A company that has a successful SAM program is Cisco. As a global leader it takes managing its major customers seriously, keeping the customer at the forefront of everything they do. So, Cisco moves from success to success, and in every key segment in which they compete they are the market leader.
This report from the Harvard Law School Program on Negotiation shows some strategies for success for women when negotiating. It explains how to avoid the backlash and push for better results and close the gender gap.
Negotiation is a vital skill needed to achieve results in a range of business interactions. When you understand how to effectively negotiate, you can plan and achieve better outcome in every situation by changing the focus to value, not price!
The world of business is becoming ever more global and constantly changing, and changing fast.
Companies have fewer customers producing larger share of their revenue and profit Losing one of these customers would have dramatic financial consequences. How would you replace their sales? How would you replace their margin? It's almost impossible to replace these customers because your competitors will protect their large customers at all cost.
Customer experience is a major differentiator for companies. With rising customer expectations it's a challenge for companies to differentiate their offerings while reducing costs and complexity for their customers and still make a profit.
Focus on your most important customers and make your company easy to deal with, keep things simple for your customers. Your customers will value convenience. But customise the experience, because there will be differences between your customers and within them.
This requires agile capabilities and great persuasive skills.
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As executives and senior managers are getting bombarded with numbers and data, we try to understand what this means.
It is not just the volume but the complexity of data being collected that makes it tempting for senior managers to leave the analytics and interpretation to the experts. This is dangerous, as data without business insights is a waste of scarce resources - money and time, and a missed opportunity to find your competitive advantage.
Make your analyses useful and your insights clear and actionable. Don't dissuade with complex and confusing data presentations - keep it simple.
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Changing market dynamics make it imperative for negotiators to rewire their approach to the market. There are a few relentless market trend impacting how B2B companies do business. These are long-term, and impact the top and bottom lines of B2B companies around the world.
This article was published in the India Management magazine in October 2016.
Buying on the total benefit of ownership boosts profitability by bringing sustainable savings.
When more rigorous measurements are applied, the true potential of buying on total cost becomes clear.
Persuasion is more than a thorough knowledge of your subject. You must be able to communicate the information persuasively.
As the business world gets tougher and more competitive, you need to get better and more effective at persuading. You use this skill in your everyday business relationships and connections.
For those of you who are short on time, this ebook will provide you with some practical tips to make you more persuasive and improve your business results.
The smarter you are, the more likely you are to believe the myth.
Stephen Kozicki, who is the co-author of Persuading for Results, delineates the way to win more business through diligent persuasion and by taking the focus off content, in The Smart Manager magazine article published in 2016.
When wanting to influence someone else and win business, the myth that needs busting is: more content is more persuasive. Imagine you are confronting a board of directors, a key customer, or a key supplier you want to persuade to take a different view of the world. Instead
of adding more content, take a deep breath and focus on what action you want them to take after your meeting or presentation.
To read the full article click here.
Four Best Practices for Strategic Planning
Nicolas Kachaner, Kermit King & Sam Stewart
The Boston Consulting Group (BCG)
Strategic planning is one of the least-loved organisational processes. But with nearly one-tenth of public companies disappearing each year, it's clear that companies need to devote time to strategy. The problem is that many companies lack an effective strategic-planning process.
The companies that get the most benefit from their strategic-planning activities have four things in common. They explore strategy at distinct time horizons, constantly reinvent and stimulate the strategic dialogue, engage the broader organisation, and invest in execution and monitoring.
Defining the plan is only half the challenge. The other half - translating the strategy into results - can be even harder. Successful execution requires active communication, well-resourced supporting initiatives, success metrics, and aligned incentives.
This video by Sheena Iyengar, shows the problems with choice overload and provides some practical tips on how to reduce these problems.
How can you make choices easier?
- Cut - less is more, this increases sales & cuts costs
- Concretise - make it real & show the consequences of the decision
- Categorise - more categories equals fewer choices
- Condition - gradually increase the complexity of choices
Big data is here and the amount created will continue to increase at an exponential rate. How are you going to deal with this?
This ebook will show you how to use data to persuade your audience to act.
Click here to download the ebook: Persuading with Big Data
If you are not already managing accounts strategically, you have just one question: Why bother?
Knowing Strategic Account Management (SAM) is a competitive advantage to some companies is interesting. However, the key question for you is, can SAM help your business compete and deliver better results? So, to help you decide is SAM can help you, this first chapter of the 'Managing B2B customers you can't afford to lose' book explores the changes that mean Strategic Account Management is becoming critical. Examining the symptoms of change, the drivers of change, the barriers to change and the benefits of change.
Here are some questions to help you determine your need for SAM:
- What changes are occurring in your marketplace affecting your customers and your competition?
- Is your organisation changing fast enough to respond to these changes?
- Are you managing your most important accounts strategically or operationally?
- Are you focused only on short-term results or long-term results too? (How would your staff answer?)
- Are you focused only on improving your business results, or your account's business results?
To purchase a full copy of the book email: email@example.com or order your ebook here.
Customers are always looking for new insights to develop and grow their profits. Strategic Account Management has proven the most effective way to build relationships and profits.
Based on our experience, these 5 books can help you grow your profits faster. Click here for a pdf with a review of each book.
As companies move from sales management to account management, it raises the question: "How can we measure improved strategic relationships?"
This tool will enable you to do just that.
Check out our Strategic Account Management blogs for more useful insights into account management.
By Kathleen L McGinn & Markus Noth
This is a working paper about the conundrum of communication in bargaining. Many agree communication can enhance bargaining efficiency through honest revelation and coordination. Given the opportunity, bargainers tend to over-communicate - to share more information, more honestly, than predicted.
Click here to read complete article.
Published 2012 - working paper
By Gary Peacock, International Author & Expert in Persuasion
8 steps for the perfect persuasion
Persuasion is a skill of effective communication, it’s even called an art. Some people have natural charisma and the ability to persuade and influence other people with ease, but many people struggle to be effective persuaders. The good news is - these skills can be learned.
There are eight steps to the perfect persuasion and these all involve understanding the other person’s point of view.
Click to read complete article
Varian Medical Systems Australia: A Case Study on Strategic Account Management
By Peter Browne and Gary Peacock, Managing partners at Bennelong Group International
and Chris Cowley, Managing Director Varian Medical Systems Australasia.
Implementing SAM means leading an organization through transformational change that is both challenging and rewarding. If you are considering implementing SAM in a business where only some elements are in place, then this case study will serve as a practical example. Varian Medical Systems Australasia (VMSA) shows how, in less than three years, one company went from not having a structured approach to managing its most critical accounts to establishing a world-class SAM program - a program that transformed relationships with key customers and reconfirmed VMSA as a clear market leader.
Click to read complete article.
Published in 2014.
To win in a shifting profit pool, companies need to improve how healthcare is delivered.
By George Eliades, Michael Retterath, Norbert Hueltenschmidt and Karen Singh
Bain & Company
We have been talking about healthcare costs for more than 40 years, but the worldwide financial crisis and subsequent climate of austerity are finally catalyzing change. Payers are searching for all available tools to stunt the growth of a sector that has successfully resisted cost containment for decades. Adding to the urgency for action is an anticipated global surge in demand precipitated by several factors: an ageing population with chronic care needs, population and income growth in emerging markets and the potential for insurance coverage expansion due to health reform in the US and around the globe.
Click to read complete article.
Published in 2012