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Philips Respironics

Industry:
Health Care & Life Sciences

Philips Respironics is a Fortune Global 500 company in the industry of sleep, ventilation, and home respiratory device equipment.

Highlights

  • Positively impacted $6M in total deals within four months of training
  • Doubled average deal size for high adopters of the training
  • Increased quota achievement 4.7% for high adopters, compared to 0.6% for low adopters
  • Over 95% of sales team members agreed that Power Messaging positively impacted their product differentiation and added value/practicality to their current role
  • Over 70% also said they reduced discounting and realized a faster deal velocity

Challenge

Philips Respironics was the market leader in sleep apnea products for over 30 years, but they started losing ground due to emerging competition and ever-changing health care regulations. Philips knew they had to approach their business differently if they wanted to stay ahead in the market.

Solution

Phillips Respironics engaged Corporate Visions to elevate their conversations from being product-based to solution-based, with a focus on solving their customers’ critical business issues. Corporate Visions helped Philips develop a differentiated message and train their salespeople to clearly establish value and avoid being viewed as a commodity.

Methodology

Philips accomplished their goal through a series of workshops, starting with Power Positioning to create the new message, followed by Power Messaging to train the sales team and roll out the message to the field.

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