TravelNet Solutions | February 17, 2020

Cottage Grove, Minn.- As part of its ongoing commitment to education and training, TravelNet Solutions is pleased to announce their next sponsored webinar with Doug Kennedy, the lodging industrys most experienced sales and guest service trainer. The webinar titled Turn Your Inbound Reservations Team Into Sales Hunters! will take place at 11:00 am CT on February 21st, 2020. To register click here.

In this webcast, Doug will present ideas for transitioning reservation agents from their farmer role into a new role as sales hunters! Presented are:

The reservations teams at most lodging companies are typically exclusively focused on responding to inbound inquiries coming in via phone, email and direct messages received on apps such as OTAs, said Doug Kennedy. Smart leaders have already taken the first step, which is sales training to help agents evolve from order takers to be order makers. Now its time to push onward to the next era.

In this webcast, Doug will present ideas for transitioning reservations agents from their farmer role into a new role as sales hunters.

KTN President Doug Kennedy is the lodging industrys leading expert in reservation sales, having conducted training for top tier companies across all market segments for over two decades. His hotel clients have ranged from five-star hotels as large as The Venetian Las Vegas (7,000+ rooms) to small luxury inns such as the Castle Hill Inn Newport, RI (35 rooms). He has extensive experience in training non-traditional segments such as all-inclusive resorts, historic inns, ski lodges, and vacation rental companies. Over the years he has conducted corporate sponsored training for most of the major hotel brands.

We know how important agent optimization is for both inbound and outbound calls, said Ryan Bailey, TravelNet Solutions CEO. Whether or not you are using TRACK Pulse, Dougs first webinar of 2020 will offer great guidance on how to train reservation agents on closing outbound revenue.

To register for the webinar click here.

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TravelNet Solutions and Doug Kennedy Announce Upcoming Webinar for February 21st - Hotel-Online.com

Plug in America, a group that advocates for electric vehicles in the US, has announced a nationwide campaign to train car dealers how to sell electric cars. Any interested dealer can sign up for the course on Plug In Americas websiteand start getting training on how to better sell electric cars.

Plug In America has been running the PlugStar dealer program since 2016. Until now, it was only available in a few states and cities.

PlugStar has trained over 100 dealers and 1,000 dealer and manufacturer staff in that time, and so far its been quite a success. Plug In America says dealers that have received PlugStar training sell 4x as many EVs as their counterparts, and their customers are twice as satisfied with the sales experience (70% gave a 5-out-of-5 star rating to PlugStar dealers, versus 35% for non-PlugStar dealers).

Since electric cars work differently than gas cars and have different advantages, dealers need to know how to talk about these things with customers, and how to set expectations properly so customers are comfortable and prepared for their new vehicle.

But most dealers dont know these things, and as a result they end up pushing customers away from electric cars. With the notable exception of Tesla stores, dealers quite often show little knowledge and interest about the electric vehicles they have on the lot, if any.

If dealerships dont talk much about EVs, its hard for people to learn about them. The dealerships are the gatekeepers to EV adoption, and for the most part, so far, they have been stingy with the keys to that gate. So stingy, in fact, that Tesla, the one company with its own trained sales staff, sells more cars than the rest of the industry combined. Surely a large part of the reason for this is because Teslas dealers dont anti-sell their EVs.

It has even become an issue for manufacturers. Weve spoken with several manufacturers that cite dealerships as an obstacle to their own EV sales, with the dealers showing a lack of training and interest. VW and Ford just committed to fund their own dealersto try to get them up to speed before their new EVs launch.

Because of this, so far, EVs sell mostly by word of mouth. When your neighbor or friend gets one and cant stop raving about it, then you start to consider getting one yourself. Or maybe you talked to an owner at Plug In Americas Drive Electric Week, an international event of community gatherings where you can meet EV owners and talk to them about their cars. Or you learned about them from a website like ours, staffed by EV drivers who know the ins and outs of ownership.

But thats mostly because dealersdont try to sell EVs, leaving owners as the only ones actually putting effort into selling them.

Worse than that, dealer associations even try to stop EV companies from selling EVs. Tesla has encountered lots of roadblocks put up by dealership associations, and yesterday we reported on Rivian encountering the same resistance in Colorado.

Even for brands that do sell electric cars, the EV dealership experience isnt great. Electrek staff have encountered this poor experience ourselves, and were sure many of our readers can relate. Feel free to tell us your stories in the comments below.

This isnt to say that all dealership experiences are bad. There are some dealerships that specialize in EVs, and those dealerships tend to do well. Those dealerships tend to be in places where EVs are already popular, though, which doesnt help EV penetration in places where its still lacking.

All of these are reasons that Plug In America has decided to get involved nationally in helping sell EVs better.

Plug In America cited more data in their decision. A recent Cox Automotive report showed 3 out of 4 EV buyers said the dealer or salesperson strongly influences their purchase decision. The same report found that two-thirds of dealers receive some to no support for marketing and selling EVs from the manufacturer.

Our work has shown that salespeople who are more confident talking about EVs with their customers end up selling a lot more EVs, said Plug In America executive director Joel Levin. I can think of no better way to accelerate this movement than by making our proven PlugStar training widely available to dealers across the country. Many new EV models will be available in the coming months, and dealers need to be ready to sell these cars.

Plug In Americas new EV sales training program has a registration fee of $295 for a single seat and $995 for a multi-seat course intended for dealers. Theres also a regional EV specialist certification program in San Diego for $1,995, which adds additional training including region-specific information and is partially funded by local utility SDG&E. Plug In America is headquartered nearby in Los Angeles.

You can find out more about the new program here.

