How to Increase Software Sales to Businesses:
How to Sell Large Systems and Professional Services
The following provides a description of our track record and the services we provide to help software companies increase their sales.
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Software Sales SUCCESS STORIES by Our Team...
| Category | Success Story |
| Rapid Sales Growth | Associate Helped Software Company Grow from $0 to $11 Million in Revenues in 3 Years. Software was in the statistics / graphics category with established, well funded competition. Executed a "chasm crossing*" approach that resulted in sales to Exxon Chemical, McDonnell Douglas and Ford Aerospace. (CH) |
| Rapid Sales Growth | Associate Helped Transportation Systems Company increase bookings from under $10 million in 2004 to over $40 million in 2005, including an outsourcing contract exceeding $25 million. Increased profit margin from 0% in 2004 to over 30% in 2005. Associate led strategy development, validation and business planning, led a reorganization initiative, and then ran the sales and services organizations while recruiting a full-time executive leader. Services and sales were improved through application of best practices, including special efforts to change focus from "one-off", custom solutions to a set of standard, core solutions. Special discipline was required to organize sales teams around selling standard solutions and keeping sales teams focused on solution selling. (MT,JU) |
| Rapid Sales Growth | As CEO, Associate Grew Startup to $8 million in revenue. Sold Company for $11 million (private company stock swap.) (CR) |
| Rapid Sales Growth | Associate Builds Niche Market from $0 to $8 Million in Two Years. Initial sale of $4,000,000 took 4 months. Subsequent sales closed over following 2 years, including an extremely profitable sole-source project. http://www.tomingraminc.com/No18Sell8Million21MillionPayback.pdf |
| Rapid Sales Growth | As VP of Sales, Associate Leads Software Company Sales from $2 Million to $75 Million in 4 Years by Narrowly Focusing on Customers with an Urgent Need to Buy http://www.tomingraminc.com/No25DocumentumSuccessStory.pdf |
| Shorten Sales Cycle |
Associate Facilitates Sale of $120,000 training and curriculum development software to GM (General Motors), 2001. Sales Cycle: 60 days. Keys: Associate helped make sure company aligned so it can deliver on its promises, very clear focus on what value is delivered to customer, everyone able to articulate the value, pick the right targets and qualify hard, make sure sales process is effective, effective overall management and metrics to make sure execution is sustained. (DS)
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| Shorten Sales Cycle | Associate Facilitates Sale of $1,240,000 project management software and services to K-Mart, 2003. Sales Cycle: 90 days. Project was to manage deployment of point of sale systems nation-wide. Got paid, even though K-Mart was in bankruptcy. Keys: Associate helped make sure company aligned so it can deliver on its promises, very clear focus on what value is delivered to customer, everyone able to articulate the value, pick the right targets and qualify hard, make sure sales process is effective, effective overall management and metrics to make sure execution is sustained. (DS) |
| Shorten Sales Cycle |
Associate Facilitates Sale of $235,000 retail banking software to UBS (United Bank of Switzerland) through a partner, 2000. Sales Cycle: 34 days. Keys: Associate helped make sure company aligned so it can deliver on its promises, very clear focus on what value is delivered to customer, everyone able to articulate the value, pick the right targets and qualify hard, make sure sales process is effective, effective overall management and metrics to make sure execution is sustained. (DS) |
| Shorten Sales Cycle |
Associate Responsible for Major Increase in a Software Firm’s Sales in One Quarter, Totaling 9 New Sales Wins, versus one the previous quarter, totaling approximately $900,000 in new 3-Year Revenue Streams, in 2004 (Post Tech-Bubble). Identified a Second Niche that Resulted in 100 Additional Sales in One Year and Doubled Revenue. Associate helped software firm, a provider of compliance management software, increase its sales through improved sales pipeline management, opportunity qualification disciplines, an improved customer fact-finding process, account strategy formulation work sessions, a tightening of market focus and an improvement in the ability of the sales team to communicate the firm’s value to customers. Round Two: After the initial success, the company lost some focus and got into niches where the value offered was not compelling. Associate then helped them find a new niche based on a super-compelling payback. Associate insisted that the business owners sign a "covenant with each other" to remain focused on a single, compelling niche. Company closed 100 new sales in the new niche in about one year, doubling revenue from previous year. (JV) |
