S12 E9-12 (HOLDING YOUR BEST ACCOUNTS) - DATA BASED RELATIONSHIPS WITH WILLIAM EASTMAN

All the evidence says the United States, and the world, is on the edge of a recession. This is a fact that business owners don't control, except in response.

​Using the perspective of managing the business based on the economy, there are two rules: in a (1) contraction - strengthen your core to (2) gain a multiple in the next expansion from processes under control and therefore better margins.

Understanding of the customer's buying process is critical to driving content creation, product development, sales follow up, and anything else that affects acquisition or retention.

The essence of all business relationships is data. That includes quantitative (numbers) and qualitative (feelings) to build a complete picture of the relationship. Most businesses, the large included, focus on just one. However, both are required to tell the story of the customer's relationship with the offer and doing business with you. Later on, when we discuss how to gain the customer’s support for improving the offer or creating a new one - this is essential.

Show Objective
​Given a method for designing a data-based measurement system for customer relationships, create a unique model that fits your organization and customers that completes the picture of business performance. The goal is to measure CUSTOMER ENTHUSIASM.

EPISODE 9: MEASURING CUSTOMER ENTHUSIASM (support podcast)
This is one of the more significant decisions you will make for the business. Your goal is to get it right early, both in what you are going to measure and in how the data will be collected and organized. In 5 years, this data will become a precious resource and have a positive impact on the businesses valuation.

The best place to start is looking at how you are measuring internally and asking the question, " What don't we know? For example, you measure how long it takes from a sale to delivery (Dock-To-Dock), then measure the performance of each step in the process for cost and quality (Takt Time or actual performance against what was scheduled which includes quality). Your quality metric is both external and internal - what does the customer think when they receive and use the product / service? Does it meet their expectations for promise - results, ease of use, ontime and budget?

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Monday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, most profitable customers, holding best accounts, customer retention, managing by data, customers, IBGR, IBGR Network, William Eastman

EPISODE 10: COLLECTING AND INTERPRETING QUANTITATIVE DATA (support podcast)
When we talk of Quantitative Relationships, it is about the skeleton - the numbers. There are three basic types of data collection tactics. The first is a Point of Sale Survey - what happens when they buy? Moving up the data collection ladder are Periodic Surveys to sample the customer. The last is a yearly Organizational Assessment using all the information collected to understand the state of the relationship, given how you responded to earlier survey data. Now that you have a skeleton, time to hang some muscle on it. 

Topics:

1. Point of Sale
   1. At the Customer's Point of Sale
   2. At your Point of Sale
2. Periodic Surveys - Reactive and Proactive
   1. Reactive - incident based
   2. Proactive - pulse taking
3. Organizational Assessment - 2 Part 
   1. General questions to compare clients
   2. Specific questions based on periodic surveys

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Monday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, most profitable customers, holding best accounts, customer retention, managing by data, customers, IBGR, IBGR Network, William Eastman

EPISODE 11: COLLECTING & INTERPRETING QUALITATIVE DATA (support podcast)
The Qualitative Relationship is to capture comments and opinions from your and the customer’s front line personnel. This is a series of questions driven by Point of Sale Surveys. Next is occasional Focus Groups where you propose changes based on collected data. You want to know if it is working. Finally, at the top of the data collection ladder are the Executive Advisory Groups, where you report on the relationship, what you have fixed, and the impact. This provides two critical opportunities: demonstrating changes made to improve the relationship and a chance to probe for new opportunities.

Topics:

1. Point of Sale
   1. Their Front Line - comments
   2. Your Front Line - comments
2. Focus Groups
   1. Share collected data to gain their interpretation and conclusions
   2. Testing new processes or features
3. Executive Advisory Groups
   1. Discuss your report on the 'State of the Relationship', ask for guidance going forward:
      1. Results Expectations - does the product / service deliver on promise
      2. User Friendliness (UX) - how easy is it to use
      3. Relationship with your business - where is the friction between the 2 organizations that needs to be removed

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Monday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, most profitable customers, holding best accounts, customer retention, managing by data, customers, IBGR, IBGR Network, William Eastman

EPISODE 12: BUILDING A WORKING MODEL OF BEST ACCOUNTS (support podcast)
The first decision is what mix of these 6 approaches fits your business and the nature of customer relationships.. The minimum is the ability to produce a 'State of the Relationship Report' and work backwards from there. You must have at least 1 quantitative and one qualitative source.

The second decision is to build your own or buy surveys and assessments. If you are concerned only about accuracy, you can build your own and then test with the client to ensure it is valid (measures what it is supposed to measure) and reliable (everybody interprets the questions in the same way).

If you are interested in purchasing existing surveys and assessments, IBGR has a full suite that will provide a great place to start.

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Monday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, most profitable customers, holding best accounts, customer retention, managing by data, customers, IBGR, IBGR Network, William Eastman

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