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Plug In America will fix the No. 1 EV adoption hurdle: car dealers - Electrek

Saturday will mark 40 years since a group of college kids from the United States defeated the Soviet Unions hockey dynasty, 4-3, in the Miracle On Ice, forever inserting themselves into history on their way to a gold medal at the 1980 Winter Olympics in Lake Placid.

Captain Mike Eruzione scored the winning goal. Jim Craig played every minute possible between the pipes. Dave Silk and Jack OCallahan helped, too, to make the miracle happen. Four boys from Boston, affectionately dubbed Bostons Boys of Winter by The Athletics Steve Buckley, had their lives forever changed on Feb. 22, 1980.

Heres what they told The Athletic about the past four decades.

Eruzione grew up in Winthrop, and thats where he brought his gold medal when he returned from Lake Placid at the age of 25. As one of just five players on the team not drafted to the NHL, he retired from competition after the Olympics, going on to broadcasting and coaching at his alma mater, Boston University. He married his high school sweetheart and raised three children.

I bought a house two doors from the house that I grew up in, Eruzione said. My mother-in-law lives around the corner, my cousin Tony lives next door. My brother lives down the street.

The only difference is that I live in a bigger house than if we didnt win the gold medal.

Eruzione balances his job as the director of special outreach at BU with personal appearances. His memoir, The Making of a Miracle: The Untold Story of the Captain of the 1980 Gold Medal-Winning U.S. Olympic Hockey Team was published in January.

The only member of the team from Boston proper, OCallahan grew up in Charlestown and graduated from Boston Latin School before a four-year career at Boston University. He injured his knee in exhibition play at Lake Placid, and returned for the instant classic medal-round game.

A Blackhawks draft pick, he played in the AHL before making his NHL debut in 1982, eventually retiring in 1989.

None of this went according to plan. OCallahan, who was 22 at the Olympics, never wanted to leave Boston, and wanted to enroll in business school to start a career in real estate. After a chance meeting, Walter Payton helped OCallahan get started in the field in Chicago.

That was a Saturday night, and he took my number, OCallahan said. And he called me the next day and said, You have a meeting with this guy, hes a board member of the Chicago Mercantile Exchange. And he said, Call me back and let me know how it went. I mean, Walter Paytons asking me to call him back. Thats like Tom Brady asking you to call him if youre a kid in Boston.

He worked for the Chicago Mercantile Exchange before starting his own company, Beanpot Financial Services, with 1980 teammate Jack Hughes. He now works for Ziegler Capital Management and has relocated to Jacksonville, Fla.

I had a plan, OCallahan said. I knew what I wanted to do, and in a way, the Olympics got in the way of that. And then life kind of got in the way of that, and thats how you end up doing things you didnt plan on doing.

After Lake Placid, Silk, from Scituate, spent seven years in the NHL, including parts of two seasons with his hometown Bruins. With his 1980 teammates, he took part in the 2002 Olympic torch-lighting ceremony, where he interacted with world leaders, astronaut John Glenn, and singer LeAnn Rimes all because he had played hockey. He now works in management with Aberdeen Standard Investments.

You do have to move on, said the BU alum, who was 22 at the Olympics. I remember thinking, Well, Im really grateful that I was part of this and fortunate to have been there. But I also had the next 50 or 60 years of my life to fill. And at some point, I was going to have to buckle down and figure out what I was going to do, and being on that team was a nice calling card.

When youre introduced to people, and Eruzione says this a lot, its one of the few times in history where people remember where they were when something good happened. So its a blessing. Its a blessing for sure.

The Easton native made his NHL debut with the Atlanta Flames at age 22, stopping 24 of 25 shots faced against Colorado just six days after the Olympics. It was the only ending that made sense for what had been a whirlwind year capping a full season for BU with 48 games as a member of the Olympic team.

Within a week I was on the cover of Sports Illustrated, Craig said. And then I join the Flames, not knowing anybody on the team. I didnt even know what end to skate out to.

Now, Craig works out of Florida for his company Gold Medal Strategies, offering sales training and leadership development.

No member of our team would ever be the same because of the Olympics, Craig said.

You can read the full article from The Athletic here.

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We went through this portal from boys to men: Boston skaters on life after the Miracle on Ice - Boston.com

In Tech there is so much emphasis on claiming that your new solution will disrupt the status quo, that much of the fundamentals of building a great brand never get considered. So often do great solutions suffer from poor communication due to a misunderstanding of how people learn about new technology in a business setting.

The foundation of any great branding exercise is to take that long list of features and simplify the message. People really can't grasp more than three or four big concepts at one time. And without letting your audience grasp those initial concepts, all the details become a big ball of confusion.

So, step one is to literally lay out all the features that you are in love with and must be explained in that 50-slide presentation, and sort them into a hierarchy to build a story around three or four big ideas. Those are your talking points - the things you present and want people to remember in your initial presentation; product collateral, website copy, even sales training. All those features you just sorted are the support points that get explained when you are granted the two-hour deep dive review.

Next, position your big concepts within the context of the industry as it stands today. Unless you have just discovered a new planet in the solar system, you have probably found a better way to do something than an entire industry of companies. And that's a good thing! It's much easier to explain that your better solution competes with others. Putting your solution into context with the current industry helps your customers understand your message since it allows them to leverage what they already know to learn something new.

With this industry positioning, you should now select one overriding concept that being the most important competitive differentiator - and create a memorable brand for it. As an example, at an analytics company I worked for, we introduced a suite of software products that provided 3D personalization. it was the only system that could determine the right product, at the right price, at the right time (the three dimensions). This was immensely effective as it telegraphed the positioning and benefits of the entire suite with a simple concept and memorable phrase.

