Sometimes, acquisitions work out well, but all too often they come with problems and challenges. And often, those challenges can present problems when trying to find new business and increase sales. This is what happened with one Fortune 100 firm when they acquired a Value-Added Reseller.
Discover how LeadGen.com helped them solve the problem and fill their pipeline again!
A Fortune 100 IT firm went on an acquisition binge in the 1990s, which gave it a position in many new markets. One company they purchased had been a Value Added Reseller (VAR) of theirs that specialized in bank back office applications, a market the IT company sorely wanted to develop.
The acquisition brought with it several dozen new accounts, gaining the company a solid foothold in the market. But because of the way the deal was structured, the new division was burdened with the cost of the acquisition – which depleted their sales and marketing resources even as their sales goals were increased. Making matters worse, the name recognition of the acquirer was perceived to be a negative in the market, further ham-stringing their program.
What They Tried
The initial effort focused on having their division’s small sales staff make cold calls. But they weren’t comfortable with it, and had difficulty selling outside of their traditional money center market. And as soon as they found an opportunity, their time was consumed following it up – so their pipeline just cycled through boomand- bust phases. And most of the deals never closed.
Allocating $10,000 to an experiment with outsourced telemarketing, the company called LeadGen.com for an emergency infusion of prospecting. With many years of experience selling to financial institutions, LeadGen.com brought them into ten new banks in less than three months. Their pipeline was full, and they were on their way to making their numbers for the year.