Presentation is loading. Please wait.

Presentation is loading. Please wait.

How to Grow and Fortify Critical Accounts Presented by: Rick Reynolds CEO AskForensics, LLC © AskForensics, LLC, 2013.

Similar presentations


Presentation on theme: "How to Grow and Fortify Critical Accounts Presented by: Rick Reynolds CEO AskForensics, LLC © AskForensics, LLC, 2013."— Presentation transcript:

1 How to Grow and Fortify Critical Accounts Presented by: Rick Reynolds CEO AskForensics, LLC © AskForensics, LLC, 2013

2 Agenda Background What customers want Why accounts are “at risk” 6 actions to avoid becoming “at risk” Q&A

3 AskForensics Over 25 years of expertise Works with leading corporations Evaluated over $10.6B of business over past 7 years - sales events and accounts Presentation addresses performance with existing customers: – $4B worth of accounts >$3B of “at risk” accounts – >600 B2B customer evaluations – Insights from 20 Fortune 1000 level companies

4

5 Levels of Account Status RatingsWhat They Mean Strong Pretty much all is well. Your company is delivering effective support and is highly valued. This doesn’t mean, though, that you can rest on your laurels. Vulnerable Percolating issues that, left undetected and unresolved, can escalate and become festering and growing concerns. These can hurt your chances for expansion and renewal. Damaged Triage is needed. You are susceptible of losing the account, perhaps before your contract expires. You have no time to waste.

6 Damaged Vulnerable Strong Expansion Opportunity Most Accounts Have Some Level of Risk Status Rating of Existing Accounts

7 What Customers Want % of Accounts Service quality Program management Account support Financial performance What Customers Want

8 What does Service Quality Mean? Strong operations and results Timely service Meet special needs/requirements % Mentioning Service Quality

9 What does Financial Performance Mean? Be cost competitive Decrease operating expenses Increase total revenues % Mentioning Financial Performance

10 What does Program Management Mean? Operational expertise Innovative ideas Professional management Quality onsite/frontline staff % Mentioning Program Management

11 What does Account Support Mean? Strong support from sales/account team Partner-level relationship Constituents / end customers Offer recommendations % Mentioning Account Support

12 Primary NeedsPrevalent Sub Issues Service QualityStrong operations and results Financial PerformanceBe cost-competitive Program ManagementOperational expertise Account SupportStrong support from sales/account team Offer recommendations Let’s Bring This All Together Bottom line: Customers want a strong partner to improve their performance.

13 What Can Possibly Go Wrong?

14 Most Prevalent Reasons for Being Strong Account Support Service Quality % of Strong Accounts

15 % Mentioning Account Support In-depth knowledge of client’s business Possesses industry expertise Proactively shares recommendations Corporate Level Account Support in Accounts Regarded as Strong

16 Frontline Level Account Support in Accounts Regarded as Strong % Mentioning Account Support Highly valued relationship Delivers effective support Delivers measureable results Responsive to requests

17 Most Prevalent Reasons for Being Vulnerable Account Support Service Quality Value % of Vulnerable Accounts

18 % Mentioning Account Support Does not proactively share recommendations Does not support client’s programs Not responsive Lack of senior management interaction Corporate Level Account Support in Accounts Regarded as Vulnerable

19 % Mentioning Account Support Insufficient employee quality Delivers measureable results Highly valued relationship Delivers effective support Frontline Level Account Support in Accounts Regarded as Vulnerable

20 Most Prevalent Reasons for Being Damaged Account Support Service Quality Value % of Damaged Accounts

21 Account Support is the Common Thread Account Support Encompasses: Strong $660 Million Vulnerable $3.5 Billion Damaged $81 Million Corporate Level  In-depth knowledge of client’s business  Proactively shares recommendations  Possesses industry expertise  Does not proactively share recommendations  Does not support client’s programs  Not responsive  Lack of senior mgmt. interaction Onsite/Frontline Team  Highly valued relationship  Delivers effective support  Delivers measureable results  Responsive to requests  Employee quality  Delivers measureable results  Highly valued relationship  Delivers effective support  Insufficient employee quality Mirror Images New Issue Emerges Strong factors are less strong

22 Comparing Prevalent Needs to Performance Prevalent Needs Account Support – Strong support from teams and offer recommendations Service Quality – Strong operations and results Financial Performance – Be cost competitive Program Management - Operational expertise Strong Accounts  In-depth knowledge of client’s business  Proactively shares recommendations  Responsive to requests  Highly valued relationship  Delivers measureable results  Delivers effective support “At Risk” Accounts  Does not proactively share recommendations  Does not support client’s programs  Not responsive  Lack of senior mgmt. interaction  Highly valued relationship  Delivers measureable results  Delivers effective support Mirror Images PerformanceWhat Clients Want

23 How Can We Avoid Becoming “At Risk”?

24 6 Actions to Avoid Becoming “At Risk” Action #1: See around corners. Continually reassess and meet clients’ needs  Needs they articulate  Needs they have not fully defined  Pronounced and subtle needs  Emerging needs they may not detect yet

25 Action #2: Continue to be proactively creative. Think as if you were on the outside attempting to win the account  Proactively share ideas and concepts with clients  Don’t wait until renewal  Involve your senior executives and your clients’ senior executives 6 Actions to Avoid Becoming “At Risk”

26 Action #3: Avoid having a weak link. Improve training of frontline staff and reassess your corporate involvement  Keep corporate teams involved  Match cultures and personalities  Assure top quality employees are assigned to the account 6 Actions to Avoid Becoming “At Risk”

27 Action #4: Don’t let issues fester and escalate. Identify gaps, respond quickly to requests, and resolve problems  All levels of your company must be responsive  Make sure everyone is on the same page  Thoroughly address issues so they do not reappear  Challenge customers when they are responsible for issues  Communicate your actions and results Actions to Avoid Becoming “At Risk”

28 Action #5: Don’t fail at your core deliverables. Continually deliver measurable value  Communicate value to all stakeholders  Include direct and indirect value  Position as investment instead of cost  Continue to improve your service/product delivery  Enhance your customer’s value to their customers 6 Actions to Avoid Becoming “At Risk”

29 Action # 6: Conduct thorough audits on your key accounts. Initiate a fresh eyes review of your total relationship and overall performance  Thorough  Objective  Take action 6 Actions to Avoid Becoming “At Risk”

30 AskForensics, LLC www. AskForensics.com Rick Reynolds Senior Partner Atlanta, GA USA Thank you! © AskForensics, LLC, 2013


Download ppt "How to Grow and Fortify Critical Accounts Presented by: Rick Reynolds CEO AskForensics, LLC © AskForensics, LLC, 2013."

Similar presentations


Ads by Google