KEY ACCOUNT RELATIONSHIPS
Whether you are the customer or the supplier in a major account or contract relationship, you are likely to have a large percentage of your revenue, risk and profitability dependent on its success.
Need to optimise, retain or grow a critical account or contract?
Initial excitement around winning a key account is a tenuous thing. If all goes well, both companies benefit. However, a shockingly sizeable percentage of these relationships fall into a pattern of delivery frustration, increased costs, lost profits and terminated contracts.
%
Successful key account management delivers 34% higher profitability & 63% lower customer attrition
(Gallup)
Chief sales officers (CSOs) rarely get the outsized returns they want from key accounts
(Gartner)
%
70% of customer defections are due to a breakdown in the relationship
(Forum Corp)
With multiple stakeholders at play, the least talked about issues can be the ones causing the biggest headaches or putting the entire account or contract at risk. These issues are usually a result of the disconnect between expectations (over and above contractual agreements and typically unspoken) and the supplier or client’s ability to meet them.
Surprisingly, these unmet expectations often revolve around simple aspects of communications, proactive collaboration or process efficiencies, but until you surface the priority expectations for your key account you are not able to address them constructively.
UNLOCK HIDDEN EXPECTATIONS
Understanding and mapping your customer’s or supplier’s expectations enables clarity and alignment around how to succeed with your key account.
INSIGHT THAT INFORMS DECISIONS
Unique performance insights tell you where, how and by how much you need to improve or reset core elements of the key account relationship. This enables targeted decisions designed to strengthen the relationship and optimise ROI.
ACTION WITH TRACTION
Expert consultants workshop the research results with you, combining key levers of customer collaboration, creativity and change facilitation to unearth and fix underlying issues, whilst creating opportunities and win/win relationships.
Case Studies
Client: Rapier Group
Sector: Advertising
Scenario: Strategic Partnership
Understanding customer expectations drives up sales
Client: Airbus
Sector: Aerospace
Scenario: Strategic Partnership
Aerospace supplier secures new prime contract
Client: WTW
Sector: Insurance (broker)
Scenario: Strategic Partnership
Broker brings their client closer and protects profit
WHEN YOU’RE DEEPLY INVOLVED IN A KEY ACCOUNT/CONTRACT, IT CAN BE HARD TO MAINTAIN OBJECTIVITY
Detecting early erosion in a business relationship, identifying pain-points, enhancing setback management, and improving communication can counter most pitfalls.