These are some of the concepts that are helping the modern sales organisation effectively engage with their most demanding customers and prospects.
Customer Value Proposition – The total offer as perceived by the customer. It’s the interdependencies and emphasis of the various elements that creates a unique CVP (or not). Salespeople, and the way they engage and add-value (or not) with customers are part of the CVP.
Procurement – A more sophisticated version of purchasing. Real procurement teams look at more than the price, poor ones don’t. The challenge for salespeople is to build Customer Equity (see below) with decision makers, turning procurement teams into order placers. For more on Procurement see this article.
Sales Strategy– The way the sales organisation intends to take the CVP(s) to market. This should be a sub-set of the Corporate Strategy. Like all good strategies it should vigorously discriminate, choosing only the options that will make its customer approach and engagement distinctive. Field based sales people are only part of the Sales strategy.
Wallet Share – The way a sales organisation calibrates the size and type of opportunity in each client. Analysing the actual, available and total Wallet Share is the insightful way to unlock customer potential. SalesPathways have a proprietary process for doing this click here .
Customer Equity – The amount and depth of knowledge, personal relationship and leverage the selling organisation has with a particular customer. The quality of customer equity is directly related to the opportunity and partnership potential of a target customer.
Customer Extranet – A place where a supplier can offer a customer a private space to view all the material connected to their relationship. The potential for adding additional value is significant, creating an additional service adding to the sellers CVP.