Richard Wright

November 19, 2024

Account Performance Reviews

Richard Wright

November 19, 2024

November 19 2024 1 minute read

Richard Wright

Managing Director at ASPIRE Account Management

ACCOUNT PERFORMANCE REVIEWS

You’ll never achieve your business goals & targets without regular pragmatic reviews of your Account Management performance.

Therefore, in addition to any contractual commitments and aspirations for the Account, the frequency of internal Client Account Performance Reviews will depend on the size, complexity and potential of each Client.

It’s also very important that the right people are present to contribute on specific areas and take responsibility for all related action points. Again, these will vary according to Account size, complexity and potential but will always include the Account Manager and their line manager.

Sample checks and tips are given below:

AGENDA

Previous Minutes
Previous Action Plan
Mission Statement, Strategy & Goals
Business Performance/Market Position (both organisations)
Organisational & people changes (both organisations)
Current Work, Service, People &/or Product Contracts (incl. debtors)
Balanced Scorecard
Sales (orders won & lost, new opportunities qualification, other current opportunities & propositions)
Competitors
SWOT Analysis
Contact/Relationship Management
Missing Information (Account File)
Satisfaction Survey
Issues & Complaints (both organisations) - incl. cultural, management, people, budgets/estimates/forecasts, timescales, quality & contractual)
Hospitality/Entertainment
Account Manager Responsibilities/Performance
Critical Success Factors
Risk Management
Options & Forward Action Plan
Close (Any Other Business, date/time of next Review)

MAIN INPUTS

Account Snapshot Summary
Account File Details (incl. Client information held, meeting minutes, correspondence, contracts)

Balanced Scorecard
SWOT Analysis
Client Organisation Charts
Contact Management Plan
Client Progress Review Minutes
Satisfaction Survey
Sales Opportunities/Action Plan
Sales Propositions/Action Plan
Marketing Plan
Hospitality/Entertainment Plan
Account Manager Performance
Risk Management Analyses

QUESTIONS TO ASK under 8 headings:

Admin
Risk Management
Client
Client Contact/Relationship
Issues
Delivery/Performance
Sales
Competitors

AFTER THE REVIEW

In addition to updating the Account File, various other areas may require careful thought, consideration and rework including SWOT Analysis, Balanced Scorecard, Personal Performance & Objectives, Risk Management and Account Action Planning.

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 10 OF 12

"without regular pragmatic reviews of Account Performance you cannot achieve your goals and targets"

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Satisfaction Surveys

Account Management Blogs - the full set:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews (‘today’)
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

November 12, 2024

Balanced Scorecard

Richard Wright

November 12, 2024

November 12, 2024 2 minute read

Richard Wright

Managing Director at ASPIRE Account Management

BALANCED SCORECARD

The Balanced Scorecard is a performance management tool which will enable you to assess how well the Account Management process is working. It provides for the 'measurement' of several key areas, most of which are not financial.

This is particularly important as Company Boards invariably make decisions based on financial information. However, the Balanced Scorecard enables some very significant areas to be monitored which are outside the remit of Boards.

Conversely, it also provides for the measurement of areas which do fall under Board/Senior Management control and therefore enables you to be 'on top of your game' at all times; which is good for your Client, your Company, your colleagues and you personally!

This article explains what the Balanced Scorecard is as well providing a simplified example of how it can be used (which can be implemented in any small business enterprise).

There are 5 Categories to monitor, score and act upon:

Management
Financial
People
Client
Sales

Each Category has a number of Key Performance Indicators (KPIs) which, for initial ease of use, are marked either '1' for 'Yes' or '0' for 'No'. The overall Category score can then be expressed as a %. Then, the overall/combined % score can be determined for all Categories.

However, you may wish to develop a more sophisticated method of scoring once you have become familiar with this key area of Account Management and make any required modifications in the light of your experience. In its current form, some of the answers will inevitably be subjective.

It should be noted that every Level 1 KPI is a crucial indicator and must be regarded as mandatory.

