A multinational tyre manufacturing company noticed their sales performance was suffering. The first response from retail business owners was to push for more sales. However, on further observation it became clear that customers were routinely bypassing premium tyres in favour of the company’s cheaper range and ‘more sales’ was not the answer.
When the client looked deeper, they were able to reveal the main reason behind their customer’s buying motivations. Many customers had no reason to choose the more expensive tyres and were not prepared to invest in something they didn’t think they needed.
On the other side of the customer relationship, shop managers and fitters didn’t feel confident communicating the value of their premium product range to customers. They felt disempowered in their interactions, not knowing how to guide and influence the buying process. Not only was customer satisfaction low as a result; pressure on staff was causing stress and discontent, negatively affecting retention rates. The business needed to act quickly to retain employees and improve their dwindling performance.
Developing Core Sales Skills
The company knew that they needed a strategy overhaul. In response to this challenge, their UK leadership team, alongside Head of Marketing for Northern Europe identified a need to create a more simplified product offering. This would be supported by a streamlined sales strategy to help improve sales performance in this fast-paced retail space. A large part of this would involve developing the core skills of all customer-facing employees so they could guide, influence and inform their customer in a more direct way.
Mindset and Behaviour Shift
To help enable and embed sustainable change in these areas, Alchemist proposed the launch of a 3-tier tailored Academy. Branded to the business, the Academy would upskill business owners, managers and fitters on ‘how to sell’ propositions. The long-term objective was to lead and drive a shift in mindset and behaviour which could consistently impact premium selling and boost staff retention long-term.
Each Academy programme kicked off with an introductory online briefing call or readiness check, engaging learners in preparation for the journey ahead. Following this, face-to-face workshops with an Alchemist facilitator enabled practice and application of specialist tools and techniques. Both managers and fitters were trained in topics such as ‘Premium Mindset,’ ‘Objection Handling,’ ‘Principles of Influence’ and ‘Confirming and Communicating,’ with additional leadership-based topics for managers.
Subsequent drop-ins at regular intervals aided and supported implementation and practical application for each tier of participants. This was all wrapped up in a coveted City and Guilds accreditation, based on evidence of improved practice and results.
Understanding the Customer’s World
The success of the Academy hinged on the four-pillar structure of Alchemist’s MAPS Learning Journey. Using a business partner approach, MAPS enables staff to communicate in a way that unlocks the world of their customer:
Mentorship – Encouraging business partner ethos amongst managers and staff
Awareness – Simplifying complex tyre technologies for communication and understanding
Performance – Providing accelerated learning designs to improve sales performance
Simplification – Distilling intricate product information into compelling value propositions
Creating a clever mix of accelerated learning designs, Alchemist delved into the complex technology of the client’s premium tyres. They simplified complex descriptions, shaping simple offerings that could be easily understood by retail tyre centre managers, fitters and customers.
Empowering Employees
Impressive results demonstrated a high return on investment from Academy training. With a significant impact on premium sales, customer satisfaction and staff retention, business goals had been surpassed. The company won 9.5% more premium sales – by simplifying their value proposition and empowering managers and leaders with a ‘Premium Mindset.’ Profit margins saw an uplift of 5.14% as more high-end tyres were sold.
Customers were able to make better-informed buying choices with greater knowledge and awareness of the benefits of the brand’s more expensive range. Simplified products also made the buyer journey easier. As a result, customer satisfaction achieved over 90%, with NPS scores rising by an impressive 7%. The impact on staff morale was notably palpable too – evidenced by a huge 20% increase in staff retention.
Improve Sales Performance With An Alchemist Sales Skills Programme
Securing sales hinges on many factors. One that is within your control is the skills and knowledge of your sales team. By developing their abilities in an academy style setting, you too can see margins and sales soar. Speak to an Alchemist to discover what a personalised school for sales skills could look like for your organisation.