Audiences who saw the fabled Broadway musical, Chorus Line, marveled at the intricate timing and seamless interaction of the dancers as they mastered the choreographer's precision steps after many false starts in rehearsal.
At the final curtain, the stage is crowded with dancers whose images are multiplied by mirrors strategically placed about the stage.
That's a tough scene to match.
In many ways one can view the Chorus Line as a metaphor (sans mirrors) for orchestrating enduring major account relationships, which at their optimum, are enduring alliances.
This is a dance, not of two partners, but of many partnerships developed between business entities. A figurative chorus line of relationships that require timing, integrated movement, anticipation, and occasional improvisation played before a senior management audience expecting considerable return for the cost of the production.
With proper direction and judicious investment of resources, a major accounts initiative can become a resounding revenue hit.
How do you recognize a major account hit in the making?
· When your product or service is perceived as an integral part of the customer's business process, i.e. when "you" and "they" become "us." Bill Voltmer, vice president of global sales for Factiva, the online information aggregator, looks for an integrated relationship between the account team and the client. Bill believes that "when all is said and done, it is the discipline of the account team to have a live account plan which is documented" that drives and sustains the major account relationship.
· When account plans are supported by a measurable, systematic approach which functions as an identifiable common language within and between supplier and client organizations. One method to build the shared planning process is the "Alliance Relationship Model"*, a proprietary process which tracks four developmental account relationship stages, focuses with the client on its business drivers as well as intangible influences and offers a quantifiable measure of the account team's effectiveness. The model interprets Miller Heiman's "Successful Large Account Management" guideposts for navigating the major account landscape. It also helps the account team examine the specifics of relationship development as it relates to the customer's specific, critical needs.
· When the relationship supports a mutually beneficial long term competitive advantage in the form of accelerated growth rates, operating economies and increased market share. Here, the client relationship emerges as a strategic partnership, an actual alliance. This is a far cry from the predictable transactional steps of a commodity sales process. Clear client communication, focused interaction and a strategic mindset are essential to achieving a distinct competitive advantage for both partners.
What are the eight precision steps expected from your lead account performers to set and maintain the tempo of a major account relationship?
Your account team leaders should be expected to deliver
· Client acknowledgement and acceptance of elevated account relationship
· Definition of the mutual benefits or shared value dimension
· Agreement on client's short term and strategic business objectives
· Identification and commitment of supplier resources in support of those objectives
· Joint client/supplier planning
· Supplier and client C-level buy-in and participation
· Routine evaluation and re-alignment
· Account management continuity
How to measure account team success?
Short of a standing ovation, Phil Hecht, global vice president of sales and strategy development for AT&T's Signature Client Group, believes that "differentiated value" is at the core of a successful major account alliance relationship and the key to gaining a competitive edge. In his view, the value equation includes not only the long term positive impact of a product or service deliverable to the client, but also the value of best practices that the major account team brings to its own company as well.
Equally as important, according to Hecht, are the internal resources available to major account teams. "Owners of major account organizations need a tremendous support structure to feed its sales talent with business intelligence to understand industry dynamics. Given the significant potential rewards equally significant risks, major account leaders need to be particularly vocal about the resources required to anticipate and respond to client opportunities."
The Payoff
Financial payoffs to both client and supplier alliance partners can be substantial. Such performances not only reap the loudest applause, they also become long playing hits as they
· Increase wallet share across the client enterprise
· Contribute to production economies
· Accelerate product or service innovation
· Elevate sales and account management performance standards
· Establish vertical market CRM leadership
· Gain a measurable competitive advantage
Now that's really a touch act to follow.
*Alliance Relationship Model is a quantifiable major account performance model developed by the author. Thomas J. Baskind welcomes inquiries at tbaskind@lexien.com and (914) 682-2069. Lexien Management is an affiliate of D.E.I. Management Group.
Thomas J. Baskind is a Managing Partner at Lexien Management Consultants. His career includes leadership roles in general and sales management, advertising, public relations, financial services, consulting and vendor relations. He has served in executive positions at world-renowned organizations such as CBS Inc., Lexis-Nexis, Dialog, the Thomson Corporation and Deutsche Bank. Tom's expertise spans sales process development, major accounts modeling and sales, effective negotiation, prospect management and large account management.
