Published on March 1, 2014
SS Ten Slides in Ten Minutes: Thinking about Strategic Market Development [Capturing the Hearts and Minds of Prospects & Clients] Presented by: Bill Graham APM.APMP firstname.lastname@example.org March, 2014 1
The Sustainable Business Imperative Making the competitors irrelevant Absent Emerging Pervasive Dominant Exclusive Symbiotic relationship with clients Focus on Client’s Business Imperatives Strategic Market Development expedites the journey Sustainability People Performing Pertinent Projects Particular Places Building mutually beneficial and sustainable long-term client relationships Source: www.sales-synthesis.co.za 2
A Company’s Success is Determined by the Market Revenue Awareness & Intent Consumer pressure New competitors Turnaround New technologies Competing products Dropping unit prices Capable leadership Integrated company Product innovation Reduce cost Trajectory with no intervention Strategic Decisions Influence the Journey Time Strategic Market Development positions and elevates an organisation within the Target Segment Source: www.melroseatteridge.com & www.sales-synthesis.co.za 3
Strategic Market Development is embedded across Business Acquisition Growing an organisation’s market-share by entering new segments of the market, converting prospects into clients and/or increasing client spend. Elements must be tailored to the organisation Syndication & Synthesis ‘Market Needs’ Research Define Target Segment/s Business Strategy Engagement Modelling Understand Client Strategy Work the Account Plans Link Plans to Strategy Focused Campaigns Develop for the Marketplace and filter for each Client [or Target Prospect] All Elements must support Marketplace & Clients’ Needs - and the Organisation’s Business Strategy - 100% Strategic Market Development - Supported by Strategic Market Development - Primarily C-Level & Board Members 4
Strategic Market Development supports Account Management Market Management Client Abundance of Solutions Prompts: • Global trends • Industry knowledge • Unfolding opportunities • Emerging risks Account Managers should be “Thought Leaders” in specific industries Relationship Building Prompts: • Pedigree/s • Preferences • Requirement/s for advancement • Resource alignment • Communication plan/s Account Managers need to be articulate & be the Single Point of Contact [SPOC] Selection of Solutions Opportunity Scouting Mutually Agreed Solutions Prompts: • Wants vs. needs • Resourcing requirements • Solutions vs. Risks • Ability to deliver • Competition Account Managers need to understand the clients’ needs and deliver against this need Client Crusades and Campaigns support the full lifecycle of Opportunity Management Source: www.sales-synthesis.co.za 5
Strategic Market Development supports Opportunity Management A multi-phased process to identify ‘business-relevant’ opportunities that, when closed, sustain a company. Account Management Focus Opportunity Management Actions Market Management Drive Opportunities Relationship Building Opportunity Scouting Craft Solution/s Qualification Client Crusades and Campaigns support the full lifecycle of Opportunity Management Source: www.sales-synthesis.co.za 6
Undertake Rigorous Situational Analysis When developing strategies, analysis of the organisation and its environment - as it is at the moment and how it may develop in the future - is an imperative. The analysis has to be executed at an internal level as well as an external level, to identify all possible opportunities and threats posed by the strategy. There are several factors to assess in the external situation analysis: • • • • • • • • • Industries & Trends Markets (customers) & their business imperatives Competition & their value chain Technologies & their pedigree Solutions portfolio Supplier markets Labour markets The economy The regulatory environment. Symbiotic relationship with clients Store the munitions for your journey and craft the plan [Who, When, Where & How etc.] 7
Strategic Market Development supports ‘Internal’ Process Mapping EXCO Source: Annemarie van der Walt & Bill Graham BU1 BU1 BU1 Finance Legal Risk Service Management Project Engineering Bid Management “Centres of Excellence (CoE)” Engine – Functional Grouping Tactical Strategic Forum / Committee BU1 Quality Management (Chairperson : rotating every 12 months) (Secretariat : Quality ) BU1 Definition & Ownership - Plans - Policies - Processes - Standards - Methodologies - Templates - Reviews BU1 BU1 Actions Implementation Skills BU5 BU4 BU2 BU3 Actions Implementation Skills BU5 BU4 BU2 BU3 Actions Implementation Skills BU5 BU4 BU2 BU3 Actions Implementation Skills BU5 BU4 BU2 Actions Implementation Skills BU5 BU3 BU4 BU2 BU3 Actions Implementation Skills BU5 BU4 BU2 Actions Implementation Skills BU5 BU2 BU3 BU4 BU3 Competence Management - Governance - Direction giving - Watchdog (Review BARs) Actions; Implementation; Skills - Includes Regions - Virtual Teams with Involvement of relevant SMMs Enablers Group Information Management Knowledge Management Support System(s) - Document Management - Knowledge Mgt. - ERP system - Sales System - etc. Collateral: Industry / BU Embedded Specialist Knowledge Operational Learning Management - eLearning - Orientation - Learnerships / Training Business Practice Alignment - Application of standards - SMEs - ERP - Microsoft etc. 8 Quality Management (e.g. Conformance Reporting - including BARs)
Strategic Market Development must Promote Relevant Solutions Growing an organisation’s market-share by entering new segments of the market, converting prospects into clients and/or increasing client spend. Solution Sales: Value Symbiotic relationship with clients Commodity Sales: Price Trajectory of Effective Promotion All Elements must support Marketplace & Clients’ Needs - and the Organisation’s Business Strategy 9
Organisations need to Maintain Relevancy in ever-changing Markets Strategic Market Development is a ‘living’ process Growing an organisation’s market-share by entering new segments of the market, converting prospects into clients and/or increasing client spend. All Elements must support Marketplace & Clients’ Needs - and the Organisation’s Business Strategy 10
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