Balanced Scorecards for individual Client Accounts should be reviewed and updated on a monthly basis.

A sample of KPI questions is given below.

Essential cross references to other key-related areas of Account Management are also given to ensure watertight coverage of the Client.

LEVEL 1 - Mandatory

All 20 Level 1 KPIs are considered crucial for effective Account Management to be achieved.

A. Management

Delays & Overruns managed to Client’s satisfaction?
Account Manager’s performance & qualities reviewed?

Each KPI: 1 for YES, 0 for NO

Total KPI Score must be 8 out of 8 otherwise Category/Account requires immediate attention. Each 'NO' requires the Account Manager to provide an explanatory paragraph with details of the next action, who & when.

B. Financial

Profit margin (%) increasing?
No debts older than 60 days?

Total KPI Score must be 4 out of 4 otherwise see Category A for actions

C. People

All colleagues' personal objectives geared to the Golden Rules?
Sickness less than 5%?

Total KPI Score must be 3 out of 3 otherwise see Category A for actions

D. Client

Issues/complaints resolved satisfactorily?
Relationship good?

Total KPI Score must be 2 out of 2 otherwise see Category A for actions

E. Sales

Sales opportunity pipeline rigorously qualified & improving?
Lost orders reviewed?

Total KPI Score must be 3 out 3 otherwise see Category A for actions

Click here for 10 more KPIs

LEVEL 2 - Highly Recommended

All 15 Level 2 KPIs are considered highly desirable but not crucial. If monitored, there is no doubt that your Client, Company, colleagues and you (the Account Manager?) will benefit significantly.

AA. Management

Value Added provided (freebies, technology updates, talks/presentations/seminars/training/etc)

BB. Financial

Next Month’s Revenue forecast higher than last month’s ‘actual’ Revenue?

CC. People

Each colleague working on Client Account scores 'positive' for team spirit/morale/teamwork, extra miles, Client knowledge, Supplier knowledge?

DD. Client

Client Satisfaction Survey in last 12 months?

EE. Sales

Value of new business/orders year-to-date greater than same time last year?

Click here for 10 more KPIs

The initial scoring of 1 for YES or 0 for NO for each KPI (as done for Level 1) will quickly reveal whether further action is required in any of these 15 additional key areas of Account Management. Overall absolute and percentage scores can then be calculated for submission to senior management if required.

Over time, graphs should be used to monitor performance trends.

Essential Module Cross Reference

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 9 OF 12

“the balanced scorecard is the only tool which enables you to establish exactly where you are and what needs to change in order to stay on course”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Account Performance Reviews

Account Management Blogs - the full set:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard (‘today’)
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

November 5, 2024

Sales Opportunity Qualification

Richard Wright

November 5, 2024

November 5, 2024 1 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

SALES OPPORTUNITY QUALIFICATION

Extensive amounts of time and money are frequently wasted in the pursuit of sales opportunities which either don't result in an order or, where an order is taken, there is either a very low profit margin or an actual overall loss. Also, in many ‘lost order’ cases, the bidder had little or no chance of winning the order in the first place.

Such financial losses and disappointments can so often be avoided by performing rigorous qualification to determine the chances of actually winning the order and also minimise the delivery risks should an order be taken to undertake work or to provide a service, people or product.

So, a thorough qualification exercise needs to take place at both the outset of the sales process and then on an ongoing basis if it’s decided to go ahead and bid. Because such a wide range of questions need to be asked, these are divided into ten separate groups. To make these easier to remember, the first letter of each group name is used to create the acronym COSMONAUTS.

As it’s virtually impossible to remember all the questions off by heart, ‘COSMONAUTS’ should at least help you to remember the ten groups, which will then hopefully trigger some of the key questions. This is so important as qualification doesn't conveniently happen all in one go. It can be spread over several days or weeks, even months, and sometimes in an informal exchange with the Client when you haven't had the opportunity to prepare.

Please note that the word 'contract' is used to represent all types of sales opportunity/order (individual assignment, project, service, people placement, product, etc). Also, the word 'Client' is used generically to represent both Clients and Prospects.