Boisterous, Omnipotent, Self- indulgent Sociopath. Avoid the B.O.S.S. syndrome with... Read More
The Security Consultant's Perspective...Implementing Personnel Security Initiatives should be the... Read More
Creativity can be defined as problem identification and idea generation... Read More
ISO 9001 2000, Getting startedBefore starting the ISO 9001 2000... Read More
Much of the literature and advice on implementing business change... Read More
The other day I brought my mother into an appliance... Read More
KEEP WRITTEN RECORDS: "Document !Document! Document!" Keep a record of... Read More
Definition From http://www.merriamwebster.com -- "Virtual: - being such in essence... Read More
Marriages and corporate mergers in America have at least one... Read More
There are 12 essential elements of a successful internal communications... Read More
'I heard it on the grapevine' the old song goes.... Read More
A year or so ago, I met Allan Kempert. Allan... Read More
Ok, you say, I know I need a budget, but... Read More
The business books at the library and book stores fill... Read More
Your impact at meetings will determine in a big way... Read More
How many times have you asked someone to do something... Read More
Jack Welch joined a conference that was held in Duke... Read More
Following is a brief definition of core competencies and competitive... Read More
How can you make the best use of your energy... Read More
Management guru Tom Peters says white collar workers and managers... Read More
Recognizing good performance through praise or other positive action is... Read More
TEAM DECISION MAKING: Managers who invite participation believe that people... Read More
I believe the media and our culture sends the wrong... Read More
Since the beginning of the industrial era our world has... Read More
The problem with communication is the illusion that it has... Read More
Excess capacity in an automobile plant at Ford, Chrysler, Toyota,... Read More
Safeguard Your Company Against Harrassment ClaimsTwenty-five percent of employees suffer... Read More
So I call my telephone company and someone picks up... Read More
Wouldn't it be nice for business owners and executives to... Read More
Q: I started my small business about a year ago... Read More
As your website grows in terms of attracting more footfalls,... Read More
Creativity can be defined as problem identification and idea generation... Read More
Each year many people create a list of resolutions designed... Read More
THE PERFORMANCE REVIEW MEETING: It's a fact - most supervisors... Read More
Insightful leaders and organizations recognize that training is a valuable... Read More
Before you start your own business one of the first... Read More
There's a common phrase used by Organizational Development and Human... Read More
While it's probably not true to say that the traditional... Read More
If you are a business owner or a business owner... Read More
Creativity can be defined as problem identification and idea generation... Read More
The second you quit being the 'best deal' for your... Read More
COMPANY/ORGANIZATIONA South Florida hospital. The CEO of the hospital saw... Read More
In a competitive world with the need for businesses to... Read More
Why do some new managers succeed while others fail? It... Read More
I saw Brian Kerr (the Irish national football coach) on... Read More
The senior flight attendant on the WestJet flight was starting... Read More
Performance Management is a process that both employer and employee... Read More
Left alone it doesn't take long for a building with... Read More
I believe that whether corporations expense their stock options is... Read More
Despite the fact that everyone sighs "How glamorous!", the life... Read More
Facilitating good communication can make the difference between a well... Read More
Innovation is different and distinct from creativity in that it... Read More
A series of articles exploring the seven critical areas that... Read More
I've just been reading about the frustrations of a Human... Read More
Take the pain out of gain and decrease the upheaval... Read More
Employee performance reviews are one of the most dreaded tasks... Read More
Geshe Michael Roach is a Princeton graduate and a Buddhist... Read More
My client had faced the same challenge, which was frustrating... Read More
When we're selling to business people, our value proposition has... Read More
There are many reasons why good employees quit and go... Read More
To develop and deliver a great Leadership Talk, you must... Read More
An important aspect of good leadership is the ability to... Read More
MANAGING SMALL MEETINGS: Keep the size of the meeting as... Read More
Teamwork is a process that can be experienced outdoors and... Read More
Quick, Easy, and Even Fun! 1. Smile, say "Hi! How... Read More
Do you want to measure your workers' level of satisfaction?... Read More
Business Management |