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Entries in Gary Peacock (18)

Monday
May262014

Fresh from Florida

Google

By Stephen Kozicki

Last week, Peter Browne from Gordian Business was presenting in Florida at the Strategic Account Management Association’s 50th Anniversary Conference. Peter was presenting a case study of a successful client who in a mature market grew profit ahead of their 5 year plans.

“SAM has had the biggest impact of any initiative
we have undertaken in the last five years.
The business is almost unrecognisable.”

Case study, The Managing Director

The Strategic Account management Association (SAMA) have published the case study in their latest ‘Velocity’ magazine released at the SAMA conference. Also at the SAMA conference was the global launch of the practical business-to-business book on Strategic Account Management by Peter Browne and Gary Peacock.

 

Image: Peter Browne (Gordian Business) & Todd Snelgrove (SKF Global)

 

“In this book Gary and Peter provide some very practical and fresh ways of how to identify, build and grow relationships with individual and corporate customers.  Critically important, for corporate customers, they explain why some relationships work and why some do not work.  But they don’t stop there; they also offer simple tools and thinking models for how you can enable your team to plan how you can work with your key customers from a strategic perspective.”

Lynette Nixon, Industry Fellow, Innovation and Design Thinking at University of Technology, Sydney

 

So, if you are considering starting a SAM program in your organisation or are already on the journey and need practical advice to maintain your momentum, then pick up a book. The book is available from www.matrixplustraining.com.au or your airport bookshop, or soon download a copy of the ebook from www.amazon.com

Tuesday
May202014

Does your business need SAM (Strategic Account Management)?

Google

By Gary Peacock

 

Only those who will risk going too far
can possibly find out how far one can go.

T.S. Eliot 

 

In business there is a constant tension between managing risk and capitalising on opportunities. SAM is a critical element for doing both.

From our experience the top 10 to 20 accounts of any B2B organisation typically represent 60-80% of revenue and profit. We have seen cases as high as 95%. The consequences of losing one of these customers are dramatic, and in today’s business environment it is almost impossible to replace these customers; your competitors will protect them at all cost.

Do you have a problem?

Depending on a few accounts for your revenue

 

Do you rely heavily on a few large customers for most of your revenue?

Is the revenue generated by these large customers growing as a percentage of total revenue?

Over time, industries consolidate and the big get bigger. If you are an industry where this is happening it is likely you have a problem.

 

Losing large accounts

 

Have you lost a large account and you don’t know why (sorry, price isn’t the reason)?

Repeatedly, companies lose key accounts and rationalise the loss of a one-off, caused by actions of a desperate competitor. They are rarely one-offs. They are a signal the market is changing and more is to come. Do nothing at your peril.

 

Serious financial consequences of losing a large customer

 

Have you assessed the financial impact of losing one of your largest customers? Would it be manageable or would it be fatal?

How easy is it in your industry to replace a lost large account with a new one? In most industries this is becoming harder; if not impossible. Big accounts are locked into long-term agreements and competitors will defend them at all costs.

 

 

Businesses also need SAM because customers have become more sophisticated in their buying strategies. Successful sales and management teams need to become more sophisticated in their key account management strategies. Rethinking and adapting approaches for each customer is imperative. As industries and customers evolve, so too does the way they make buying decisions and manage supplier relationships.

Is your market changing?

Different competitors

 

Are you seeing new or different competitors emerge? Many industries are experiencing new niche competitors nibbling away at their revenue, or online channels creating low-priced and convenient alternatives.

Are generic products a growing threat? Can you justify the premium customers must pay for your branded product – and for how much longer?

 

Different buying processes

Different relationships

 

Is the way your key accounts buy changing? Are procurement and the senior executive team becoming more involved? As organisations apply greater governance and executive oversight, decisions are being made higher up. This is clear trend. Is your account team equipped to deal with these changes in the buying process?

 

If you identify with a problem or market change above then you would benefit greatly from a SAM program in your organisation. If you are looking to start a SAM program or are already on the journey and need additional practical advice to maintain your momentum, this is the book for you: Managing B2B customers you can’t afford to lose.

If you are thinking about starting a SAM program at your organisation then check out http://www.gordianbusiness.com.au/strategic-account-management or call +61 2 9450 1040 or email gary@gordianbusiness.com.au. We would love to hear your comments below and subscribe to our blog at the top right of the page.

Friday
Apr042014

Flatlining: Senior managers does your presentation have a heartbeat?

Google

By Gary Peacock

" Faced with a choice between changing our mind and defending our position, most people get busy defending their position."

John K Galbraith

 

Senior managers often ask us to review critical presentations. These presentations may be critical because of who they are being presented to: directors, head office, best customers or important prospects. Or presentations may be critical because of what is being presented: winning the sales is budget-critical or convincing the audience is career-critical.

We use a one page process that guides our review to:

ensure you are clear about what you want

ensure you include only essential content

ensure you create a compelling case

Another tool we use is like the ECG used to check your heart. Let’s say you have 20 slides. Draw a horizontal line with the numbers 1 to 20, one for each slide. Then, draw a vertical line from 0 to 10, where 0 is neutral (or boring!) and 10 is exciting or emotional.