Another extremely important exercise is to define your solutions practical application within the clients organization. Most people need help envisioning how to leverage your solution, and simply saying that it will speed up processing time or improve customer engagement are meaningless statements unless you explain how. Taking the time to explain in sufficient detail how your solution can be used is much more impactful. In addition to actual case studies, which are the bedrock of credibility for a new solution, developing a few relevant detailed use cases will enable your customer to envision the tangible uses of your solution no imagination necessary.

Finally, and this is a big one, there must be a clear statement of why the customer needs your solution. So often technologists are so focused on the features of the product, that not nearly enough attention is paid to the business rationality for purchase. For example, you must not only think about how the solution solves a problem, but also what the business outcome will be. At some point, your client will need to justify the purchase of your solution, which will only come from either increasing revenue or reducing expense. Of course, there are other business objectives, but few programs are initiated without a strong ROI story. Helping your client understand the business benefits are a crucial part of any sales process.

Since you have focused your messaging and branded a few key concepts, youll be able to effectively translate a great creative in advertising, digital marketing, and elsewhere. Integrated omnichannel marketing campaigns are the most impactful, so when you undertake them, message discipline is important. When I see the same message in multiple media, like banner ads and then in an email, I take notice dont you? The important point is that the same (or very similar) message is repeated.

Great technology brands are built on great concepts that address a compelling issue, which customers are willing to spend money on. The best way to communicate this is to simplify the message, put it into a context, and brand it to help them envision the uses and benefits they will enjoy.

About the Author George Ravich is a veteran of the FinTech and InsurTech industries, having been CMO of several industry-leading companies. He now has his own marketing consulting firm, Ravco Marketing LLC, which is focused on building the marketing foundation for high-growth tech companies.

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The Foundation of Building a Great Tech Brand - TechDay News

E Ryan T. Sauers Author's page

Ryan T. Sauers has spent 25 years leading and/or consulting with printing, graphics, promotional and visual communications related organizations. Ryan is President of the independent consulting firm, Sauers Consulting Strategies, founded in 2010.

Key areas of focus of the firm include: sales training, marketing strategy, personal branding, leadership development and organizational change.

Sauers is a frequent national speaker and columnist. He has been recognized as one of the top 80 CMOs in the world and achieved the top designation of Certified Marketing Executive through Sales and Marketing Executives International.

Sauers is an adjunct university professor teaching leadership and communication courses to current and aspiring leaders. He is a Certified Myers Briggs, DiSC and Emotional Intelligence Practitioner (one of few in US to achieve all 3 rigorous certifications related to human communications, personality & behavior).

Sauers is working on his Doctoral degree in Organizational Leadership and hosts a radio show in Atlanta (Marketing Matters). He is author of the best-selling books Everyone is in Sales and Would You Buy from You? More info at: RyanSauers.com

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Want to Grow Your Sales? Learn the Shiver Model - Printing Impressions

Virtual Reality in Medical Education and Training Market Outlook: Business Overview, Industry Insights, Upcoming Trends

This report highlights market dynamics involving factors driving the Virtual Reality in Medical Education and Training Market industry scenario, as well as market growth opportunities in the coming years. Market segmentation analysis was performed through qualitative and quantitative research, demonstrating the impact of economic and non-economic aspects.

The report includes various factors such as executive summary, global economic outlook and overview section that provide a coherent analysis of the Virtual Reality in Medical Education and Training market. Besides, the report in the marketplace overview section defines PLC analysis, PESTLE analysis and Porters Five Force analysis that helps in revealing the competitive scenario with regards to the concurrent market revealing the probable scenario of the market.

Besides, the global Virtual Reality in Medical Education and Training market report bestows significant information about the segmentation, distribution network, estimated growth trends, monetary and commercial terms, and many other crucial components relevant to the market.

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The major manufacturers covered in this report: CAE, Immersivetouch, Mentice, Mimic Technologies, Simbionix, Surgical Theather, Virtamed, VR Simulators, Zspace

Market segment by Type, can be split into: Hardware, Software and Service

Market segment by Application, can be split into: Medical Education, Training

Regional Analysis in the Virtual Reality in Medical Education and Training Market The biggest demand for Virtual Reality in Medical Education and Training from North America, Europe, and countries, like China. Asia-Pacific is home to the worlds fastest-growing market for Virtual Reality in Medical Education and Training, which is reflected in the size of its industry and the rapid rate of expansion in output over recent years. Currently, different companies are aiming to produce Virtual Reality in Medical Education and Training in many other countries, with current and new areas and projects that are undergoing continuous exploration and feasibility tests.

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There are 15 Chapters to deeply display the global Virtual Reality in Medical Education and Training market.

Chapter 1, to describe Virtual Reality in Medical Education and Training Introduction, product scope, market overview, market opportunities, market risk, market driving force; Chapter 2, to analyze the top manufacturers of Virtual Reality in Medical Education and Training, with sales, revenue, and price of Virtual Reality in Medical Education and Training; Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue, and market share; Chapter 4, to show the global market by regions, with sales, revenue, and market share of Virtual Reality in Medical Education and Training, for each region; Chapter 5, 6, 7, 8 and 9, to analyze the market by countries, by type, by application, and by manufacturers, with sales, revenue and market share by key countries in these regions; Chapter 10 and 11, to show the market by type and application, with sales market share and growth rate by type, application; Chapter 12, Virtual Reality in Medical Education and Training market forecast, by regions, type and application, with sales, and revenue; Chapter 13, 14 and 15, to describe Virtual Reality in Medical Education and Training sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

With this Bulk Virtual Reality in Medical Education and Training market report, all the participants and the vendors will be in aware of the growth factors, shortcomings, threats, and the lucrative opportunities that the market will offer in the near future. The report also features the revenue; industry size, share, production volume, and consumption in order to gain insights about the politics and tussle of gaining control of a huge chunk of the market share.