| Shorten Sales Cycle | Associate Helps Struggling Software Firm Sell 12 New Accounts in 16 Months, Generates Over $10 Million in Revenue http://www.tomingraminc.com/No26StrugglingFirmSells12NewAcctsin16Mos.pdf |
| Shorten Sales Cycle | Associate Helps Software Company Close Six Large Sales in Eight Months (After Closing Zero Sales in the Previous 16 Months) http://www.tomingraminc.com/No24SwrCoCloses6LargeSalesin8mos.pdf |
| Shorten Sales Cycle Increased Average Sale |
Associate helped timesheet software company increase average sale from $25,000 to $250,000 and shorten average sale cycle from 180 days to 120 days in one year. Results were accomplished through reseller channel. (CH) |
| Closed Large Sale |
Associate has been selling large software systems for over 25 years. He has closed multi-million dollar software and services sales to (ranging from $1.5 mm to $2.5 mm): (ES)
|
| Closed Large Sale | Associate Penetrates a Major Account Through High-Value, Solution Selling. Initial sale of $50,000 closed in 6 months, grew to $2,000,000 in revenues at twice the competitor's margins in two years. http://www.tomingraminc.com/Newsletter16.pdf |
| Closed Large Sale by Performing as Promised | Associate Helps Save a $5 Million Project In Trouble, Resulting in $10 Million Order. Sales Cycle: 4 months to save initial project, 3 additional months to close $10,000,000 order. http://www.tomingraminc.com/No35MillionDollarProjectTurnedAround.pdf |
| Increase Profits | Associate Helped Software Company Turnaround: Repositioned company into growing, profitable Industry. Redesigned mature product used by the Insurance Industry for the fast growing Mutual Funds Industry. Regained Profitability of 14.5% for $20 million dollar company. (LM) |
| Increase Profits | Investor Associate Keeps Software Firm Profitable, Grows to $28 Million through a Narrow Focus http://www.tomingraminc.com/No23SwrFirmStartedwith1000.pdf |
| Increase Service Profits | Associate Transformed Software Services Business from Loss to 19% Profit in 6 Months. (JU) |
| Increase Service Profits | Associate Led Software Service Organization for Public Company from $0 profit to $7.6 million in profit in one year. Service Profit improvement was accomplished despite license and services revenue decline. (JU) |
| Increase Service Sales | Associate Led Growth of Software Services Organization from $10 million to $65 million in revenue in two years, contributing to sale of company for $4 billion. Raised services margin from 10% to 24% in two years. (JU) |
| Sold Company for Big Gain for Stockholders | Associate Led Growth of Software Services Organization from $10 million to $65 million in revenue in two years, contributing to sale of company for $4 billion. Raised services margin from 10% to 24% in two years. (JU) |
| Sold Company for Big Gain for Stockholders | Associate Helped Software Company Increase Its Valuation Nearly Three-Fold, to $25 Million, Resulting in Sale of the Company: Transitioned a custom development service company into a profitable product company. (LM) |
| Sold Company for Big Gain for Stockholders | Associates Started Software/Hardware/Services Company with $260,000. Sold Four Years Later for $1,750,000 (KK, JP) |
| Help Foreign Firm Sell in U.S. | Associate Helped Foreign Software Firm Sell In United States. Brought a software product that was successful in Australia to the US Market. Grew Revenues to $10 million with 24% profitability. (LM) |
| Channel Sales Success | Associate leads software development and channel efforts for firm that is profitable 5 years in a row, growing to $309 million in revenue and $27.1 million in profits. Company grew steadily and profitably over 20 years through channel partner strategy. Success with channel due to unswerving commitment to channel distribution, support of partners, understanding channel partners needs and problems. A key was recognizing that software company must be satisfied with approximately 10% of the revenue generated by channel partner sales. (NP) |
| Reduce Capital Required for New Product | Associate Helps Reduce Capital Required to Bring Software Product to Market by $14 million: Associate and CFO led effort to reduce capital required to bring software product to market. Helped operating management reduce capital required by introducing order flow thinking, accountability and professional processes. http://www.tomingraminc.com/Newsletter10HowToDigOutOfABlackHole.pdf |
Services We Can Provide...
