Customer Management to Grow the Evergreen Account
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Growing Accounts requires a focused effort using a synthesis of Inside-Out and Outside-In analyses. The Outside-In approach is also essential for New Business Development. Developing a finessed understanding of the place of the customer in your business and the customers vision, growth focus and time-horizon objectives is key. First ,Know the Customer. Then ,Grow the Customer.
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Customer Management to Grow the Evergreen Account
- 2. Muder Chiba Smart customers Aggressive competitors VUCA world Volatile , Uncertain , Complex ,Ambiguous Starting Point
- 4. + Sales : Eat what I kill today? Muder Chiba Account Management :What Relationship am I building with my Customer ?
- 5. + What We'll be Seeing KnowYour Customer 1. The 80/20 Rule (Pareto’s Principle) 2. Customer Lifetime Value (CLV) 3. Map the Decision Making Unit (DMU) GrowYour Customer 1. Inside Out 2. Outside In Muder Chiba
- 7. + Muder Chiba The 80/20 Rule1. Know
- 8. + The Pareto Principle Muder Chiba 80% of sales come from 20% of products 80% of profits come from 20% of customers 80% of profits come from 20% of the time staff spend 80% of complaints come from 20% customers 80% of complaint handling time is used by 20% complaints Know
- 10. + Muder Chiba Low Future Value High Current Value High Future Value High Current Value Low Future Value Low Current Value High Future Value Low Current Value FutureValue CurrentValue Know
- 11. + Muder Chiba Low Future Value High Current Value High Future Value High Current Value Low Future Value Low Current Value High Future Value Low Current Value Future Value CurrentValue Manage Divest/Evaluate Focus Nurture Know
- 13. What is the Decision-making unit structure? Know
- 14. + Decision-owner . Sponsor . Process- Owner . Purchaser… What is the Decision-making Unit structure? Know
- 15. + Grow Your Customer Out side In or Inside Out? Muder Chiba
- 17. + Muder Chiba Inside Out What is our Current business with Customer? Grow
- 18. + Muder Chiba 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 … Streams of Business Grow
- 19. + Muder Chiba 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 … Streams of Business OrganizationPenetration Grow
- 20. + Muder Chiba 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 … 1 2 3 4 5 6 7 8 9 10 Streams of Business ClientOrganization White Space Analysis Grow
- 21. + Muder Chiba 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 … 1 2 3 4 5 6 7 8 9 10 Streams of Business ClientOrganization White Space Analysis 2 Overlay Size ,Attractiveness , Competition ... Arrive at Focus Opportunities to Increase depth of Customer Relationship Grow
- 22. + Muder Chiba Outside In What is the Customer Looking at ? Grow
- 23. Muder Chiba Tata Sons chairman Cyrus Pallonji Mistry has urged leaders of group firms to focus on sustaining profitable growth and developing agile businesses to succeed in a changing and volatile world business environment and achieve its Vision 2025. Mistry said for the group to sustain profitable growth and develop agile business amidst a changing and volatile world business environment, it should focus on developing unique consumer insights, diversification of profit pools, creation of intellectual property rights, deployment of robust risk management processes, creation of financial flexibility to seize opportunities, and minimising impact on the environment. Grow
- 26. + Muder Chiba Inside Out What is our Current business with Customer? Outside In What is the Customer Looking at ? And Grow ( best practice now)
- 27. + …To Decide on What to Offer and How to present the Solution… Muder Chiba What Opportunities do you see, say, at Tata Group companies ?
- 28. + Muder Chiba You can analyze the past but you have to design the future. - Edward De Bono
- 29. + muder.chiba@gmail.com To know your customer is to growyour customer
Editor's Notes
- The Context :Customers have become far more knowledgeable than ever before. And competition very fierce . And the business environment fluid as never before,
- …Those who do not expand their relationships with clients will not survive…businesses need to be responsive to market needs. This deck is about profitably growing accounts. Empathy ,rapport building , personal connections etc. which are absolutely essential to great account relationships will need to be covered in another deck , another day!
- Account Management in its true sense is what Marketing is! Building Customer relationships through construction of positive experiences… . At the very core , this is about a business relationship where the need is to profitably provide solutions to customers !
- This ‘Economics’ discovery has huge implications for businesses . Variations on the 80/20 theme maybe a 70/20/10 allocation but the broad guiding principle would stand.
- Getting a sense of the ‘future value’ gets the business to start examining how future ready it is ..whether its current strengths will allow it to thrive , whether the current large attractive customer will get it through the next turn of the wheel… and a strategic understanding of the customers business – her pain points , her JTBD , her business focus…
- A decision matrix which could emerge from the analysis…
- Organizations have different names and different people playing these roles…identification and reducing the complexity in Global /Large B2B structures to these roles is key to manage the account successfully.
- Taking the Tata Group , a behemoth spanning consumer facing and B2B businesses, as an example. The Chairman of the company has gone on record with the vision and the broad road map for the group. A bit more digging shows how specific group-wide initiatives like Quality , Customer centricity etc dovetail in…
- So if one were to put together a map of where the group is going…
- …Or this. This should be further drilled down and also seen through the individual company lens…Tata Motors would have a different action plan from say, Tata Steel…
- White space analysis shows Service X to be ‘sold’ into a Customer based on his objectives and strategic vision , ROI analysis to provide the wording/positioning of the pitch
- The Outside In analysis would throw up areas of future opportunities that the organization needs to build capabilities for…starting now!