the most important “p”: people how multi-dimensional relationships lead to customer valued...
TRANSCRIPT
The most important “P”: People
How multi-dimensional relationships How multi-dimensional relationships lead to customer valued innovation, lead to customer valued innovation, enhanced loyalty & positive business resultsenhanced loyalty & positive business results
Presented by:
Michael HappeVP and GM - Toro Commercial BusinessThe Toro Company
People is the missing “P”
• Frequently taken for granted,
often underutilized…
…and (in our view) the most Important
#1
What’s in it for me?
• People are important to every business!
• Multi-Dimensional Relationships can have a significant impact on your results.
• Alignment of Resources around Relationships can have a powerful impact on the quality and depth of:
1. Voice of Customer Input for Customer Valued Innovation2. Customer Loyalty3. Business Results4. Employee Engagement
• People can clearly differentiate you from Competition!(MDRs are impossible to replicate – especially when done well)
What are Multi-Dimensional Relationships?
• Relationships you build(i.e. the company’s “social network”)
that positively influence your brand from the:
– Inside
– Outside
– Via Direct Connections
– Via Indirect Connections
Five Key Areas of Focus… Who does the Decision Maker Listen to?
• Who impacts your customer the most?– Channel Partners– Industry Associations– Key Influencers– Collaborators
• Agencies• Researchers• Suppliers
– Employees– Other Customers
Customers&
[other customers]
Employees
DistributionChannel
StrategicCollaborators
IndustryAssociations
KeyInfluencers
The inter-connections are hard to visualize The inter-connections are hard to visualize and can take years & constant attention to solidify, and can take years & constant attention to solidify, but they are difficult if not impossible to replicate!but they are difficult if not impossible to replicate!
Channel Partners
• Partnership vs Transactional– Exclusive Relationships– Extensive Training / Professional
Development– Leadership Retreats / Meetings– Channel Advisory Boards– Continuous Improvement
Initiatives– Customer Satisfaction Metrics– Co-op Market Development
for Relationship Events– Recognition / Incentive Programs
Distribution
Channel
Industry Associations
• Trade Show Event Support• Quarterly Partnership Meetings• Board of Director Service• Committee Involvement• Sharing Connections
– Channel/Chapter connections– Content resources
IndustryAssociations
Strategic Collaborators
• Develop Long-term Partnerships– With Key Suppliers
– With Agencies/Vendors
– With Research Partners
• Invite them into the Customer’s World• Leverage their growing knowledge
of your Customers• Expand perceived expertise
to external resources
StrategicCollaborators
Key Influencers
• 1 on 1 Assignments (e.g. Corporate Accounts)
• Create and Activate around Dedicated Events
• Association Leadership Development
• Host Meetings at your site
• Connect them and they will connect you
• Make them part of the VOC process
KeyInfluencers
Other Customers
• Peer Testimonials Carry Ultimate Credibility• Create Group Relationship Events
– Combine Business & Pleasure
– Smaller can be much Bigger!
– Listen and Encourage Group Discussion
• Win Over Industry “Beacons”
Other Customers
Five Key Areas of Focus… Who does the Decision Maker Listen to?
• Who impacts your customer the most?– Channel Partners– Industry Associations– Key Influencers– Collaborators
• Agencies• Researchers• Suppliers
– Employees– Other Customers
Customers&
[other customers]
Employees
DistributionChannel
StrategicCollaborators
IndustryAssociations
KeyInfluencers
The inter-connections are hard to visualize The inter-connections are hard to visualize and can take years & constant attention to solidify, and can take years & constant attention to solidify, but they are difficult if not impossible to replicate!but they are difficult if not impossible to replicate!
Resource Alignment & Integrated Marketing
TechniciansTechnicians
OwnersOwners
SuperintendentsSuperintendents
DecisionDecisionMakersMakers
Brand ContinuityBrand Continuity(Integrated Marketing)(Integrated Marketing)
• Marketing Messages
• Channel Programs
• Key Events
• Association Support
• Direct Contact
• Key Influencers
Marketing Resource AllocationsMarketing Resource AllocationsMarketing Resource AllocationsMarketing Resource Allocations
11
22
33
• Integrated Marketing Programs intended to build the brand throughout the “social network” require both a singular theme and targeted messages
• Resource alignment for each key buyer persona/group must be viewed both independently and collectively.
• Investment & activation - visible at all levels!
Product Advertisements
Benefit
Theme Count on it!
Featured Product
• Small Product• Beautiful Course• Anywhere USA• Less is More!
(Examples)
Owner Advertisements
ValueCategory
FeaturedExperts
Theme Count on it!
Benefit
• Small Product• Beautiful Course• Anywhere USA• Less is More!
(Examples)
Moving forward to “The Right Choice”
ValueCategory
Theme
Count on it!
Benefit
(Examples)
Return on Relationships
• Voice of Customer Input for Customer Valued Innovation• Frequency of Discussion Around Customer’s Problems,
Needs and Constraints Increases Exponentially
• Consistent Ability to Leverage Confidential VOC “Collection” Opportunities
• Efficient Solution “Validation” Process
• Customer Loyalty• Most People Would Prefer to Do Business with Trusted “Friends”
• Suppliers That Own the “Discovery Advantage” Have Edge on Competition Surprises
• DWWSWWD Earns Repeat Business
• Business Results• High Customer Satisfaction & Zealotry Equals Profits
• Higher Retention Spending = Lower Conversion & Recapture $
• Increased Ability to Manage Sales Opportunities
• Employee Engagement• Much More Fun to Sell Relationships Than Widgets
• Second Family / Home Emerges
Easy to say, hard to do… Why?
• Identify ALL the stakeholders in the buying process and understand their roles
• Investing in relationships requires buy-in and discipline:– Internal: The company culture needs to “get-it”
• “Consumed” by & passionate about customer needs• Relationship skills are critical and must be sustained
– External: Channel Partners / Collaborators must act consistently and understand their value proposition
• Learn the “dance steps”• Know when to say “no”
• It is a long-term commitment– Customers and Influencers know when it is (or isn’t) genuine– Finding the right balance of time and $ resources will take trial and error– Two way accountability is imperative
• Never burn bridges– It’s a small world– Taking the high road in defeat can pay off in the long run
The model is always ON
• The only way it truly worksis if the model is always on!
The social network of relationships is a continuous loopof understanding,serving, partnering,caring, and resolving…
Serving
Partnering
Under- standing
Caring & Resolving