| Item | Description / Sample | Cost |
| Initial Assessment | ||
| Begin With the End In Mind |
Review existing strategy, business plan, financial and cash flow projections Review of how company compares to top 25% Quick work up of cash flow plan to accomplish goals What are your odds of sustaining a 10% net profit? PublicSoftwareCoStudyPreliminaryFindings.pdf |
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| Quick Assessment |
Sample Report Calling for Strategy Change and CEO Evaluation (Password Needed) |
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| Full Assessment |
Outcomes Analysis [Sample analysis for $5 million in invested capital] Outcomes Analysis - Organization Impact Sample Initial Evaluation of a Software Company In Trouble (Password Required) - Attachment A: Additional Details on Recommended Steps - Attachment B: Customer Value / Success Story Matrix - Attachment C: Sales Forecast for Sales Over $10,000 - Attachment D: Summary of Precedent Research - Attachment E: Documentum Success Story - Attachment F: Some Obvious Questions / Issues: - Attachment G: Strengths of Current Situation - Attachment H: Book and Citations Relevant to Current Situation - Attachment I: Some Qualifications and Cautions - Attachment J: Sales Pipeline Needed - Attachment K: Project Plan |
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| "How You Compare to the Top 25%" Assessment | "Use a public company valuation of identical company as valuation
benchmark. [Realistically, you will have to identify a basket of
somewhat comparable companies, adjust for size, use a broad index of
companies with similar financial profiles...]" Ward Carter, Ex VP,
Corum Mergers & Acquisitions, Technology Valuation Primer for Software
CEO, 2004 Link to Top 25% Performance Page HowCompareToTop25Percent.htm |
|
| Quick Personnel Assessment | See Sample Report Calling for Strategy Change and CEO Evaluation (Password Needed) | |
| Full Manger / Executive Assessment | ||
| Market Size / Validity Assessment | Market Research Report
for Sales Automation Software
SalesSwrMktResearchReport.pdf Market Sizing Report for Sales Automation Software |
|
| Quick Estimate of Development Costs | See: Sales Swr Very Optimistic Cash Flow v5.pdf Sales Swr Optimistic Cash Flow v5.pdf Sales Swr Moderate Cash Flow v5.pdf Sales Swr Pessimistic Cash Flow v5.pdf EXERCISE: There are at least two impractical assumptions in the above cash flow analysis. Can you spot them? |
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| Quick Search of Publicly Available Research, Data, Literature | See Sample Initial Evaluation of a Software Company In Trouble (Password Required) | |
| Sales Won / Sales Lost Analysis | See informal analysis for
software company??? Very helpful to talk to former sales people |
|
| Quick Investor Search | Discuss results from motel software company quick investor search | |
| Develop the "Get Well" Plan | ||
| Create "Get Well" Work Plan | Sample Work Plan for Turning
Around a Software Company Business Plan and Controls Outline for a Software Company (Password Required) Define the "One Best, Right Measure" to base the plan upon (See large services company sales productivity measures. Probably will be profits generated from target niches.) |
|
| Identify Three Niches for Market Research / Validation | Niche Selection Keys will
be:
Core Processes and Niche Opportunities in the Consumer Package Goods Market See ideal prospect profile in Market Research Report for Sales Automation Software |
|
| Competitor Assessment | Competitive Assessment Report for Sales Automation Software | |
| Cash Flow Plan |
Cash Flow Based Planning Sample 1 (Password Needed) Cash Flow Based Planning Sample 2 - Conservative Cash Flow Based Planning Sample 3 - Optimistic See Also:Sales Swr Very Optimistic Cash Flow v5.pdf Sales Swr Optimistic Cash Flow v5.pdf Sales Swr Moderate Cash Flow v5.pdf Sales Swr Pessimistic Cash Flow v5.pdf EXERCISE: There are at least two impractical assumptions in the above cash flow analysis. Can you spot them? |
|
| Define the New Offering (Whole Product*) | See cash flow plans for
best description of how the whole product contributes to the revenue
mix. See Process Flow TO BE Large Services Co Div3 ALL.pdf for an view of what it takes to understand a prospect's problem. |
|
| Pricing Analysis and Recommendations | See cash flow plans | |