You’ll see that not all the questions are for the Client directly. Some of the required information will already be held in the Account File &/or known by the Account Manager and some by people who have worked, or are currently working, for the Client in question. Other information may be obtained from the Client's website, PR office, Annual Report & Accounts, etc.

You can also score the answers in each group and apply weightings according to your Company's view on importance, risk, etc. In any event, you should stop all further sales activity if you become concerned with the qualification outcomes to such an extent that they cannot be resolved to your satisfaction and therefore minimise the amount of time & money spent on an inappropriate sales opportunity.

Some example qualification questions are given below:

Competition - are they currently working for the Client, or done so previously?

Opportunity - would the contract provide important new Client contacts/business knowledge?

Solution - what are the strengths & weaknesses of your solution?

Money - are your cost estimates within the Client’s budget?

Objective - what is your Company's reason for pursuing this contract (strategic, tactical, financial, idle resources, etc)?

Need - what are the consequences of the Client not going ahead with the contract

Authority - who are the influencers & decision makers; do you have access to them?

Unique - are any of your USPs in the Client's decision-making criteria?

Timescale - can you realistically complete all the sales bid activities, in addition to what is to be delivered contractually, in the required timescales

Size - is the contract too big for your Company?

Click here for another 60+ qualification questions

Please also remember that qualification should continue throughout the sales process as circumstances & knowledge will be constantly changing on both 'sides'.

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 8 OF 12

“inadequate qualification of sales opportunities will have potentially disastrous financial consequences & a very damaging effect on morale”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Balanced Scorecard

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification (today)
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

October 29, 2024

Sales Propositions & Opportunities

Richard Wright

October 29, 2024

October 29, 2024 2 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

SALES PROPOSITIONS & OPPORTUNITIES

Where a Company’s organisation structure accommodates a formal sales team, sales and marketing activities will take place both inside & outside the Account Management (AM) process.

So, if there is no formal sales team, procedures relating to major bids, sales proposals, negotiation, etc. will need to be incorporated into the AM process. Where there is a formal sales team, their progress and risk management results will be fed through to the Account Manager on an agreed frequency.

However, as your Client Account will not survive without new business, everyone who represents your Company must be constantly on the lookout for opportunities to secure further work, no matter how small. Their 'sales-related antenna' should always be up, seeking opportunities to:

win work informally
be invited to bid for assignments, projects, services, people placements &/or products.
improve reputations and your Company's standing at any level in the Client organisation
enhance their own Client knowledge by attending presentations, briefings, meetings, social events, etc.

Also, you need to 'think outside of the box'. Ask yourself, ‘is there an opportunity here ?' (for you, others or your Company). Opportunities are often disguised, camouflaged by the hubbub of the Client's day-to day business activity. It will help to put yourself in the position of the Client and think on their behalf, look at things from their perspective.

Ask yourself why things are being done the way they are, what's the rationale, the justification - can you think of ways to make things easier, quicker, less stressful? (this will be 'adding value' which is particularly important when you are compared against the Competition).

Always be looking for a new revenue stream - stand back, think it through, what are the options/alternatives, apply some lateral thinking.

Also, when an ‘opportunity’ seems very difficult to deliver initially, be careful not to decline until a brainstorming session has been conducted.

Finally, never ignore or delay in responding to a Client request and remember that if you delegate you must ensure that you chase it up quickly (from the Client's perspective, you’re the person running with it, it’s your credibility that's on the line).

Some example checks, tips & questions are given below.

Essential cross references to other key-related AM areas are also given to ensure watertight coverage of the Client.

PROPOSITIONS

Whenever proactively seeking any new business with a Client or Prospect, the following questions should be asked:

does your Company have any propositions which specifically relate to a current need and/or problem already identified?
each product/offering/proposition will need to be ‘wrapped’/‘packaged’ in such a way that it appears to be specifically constructed for the individual Client

· tailor propositions to reflect/address specific Client issues, drivers and opportunities.

how & where will propositions add value/benefit to the Client?