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Acquire Market Research is a market research-based company empowering companies with data-driven insights. We provide Market Research Reports with accurate and well-informed data, Real-Time with Real Application. A good research methodology proves to be powerful and simplified information that applied right from day-to-day lives to complex decisions helps us navigate through with vision, purpose and well-armed strategies. At Acquire Market Research, we constantly strive for innovation in the techniques and the quality of analysis that goes into our reports.

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Virtual Reality in Medical Education and Training Market Size 2026 Global Industry Sales, Revenue, Price trends and more - Keep Reading

TheGlobalInformation Security Training Market 2020by Manufacturers, Regions, Type, and Application, Forecast to 2026Research Report 2020 introduces the basics: definitions, categories, market review, product specifications, arrangements, procedures, development and so forth. Beginning with an exploration of the current state of the Information Security Training market, the report goes continues to discuss the dynamics affecting each segment within it.

The report begins with a brief summary of the global Information Security Training market and then make progress to rate the important trends of this market. The basic patterns changing the dynamics of the market such as current affairs, drivers, restraints, opportunities, limitations, and dangers are examined. The Important sections and sub-sections that represents the current Information Security Training sector are clarified in this report.

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Scope of the Report:

This report focuses on theInformation Security Trainingin the global market, especially in North America, Europe, and Asia-Pacific, South America, Middle East, and Africa. This report categorizes the market based on manufacturers, regions, types, and applications.Eventually, the report studies the important region market requirements including merchandise price, capacity, distribution, profit, production, market and demand growth speed, and projection.

Global Information Security Training Market 2020 covers following Leading Manufacturers: Offensive Security, SANS Institute, Cybrary, Penetration Testing and Security Service, Udemy, Sense of Security, Rapid7, Shearwater Solutions, Content Security Pty Ltd

Information Security Training Market Segment by Type: Full-time, Part-time, Online

Applications can be classified into: Large Enterprises, Small and Medium-sized Enterprises (SMEs)

Reviews from Industry pros correlation, regression, and time-series models are part of the secondary and primary research that offers an insightful analysis of the Information Security Training industry trends. The report classifies the market size (value & volume) by manufacturers, type, application, and region.

The Information Security Training business study supplies an executive-level routine of this market which helps customers to create strategies to expand their market strategies.The next section features key players in the Information Security Training industry that provides an extensive analysis of price, cost, gross, revenue, product picture, specifications, company profile, and contact information.

Market segment by Regions/Countries, this report covers :

North America(United States, Canada, and Mexico) Europe(Germany, France, UK, Russia, and Italy) Asia-Pacific(China, Japan, Korea, India, and Southeast Asia) South America(Brazil, Argentina, Colombia, etc.) Middle East and Africa(Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

The report predicts the future development of the market on the basis of Information Security Training information integration, abilities, and significant breakthroughs. All these key measures will help newcomers as well as existing players to know the market competition more exceedingly. Different techniques including customer analysis, competition and risk analysis, opportunity analysis, marketing mix modeling and more were used while preparing this research document.

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There are 15 Chapters to deeply display the globalInformation Security Trainingmarket.

Chapter 1, to describeInformation Security TrainingIntroduction, product scope, market overview, market opportunities, market risk, market driving force; Chapter 2, to analyze the top manufacturers ofInformation Security Training, with sales, revenue, and price ofInformation Security Training; Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue, and market share; Chapter 4, to show the global market by regions, with sales, revenue, and market share ofInformation Security Training, for each region; Chapter 5, 6, 7, 8 and 9,to analyze the market by countries, by type, by application, and by manufacturers, with sales, revenue and market share by key countries in these regions; Chapter 10and 11, to show the market by type and application, with sales market share and growth rate by type, application; Chapter 12,Information Security Trainingmarket forecast, by regions, type and application, with sales, and revenue; Chapter 13, 14 and 15, to describeInformation Security Trainingsales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source

Lastly, with a team of vivacious industry professionals, we offer our clients with high-value market research that, in turn, would aid them to decipher new market avenues together with new strategies to take hold of the market share.

About us:

Acquire Market Research is a market research-based company empowering companies with data-driven insights. We provide Market Research Reports with accurate and well-informed data, Real-Time with Real Application. A good research methodology proves to be powerful and simplified information that applied right from day-to-day lives to complex decisions helps us navigate through with vision, purpose and well-armed strategies. At Acquire Market Research, we constantly strive for innovation in the techniques and the quality of analysis that goes into our reports.

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Global Information Security Training Market 2020 Top Manufacturers Offensive Security, SANS Institute, Cybrary, and more. - Nyse Nasdaq Live

The report provides the past as well as present growth parameters of the global Hydraulic Injection Machines Market. The report features important and unique factors, which are expected to significantly impact the growth of the global Hydraulic Injection Machines market throughout the forecast period 2020-2025.

The report presents a comprehensive scenario of the market so as to calculate the market size, based on the way of study, synthesis, and summation of data from multiple sources.

TheMajorPlayers Covered in this Report: Arburg, The Japan Steel Works, Toyo Machinery & Metal, ENGEL Holding, Haitian International Holding, Nissei Plastic Industrial, Chen Hsong Machinery, Guangdong Yizumi Precision Machinery, Husky Injection Molding Systems& More.

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Segment by Type Horizontal Injection Machines Vertical Injection Machines Other

Segment by Application Automotive Aerospace & Defense Medical Devices Other

Each segment of the report exposes basic data about the worldwide Hydraulic Injection Machines market that could be utilized to guarantee solid progress in the coming years. Our remarkable mix of necessary and optional research systems helped us to perceive shrouded business openings accessible in the worldwide Hydraulic Injection Machines market, other than gathering huge bits of understanding of market members and getting exact market data. It includes a few research concentrates, for example, fabricating cost examination, outright dollar possibility, estimating inquiry, organization profiling, creation, and utilization examination, and market elements.

