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 KAM 1. 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. Plan touch points Listen, listen, listen

3 Pieces of the strategic planning puzzle 1. SMART GOAL 2 ASSTETS 3 ACTIONS

Assignment