Click here for another 15 checks & tips

OPPORTUNITIES

does your Company need to be a Preferred Supplier?
do you have access to influencers & decision makers?
are the right people available to prepare the Sales Proposal, negotiate and take the order?
are third parties involved?

Click here for another 13 checks & tips

PRACTICE

be proactive and seen as delivering ‘value add’ because opportunities frequently follow on from this - make sure you are tipped off regarding Client issues which you, colleagues or your Company may be able to quickly/easily resolve, free of charge
sell (promote) yourself, your colleagues, your Company; what makes your Company special (values, ethos & culture) but ensure compatibility with the Client; they have to like you, the two organisations have to be compatible - develop synergy
keep yourself and colleagues up to date regarding your Company's offerings but be very careful not to give the impression that you’re the experts even if some colleagues are very keen to be involved; there is a big potential danger here as opportunities for new work are often lost because the wrong people are involved. Enthusiasm alone is very dangerous
examples of your Company's successes should be highlighted wherever/whenever possible (particularly where there is a long-term trusting relationship) - anyone representing your Company on the Client site should have these to hand

Click here for another 18 checks & tips

THE COMPETITION

your Company must have up-to-date appraisals of the Competition which include strengths & weaknesses.
elaborate on your own, your colleague's and your Company's attributes/benefits. You therefore make it obvious where the Competition doesn't stack up against you - it's then very clear where the Competition's shortcomings are without directly saying so.

Click here for another 5 checks & tips

QUALIFICATION

regardless of whether it originates from the Client (Need/Opportunity) or from an initiative by your own Company (Proposition/Opportunity), it will be crucial to qualify each potential order throughout the sales process as circumstances, knowledge and relationships will be constantly changing on both sides
although you may have an excellent relationship with your Client contact and believe that you're home and dry regarding a particular opportunity, it must be qualified in a disciplined way. Never underestimate Clients; sometimes they are far more clever and devious than you think - a Competitor may be feeling just as confident as you, maybe even more so!
the qualification process also requires discipline and objectivity because although a sales order can be there for the taking, there may be sound business reasons not to continue. So, to ensure there is such discipline, people who are entirely neutral should also be included in the qualification/decision making process
because of this, the qualification process should be rigorously followed, remembering that you may need to qualify out at any stage of the sales process
each time you 'qualify', the Sales Action Plan must be updated.

Click here for another 72 checks & tips

ESSENTIAL CROSS REFERENCE

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 7 OF 12

“without opportunities for sales there is no future”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Sales Opportunity Qualification

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities (today)
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

October 22, 2024

Client Contact Management

Richard Wright

October 22, 2024

October 22, 2024 2 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

CLIENT CONTACT MANAGEMENT

Client Contact Management (CCM) is an essential component of Account Management, without it the whole process will either fail completely with the Supplier eventually being replaced by a Competitor or, as a minimum, result in significant loss of revenue & profit.

Although such drastic outcomes do not happen overnight, they may appear to! This is because a Supplier has not been aware of a gradually changing business climate which it could (and should) have adjusted to. In addition, vital sales opportunities will have been missed. All this because a system of CCM was not operated properly or maybe not even at all.

So, this article introduces the process & protocols to follow in order to achieve comprehensive, effective and consistent CCM.

Although CCM is primarily a fundamental process for all Account Managers and senior staff, anyone representing the Supplier who has direct contact with the Client (at any level) must be aware of how the process operates to ensure continuity.

Some example checks and tips are given below to give a flavour of just how important this component of account management really is.

Essential cross references to other key-related areas are also given to ensure watertight coverage of the Client.