Regional Analysis For Hydraulic Injection Machines Market:

North America(United States, Canada, and Mexico) Europe(Germany, France, UK, Russia, and Italy) Asia-Pacific(China, Japan, Korea, India, and Southeast Asia) South America(Brazil, Argentina, Colombia, etc.) Middle East and Africa(Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Hydraulic Injection Machines are as follows:

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The leading competitors functioning in the Global Hydraulic Injection Machines Market are focusing on expansions, product launches, mergers and acquisitions (M&A), partnerships, and collaborations as their key business strategy to survive in the competitive market. The report analyzes and studies the industry players and their strategic moves to sustain in this market.

The key takeaways from the report:

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Contact Us Jay Matthews Direct: +1 513 549-5911 (U.S.) +44 203 318 2846 (U.K.) Email: [emailprotected]

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New study: Hydraulic Injection Machines Market forecast to 2025 | Arburg, The Japan Steel Works, Toyo Machinery & Metal, ENGEL Holding, Husky...

The Challenges Facing the CXO

The sales and marketing world is experimenting with new organizational forms that are intended to transform sales, marketing, and service in ways that accelerate growth and address the needs of digitally enabled customers.

Almost a third of organizations do not have a Chief Marketing Officer (CMO) according to Spencer Stuart.Instead, organizations like Coke, J&J, Kimberly Clark, Lyft and Uber are folding the marketing function into new CXO life forms Chief (Growth, Revenue, Commercial, Experience, or Customer) Officers that have a mandate to unify and coordinate sales marketing and service organizations into a high-octane growth machine.

71% of the remaining organizations claim that their CMOs are highly integrated and cooperative with their partners in sales according to the Duke CMO survey.These empowered CMOs realize that growth has become a team sport because even the most powerful CMOs must work much more closely with the leaders of sales, analytics, digital channels, product innovation, and channel partners to effect growth according to Professor Kim Whitler of the Darden School of Business.

The forces behind this reconfiguration of sales, marketing, and services are undeniable and well understood.

The name of the title of the unified executive growth leader does not particularly matter. Fundamentally, all these new CXO roles have the mandate to deliver one unified customer journey to grow revenues, profits and firm value by maximizing Return on Marketing Investment (ROMI), the Customer Experience, and Customer Lifetime Value. Armed with advanced analytics, 7,040 marketing technology solutions, storytelling content, and value selling methodologies they must find ways to get marketing, sales and service silos working as a team against a common purpose.

There is absolutely no doubt this transformation must happen.And a new form of growth leader is needed.

But putting a new box on the organization chart might not be the best place to start.And a new job function and change in span of control alone will not facilitate the change needed to truly transform the go to market system in ways that grow revenues, profits and firm value.

The reason is that these new organizations ignore five painful truths about what it is really going to take to transform the go to market system and enable revenue growth across the enterprise.Without these five ingredients, a functional change alone will not yield scalable and sustainable growth.

1.Leadership Successful sales and marketing transformation will require new skills and leadership approaches. Leaders must be coaches that find ways to get dogs and cats to work together. They must also understand how to use data, information and technology as a force multiplier.

2.Teamwork A new managerial architecture for breaking down organizational silos and fostering teamwork across sales, marketing, and service at scale across the enterprise is needed. Old hierarchical command and control approaches will be too slow, culturally toxic, and introduce too many points of leakage and failures as revenue opportunities move across functions.

3.Common Incentives Teams fail without a common purpose. There can only be one common and agreed upon scorecard for success tied to firm value and financial performance if all these disparate functions and armies of customer facing employees are going to work together in any meaningful way.Hierarchical, functional, funnel, and waterfall metrics based on linear sales funnels and independent functional roles will fail to either foster teamwork or address current customer behavior.

4.Horizontal Information Sharing All customer facing employees need a fully transparent, 360-degree view of the entire buying journey available in real time if they are going to play like a team. Sharing information across the enterprise to inform and support teams from across geographies, business units, and market segments is now the key to growing revenues, profits, competitiveness and share price according to the Forbes Real Time Marketing Accountability report. Organizations must act on buying signals, location-based opportunities, or churn triggers in service within minutes instead of hours or days. For example, getting data and analytics to track results was the number one challenge and biggest skill gap facing organizations trying to implement ABM programs according to ITSMA.

5.Return on Selling Assets These leaders need to use technology as a force multiplier and team enabler if they expect to succeed by dramatically increasing historically low levels of salesperson productivity, technology adoption and return on selling assets - content, technology, data and automation. To do so, they must find ways to use AI-driven sales tools and workflow automation to automatically enforce new sales methodologies into daily practices, input data into CRM profiles, and deploy all the expensive content, thought leadership, and playbooks created by marketing.

Surprisingly, the loudest voices advocating organizational change are technology providers, technology analysts and early adopters of those technologies most of whom are small start-ups with simple organizations. They hail the emergence of the Chief Growth Officer function along with functional manifestations such as sales enablement, revenue operations, marketing operations, etc. as the catalyst for a new era of sales and marketing transformation and enlightenment.

All this heat about Revenue Enablement ignores the long and sorted history of sales and marketing transformation and automation and the fundamental challenges of scaling teamwork in a large enterprise. CXOs need to remember:

Until the fundamental issues of leadership, teamwork, common incentives, and information sharing are addressed head on progress will be slow. Results will be spotty. Experiments will fail. And people will be fired.Already, both Coke and Paypal have backed away from their CXO functional experiments and reestablished the CMO role. At the same time, more CMOs are getting fired and median job tenure remains at just over two years as organizations struggle to align the role and expectations of the job with the reality ofhow the go-to-market model is evolving.

