How to Fortify and Grow Critical Accounts
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Transcript of How to Fortify and Grow Critical Accounts
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AskForensics
How to fortify and grow critical accounts
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What We Will Cover Today
• Background on AskForensics• Why are companies not exceeding customers’
expectations even when they think they are?• How does service quality impact becoming a
“world class” partner? • How can a company achieve a competitive
advantage?• Q&A
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AskForensics
• Over 20 years of expertise• Works with leading corporations • Evaluated over $8B of business and identified
$3B of “at risk” accounts over past 6 years
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Most Accounts Have Some Level of Risk
2%
30%
58%
8%
Status Rating of Existing Accounts
Expansion Opportunity
Strong
Vulnerable
Damaged
% of Accounts
66% of accounts are vulnerable or damaged.
The implications are enormous.
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Why Companies are not Exceeding Customers’ Expectations
Issue: Services and support that AskForensics-Client is not providing that, if provided, would put AskForensics-Client “over the top” and make the company “best in class.”
Primary Reasons %
Account Support 34%Product and Service Quality 31%
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Account SupportComponent %Improve training for frontline staff 19%
More timely response to requests 17%
Offer proactive ideas 17%
Better understanding of requirements 15%
% of Accounts Mentioning Account Support
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Improve Training for Frontline Staff
• Includes management and service teams.• Vital to expanding and retaining existing
customers.– Direct and daily contact with customers. – Offer best practices and industry data/insights– Resolve day-to-day problems.– More interaction and leave more of an impression
than your sales team.
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More Timely Response to Requests
• Responsiveness a clear indicator of desire to meet and exceed expectations.
• All levels of your company must be responsive. – Corporate and support teams.– Front line and regional teams.
• Communicate what you have done to address customer’s needs and problems.
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Offer Proactive Ideas
• Customers look to you as the expert. – Rely on you to perform important tasks that they
cannot do themselves. • Customers want ideas, actions, and results.• When you are not proactive value can erode.• Don’t let competitors beat you to the punch.• Have a consultative, partner oriented
approach.
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Better Understanding of Requirements
• Not identifying and addressing needs leaves you open to problems.
• Teams closest to the accounts expected to have more intimate knowledge.
• Must communicate needs to others in your organization. – Frontline teams, support teams, and senior
leadership must fully align with your customer.
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Product and Service QualityComponent %Provide better quality products and services
40%
Continue to be creative 25%
Improve and maintain product and service consistency
25%
% of Accounts Mentioning Service Quality
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Provide Better Quality Products and Services
• Continually improve your offering.– Don’t let competitors set the bar.
• Offer better quality than competitors.– Achieve differentiation.– Avoid price as a focus.
• Do not become complacent.– Needs and expectations constantly change.
• When end users have choices you want high usage.
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Continue to be Creative
• Initiate and be proactive.– Selectively push the envelope.– Closely linked to understanding needs.
• Share ideas with clients.– Involve their input and participation.– Seek a partner level dialogue.
• Focus on enhancing your customer’s value.
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Improve and Maintain Product and Service Consistency
• Consistency shows quality is embedded in the company.– Not just related to the individual.– Must have bench strength.
• Maintain close gap between best/worst performers.– Minimize weakest link scenario.
• Communicate with your customer and within your organization.– Share best practices and ideas. – Implement and monitor.
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How to Achieve Competitive Advantage
The obvious:• Improve Account Support– Front line staff training– Respond quickly and thoroughly– Be proactive– Thoroughly understand requirements
• Improve Quality– Be best in class– Be creative– Improve consistency
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How to Achieve Competitive Advantage (Cont’d.)
The Not So Obvious:• Continually innovate and improve– Offer sustained improvements– No quick fixes that phase out over time
• Ask how your are doing and act on what you learn
• Conduct strategic business reviews– Continually assess needs and requirements– Solicit input – be collaborative and partner
oriented
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How to Achieve Competitive Advantage (Cont’d.)
The Not So Obvious:• Communicate your value – no one else will– Quantify direct and indirect value
• Maintain a cultural match• Make sure your entire organization is
committed to serving the client– Customer facing and support teams.– Make your background teams available.
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Thank You for Attending
AskForensics, LLCwww. AskForensics.com
Rick ReynoldsSenior Partner404-425-3107
Atlanta, GA USA