| Develop Channel Partner Plan | Note that this is NOT a "reseller" plan. This approach is based on using whole product partners as referral sources. | |
| Create Job Descriptions for Sales People or Managers | ProcedureTrainingComplianceManualExample.pdf (password required) | |
| Create Hiring Criteria for Sales People or Managers | Sample Swr Mgr Exec Eval.xls | |
| Create Assessment for Sales People or Managers | "When do you do the
demo?" test of product sale vs. solution sale. (Mike Tanner,
Adexta Consulting, Formerly of the Chasm Group, Seminar to SoftwareCEO) "You need your most expensive sales people during the early stages of the company - especially your CEO." (Mike Tanner, Adexta Consulting, Formerly of the Chasm Group, Seminar to SoftwareCEO) |
|
| Create Development Plans for Sales People or Managers | See Sample Swr Mgr Exec Eval.xls | |
| Status Reports on Development of Managers | ExecutiveDevelopmentPlanLargeServicesCoDiv3.pdf | |
| High Performance Teams Workshop |
Software Implementation
Workshop Flowchart for Bringing New Client On Board (Confidential, Password Required) |
|
| Accountability Meetings and Status Reports for High Performance Teams |
Sample Action Items, Issues and Minutes Log (Password Needed) |
|
| Operating Plans and Development Goals for Individual Departments | See Process Flow TO BE Large Services Co Div3 ALL.pdf for an view of what the departments need to accomplishing ProcedureTrainingComplianceManualExample.pdf (password required) |
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| Accountability Meetings and Status Reports on Development of Individual Departments | ||
| Create Questionnaire to Interview Target Prospects for Feedback on New Offering | Survey Questions for
Sales Automation Software
SalesSwrFeatureSurvey.pdf Question is not "would you buy?". Right questions are "Tell me about your problem. Could you see us jointly coming up with a solution to your problem? Is it worth what we need to charge?" |
|
| Identify Partners Needed | See Sales Swr Very Optimistic Cash Flow v5.pdf , average sale, sources of revenue defined at bottom of page | |
| Negotiate Agreement with Partner | Discuss range of agreements from Banyan contract to use of associates on conference calls | |
| Conduct Target Prospect Interviews | See results from Sales Software Competitor and Feature Analysis interviews | |
| Help the Sales Force Sell | ||
| Sales Organization Assessment | Before: ProcessFlowASISLargeServicesCoDiv3.pdf | |
| Pipeline / Sales Forecast Assessment |
Sales Forecast Criteria, Sample 1 (Password Needed - See also Initial Evaluation, Attachment C Above) Sales Forecast Criteria, Sample 2 (Password Needed) Qualifying Criteria for Sales Software |
|
| Sales Process Redesign | See Sample Initial Evaluation of
a Software Company In Trouble
|
|
| Oversee Sales Activity and Forecast Based on Measurable, Objective Criteria | "The only market research
that really counts is purchase orders!" (Mike Tanner,
Adexta Consulting, Formerly of
the Chasm Group, Seminar to SoftwareCEO) Measure weekly activity / time spend on leads and lead sources to make sure sales remains focused on the right niche. (Mike Tanner, Adexta Consulting, Formerly of the Chasm Group, Seminar to SoftwareCEO) Sales Forecast Criteria, Sample 1 (Password Needed - See also Initial Evaluation, Attachment C Above) Sales Forecast Criteria, Sample 2 (Password Needed) Sales Forecast and Qualifying Criteria for Sales Software SalesSwrProspectCriteria.pdf |
|
| Create Sales Activity Plan Needed to Meet Cash Flow Plan |
Sales Forecast Criteria, Sample 1 (Password Needed - See also Initial Evaluation, Attachment C Above) Sales Forecast Criteria, Sample 2 (Password Needed) See cash flow plans |
|
| "Executive Approach" Market Test | Sales Results Summary Producing
$1 Million in New Prospects in 60 Days "At this stage, it is not about leads, it is about appointments with the right people. Leads can actually be counterproductive and pull people of off focus." (Mike Tanner, Adexta Consulting, Formerly of the Chasm Group, Seminar to SoftwareCEO) |
|
| Create an "Entrée" Offering | Discuss specific "Entrée"
offerings e.g. Onsite pilot for expenses only e.g. Sales software for just the super high performing retail sales teams - at first e.g. A single document management application that produces a 30 to one payback - for a handful of people - which allowed the company to sell thousands of seats to additional users in the companies e.g. Optimize just one business process first... e.g. Low cost initial assessment workshop |
