Saving costs is good, improving productivity is good, increasing sales is good, executing strategy is good, more growth is good and more profit is good. Well, experience shows it’s easy to make savings on a spreadsheet, it’s a little harder to announce the changes, and it’s tough to deliver the improvement in profit.Read More
Todd Snelgrove now Founding Partner at Experts in Value, was previously the Global Vice President of Value for SKF. During his 20 plus years in the industry, he has identified five reasons why companies do not take the time and effort to quantify their value and equip their sales teams or account managers with the tools and techniques they need to discuss value with customers.
This extract is taken from The Creative Negotiator by Stephen Kozicki.
Why can’t you quantify and prove value?Read More
Today's customers are intently focused on getting the lowest price. With advances in technology customers can compare products and prices before they speak to you. Increased competition is making price pressure more intense, with a race to the lowest price being the easiest way to win the deal. But, at what cost to your company?Read More
By Stephen Kozicki & Gary Peacock
Over the past three years, the world has changed dramatically, and forever from digital disruption, Brexit and Trump. Your industry and your top clients are feeling the stress as their markets change, fast. These fast changes mean that your business needs to be more agile in response to the market. For companies unprepared for these changes this means lower revenue and lower profits.
Our blogs are usually short and punchy to grab your attention. This blog is a little longer than usual because delivering growth is just too important and too urgent to reduce the ideas down to a page, so we have split it into two parts.
To Grow – Act Now!Read More
Business to business (B2B) or Business to Consumer (B2C), it's just selling and marketing to one person, isn't it? With B2C it's selling and marketing to the person who picks the product off the shelf or clicks the link on a webpage. With B2B, its selling to the buyer who gives you a purchase order, isn't it? To be successful you must understand two critical differences between B2B and B2C.Read More
To be blunt, for customers usually, there are not many significant differences between suppliers. Occasionally, you have a special product or service that no-one else has because it's protected by patent or special knowledge. Even then, the advantage lasts for a limited time. So, most of your time you compete with similar products and services.
So what?Read More
Let's deal with the 'why' first. Everyone is talking about the era of big data. The account plan is about insights, not data, and it is about how to manage a top account in a very competitive marketplace. A key to the account plan is to use it as a living document to drive value with key stakeholders and not just ticking a box for the 'call' ratios on this account.Read More
It is surprisingly difficult to predict how your account team will adapt to a more strategic way of managing their accounts, and the more influential role they will play in the company. Until your SAM program is underway, you won't know who will make the transition.Read More
Imagine you have a meeting with seven senior managers. The task of the meeting is to choose four customers to manage differently for the next 24 months. How long will it take to decide which four customers? Are you talking hours, or maybe days?Read More
Many companies work in silos, geographically or by business units. Implementing a company-wide initiative like Strategic Account Management (SAM) poses many challenges, particularly around the main resource - staff.
So, for leaders of companies with these siloed structures getting the whole company aligned around strategic customers, and committing time, money and people can be a major challenge.Read More
Companies are increasingly finding that their traditional value proposition is falling short. The strength of their brand has less value in the buying process, and competition is intensifying from well-resource established players and emerging niche players. Pressure to reduce prices is now the norm. So, margins are deteriorating and profits are shrinking.
How can you stop this?Read More
Most global B2B companies have realised they need to manage their major customers - who represent most of their future revenue and profit - differently to the rest of their customers. Why? Well if you want to create opportunities to grow with your major customers, and earn the right to keep doing business with them, you need to offer much more than the average supplier. How can you do this?Read More
You can find lists of competencies for account managers, for example from the Strategic Account Management Association (SAMA). Many of these list the technical knowledge needed. However the most critical skill an account manager needs is persistence.Read More
Typically, when deciding which accounts to manage strategically, companies use revenue as the main criteria. This makes some sense. Managing accounts strategically requires a large investment in time and resources, so receiving adequate revenue to justify this investment is valid.
However Strategic Account Management (SAM) is about managing the accounts in your business strategically. Managing to achieve your company's strategic objectives, there are many other factors that influence whether an account deserves you investing more time and resources.Read More
The business environment is constantly changing. These changes in markets, competition and technology are hurting the results of many companies.
The priorities for companies are to create superior customer value, retain high-value customers, be more innovative and be more efficient. However, there is immense pressure to drive down operating costs, compete increasingly on price, and respond to rising customer demands.
Many companies find it impossible to respond to change and simultaneously pursue strategic priorities. So, they end up mainly reacting to change.
How can you use these changes to your advantage and find opportunities for improving your business results?Read More