A business development project
Pro-Exec Limited was mandated in the following business development consultancy role.
The Problem: Sales momentum had been lost and the project was losing staff. The remaining staff did not have the gravitas and the cold-calling skill necessary to contact board members of FTSE 350 companies. The client database was unwieldy, slow and uninformative. There was no strategy to allocate necessary resources from the company to the new business. The New Business Director had other responsibilities that distracted his attention from the new business.
The Product: To market complex pension solutions to UK companies with defined benefit deficits. This necessitated the involvement of internal structurers to constantly price complex and time-consuming mortality swaps. The structurers could not allocate time to the project and were not participants in the potential profit pool.
The Clients: FTSE 350 Financial Directors, CEOs and Boards of Trustees.
The Solution: We identified the key objectives, including the creation and exploration of the customer universe for the product. This required a high level of research, the creation of a sales and marketing strategy, discussions with regulators, financial directors, CEOs and pension trustees of FTSE 350 companies. We provided the expertise of aggressive cold-calling and the gravitas to contact all of the FTSE 350 companies relevant to the project.
We redesigned the CRM to become faster, more flexible and informative, created a profit sharing agreement between the new business and the structurers and ensured that pricing the mortality swaps was only done when absolutely necessary.
Although we had no relevant experience or knowledge of the pensions industry, we learned the necessary professional specifications required to be successful in this field. We achieved serious indications of interest of £1.20-1.50 Billion of pension fund assets from a previous indication of interest of £10 million, which had taken nine months to achieve.
The Problem: Sales momentum had been lost and the project was losing staff. The remaining staff did not have the gravitas and the cold-calling skill necessary to contact board members of FTSE 350 companies. The client database was unwieldy, slow and uninformative. There was no strategy to allocate necessary resources from the company to the new business. The New Business Director had other responsibilities that distracted his attention from the new business.
The Product: To market complex pension solutions to UK companies with defined benefit deficits. This necessitated the involvement of internal structurers to constantly price complex and time-consuming mortality swaps. The structurers could not allocate time to the project and were not participants in the potential profit pool.
The Clients: FTSE 350 Financial Directors, CEOs and Boards of Trustees.
The Solution: We identified the key objectives, including the creation and exploration of the customer universe for the product. This required a high level of research, the creation of a sales and marketing strategy, discussions with regulators, financial directors, CEOs and pension trustees of FTSE 350 companies. We provided the expertise of aggressive cold-calling and the gravitas to contact all of the FTSE 350 companies relevant to the project.
We redesigned the CRM to become faster, more flexible and informative, created a profit sharing agreement between the new business and the structurers and ensured that pricing the mortality swaps was only done when absolutely necessary.
Although we had no relevant experience or knowledge of the pensions industry, we learned the necessary professional specifications required to be successful in this field. We achieved serious indications of interest of £1.20-1.50 Billion of pension fund assets from a previous indication of interest of £10 million, which had taken nine months to achieve.