Clearly the transformation of sales, marketing and service is in its early days.Most organizations lack experience mastering the people, process, technology and incentives that make up Revenue Enablement. Most Account Based Marketing (ABM) initiatives are only in their first year and these have proven difficult to scale to more than a few dozen accounts. And while most marketers are prioritizing AI in sales and marketing, few have really mastered it.

But the imperative of Revenue Enablement to transform sales, marketing and service is not going away.

To better understand and address this issue, I am working with growth leaders to lead a Proving the Value of Revenue Enablement research initiative to better understand and address these key points of leverage and success.I invite transformation minded CXOs, CMOS, CSOs and CEOs to participate and share in the learnings.

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Proving The Financial Value Of Revenue Enablement - Forbes

Feb 18, 2020 (Thomson StreetEvents) -- Edited Transcript of Electromed Inc earnings conference call or presentation Wednesday, February 12, 2020 at 1:30:00pm GMT

Electromed, Inc. - CFO, Principal Accounting Officer & Financial Controller

* Kathleen S. Skarvan

Electromed, Inc. - CEO, President & Director

The Equity Group, Inc. - VP

Greetings, and welcome to the Electromed, Inc. Second Quarter Fiscal 2020 Fiscal Results Conference Call. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Kalle Ahl of The Equity Group. Please go ahead.

Kalle J. Ahl, The Equity Group, Inc. - VP [2]

Thank you, Kevin, and good morning, everyone. Electromed's second quarter fiscal 2020 financial results were released yesterday after the market closed. A copy of the earnings release can be found on the Investor Relations section of the company's website at http://www.smartvest.com.

As a matter of formality, I need to remind you that some of the statements that management will make on this call are considered forward-looking statements, including statements about the company's future operating and financial results and plans. Such statements are subject to risks and uncertainties that could cause actual performance or achievements to be materially different from those projected. Any such statements represent management's expectations as of today's date.

You should not place undue reliance on these forward-looking statements, and the company does not undertake any obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to the company's SEC filings for further guidance on this matter.

Joining us from Electromed this morning are Ms. Kathleen Skarvan, President and Chief Executive Officer; and Mr. Jeremy Brock, Chief Financial Officer. Kathleen will begin with some opening remarks, after which Jeremy will present a summary of the company's second quarter fiscal 2020 financial results, and then we'll open the call for questions.

Now it's my pleasure to turn it over to Kathleen.

Kathleen S. Skarvan, Electromed, Inc. - CEO, President & Director [3]

Thank you, Kalle. Good morning, everyone, and thank you for joining us to discuss Electromed's second quarter financial results.

We delivered another strong bottom line performance in the second quarter, as our net income for the period nearly tripled to $1.2 million compared to $381,000 in the same period last year, driven by 7 -- driven by 6.7% revenue growth and substantial operating margin improvement.

Starting with our home care business, net revenue increased 4.6% year-over-year despite some open sales territories, which we are in the process of filling, and despite having approximately 10 fewer direct sales employees in the field compared to the prior year period, contributing to the flat referral growth. At quarter end, our field sales employees totaled 40, of which 34 were direct sales compared to 52 at the end of the second quarter of fiscal 2019, of which 44 were direct sales. Our plan remains to peak at approximately 38 direct sales reps in fiscal 2020.

Our home care revenue growth this quarter was moderated by some pockets of weakness in our Central territory in November, but we were pleased to see referrals in this region and throughout the country steadily rebound in December and January.

In the quarter, we benefited from a higher average selling price per device due to payer mix, and importantly, from improved sales force productivity, driven by strong performance from our longer-tenured sales reps. We produced approximately $938,000 of annualized home care revenue per direct field sales employee, well ahead of the comparable figure of $687,000 for the second quarter of fiscal 2019 and above our target range of between $750,000 and $850,000. We remain confident about meeting or exceeding our target productivity levels for the full fiscal year.

Our growth strategies are focused on increasing referrals in adult pulmonology, or specifically, those with bronchiectasis; enhancing patient and provider support to provide best-in-class customer care; expanding and promulgating the body of clinical evidence to increase utilization of SmartVest for patients with bronchiectasis; continuing to develop innovative device features; and growing institutional market share to support home care growth.

Specifically, expanding the body of clinical evidence to increase utilization of SmartVest for bronchiectasis patients to drive home care revenue growth, we expect to launch our new study as further validation of the first of its kind independent study published last year in BMC Pulmonary Medicine, which concluded that early initiation of therapy with SmartVest decreases severe exacerbations, reduces antibiotic use and stabilizes lung function for bronchiectasis patients.

In particular, we have begun enrollment this month on a prospective multisite bronchiectasis outcome study using SmartVest as an algorithm of care. The study will follow patients over a 1-year period, tracking their lung function, hospitalizations and antibiotic use, and compare these same metrics taken prior to employing an algorithm of care, including SmartVest.

This quarter, we plan to launch our enhanced SmartVest Connect patient user experience, the Bluetooth-enabled mobile applications. The SmartVest Connect mobile applications will allow our patients to more seamlessly connect with their SmartVest therapy and offer new capabilities designed for mobile, including setting personal therapy reminders and real-time therapy monitoring.

Our institutional business logged another strong performance, with revenue up approximately 23% compared to last year's second quarter, driven primarily by higher average selling price. Moreover, we believe our institutional reflects -- results reflect our intensified strategic focus on the hospital call point, combined with stronger relationships with the integrated delivery networks, better sales training and our first-rate SmartVest device.

