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 Are
only a small number of customers responsible for a
large volume of your business?
Then you should be focusing on 'locking them in' -
making it as hard as possible for competitors to take
even a tiny share away! Simon Lawson, Managing Director
of Blaine Richard Associates, reveals his top ten
tips for helping you to do just that.
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1.
Identify your 'dream' strategic accounts
All accounts are important - some are even more important
than others! Ask everyone who deals with customers for
their views on what makes for a 'dream key account profile'.
This way, they'll be much more inclined to buy in to
your final shortlist. |
2.
Assess how well we are performing with them
Some of the accounts close to the 'dream profile' will
also think that you are wonderful. They think that working
with you makes a real difference to their business.
Others haven't got there yet - especially if we are
not yet supplying them. Build a picture of your key
account portfolio to show where all your accounts are
in terms of closeness to 'dream' and closeness to 'think
we're wonderful'. Accounts scoring well on both counts
must be the real 'lock in' priority. |
3.
Make sure everybody knows who your strategic accounts
are
Once the management team has decided on the shortlist
of real investment strategic accounts, tell everybody
in the business. Give them the opportunity to work out
how they can support your development activities. If
the shortlist changes, make sure that they know it.
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4.
Identify business relationship stages
It's a long journey from, 'We don't know anything about
you' to 'you're wonderful'. Identify the steps on the
way and then assess how far you've got with your investment
accounts. |
5.
Select the right linking mechanisms to bind your two
businesses closely together
To achieve 'lock in', you'll have to do many things
supremely well. Identify the linking activities that
have brought you closer to key accounts in the past.
For which step on the relationship journey are they
most appropriate? Save your powerful activities for
later stages where the investment can make the biggest
difference. |
6.
Prepare detailed strategic account plans
Good key account plans keep you focused. You can also
share them with all the people who can help you to meet
your objectives. Keep them short - two pages or less.
Post the plans onto your intranet so that other account
managers can see what you plan to do. |
7.
Lobby all stakeholders
A plan is not a magic wand - putting someone's name
or department into a plan does not guarantee that they
will help you. Talk to them first and early. Express
the right amount of interest in their plans - they could
affect yours! |
8.
Mirror, mirror on the wall
A real 'lock in' focus area has to be ease of use. Assess
how easy it is for your investment strategic accounts
to use you (consider asking them!). Act on the results.
Mirror the key account's organisational structure in
your own, as much as you can. If your colleagues ask
'why should we?', say 'if we don't, someone else will'.
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9.
Build the right strategic account teams and promote
their importance
Unless your strategic account managers are super heros,
all of the above is all way beyond one person. Your
plan will show what needs to be done - select the right
team profile to deliver it. Concentrate on getting the
people mix as right as the skills. Make sure that the
team is empowered and work out ways to reward members
for exceptional team performance. |
10.
Promote the benefits of being a really good strategic
account
Where you have been able to achieve a high degree of
'lock in', concentrate on persuading the account to
become a better customer. For example, you may not get
enough lead time to respond creatively - ask for more.
You may be amazed how much all this impresses your colleagues
outside the key accounts function. Better-behaved customers
will be a major benefit from your successfully-implemented
strategic account management approach! |
Want to find out more?
Blaine
Richard Associates
1 Queens Gardens, Ilkley LS29 9QN
Tel: +44 (0)
1943 431822 Fax: +44 (0) 1943 816864
E-mail: JSiLawson@aol.com
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