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The most important “ P ” : People. How multi-dimensional relationships lead to customer valued innovation, enhanced loyalty & positive business results. Presented by: Michael Happe VP and GM - Toro Commercial Business The Toro Company. People is the missing “ P ”.
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The most important “P”: People How multi-dimensional relationships lead to customer valued innovation, enhanced loyalty & positive business results • Presented by: • Michael HappeVP and GM - Toro Commercial BusinessThe Toro Company
People is the missing “P” • Frequently taken for granted,often underutilized… …and (in our view) the most Important #1
What’s in it for me? • People are important to every business! • Multi-DimensionalRelationships can have a significant impact on your results. • Alignment of Resources around Relationships can have a powerful impact on the quality and depth of: • Voice of Customer Input for Customer Valued Innovation • Customer Loyalty • Business Results • Employee Engagement • People can clearly differentiate you from Competition!(MDRs are impossible to replicate – especially when done well)
What are Multi-Dimensional Relationships? • Relationships you build(i.e. the company’s “social network”)that positively influence your brand from the: • Inside • Outside • Via Direct Connections • Via Indirect Connections
Five Key Areas of Focus…Who does the Decision Maker Listen to? • Who impacts your customer the most? • Channel Partners • Industry Associations • Key Influencers • Collaborators • Agencies • Researchers • Suppliers • Employees • Other Customers KeyInfluencers IndustryAssociations Customers&[other customers] StrategicCollaborators Distribution Channel Employees The inter-connections are hard to visualize and can take years & constant attention to solidify, but they are difficult if not impossible to replicate!
Channel Partners • Partnership vs Transactional • Exclusive Relationships • Extensive Training / Professional Development • Leadership Retreats / Meetings • Channel Advisory Boards • Continuous Improvement Initiatives • Customer Satisfaction Metrics • Co-op Market Developmentfor Relationship Events • Recognition / Incentive Programs Distribution Channel
Industry Associations • Trade Show Event Support • Quarterly Partnership Meetings • Board of Director Service • Committee Involvement • Sharing Connections • Channel/Chapter connections • Content resources IndustryAssociations
Strategic Collaborators • Develop Long-term Partnerships • With Key Suppliers • With Agencies/Vendors • With Research Partners • Invite them into the Customer’s World • Leverage their growing knowledge of your Customers • Expand perceived expertise to external resources StrategicCollaborators
Key Influencers • 1 on 1 Assignments (e.g. Corporate Accounts) • Create and Activate around Dedicated Events • Association Leadership Development • Host Meetings at your site • Connect them and they will connect you • Make them part of the VOC process KeyInfluencers
Other Customers • Peer Testimonials Carry Ultimate Credibility • Create Group Relationship Events • Combine Business & Pleasure • Smaller can be much Bigger! • Listen and Encourage Group Discussion • Win Over Industry “Beacons” Other Customers
Five Key Areas of Focus…Who does the Decision Maker Listen to? • Who impacts your customer the most? • Channel Partners • Industry Associations • Key Influencers • Collaborators • Agencies • Researchers • Suppliers • Employees • Other Customers KeyInfluencers IndustryAssociations Customers&[other customers] StrategicCollaborators Distribution Channel Employees The inter-connections are hard to visualize and can take years & constant attention to solidify, but they are difficult if not impossible to replicate!
Resource Alignment & Integrated Marketing Brand Continuity(Integrated Marketing) • Resource alignment for each key buyer persona/group must be viewed both independently and collectively. • Investment & activation - visible at all levels! DecisionMakers • Integrated Marketing Programs intended to build the brand throughout the “social network” require both a singular theme and targeted messages 1 Superintendents Marketing Resource Allocations Owners 2 • Marketing Messages • Channel Programs • Key Events • Association Support • Direct Contact • Key Influencers Technicians 3
(Examples) Product Advertisements • Small Product • Beautiful Course • Anywhere USA • Less is More! Benefit Featured Product Count on it! Theme
(Examples) Owner Advertisements • Small Product • Beautiful Course • Anywhere USA • Less is More! Benefit ValueCategory FeaturedExperts Count on it! Theme
(Examples) Moving forward to “The Right Choice” ValueCategory Benefit Theme Count on it!
Return on Relationships • Voice of Customer Input for Customer Valued Innovation • Frequency of Discussion Around Customer’s Problems, Needs and Constraints Increases Exponentially • Consistent Ability to Leverage Confidential VOC “Collection” Opportunities • Efficient Solution “Validation” Process • Customer Loyalty • Most People Would Prefer to Do Business with Trusted “Friends” • Suppliers That Own the “Discovery Advantage” Have Edge on Competition Surprises • DWWSWWD Earns Repeat Business • Business Results • High Customer Satisfaction & Zealotry Equals Profits • Higher Retention Spending = Lower Conversion & Recapture $ • Increased Ability to Manage Sales Opportunities • Employee Engagement • Much More Fun to Sell Relationships Than Widgets • Second Family / Home Emerges
Easy to say, hard to do… Why? • Identify ALL the stakeholders in the buying process and understand their roles • Investing in relationships requires buy-in and discipline: • Internal: The company culture needs to “get-it” • “Consumed” by & passionate about customer needs • Relationship skills are critical and must be sustained • External: Channel Partners / Collaborators must act consistently and understand their value proposition • Learn the “dance steps” • Know when to say “no” • It is a long-term commitment • Customers and Influencers know when it is (or isn’t) genuine • Finding the right balance of time and $ resources will take trial and error • Two way accountability is imperative • Never burn bridges • It’s a small world • Taking the high road in defeat can pay off in the long run
Under- standing Serving Caring & Resolving Partnering The model is always ON • The only way it truly worksis if the model is always on!The social network of relationships is a continuous loopof understanding,serving, partnering,caring, and resolving…