As a reminder, growth in our institutional business should augment our home care revenue as the high-frequency chest wall oscillation, or HFCWO, brand used in the hospital is often the default brand described when discharging a patient.

Lastly, this quarter, we reported home care distributor revenue of approximately $131,000. To reiterate, we intend for our direct sales channel to remain our primary sales channel. We recently hired a regional sales manager who will manage our Western region direct sales reps and lead the development and execution of the home care distributor channel in the Western United States. We believe the home care distributor channel is complementary to our core business, particularly in those areas of the country where our SmartVest brand is under-recognized and we see opportunities for accelerating growth on a supplemental basis.

Shifting to the bottom line. We achieved strong second quarter net income of approximately $1.2 million or $0.14 per diluted share, underscored by significant operating margin improvement to 18.3%. Higher revenue, higher gross margin and lower SG&A expenses all contributed to these results.

For the remainder of the fiscal year, we anticipate higher operating expenses as we bring our total direct sales staff count to our previously disclosed target level of 38, increase our R&D spend to 2% to 4% of revenue for our next-generation product and incur additional costs on clinical studies designed to educate physicians on SmartVest value, in improving quality of life and outcomes for noncystic fibrosis bronchiectasis patients.

Notwithstanding these incremental investments, we continue to expect that our revenue growth will outpace expense growth in fiscal 2020, leading to operating improvement for the year. Furthermore, we expect to achieve our target sales productivity levels and low double-digit revenue growth in the long term.

Underpinning our enthusiasm for growth is the large, expanding and underpenetrated bronchiectasis market, where we feel our SmartVest system makes a real difference in improving patient quality of life. We follow up with our patients and providers on a regular basis and feedback -- and the feedback and testimonials we receive speak volumes about our value proposition.

For example, Pamela shared with us, "I cannot speak highly enough of the company and the positive improvements to my health and day-to-day life. Their generosity with me moved me to tears, and I am not a crier. So in a nutshell, call them. My life improved significantly with this machine. The SmartVest has kept me out of the hospital as well."

And Shirley shared, "Lung problems have been with me for about 30 years. It has steadily gotten worse. I've had to miss work as well as been hospitalized. I saw SmartVest and bronchiectasis and immediately went to the website to read about it. Liked what I read. I immediately made an appointment with my doctor to see if I would benefit. I did qualify. After that initial treatment, I was able to go grocery shopping without using oxygen. Wow. Each day I use it, I get better results. When I went to pulmonary rehab, the respiratory therapist said my lungs did not sound like she thought they would, very little noise. I said it was from my SmartVest. I have used it for about 30 days now, and everything I'm coughing up is clear."

We are extremely proud of the number of patients we have helped to breathe easier and live longer, and our team is motivated by the fact that we have the opportunity to help even more patients with SmartVest therapy.

In closing, we wrapped up a strong first half and remain excited about our future. Noncystic fibrosis bronchiectasis represents a significant and growing market opportunity, conservatively estimated at more than 4 million individuals in the United States.

For those of you who may be new to the Electromed story, we believe that approximately 630,000 people with a bronchiectasis diagnosis could benefit from HFCWO therapy, and only an estimated 70,000 patients in the Medicare population have been treated with a device like SmartVest today. The growing body of clinical evidence, combined with the powerful patient testimonials that we routinely hear, support the use of our SmartVest system as a standard of care among individuals with bronchiectasis.

With that, I will now turn it over to Jeremy for a more detailed discussion of our financial results.

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Jeremy T. Brock, Electromed, Inc. - CFO, Principal Accounting Officer & Financial Controller [4]

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Thank you, Kathleen. Good morning, everyone.

As Kathleen shared, our net revenue in the second quarter of fiscal 2020 increased 6.7% to $8.5 million from $8 million in the second quarter of fiscal 2019, driven by growth in our home care revenue. Home care revenue increased 4.6% to $7.7 million primarily due to higher average allowable based on payer mix as compared to the prior year and improved productivity of our direct sales force.

Institutional revenue increased 22.8% from -- to $494,000 from $402,000 in the prior year period. And international revenue, which isn't a strategic growth area for Electromed, totaled approximately $253,000 compared to $280,000 in the prior year period. Although quarter-to-quarter sales variability can be expected due to the nature of our business, we anticipate long-term, low double-digit revenue growth as we execute our organic growth strategy.

Gross profit increased 10.1% to $6.7 million or 78.1% of net revenue in the second quarter of fiscal 2020 from $6.1 million or 75.7% of net revenue in the second quarter of fiscal 2019. The increase in gross profit resulted primarily from the increase in home care revenue, and the increase in gross profit as a percentage of net revenue was driven by a higher average allowable based on payer mix as compared to the prior year.

The average selling price per device was at the high end of our historical range this quarter and could moderate depending on mix. We expect our long-term gross margins will continue to range in the mid- to high 70s.

Operating expenses, which include SG&A as well as R&D expenses, totaled $5.1 million or 59.8% of revenue in the second quarter of fiscal 2020 compared to $5.4 million or 67.2% of revenue in the same period of the prior year.

SG&A expenses decreased 3.6% to $5 million in the second quarter of fiscal 2020 from $5.1 million in the prior year primarily due to lower payroll and compensation expenses due to a lower number of employees in sales and administrative roles.

R&D expenses decreased to $143,000 in the second quarter of fiscal 2020 from $238,000 in the second quarter of fiscal 2019. We do expect R&D expenses to increase in the second half of the fiscal year with higher investment in new product development.

Operating income increased to $1.6 million in the second quarter of fiscal 2020 from $675,000 in the second quarter of 2019. Net income before income tax expense totaled $1.6 million in the second fiscal quarter of 2020 compared to $692,000 in the prior year quarter.

