Develop Markets

  • Develop Markets
    Optimize Growth

    Diagnose Challenges, Create Solution, Deliver

    To create a solution, the following approach is taken:

    • Diagnosis of Challenges - What are the issues that are impeding optimal growth?
    • Create Solution to optimize growth based on challenges diagnosed.
    • Delivery of the solution using project management techniques.


    The deliverables from the solution will include:

    • Revenue and other Target Achievement (Margin, Market Share, Customers & Costs)
    • Positive Customer References
    • Accurate Forecast
    • Healthy Pipeline

  • Diagnose
    Challenges

    Diagnose Challenges

    The diagnosis covers all of the major elements necessary to deliver business growth: the customer profile, the value proposition, the go to market team, customer relationships, customer references and the revenue streams compared to forecast and pipeline analysis. Information will be obtained from internal and external sources - customers and prospects being very valuable sources. Typically the problems found include:

    • Value Proposition is not delivered:- This may be because (i) products and services are not delivering what was promised or (ii) products and services deliver as promised but what it promises does not offer compelling value to customers.
    • No Positive References:- References may not be available because (i) there are customers in early stage of implementation and are not yet willing to be references, (ii) customers who have final installation but are not sure or not happy with the solution and are unwilling to be suitable references or (iii) No suitable customers have been won yet.


    • Missing Revenue Targets:- Is this localised by sales person , by segment, by geography, by product or is it generic? Are the targets reasonable? Are the sales people appropriately targeted, trained, & motivated. Is the sales team the right type? Is the sales coverage adequate. Is the product value compelling? Are there sufficient positive references?
    • Inaccurate Forecasts:- Is it localised or generic?
    • Pipeline too small:- Is it localised or generic?
    • Go To Market Team has unclear plans:- Are they poorly communicated or poorly conceived?

    These are high level symptoms and will lead to other symptoms such as unclear messages, not understanding business issues, not controlling the sale etc.

  • Create Solution
    Summary

    Create a Solution to Optimize Growth

    The challenge diagnosis will dictate a solution that will optimize some or all of the following:

    • Ensure that the customer profile reflects customer needs.
    • Ensure that the value proposition delivers compelling value.
    • Ensure that the Go To Market team is effective and efficient and match customer relationship requirements
    • Ensure that a methodology exist to build effective customer relationships that will create positive references.
    • Deliver Revenue streams, accurate forecasts & a healthy pipeline


    A project plan will be created to deliver the improvements and to optimize each element to deliver the growth required.

  • Create Solution
    Customer Profile

    Optimize Customer Profile

    Review Customer Profile

    Does the company understand the segments it is addressing and is it addressing the right market segments for its value proposition and its competences. Is the company addressing the early market (innovator or early adopter) or the mainstream market (early or late majority) The needs are very different and the sales approach is also very different.

    Is there a company that has already built a relationship with the customer segment. What is the value proposition of that company? What are the strengths and and weaknesses of that company?


    This review will also consider the following questions:

    • Is the Customer Profile an addressable market segment with common needs and buying process.
    • Are the needs are understood?
    • What value proposition is required?
    • Is the buying process understood? Are the key players understood?
    • Is the price that the customer is willing to pay understood?
    • What is the profitability of the segment?
    • What relationship is expected by the customer
    • What messaging is required and when?
    • How may leads be generated?

  • Create Solution
    Value Proposition

    Optimize the Value Proposition

    Delivering customer value is a foundation of successful business growth. The products and services must therefore deliver (and be seen to deliver) compelling value. A compnay cannot be successful without it.

    Diagnosis:-

    • Requires Development:- (i) Still in Development and not delivered (ii)Delivered but has bugs (iii)Perceived as non differentiated
    • Requires Partner Products - Perceived as not providing the whole solution.
    • Requires Pricing Review - Perceived as too expensive.
    • Requires Better Value Presentation - Value just not understood.






    Remedy:-

    • Achieve High level Focus to Finalise Development
    • Create Whole Solution - The construction of the solution may be done directly or via a third party such as an integrator. In Early markets the customer will normally provide this function either directly or via a third party.
    • Pricing Review - Ensure that value is demonstrated clearly by better presentation or if required a pricing reduction or re-organization.
    • Better Value Presentation - Include all the value elements and simplify presentation in line with the customer financial modelling. Include as a standard sales tool.

  • Create Solution
    Go To Market Team

    Optimize Go To Market Team

    The Go To Market team symptoms diagnosed will guide the review process. The sales process and team will be of particular importance. The review will normally consider the sales model,the pipeline and then to under-performing individuals.

    • First, does a sufficiently robust sales model exist - including a sales process and sales management system especially? Does the model provide sufficiently accurate information to enable further diagnosis? If not then this must first be remedied.
    • Then the pipeline must be investigated to see where the problems lie. This may indicate problems with lead generation, with qualification, with solution creation and proposal or with negotiation and closure. Such problems may be remedied by engaging marketing to assist in lead generation, in creation of sales tools and in generation and communication of messages to the key player list. The solution may also include specific coaching and training.


    The Sales Team may have all the tools but may be under-performing generically or in localised pockets.

    • Generic:- (i) Does the sales team have the wrong sales skill-set? (ii) Or is, for instance, technical support required to better create solutions? or (iii) Is the sales team the wrong channel for the product?
    • Localised:- (i) Are performance problems caused by geographic or customer variations? (ii) Do the sales persons have different backgrounds and require specific training and coaching? (iii) Does the sales team (as a last resort) require replacing or restructuring?

  • Create Solution
    Customer Relationships

    Optimize Customer Relationships

    What are the motivations behind the customer relationships? Acquisition, Retention or Upsell.? Is the company using the right vehicles to build the customer relationship and to deliver messages and value. Often there are problems with the direct field sales team and its ability to win new breakthrough accounts. The review will consider the customer buying process, the Sales Process to ensure before considering any under performing individuals.

    • Targeting
    • Qualification
    • Solution Specification
    • Key Player Management
    • Analysis and Presentation of Value
    • Negotiation and Close
    • Resource Allocation, Focus and Support

    The solution may require the implementation of a wholly new sales process or to tailor/remedy the existing process to address specific problems. Use the New Accounts Section as a reference.


    The Sales Team may have all the tools but may be under-performing generically or in localised pockets.

    • Generic:- (i) Does the sales team have the wrong sales skillset? (ii) Or , for instance, is technical support is required to better create solutions? or (iii) Is the sales team the wrong channel for the product?
    • Localised:- (i) Are performance problems caused by geographic or customer variations? (ii) Do the sales persons have different backgrounds and require specific training and coaching? (iii) Does the sales team (as a last resort) require replacing or restructuring?

  • Create Solution
    Customer Relationships (References)

    Create Positive References

    Customer references are essential to future sales. They are a powerful method of resolving risk concerns. Delivering value is not enough. You need references to show that you have.

    • Obtain Agreement On Deliverables - Work with the customer and the company to ensure that there is a written agreement on the deliverables.
    • Plan to Achieve a Positive Reference - Get an explicit agreement on what is necessary for them to become a positive reference.


    • Agree Internal High Level Focus and Plan - On achieving agreement with the customer, communicate to the company and ensure that a clear and well resourced project plan is in place to finalise the implementation.
    • Follow Up. Ensure Customer Satisfaction - Monitor regularly with the customer and the company and ensure that the customer is delighted with the service.