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| Create Focused Prospect List | Reducing the "Universe of Prospects" from 2,000 to 60
 CPGMfrDataHaveContactListbySalesv1.pdf (listed by largest sales) CPGMfrDataHaveContactListbyAlphav1.pdf (alphabetic listing) SalesSwrNarrowedProspect List.pdf
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|
| Solution Selling Training |
Process
Mapping and Business Analysis Training
12 Ways You Can Help Your IT Department Get It Right the First Time |
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| Business Process Mapping for Sales Consultants | Process Mapping and Business Analysis Training | |
| Secure Meetings with Prospects |
CPGMfrDataHaveContactListbySalesv1.pdf (listed by largest sales) CPGMfrDataHaveContactListbyAlphav1.pdf (alphabetic listing) |
|
| Weekly Account Planning Meeting | Measure weekly activity / time spend on leads and lead sources to make sure sales remains focused on the right niche. (Mike Tanner, Adexta Consulting, Formerly of the Chasm Group, Seminar to SoftwareCEO) Sales Forecast Criteria, Sample 1 (Password Needed - See also Initial Evaluation, Attachment C Above) Sales Forecast Criteria, Sample 2 (Password Needed) Sales Forecast and Qualifying Criteria for Sales Software |
|
| Accompany Sales Rep on Sales Call | Primary Credential:
Since
1983, Tom Ingram and his project teams have delivered over $17 million in
project contracts substantially on time, on budget and as promised.
These projects have generated some $86 million in measured benefits for
clients.
How to Turn Computer Problems into Competitive Advantage by Tom Ingram, Published by the Project Management Institute, July, 1998 |
|
| Conduct "Road Show" Workshop |
Software Implementation
Workshop Workshop for Bringing On New Clients (Confidential, Password Required) |
|
| Create Standard "Statement of Work" | May need multiple standard statements of work for specific solutions | |
| Create Standard Proposal | SOWSampleRapidSwrImplementation.pdf | |
| Create "Prospect ROI" Calculator |
Requirements Log With Business Case Business Case Payback Examples 1 Business Case Payback Examples 2 (best, password required) Discuss how Div 3 of Large Services Company achieved a payback of $10,000 per day (more than $250,000 per year) from improvements in just one process! |
|
| Create Standard Estimating Process |
HighLevelDesignOOMEstimate Checklist.pdf |
|
| Create Proposal for Specific Client | SOWSampleRapidSwrImplementation.pdf | |
| Sales Activity as Sales Agent | TIASalesAgencyAgreementv4.pdf | |
| Execute the "Get Well" Plan | ||
| Weekly Accountability Calls | Sample Action Items, Issues and Minutes Log (Password Needed) | |
| Monthly Accountability Meetings | Sample Action Items, Issues and Minutes Log (Password Needed) | |
| Status Reports | StatRptShowingCustResp AndFailure.pdf | |
| Services Costing and Profit Control System |
Texas Instruments Case:
Newsletter 15 Engineered Air Balance Case: Newsletter 14 |
|
| Candidate Quick Evaluation / Screen | Sample Swr Mgr Exec Eval.xls Discuss case of investment company replacing CEO |
|
| Develop Success Story | Case Studies & Success Stories | |
| Write White Paper / Article / Solution Notes / Market Notes | Cream and Yogurt Case Study / White Paper / Success Story Case Study 101 | |
| Get Speaking Engagement for Company Executive | Lectures Given | |
| Newsletter Publication | Case Studies & Success Stories | |
| Develop Requirements and Specifications for New Software Development | Entity Relationship
Diagram for Sales Automation Software (Original) Entity Relationship Diagram for Sales Automation Software (Simplified) SalesSwrSimplifiedFunctionChart.pdf Features / Enhancements Needed for Software SalesSwrEnhancementsNeeded.pdf |
|
| Customer Satisfaction Audit | Customer satisfaction survey (written up as case studies) | |
| Implement Systems Sold, Produce Happy Customers and Profitable Projects | ||
| Oversee Implementation |
See all other tools, techniques and services for ON TIME, ON BUDGET, HAPPY CUSTOMER: How to Deliver a Computer Project AS PROMISED |
Fast Path to Sales Increase and Six Reasons You May Not Want To Do This We can move ahead very quickly, but it is not for everyone...
