Interim Executive Case Files: VP of Sales at a Semi-conductor Manufacturer
The impact an interim VP of sales made in a semi-conductor manufacturer
This article examines the impact an interim executive had on a 10 million dollar semi-conductor manufacturer that brought in as an interim VP of sales 1-2 days a week for 4 months to help address some of their challenges.
Prior to the interim executive joining, the company was facing a number of challenges. There had been a vacant GM sales position left with no sales leadership in the company. There had been no sales in 5 months, with only 2 months of backlog and a sales lead time of 12 months. They had outdated and incomplete marketing collateral and website, and a lack of understanding of their customer and their competitors.
Implementation by the Interim VP of Sales
To help address these concerns the interim executive quickly detailed an analysis of target customers for quick sales, competitors products and how to sell against them; created a 6-steps sales process in training the sales team; created a pricing matrix for discount analysis and pricing decisions; replaced, established and set goals for field sales reps domestically and internationally. He directed the redesign of marketing collateral and the website; issued quotes and proposals to prospects, and assisted in identifying a full-time VP of sales.
Results achieved by the VP of Sales
Through all of this work, the interim executive was able to help the company achieve some impactful results. He had $7 Million in quotes issued with a high probability of closing within 90 days for 60% of them. The sales team understood and applied the processes using consistent language. Sales projections for the next 12 months in the pipeline with backups, in case a sale was lost. The client commented, “Our Interim VP of Sales clearly defined the sales process we should use to win business. We now fully understand how to transition a band new lead into a paying customer.”
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