stages of development - International Business Growth Radio Network

SHOW & CHAPTER 27: HELPING THE CUSTOMER MAKE PROCESS IMPROVEMENTS - WILLIAM EASTMAN

18/5/2022

Given your moves to improve the cost picture of the business, it is time to share how those cost reductions were achieved without affecting product or service quality. Since you are using a systematic approach to achieve LCP (Lowest Cost Producer) in comparison to the competition, there shoud be a report produced. Share it with the targeted customers how you were able to lower their prices and see if they are interested in obtaining the same with your support.

Show Objective
Given the shows on Data Based Customer Relations and Inside the Customer, create a plan to bring your expertise to the customer and help them achieve the Lowest-Cost Producer in their markets.

EPISODE 125: Summary
Given your moves to improve the cost picture of the business, it is time to share how those cost reductions without affecting product or service quality were achieved. Since you are using a systematic approach to achieve LCP (Lowest Cost Producer) in comparison to the competition, there should be a report produced. Share that with the targeted customers to see if they are interested in obtaining your support for their initiatives.

Topics:

Schedule a meeting with the owner / key executives to present your report,
If they are interested, present the report to their leadership and management teams,
Provide them with your template for achieving similar results,
Support their initiatives as needed.

EPISODE 126: Your LCP Report
We discussed this in Shows 6, 10, and 13. During those conversations we discussed documenting your methods for making the improvements. That was an internal document, now you are converting it to marketing collateral. Its publication alone will create a competitive advantage for how you can achieve the same or better quality and features at lower cost.

Now you are going to use it as a tool for helping your core and most profitable customers to help them through the economic downturn. If they survive and continue to buy from you, is there a better definition of win-win?

Topics:

How to conduct a value mapping process
How to benchmark competitors
The difference between "AS IS', "SHOULD BE", AND "TO BE" objectives
How close was the 'SHOULD BE" to the "TO BE" and why you couldn't close the gap
What were the lessons learned and final results
How did it affect the target customers account and relationship

EPISODE 127: Sharing the Cost Savings with the Customer
This next step will require you to do something not often practiced and dangerous - sharing your cost and margin numbers with customers. In a normal setting this could provide pushback on your pricing, but during an economic downturn when everyone is scrambling to stay in business it will have the opposite effect.

What B2B customer would turn down a request to strengthen their core and stay in business when so many are struggling or dying?

Topics:

Changes in how your offer (products & services) are tiered
Changes in pricing structure
Impact on costs and margins

EPISODE 128: Supporting Their Efforts to Achieve LCP

Let's start with you doing the right thing and keeping the best interests of your business in mind. The bonds you build with an individual customer and your network of customers are enormous. You will truly be creating a powerful network of customers for life and ambassadors for your brand.

Topics: