Customers you can't afford to lose are those customers who supply a good portion of your revenue or profit. Or they can be customers who are growing faster than the rest of the marketplace. The thought of losing one of these customers scares you so much that you might feel tightness in your stomach.
Read MoreFor those cases when you face people with made-up minds, we continue to give you some ideas to get unstuck and to get other people to change their minds. In part 1 we used some of the ideas of persuasion guru, Robert Cialdini.
Many powerful ways to change made-up minds use emotion. Business psychologist Peter Sullivan often explains that the word emotion can be written as e-motion and explains this as e is the electrical force that puts us into motion.
Read Moren business, we are bombarded by information telling us that it’s the end of the financial year. Go to the mall, and JB Hifi and Harvey Norman shout at you too. We’ve even created a new word EOFY.
So what does that mean for you? Well, there are some opportunities to negotiate good deals. Why? Because you know that the other person is negotiating with a deadline and they need to get the sale.
What do we mean?
Read MoreManagers constantly want to get better results, better results for themselves and better results for their organisation. One way to improve performance is to get improved performance from individuals. For managers to improve their own performance and their organisation’s performance, they need to know a secret.
Read MoreRegularly, clients ask how to change others minds, especially when it appears the other person has made up their mind and seems unlikely to change. Sometimes this is because you are not trying to persuade the other person, you are just giving them your opinion and then getting frustrated because they don’t agree with you. But let’s assume you have tried some professional ways to persuade and you are stuck. In a series of blogs, we will give you some ideas to get unstuck and to get other people to change their minds.
Read MoreWhat things rob you of time on a daily basis?
Whether you are talking about a live negotiation or a major community project, there are times when you need to take decisive action. Use time, yours and others, more efficiently and effectively.
Read MoreWith the SAMA annual conference in Florida fast approaching this is a good time to share an insight from our book Managing B2B customers you can’t afford to lose about managing rewards and insights within strategic account management (SAM).
Read MoreSaving 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 MoreTodd 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 MoreWhat insights did I get from attending last week’s Medical Technology Association of Australia’s (MTAA) summit on Value-Based Health Care?
Read MoreThe word strategy is often misused and misunderstood. When we use the word we mean the simple definition used by the McKinsey consultant Kenichi Omhae: strategy is the intersection of three groups: customers, competitors and the company.
Read MoreWith the MTAA Value Summit quickly approaching and World Book Day next week, I thought I would share an extract from my successful book with Gary Peacock: Managing B2B customers you can’t afford to lose. This extract concentrates on creating value through joint partnerships.
Read MoreConsider a typical two person negotiation: buying a house or buying a computer. Our experience shows most of these negotiations involve four major issues. For example, with a house: buy price, when to exchange money, size of deposit, what existing items in the house will be included. Or, when buying a new car: buy price, trade in value for existing car, length of warranty and what extras might be included (e.g. better audio system, rust proofing or special wheels). Whenever preparing for a negotiation we always advise you to use a planning sheet.
Read MoreCompanies are spending more time on how to compete in competitive markets using value. Four factors give best companies a competitive edge that drives growth:
In an earlier blog, we explained the first two factors that drive growth. In this blog, we will expand on factors 3 and 4.
Read MoreToday'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 MoreEveryone is individual, yet we alter our behaviour according to different circumstances. Think about the way you interact with your friends. You don’t treat all your friends the same, do you? Isn’t there someone you know who’s a bit more sensitive than most – so you have to be extra careful not to hurt their feelings. Or what about that member of the family with such thick skin that you need to be blunt?
Read MoreTo gain an advantage in an increasingly competitive marketplace, it is essential that your culture represents your strategy. So, how can you start changing your culture? You can make this complex or simple. Let’s assume you want to make a start, and you want to understand some practical levers you can pull to start change.
Read MoreBy 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.
Competition is increasing along with pressure on price, which can lead to a race to become the lowest price. However, discounting prices further to keep customers only prevents you from being competitive in the future because you have lower margins to invest.
With companies having fewer but larger customers it means that the top 10-20 customers for a company typically represent 60-80% of revenue and profit. Losing one of these customers can have dramatic impacts on a company - adding still further pressure to discount prices.
Read MoreBusiness 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
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