ADcumen Leadership Development program

Workshop 3 – Building Business Relationships

Recap

Four Simple Steps to Understanding Your Market

1. Understand your value• What problem does your product solve? • How does your product compare with the competition? • Who will buy it and why? • How will you reach them?

2. Survey the competitive landscape

3. Understand your target market

4. Plan your sales campaign

Recap - Knowing Your Market

• Two kinds of research

• SWOT Analysis

• PEST analysis

• Porter's Five Forces

• The Competitor Rating Calculator

• Building a Business Case

o Feasibility Study or Project Justification Report

o Business Case

o ROI Analysis

Up The Loyalty Ladder

Prospect – Not yet purchased

Customer – Trialist• Approved vendor

Client – Repeat Customer• Preferred supplier• Solutions consultant

Advocate – Brand Insistence• Strategic Contributor• Trusted partner

What can KAM teach us?

PRE - KAM

• 7 P’s

• Research and gather all the information you might need for

this relationship. In this case, over-preparation is good.

• Market Knowledge

• Customer Knowledge

• Go where it’s easy and work up…

• Who has the problem?

Understanding Your Customer….Really!

Stop thinking like a seller and start thinking like a buyer!

• What is your customer/prospects biggest desire? (What do they really want?)

• Why do they really want that? (Not just what would happen, rather what would it give them- Money; status; freedom etc.)

• What is their biggest problem/frustration (The frustrating obstacle that's holding them back?)

Getting CUT THRU!!• Get their attention. • WHY will they give you their time?• Why will they want to do business with you?• Cultivate their interest. How they can benefit from your

product or service?

• Solve their issue…• How will you enhance their business?• Create win-win outcomes

Early KAM – Partnership/Synergistic KAM1. Build a rapport with client

• Goals/KPI’s• Make them look good• Give them ideas• Give them inside information• Find out their personal work goals• Don’t take everything personally (they have their own internal pressures)• Build trust & mutual respect - long term relationship• Know them- names; birthdays; hobbies etc.

2. Expand your reach - Farming• Be proactive – look out for problems/pains• Give them the bad news early – this gives them time to plan

3. Understand their business• Org chart – decision makers• Markets/customers• Politics• Business plan/strategy• Research their competition

4. Ongoing contact• Never just call to touch base – have something that may be of value• Keep clients up to date• Call vs. email • Plan touch points• Listen, listen, listen

3 Pieces of the strategic planning puzzle

1. SMART GOAL 2

ASSTETS

3ACTIONS

Assignment