Process

various Client individuals at all levels and in many, if not all, areas should be identified, highlighted/colour-coded on Client Organisation Charts and visits planned over an appropriate period of time by suitable representatives from your Company. Once contacted, the individual should be highlighted/colour-coded differently on the appropriate Client Organisation Chart. A map of Client contact activity will then be gradually built up for the whole organisation and maintained indefinitely
you will also need to nominate a very senior sponsor from your own Company (Board Member or Director). While this looks impressive and shows top level commitment, your senior person can be brought in at key times (eg. closing an order/signing a contract, putting senior Client minds at rest, major problem solving, etc.)
in addition to any outstanding information which may be required for the Account File, you and your colleagues should always be on the look-out for sales leads and also endorse your Company's credentials & ethos whenever possible
any expression of interest by the Client, no matter how small, must be passed on to the relevant person in your own organisation as a matter of extreme urgency - this will invariably be the Account Manager in the first instance
because of these key activities, everyone representing your Company should be briefed at regular intervals on your Company's sales propositions & capability, and reminded that these can be tailored to fit the Client’s specific needs. They will also need to be briefed and objectives agreed before each planned contact
many meetings/conversations with the Client will not be planned, occurring purely by chance. In view of this, you and your colleagues should always maintain a set of questions/discussion topics (tablet, mobile phone, organiser, etc.) which should be memorised as far as possible
these questions/discussion topics should be reviewed on a regular basis and everyone kept on their toes - so test them (unannounced tests/role play). One piece of information acquired informally in the car park, pub or corridor may prove invaluable in the longer term and result in extensive revenue/profit for your Company
click here for another 35 checks & tips

Practice

identify the key players at every level and believe me, there will be key players at the lower levels. These lower levels will inevitably contain an eventual rising star or two, or someone who's close to someone senior, or someone who mixes in important circles because they're just very good socially
establish the hierarchies and protocols of the Client organisation, particularly when working on site. Ensure all people representing your Company (including associates, consultants & contractors you may be using) adhere to the protocols, working practices and disciplines of your Client - there can be no exceptions to this
cultivate/groom your Client contacts at every level. Account Managers have a double role here ie; managing & developing the Account while 'being one of them' (Client side). Account Managers need to 'go into role' but not make it obvious - you must appear genuine at all times to all people. Initially, this will require much thought, time & effort but it will pay off in the long run when you naturally fall into role at the required time with the minimum of effort, producing invaluable results
ask different Client people to explain their mission statement(s) and strategy(ies) to you. Get them to tell you about major events, progress and personal achievements since they have been working there (good & bad) - understand these fully and refer to them when appropriate, you really will impress!
from the outset of the business relationship, strive for a two-way knowledge transfer, invite the Client contact to briefings if appropriate, hold events on their site and attend briefings & presentations given by the Client wherever possible (for knowledge, relationship building & making a good impression)
return missed telephone calls on the same day - even if there’s nothing new to say
maintain contact if you don't have this on a regular or scheduled basis, particularly if the ball is in your court and you need to get back to them on something but you still don’t have the solution/answer!
if a Client or Prospect contact is soon to transfer to another position or leave their Organisation, will they be interested in your Company's services/propositions in their new role? Can you arrange another meeting now?
click here for another 15 checks & tips

Essential Module Cross Reference (Inputs)

Essential Module Cross Reference (Updates)

CLICK HERE FOR ANOTHER 50 CHECKS & TIPS

BEST PRACTICE QUOTE 6 of 12:

“client contact management is the vehicle for developing key business relationships at every level throughout the client organisation”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Sales Propositions & Opportunities

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management (today)
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth”

Richard Wright

October 15, 2024

Client Relationship Management

Richard Wright

October 15, 2024

October 15, 2024 2 minute read

Richard Wright

Managing Director at ASPIRE Account Management

CLIENT RELATIONSHIP MANAGEMENT

Once you’ve made that initial contact with any Client manager or member of staff at any level, a business relationship needs to be developed.

The amount of time and effort required will gradually become apparent as you find out more and more about the individual, where they sit in the organisation and their value in terms of information and potential future business.

There are a multitude of reasons for engaging with Clients (personal introductions, fact-finding, fulfilling obligations, progress reviews, business & people issues, complaints, sales opportunities & negotiation, contractual, entertainment/hospitality, social, etc., etc.).

