“Do the right thing for your customer.”
– Sean Farrell
Does it seem counterintuitive to you that by leaving money on the proverbial sales table you could actually increase your bottom line? While it may seem that way at first glance, today’s guest shares how that is what has been happening in his business.
On this episode of Grow My Revenue I’m joined by Sean Farrell of Quality Data Systems (QDS), and he explains how they’ve used integrity-based sales to exponentially grow their company. For a few years now QDS has focused more on their clients and the solutions those clients need, that has tripled QDS’ bottom line. Listen in for real-life examples and how using an integrity-based approach to selling has created so much growth for QDS, and can for you too.
Listen to this episode and discover:
- Why doing the right thing now can lead to bigger deals in the future.
- What is integrative sales really about?
- How focusing on results generates better outcomes for them and their clients.
- Will more questions equal a longer sales cycle?
- How QDS tripled their bottom line without pursuing triple the amount of opportunities.
- And so much more…
Sean Farrell has been the CEO of Quality Data Systems for a few years now even though he never intended to go into the family business. QDS was a company his dad started in 1983, but it was his dad’s work and not of interest to Sean. Sean had other ideas: he played collegiate baseball at the University North Carolina and was later drafted by the Oakland Athletics.
When he tore up his shoulder diving for a ball in the outfield Sean went through several surgeries, none ever fixing it properly. Between the injury and the incredibly low pay of the minor leagues he opted to make some cash by going into sales.
Soon he found his competitive nature taking over and discovered his love of sales. Landing a deal was just as sweet to him as hitting a home run! Thirteen years later he is still at QDS and loving the work he does there.
When Sean’s dad started the company and still today QDS sells and services money-handling equipment for banks, credit unions, and retail. Anyone who handles cash, coin or check can be served by a product or offering QDS has available. Over the years that has evolved from desktop products to integrative systems and solutions, that integration at Sean’s behest.
On this episode of Grow My Revenue, Sean and I take a snapshot look at what QDS was doing prior to the implementation of integrity-based sales, and what they’ve been doing since implementing this new way of doing business. Plus Sean gives a real-life example of integrity based sales and how he served his clients’ needs with a much smaller monetary investment (even when he knew the client had a sizable budget for the solution).
In the past Sean and the sales force at QDS were primarily focused on price during their sales meetings. They knew what they had was generally cheaper than their competitors so the team was focused on price as a key driver during the sales cycle.
But since Sean sought out an integrity-based way of selling and trained his team in that manner, QDS has seen remarkable growth. Today they act as thought leaders in their industry and a narrower focus on their clients and the clients’ solutions to create more sales leads, more opportunities, more deals and deeper relationships with the people they serve.
Since doing so QDS has grown from two states to nine states, their direct sales growth rate tripled and last year they reached company records in revenue and bottom line. They saw a 14% increase in their top line and nearly a 250% increase in their bottom line!
Sean explains that by focusing on how QDS solved similar problems for previous clients the company presents itself in a way that opens doors with potential new clients. QDS’ approach now is simply they are there to solve the problems clients have and deliver the results the clients need. Price is rarely a key driver in those conversations today because it’s all about the value and results QDS provides, and as a result it’s actually helped QDS become more profitable.
Another surprising share on this episode is Sean’s real-life example of providing a very inexpensive solution to a client with a large budget – and how that won QDS a role as a trusted advisor to the client and led to more sales in the future.
This is an episode you don’t want to miss, especially if you’ve been considering implementing an integrity-based sales approach for your team. There’s all of that and so much more on today’s episode of Grow My Revenue!
Below are resources mentioned during the interview.
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As always, this episode provides inspiration, entertainment, and especially an actionable message that can drive remarkable results – and if you have any questions for a future episode, contact me.