In the quarter, income tax expense totaled $419,000 compared to $311,000 in the same period of the prior year. And our effective tax rate in the second quarter of fiscal 2020 was 26.1% compared to 45% in the prior year period.

Our current year effective tax rate in the quarter benefited by 0.9% related to stock options that were exercised during the period, while the prior year rate was negatively impacted by 16.9% primarily related to unexercised, fully vested stock options that expired in November of 2018.

Our net income totaled $1.2 million or $0.14 per diluted share in the second quarter of fiscal 2020 compared to $381,000 or $0.04 per diluted share in the prior year period.

Now moving to the balance sheet and operating cash flow. Our balance sheet at December 31, 2019, included cash and cash equivalents of $9.2 million, no long-term debt, working capital of $23.3 million and shareholders' equity of $28.5 million. Cash flow from operations in the second quarter of fiscal 2020 totaled $1.4 million compared to $518,000 in the second quarter of fiscal 2019.

We are pleased to be debt-free and well positioned to continue strengthening our balance sheet to support Electromed's long-term growth strategies. Shortly, we will begin our annual strategic planning cycle and review of our long-term corporate strategy and operations plan. That plan will also lead to an in-depth discussion about leveraging our cash to maximize shareholder value. To the extent there are changes in our strategy, we will keep our shareholders updated.

Finally, for those of you who will be attending BTIG's MedTech, Life Science and Diagnostic Tools Conference in Utah, we will be participating on March 19 and 20, and we -- hopefully, we'll see some of you there.

Overall, we remain focused and confident in the direction of the business. And this concludes our prepared remarks. Operator, please start the Q&A portion of the call.

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Questions and Answers

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Operator [1]

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(Operator Instructions) Our first question today is coming from Kyle Bauser from Dougherty & Company.

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Kyle Royal Bauser, Dougherty & Company LLC, Research Division - Senior Research Analyst [2]

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So you mentioned the larger prospective study, which began enrolling, which is great. How big is this trial? And based on the previous UAB study, when do you think you could finish enrolling for this?

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Kathleen S. Skarvan, Electromed, Inc. - CEO, President & Director [3]

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Thanks for the question, Kyle. So this is going to be a multisite study. We're expecting upward of 100 patients to enroll. And then once those patients are enrolled, we'll be following them for a 12-month time period. So depending on the length of the enrollment, once we reach that 100 patients, then following them for 12 months. So I think we're thinking long-term here, this could be 2 to 3 years before we may see those results. Although it could be sooner. I just can't predict it precisely due to the time frame that it may take to enroll these patients.

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Kyle Royal Bauser, Dougherty & Company LLC, Research Division - Senior Research Analyst [4]

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Sure. Okay. Got it. And the press release implies investment in multiple studies. So I guess beyond this prospective study, can you outline anything else that's in the works?

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Kathleen S. Skarvan, Electromed, Inc. - CEO, President & Director [5]

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Well, I think one of the key studies that we're going to be thinking through and evaluating will be one on economics. And the prospective study that is underway currently would be a great springboard for an economic study on health care utilization. So how do we share with health care organizations, payers. How using SmartVest for people with bronchiectasis can benefit them as well from an economic standpoint, in addition to benefiting patient. There are also other databases that we can access for some of that economic data as well. So that would be, in general, one of the areas we're thinking about.

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Kyle Royal Bauser, Dougherty & Company LLC, Research Division - Senior Research Analyst [6]

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Okay. That's helpful. And you added 2 reps in the quarter and will -- have plans to peak at another 4 after that at 38. I know you want to layer on the reps at a pace that allows you to hit that productivity goal, but when do you expect you can hit that peak number and have a full sales force with all the territories filled? And how are you approaching this addition differently than in the past?

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Kathleen S. Skarvan, Electromed, Inc. - CEO, President & Director [7]

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So our plans for reaching the 38 would be in the second half of the year, but I think that, realistically, that should be this quarter. That's our plan. And then we'll, of course, start planning for our next year. As Jeremy mentioned, we're in our -- we'll be kicking off our operations and strategic planning process, and that'll start planning for the next year, in what that expansion might look like. But certainly, the peak should be here in this quarter.

And by the way, just to add a little color, we've been very pleased with the quality of our hires. And I think with Bud's leadership and the experience that our sales recruiter has with understanding our culture, understanding our market, understanding the profile of the sales rep that can be most successful with this product and in this market, that we've been quite pleased.

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Kyle Royal Bauser, Dougherty & Company LLC, Research Division - Senior Research Analyst [8]

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Okay. And it looks like the Medicare bucket was really strong again in the quarter. Can you talk about some of the dynamics here? I mean was this a function of faster reimbursement turnaround or just a bolus of patients coming in from that 65-plus age population?

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Jeremy T. Brock, Electromed, Inc. - CFO, Principal Accounting Officer & Financial Controller [9]

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Yes. So what we're seeing as we continue to grow and focus on bronchiectasis is a larger number are in that 65-plus bucket. So we're seeing a lot of those patients end up with having Medicare and supplements to cover their co-pays and the allowable. So we are seeing a benefit from that. To the extent that continues, we do expect to see the benefit from that from a ASP standpoint as well as that then also helps the gross margin as well. But there is variability quarter-to-quarter and we may see that in future quarters, but we will also benefit from that.

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Kyle Royal Bauser, Dougherty & Company LLC, Research Division - Senior Research Analyst [10]

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Okay. And then just 2 quick ones. So your cash position continues to grow here, and I know you've been talking about wanting to allocate that for growth opportunities. But at $9 million or $1 per share, just wondering how you're thinking about cash allocation in the future here.

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Kathleen S. Skarvan, Electromed, Inc. - CEO, President & Director [11]

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