Sales and Tom Ingram Essay

2422 Words Oct 30th, 2013 10 Pages

High Impact Projects
A Newsletter About Solutions and Creating Exceptional Value

Software Company Narrows Focus from
1 Million Prospects to 40 – Closes 30 Sales in First Year!
After 3 Years of Revenues Less than $2 Million, Sales Soar to
$75 Million in 4 Years!
Systems Produce Paybacks for Clients of more than 10-to-1
Stopped Trying to Sell to Information Technology Department – Found
Line Executives With An Urgent Need to Buy
CEO Found a Way to Reduce Risk and Capture Financial Upside
A Repeatable Pattern Emerges
Compiled by Tom Ingram, PMPi

Before Jeff Miller took over as CEO,
Documentum had suffered three years of flat revenues, never exceeding $2 million per year.
After Miller took
…show more content…
It is critical to recognize that Documentum invested its precious cash in software product enhancements only for these customers. The Harvard Business Review
Case highlights a particular situation where
Documentum declined a $2 million order because it would have required them to make

Help for Struggling Software Companies 972-394-5736

Newsletter #25

July 2004

Page 2


substantial changes to their product for a customer outside of their targeted niches.
Whole Product Offering to Customer’s
Urgent Need to Buy: Documentum added a significant services component to its product offering. Rather than attempt to remain as just a “shrink-wrapped” software product company, where they sold only the software and let the customer worry about implementation,
Documentum chose to add a whole series of services, including reengineering services, to help their customers rapidly solve the entire problem. This is an important concept. By partnering with other firms that could provide part of the whole product solution, when a
Documentum salesperson called on an executive buyer, he or she was able to present to the buyer an entire solution to their urgent problem, which could be implemented rapidly, with minimal work and decision making on the part of the customer. This reduces sales cycles dramatically!

Related Documents