Over time you'll develop numerous business/working relationships with Clients who are 'there', you won't be able to pick & choose! Sometimes you'll have to work very hard to develop the relationship with someone who you don't particularly like or don't have a regard for in terms of the value they bring to the job.

Also, if the Client relationship is not good, your colleagues will not be happy and attrition levels will inevitably rise together with falling revenue and profit. However, if the relationship is strong, there is every likelihood that further sales orders will follow.

Therefore, the following process & protocols are considered essential in the development of strong business relationships and should be followed by anyone representing your Company who is engaging at any level in the Client organisation. There can be no exceptions and applies equally to both permanent staff and third parties.

Although Relationship Management is primarily a fundamental process for all Account Managers and senior staff, anyone representing the Supplier who has direct contact with the Client (at any level) must be aware of the content to ensure continuity.

Example checks and tips are given below.

Essential cross references to other key-related modules are also given to ensure watertight coverage of the Client.

Client Contact

strive for multiple Client relationships across the Organisation and at different levels - relationships can be extremely valuable at the lower levels regarding a multitude of fact-finding about the business, staff, Competition, what’s going wrong/right/etc
do the rounds with senior Client people to develop relationships & personal confidences, gain business & political knowledge as well as individual views & social/domestic information, etc. - but do your research beforehand as they may not be happy with the deliverables, service, people or products your Company is providing!
be very careful when talking to the Client about 'working together in partnership' as the word ‘partnership’ means different things to different people and can have legal/contractual consequences. Your Company will therefore need to have an agreed definition if it's going to be used so there is no confusion or manipulation; everyone must know this
ask your Client contacts what they really need/expect of you and your Company? What is their success criteria for how your Company will be judged?
click here for 10 more checks & tips

People

gradually develop sound/good working relationships - your Client contact's PA/Secretary is a good place to start although these people are often pretty sharp and may know your game but that doesn't mean they won't comply. Some will be much easier to 'win over' than others, some will be frosty to begin with - you'll need to persevere and maybe modify your approach, back off for a while. Crossing swords with a boss's PA is something you may never recover from, professional suicide! You may not have even crossed swords with them, they may initially just not like you or you irritate them. So, work on it, talk to people who do get on with them but be discrete/subtle, you may have to bide your time
where are the pubs that Client staff go to? Start to use them! Don't be too obvious in your mission to gain as much information as possible on Client business & staff, their Competitors, your Competitors, current problems/future issues, etc, etc.
strive to make your Client contact(s) look and feel good/special. Let them take the credit for what's been achieved, if that's what they want, even if they don't deserve it - they’ll know that you know that it's down to you/your Company even if they don't acknowledge it. It will ultimately be to your benefit, particularly if and when they become dependent on you!
if you’re managing colleagues strive for loyalty and people going that extra mile, ideally without being asked
click here for 11 more checks & tips

Work

Be proactive and regarded as delivering ‘value added’ (having maximised your 'on-site intelligence'):

share your own Company's best practice
anticipate issues not yet considered/realised by your Client and take appropriate steps as and when appropriate
strive for 'skills transfer' to Client staff & managers
ask yourself why things are being done the way they are; the rationale, the justification - can you think of ways to make things easier, quicker, less stressful, more cost effective for the Client?
click here for 7 more checks & tips

Entertainment

Pre-Covid, entertainment/hospitality was often a key component in developing a strong business relationship with Clients. However, there are some important points to remember if and when we can return to entertaining:

find out what's allowed to be accepted by the Client organisation
take care to select appropriate venues and not go over the top; you're not looking to impress in that way!
prepare an agenda (sometimes 'hidden') and discussion topics beforehand (work, home & family life, interests, hobbies, holidays, etc)
make notes immediately after any form of entertaining (as you would do if you met in the office) - and remember, they may make notes too!
review the event's usefulness/value for money after each occasion
click here for 13 more checks & tips

