Like many firms over the past two decades, Reed Business Information (RBI) found its sales organization straining to keep pace in a changing selling environment. As its services offerings grew more complex, and its customers more demanding, RBI made “consultative selling” proficiency a strategic initiative for the sales organization. RBI’s adoption of several selling tools helped ensure their consultative selling efforts yielded tangible outcomes. In this paper, we review RBI’s success implementing a specific tool, the Letter of Understanding (LOU) tool, used by salespeople to document their understanding of customers’ issues and needs. The LOU proved critical to the sales force’s success in assessing, qualifying, and communicating customers’ needs.
Jim Hynes
