Industry: Banking/Finance/Agribusiness Type: Public

Key Achievements

  • The Customer Value Proposition (CVP) and Sales Process has been adopted and supported across the business
  • Barrett together with RB leadership has influenced the adoption of a customised and sustainable approach to sales which has been imbedded through regular self-directed learning and effective coaching by sales leaders
  • The sales team is finding and winning more profitable sales with better quality clients

Business Challenge

In 2014 Bendigo & Adelaide Bank acquired Rural Finance Corporation (Vic) and merged it with Rural Bank. Both businesses had different sales models and a relatively limited range of financial products and services.

  • The challenge was to combine these two businesses in a way that leveraged their respective capabilities and create a universal sales approach that built customer loyalty and delivered a customer focused and differentiated commercial offer to the market place in the targeted segments
  • In 2015, Barrett was commissioned to help sales leadership deliver one of the four pillars of the integration strategy and reposition the combined business to grow profitably and stably in a very competitive market
  • The assignment was completed in 3 phases:
    • Phase 1 – Sales Strategy audit, sales process mapping and development of success profiles to inform a Go-to-market plan, KPIs and customised learning and development framework and journey
    • Phase 2 – Launch Sales Strategy and new CVP to whole business and start training the sales team
    • Phase 3 – Ongoing learning and development regularly reinforced with leadership coaching, pulse checks on effectiveness of sales strategy and CVP underpinned by ongoing support from CEO and leadership team

Results/Outcomes

  • Sales now exceeding budget by 30%
  • Sales team finding & winning more profitable sales with better quality clients
  • Sales pipeline filled for 24 weeks versus 14 weeks with more confirmed work
  • Customer retention has improved to 100% and Net Promoter Score has lifted significantly
  • Rural Muster project is leading a complete culture and mindset shift across the entire organisation to improve the customer experience and lift sales

Testimonials

“It is absolutely satisfying to have coached and lead a team through a Development Program, and 6 months after the last module was completed a staff member explains to your team how they have just won a significant new customer 'because of the learnings' from the Sales Essentials program. And better still when that Sales person describes precisely which elements of the Sales Essentials Program he used, and how it impacted the prospect and the eventual outcome. Thanks Jens for your effort and support in leading me and my team through Sales Essentials, it's certainly added value to our business.”

Andrew MartinRegional Manager, Rural Bank

“The Rural Muster project has taken the lead in facilitating a complete culture and mindset shift across the entire organisation to improve the customer experience and lift sales. In addition, I lead a competent sales leadership team who are coaching and leading from the front, and we have an outstanding sales score card. Barrett has provided us with robust sales systems, tools, resources and ongoing education to give us the ability to innovate, navigate and grow our business for the short, medium and long term. Personally, I got incredible value from working with Sue Barrett because:
• Sue is a future thinker who is highly tuned to the operating environment, innovations and disruptors that might influence our future
• Sue is an absolute specialist in sales, proud of the profession, champion for customer centred selling
• Sue has superior organisational and planning skills, sharp, maximises value from time, action orientation”

Andrew SmithHead of Agribusiness, Rural Bank (now Head of Business Customer, Bendigo & Adelaide Bank)