So how do we use it? Let’s look at typical slides, the most common is text and bullet points. On a scale of 0-10, how would you rate that? Well, I am sure like us you have seen thousands of these. There is only one score we can give: zero. Nobody in the audience ever said. “Please show me another slide of bullet points.”

Next many presentations contain numbers. If a slide includes a copy of a spreadsheet filled with tiny numbers and standard black lines around each number, how would you rate that? Just consider, 12 columns one for each month and say 24 rows for products. This gives 288 numbers, on one slide.  How is your audience supposed to know which numbers are important? Even if you bold the total column, there is so much black on the screen that they give up. So, copies of spreadsheets of numbers in slides, score: zero.

At this point, some people will be just about to give themselves a score greater than zero because they use colour in their spreadsheets. They highlight columns with a colour. Or they show all shortfalls to target using a red font. If you have less than 100 numbers on your slide, give yourself a 3. It’s a little more exciting than the all-black spreadsheet.

Emotion: is the fast lane to the brain

Doug Stevenson

In some presentations we see, that’s all there is: bullet points and spreadsheets. So, how do we get some emotion or excitement? Well the first way is to add some pictures. Even those standard Microsoft images are better than slide after slide of bullet points. So, for every slide with a picture give yourself a rating of at least 5 out of 10.

So, how do we get some more emotion or excitement? If your pictures are of real customers or real employees, then rate your slide a little higher. To get higher ratings, how about some different pictures. For example when talking about competitors, how about a close-up picture of a boxer scowling at the camera. Or how about a picture of two boxers, sparring and glistening with sweat?

Or in a very competitive situation, how about a rock climber without ropes, clinging to a cliff with just fingers and toes. As long as the pictures fit the content, pictures like this will make the audience feel some emotion. Typically, a good picture will be rated between 7 and 10. This will give you a blip in your flatline, this will give your presentation a heartbeat.

The wisdom of the wise & the experience of the ages are perpetuated by:
quotations

Benjamin Disraeli

One little known method for adding some emotion is to add quotations. These are best to be quotations from famous people as they add credibility to your argument. Apt quotations can make audiences feel pain, feel uncomfortable or feel inspired. In short, apt quotations can make your audience feel something: emotion. If you have an apt quotation, give yourself a 7 or higher if it will make the audience feel something.

After discussing this tool with a senior manager in a large Property Services Company, she said “I just looked at a critical presentation we are giving on Friday and its flatlining.” Luckily she had two days to get a heartbeat or two into her flatlining presentation.  Senior managers make sure your critical presentations are not flatlining.

For more information on how to give your presentations a heartbeat read this, http://www.gordianbusiness.com.au/pitching-for-results/ or contact gary@gordianbusiness.com.au or call us on +61 2 9450 1040. We would love to get your thoughts on this, so please leave your comments below and why not subscribe to our blog top right.

Monday
Mar102014

Are you leading in the right way?

Google

By Gary Peacock

Change, before it’s too late!  

Jack Welsh

 

The business world today is changing and changing fast. Are you aware of all the changes that could affect the future of your business, both within your industry and beyond?

Roselinde Torres has a great TED talk: What it takes to be a great leader? She discusses three main questions that control the strength of your leadership.

  1. Where are you looking to anticipate change?
  2. What is the diversity measure of your network?
  3. Are you courageous enough to abandon the past?

http://youtu.be/aUYSDEYdmzw (existing TED link - not on our channel yet)

Successful leaders do not continue to lead in the same way they did in the past. Using previous strategies for the future will make your company stagnate and will prevent growth.

To grow you need three things. First you need a diverse network of contacts to ensure you get many perspectives on the future. Second you need to research your customers, employees and prospects. The first two help you identify the necessary change. Third, to lead, you need the courage to embrace this change

Once you identify the many different issues important to your many different contacts, customers, employees and prospects – how do you cut through all the noise to find the few important issues to guide your strategic change? Time is a commodity few of us have to spare. Researching, investigating and interpreting take time. Getting help from a third party can save time and provide additional insights.

Keep your competitive advantage and have the courage to change. Don’t get left behind. Find out what’s important for your key contacts and act.

For insights into what is important for your business look at http://gordianbusiness.com.au/research-and-surveys/, call us on +61 2 9450 1040 or email gary@gordianbusiness.com.au.

Monday
Feb102014

Sceptical about buying on value? Check out the facts …

Google

By Gary Peacock

 

Extraordinary claims require extraordinary evidence.

Carl Sagan

Did you know the unit price of a product or service may only account for about 10% of the total costs. To reduce the remaining 90% you need to look at the total costs for your business. Todd Snelgrove from SKF Global is a world leader in value and total cost of ownership (TCO). We asked Todd, what makes value a better alternative? What easy steps you could take towards buying on value?

http://youtu.be/j_3usMkO6CQ

From this video you can see that scepticism is a valid reaction. However, if you can be open minded to the facts and the costs for your business and how to reduce these, buying on value is more profitable.

If you’re looking to drive savings to your bottom line and change your relationship with your suppliers look at our workshop http://www.gordianbusiness.com.au/strategic-account-management/ or contact us on +61 (2) 9450 1040 or email gary@gordianbusiness.com.au.

We would love to hear your views so please comment below and subscribe at the top right of the page.