Clients – Dynamic Funds

Client Success Story

Dynamic Funds is a leading developer and marketer of mutual funds. They partnered with DoubleDigit Sales to align their sales strategy and enhance their sales process.

“Now, sales, marketing, senior management and portfolio management all contribute to the prioritization of new products.”

– Mark Brisley, Managing Director and National Sales Manager

strategy

An Aligned Sales Strategy

process

A Process to Hold Everyone Accountable

alignment

New Products Delivered to Market Efficiently and Effectively

Alignment – The Sales Force Multiplier

At a time of unparalleled market volatility and greatly intensified competition, one of the biggest challenges faced by this market leader is, “How do we master change without changing?” It sounds like an impossible conundrum, yet Dynamic Funds is managing the balance – and thriving – thanks in part to dedicated work with the tools provided by DoubleDigit Sales’ Strategic BluePRINT.

Dynamic is one of the country’s leading developers and marketers of mutual funds. As the name suggests, the company culture is “recognize-need, do-yesterday”, and highly individualistic, with a flat management structure – diametrically the opposite of a hierarchical, process-driven organization like a modern bank. It was a shock when a bank bought the company; even more of a shock when the bank insisted that Dynamic’s overriding task was to stay the way it was. The bank wanted Dynamic’s drive and individualism as an inspiration and spur to its own people.

The problem, according to Mark Brisley, Managing Director and National Sales Manager for Dynamic, is that while everyone knew what the culture felt like, no one had articulated Dynamic’s objectives, beyond the semi-jocular “sell product, keep job”. Being bought exposed the need, not the least to customers, who wanted to know where Dynamic was heading.

Dynamic turned to DoubleDigit Sales’ BluePRINT, looking for a sales strategy that would drive its sales processes, set some boundary markers that would preserve its culture and finally, reassure customers. Instead, what the Dynamic team found was a comprehensive approach to defining objectives that provides tools and templates that will yield a sales strategy aligned:

• Up to senior management’s corporate strategies

• Across the organization to marketing and operations strategies

• Down to individuals’ personal goals and strategies

• Out to feedback from key customers

“It helped define a corporate strategy that effectively tied the go-getter culture to a better use of intelligence as it is received.”

In fact, for Dynamic, BluePRINT became considerably more than a sales strategy; rather it helped define a corporate strategy that effectively tied the go-getter culture to a better use of intelligence as it is received. Although Dynamic was fast on its feet, it was reactive and those reactions could be shaped more by circumstance than vision. “People used to say, we have a culture of change management,” Brisley notes, “but it’s more true to say we had a culture of change. We never managed it well. Now we have a document and a process that’s holding us accountable.”

The alignment brought by BluePRINT has engendered a new level of discipline in one of Dynamic’s leading competitive advantages, its ability to conceive and deliver innovative financial products. This is a skill of paramount importance in an overcrowded financial marketplace; for instance, buyers are now bombarded by over 3,200 mutual funds. Dynamic’s development process was once best described as “think of it, develop it, drop it on sales”. In the past, this has left good ideas and products gasping for air from lack of support. “Now,” says Brisley, “sales, marketing, senior management and portfolio management all contribute to the prioritization of new products.” Too many cooks? Hardly – focus and prioritization, he says, yield equally popular products with about 40% of the development effort.

Finally, there is the issue of people. Culture is people, and keeping Dynamic’s people, many of whom are long-serving, is a critical element in maintaining the culture. “A lot of them are type-A players, self-driven lone wolves,” says Brisley, “but they still want to feel connected – they still need to know, ‘What’s next?’ If you’ve got a clearly articulated statement, one or two sentences max, that clarity helps them buy in, it takes them to the next level and it helps you to keep them.”

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