Articles, Supporting Documents...
Preliminary Findings of Study of Financial Returns from 568 Software and Related Companies
Ten Year ROI Analysis for Software Industry - Wall Street Journal, Monday February 28, 2005
Key Questions for Turning Around a Software Company plus Sample Results Achieved
Study of Successful Software Companies Describes Patterns of Success Emerging for Software Companies in the Post-Tech-Bubble Economy. Summarizes findings from success stories below.
"Find The Gem" Overall Process for Shortening Sales Cycles and Improving Company Performance, Sale Value. Includes Survey Questions and "Rules of Engagement"
"Find The Gem" Initial Executive Conference Call Agenda
"Find The Gem" Workshop Workshop to Help Identify "Gems" That Can Shorten Sales Cycles
Why We Must Measure Value Produced for Customers: WSJ Article on Discounts by Software Vendors
Other Sales SUCCESS STORIES
Case Study 101 How Outsourcing Customer Service Saved $400,000 and Improved Service http://www.tomingraminc.com/CreamYogurtsuccessstoryRedacted.pdf
Newsletter 27 Software Firm Profitable for 30 Years Through Focus, Customer Service (Jack Henry) http://www.tomingraminc.com/No27JackHenryProfitable30Years.pdf
Success Story 28 Software Firm Focuses, Grows from $15 Million to $75 Million in Sales, Keys to Prospering in the Post-Dot.Com Era: Focus on Profitability and Cash Flow, Simple, Straightforward Business Plan, Staying Focused on the Plan (Docucorp) http://www.tomingraminc.com/No28DocucorpSuccessStory.pdf
Success Story 29 11.14% Average Net Return on Sales Per Year During the Difficult Past Five Years! “We are not Really a Software Company.” Firm Grows from $20 Million to $3.5 Billion in Sales, Profitable Every Quarter. (FiServe) http://www.tomingraminc.com/No29FiServSuccessStory.pdf
SUCCESS STORIES Developed to Help Clients Tell Their Story...
Success Story 301 Canadian Justice Department Saves $100,000
Success Story 302 Southwest University Saves $400,000
Success Story 303 East Coast Bank Department is Back Up in 24 Minutes After 9/11 Attack
Success Story 304 Marketing Strategy Firm Saves $50,000, Reduces Labor
Success Story 305 National Non-Profit Saves $500,000
Success Story 306 Midsize University Software Purchase Pays for Itself In Two Weeks, Defers $100,000 Expenditure
Success Story 307 Top 3 Bank Sees Dramatic Improvement in Retrieving Lost and Deleted Files, Dramatic Improvement in System Availability
Success Story 308 Consumer Package Goods Firms Saves $500,000
Success Story 309 $1.2 Million Savings over 5 Years in Disaster Recovery Costs
Success Story 310 Customer Quotes
Success Story 311 West Coast Bank SEC 17a-4f Compliant in 8 Weeks
Case Study 101 How Outsourcing Customer Service Saves $400,000 and Improves Service
Case Study 201 $942,500 in Labor Savings and $260,000 in Material Savings for Commodity Product
Case Study 202 Supply Process Reduced from 21 Major Steps to 6 Major Steps
Case Study 203 Heroic Effort Brings New Manufacturing Line Up in 10 Days
Case Study 204 On Time Shipments Improved from 70% to 95%, Misshipments Reduced from 10% to 1%, Returns Reduced from 1 in 10 to Zero
Case Study 205 Process Improvements and JIT Help Manufacturer Profitably Expand Low Margin Product Line by 5-fold!
* Much of the language and theory behind our approach was pioneered by Geoff Moore of the Chasm Group, who wrote the landmark book "Crossing the Chasm". We are indebted to, and give full credit to Geoff for his work in defining a theory that can be repeated to produce success for software companies.
