innovative technology.
Manufacturing companies must shift from legacy sales organizations built around relationship development and product knowledge, to organizations that integrate marketing, sales and service with collaborative skills, solution selling across broader portfolios and new revenue models.
Most manufacturers have mastered the art of lean production – now it’s time to apply that same discipline to your marketing, sales and service organizations. Alexander Group’s manufacturing practice brings the expertise and experience you need to drive change and increase revenue growth.
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Big picture manufacturing sales transformation efforts require the following:
Increase Focus on Portfolio Selling
Manufacturing companies need to sell a broader set of products and services that increase revenue per customer and maintain account control. 95% of companies say portfolio selling is important to their future strategy.*
Manufacturing customers are demanding product sets that cross lines of business because they want to work with fewer suppliers, and many companies are increasing the size of their portfolios through strategic partnerships. Consequently, manufacturers need to equip the sales organization to sell larger product sets. Your marketing, sales and service efforts must be coordinated around the voice of the customer so buyers can build relationships with all of your brands – on their terms.
*From Alexander Group’s Manufacturing Sales Strategy Survey. Get the full report.
Optimize Structure for Differentiated Growth
Partnerships that increase portfolio size and in-organic growth through acquisition often fail to yield the expected revenue lift. Thoughtful assessment and alignment of select opportunities within the portfolio is necessary for differentiated growth.
Manufacturers need to identify the unique sales motions needed to unlock maximum customer revenue potential. Portfolio expansion means added segments that may have overlapping resources and sales activities. Across the industry, companies are increasing spending on sales metrics and sales enablement to guide decision making. Get the leverage you paid for by evaluating new ways to lower costs and investing in the right areas to enable growth.
Deploy More Complex Sales Models
Manufacturers must carefully align their specific roles and channels to more effectively sell technology-intensive products and services. Portfolio selling and a wide variance in customer buying behaviors adds to the complexity, and your revenue generation teams need to adapt.
In response, companies are investing more alternate channels such as internet selling and channel partner programs to expand the reach of their sales organizations. Sales enablement plays a big role here as well, as reps need to learn to sell on product innovation, not just price. Active use of internet selling can reduce channel expenses and meet customer expectations for self-service, while a strong channel partner program can stimulate end-user demand.
Do you know how your revenue team measures up? Participate in our Global Manufacturing Sales Practices Study to learn how commercial manufacturing sales organizations, like yours, are addressing key trends, taking advantage of best practices and deploying new sales models. Learn more>>
How We Help Manufacturing Companies
Every Alexander Group client engagement benefits from our field tested tools, methodology and processes. Our core consulting methodology is built around our proven Revenue Growth Model™, a nine pillar approach to help our clients build smart roadmaps and realize potential quickly and efficiently. The RGM™ creates a consistent approach and a common language to identify gaps and areas of opportunity to win right now in revenue growth.
Some of our key services for manufacturing companies include:
Sales analytics and benchmarks – Sales productivity and investment analysis
- Compare your company to industry and best practice benchmarks from our extensive and proprietary database.
- Optimize expense to revenue ratios for your various businesses and across your portfolios to grow revenue faster.
Sales coverage – Equip your organization to maximize your sales ROI
- Design your sales coverage model to reach your target customers most effectively by aligning buying needs and buyer behaviors with the appropriate channels and roles.
- Layer in the correct leadership and support ratios to ensures your organization is equipped to successfully deploy today’s complex sales models.
Sales productivity – Do the right things at the right time with the right customers
- Align marketing, sales and support resources with the most profitable sales channels to increase overall productivity.
- Identify gaps in sales force execution and evaluate where you need to invest to enable your sales and support teams and partner channels.
Sales compensation – Get on track with industry trends
- Gain insight into contemporary global pay practices such as pay for programs and channel partner compensation.
- Align compensation plans with your revenue growth strategy and incentive design center practices.
Implementation and change adoption – Focus drives performance
- Provide focus and clarity on complex responsibilities with playbooks to coach, implement new processes and jumpstart transformation efforts.
- Create rules of engagement between roles and lead change adoption efforts to ensure successful implementation of recommendations.
Why Alexander Group?
Our services for the manufacturing industry address the many moving parts that comprise a functional revenue growth model in today’s manufacturing environment, ensuring that all facets of your go-to-customer organization are aligned and optimized.
Industry expertise and experience – The Alexander Group has provided executive leadership teams at dozens of global manufacturing companies with the data, insights and recommendations needed to upgrade their sales strategy and processes for revenue growth.
Case Study: Due to a shift in the economic environment and associated buying behaviors, this global industrial manufacturer sought the help of AGI to identify target opportunities and create new go-to-customer models.
Manufacturing research and global benchmarks – Our dedicated manufacturing research and industry studies provide a vast amount of proprietary data. We apply our insights to benchmarks with other companies and industries to help you see the best opportunities for investment and improvement with unique data points that are important to how you run your business. We put benchmarks in context of your current situation, helping drive confident strategy decisions.
Ongoing support for transformation initiatives – Threading the strategy, structure and management together is a key component of successful revenue enablement, and we will work with you every step of the way. We ensure that other functional areas are a part of the conversation on how the revenue team fits with the overall organization. We provide processes, guidelines and comprehensive playbooks to expedite implementation and change adoption efforts.
Our commitment to results on every manufacturing client engagement will help you and your team align your resources to meet your industry challenges and unlock revenue growth. Today.
Contact us to learn more about how Alexander Group can help improve revenue growth for manufacturing.