Author Archive

Case Study: What Does Losing a Sales Opportunity Cost You?
May 12, 2010

Problem: A provider of used packaging and process equipment machinery has a top notch marketing system for generating new leads. The system also will develop and send a quote out to the prospect looking for a particular piece of machinery, then send a copy to the assigned sales executive, averaging about 200 quotes per day. The sales executives process orders from the prospects who either request more information about a particular machine or are interested in purchasing one.

The system, however, can only tell if a prospect has received and opened the quote, and the sales executives do not have the time to call them to check to make sure everything was received properly, leaving several thousands of dollars on the table from prospects who accidentally deleted the quote before saving it, who may need the quoted item but in a larger or smaller size, or want multiple units and want to see if there is a volume discount

Solution: Randolph Sterling, Inc. was hired first to find out if this company was missing out on opportunities and if so, how many. We were given access to the database of generated quotes from the 6 prior days to contact the decision maker to:

  1. confirm the quote was received
  2. answer any basic questions about the quote and their overall needs, insuring that they were quoted what they truly needed
  3. if they did need a new quote, collect the correct information so that a new quote could be generated
  4. ask if they also might have any equipment for sale

In the first two weeks of calling, we found the following:

  1. 8% of the quotes were not received by the decision maker and needed to be resent, although the system had said they had been properly delivered
  2. 5% of the prospects actually needed a different piece of equipment than was originally quoted or needed multiple pieces of equipment.
  3. Many prospects were basing their buying decision on factors such as delivery time, shipping costs, or the interest in the selling company purchasing some of their used equipment
  4. Several more prospects stated that their decision to purchase rested in the fact that our client actually took the time to follow up, where most of the other competitors did not.

The result of these calls, in just the first two weeks of the project, were over $300,000 in new sales that the client determined they would not have otherwise received.

5 Years and Counting
April 5, 2010

My five year anniversary with Randolph Sterling came and went on April Fool’s Day. For those who know me well, they might say “How appropriate.” However, I would say “How Incredible!”

My career with Randolph Sterling began as I was looking for a fresh opportunity.  The company offered me unlimited growth potential and a completely different career path, however I recall feeling hesitant to leave a position and company where I had built a solid foundation. Would a young company like Randolph Sterling really be a good fit for me, would I be successful? I was unsure of how it would all work out but I decided on a leap of faith.

Admittedly, my first year or so was a bit of a rollercoaster. There were highs and moderate lows in my learning curve, but what grew and became a certainty for me was my passion for what I was doing, and that I was pretty good at it! I no longer wondered is this the right place for me or can I succeed, but instead began thinking in terms of how far can I go and how much can I do. I truly believe in this company and all that we can do for our clients. With Rich Burghgraef’s patience and guidance I found my stride and began to share his vision for the company and future.

Today, I review the past five years. I’ve seen our company grow from a select group of Illinois based clients to a nationwide company with a vastly increasing client base. Our second office location opened in 2009 in North Carolina along with the addition of several staff members to handle sales management and inside and outside sales. In 2010 we have increased our staff size yet again and are continually adding new and valuable services for our clients, allowing me to take on even more of a managerial role where I am greatly involved in the decisions that are made for the direction of our growth.

Looking back I am amazed and proud of not only my accomplishments and growth within the company but in the company itself.

I will part with my final thought: to have survived the past 5 years with a Yankees fan alone is a feat in itself.  If I can do that, imagine what the next 5 years will bring!