Issues

ensure you and colleagues learn from mistakes made. Mistakes happen, everyone makes them. They’re allowed but only once! Anticipate problems/issues/etc; put yourself in the other person’s position. There should be no cover-ups - you need to know about all mistakes - talk them through with colleagues behind closed doors so that people learn never to repeat them. The golden rule is that no matter what has happened and/or regardless of the potential repercussions, you must never lie. Always put your ‘hands up’ and rely on the other person's compassion - just admit or volunteer whatever the problem/issue is, do whatever you can to minimise the impact of the situation and give assurances that it will never happen again
never forget that mistakes and criticisms are often opportunities to score points as you address them/put them right, and can ultimately improve your Client relationship - in either case, both are inevitable so accept that they happen, take them in your stride and then decide how to respond (and always with urgency). If you don’t have a quick solution, maintain contact on a regular basis and keep the Client informed of progress, or even lack of it! - and don’t take things personally or look to blame others
there are always some Client contacts out there who are incompetent, arrogant, rude, insecure, etc. and you will undoubtedly experience some if not all of these traits - but hopefully not all in the same individual! You really have to be disciplined and not show your feelings or contempt for such people, no matter how unfair this seems, particularly after you’ve done so much to help them. However, if you've screwed up you must still apologise and be seen as genuine by the ‘injured party’. You must also do everything you can to make amends for any shortcomings
look for hidden agendas and the games people play; some are very clever/subtle, sometimes you'd never realise what they were up to unless you were on the lookout or really thought things through
click here for 11 more checks & tips

Essential Module Cross Reference (inputs to Relationship Management)

Essential Module Cross Reference (actions)

CLICK HERE FOR 50 MORE CHECKS & TIPS

BEST PRACTICE QUOTE 5 of 12:

“once you’ve mastered the art of relationship management you’ll achieve outstanding results”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Contact Management

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management (today)
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

October 8, 2024

The Account Manager

Richard Wright

October 8, 2024

October 8, 2024 1 minute read

Richard Wright

Managing Director at ASPIRE Account Management

The Account Manager

If you haven’t selected the right individual(s) and fully empowered them, you’ll be the first port of call when it comes to playing the ‘poor performance blame game’.

Because Account Managers are the face of your Company when it comes to dealing with Clients and third parties, they must be very visible at the Client site and regarded as an ally by everyone (Client, third parties & anyone representing their own Company).

As well as being key players for both their own Company and the Client, Account Managers must also be a supporter & promoter of the Client when discussions take place within their own organisation.

For Account Managers themselves, it’s imperative that they understand the Client's culture and are seen to ‘merge’. It’s crucial to demonstrate this understanding as early as possible and at every level of Client contact; Account Managers must engage with the culture and ‘speak the speak' as and when appropriate. As soon as this begins, the Account Manager's standing in the Client environment will significantly increase.

Before Covid-19 it was essential for Account Managers to socialise with the Client, third parties and everyone who represented their own Company. Socialising was frequently the source of very useful information which couldn’t otherwise be obtained and provided invaluable background to unexplained situations encountered in the workplace. Let’s hope this option returns in the not too distant future.

Although Account Managers may not be dedicated or even have that title, the Account Management process must still be followed.

Some of the example checks and tips below relate to Account Managers operating in large Supplier organisations. Account Managers who represent small and medium sized Supplier businesses will need to cut down the subsets as appropriate. The checks and tips are directed to the Account Managers themselves.

Responsibilities

thorough understanding of all contractual terms & conditions, service level agreements, KPIs, etc.
broad appreciation of the Client's business, financial performance, market & Competitors
comprehensive knowledge of your Company's sales propositions, products, capabilities and financial performance
ensure all risk management practices & procedures are continually adhered to by everyone concerned
ensure your Company's senior management meet the right level of Client management at the appropriate frequency
regularly test colleagues' knowledge (all those who have Client contact) of current contracts & commitments, sales propositions & products and Client business operation, performance & culture
initiate Client Satisfaction Surveys & create Improvement Action Plans

Priorities & Practice

Outset

approach every new Client as if it's going to be a long-term business relationship even if the initial contract is short term or small.
strive to maintain a high profile and encourage an atmosphere of openness. Act as a facilitator/enabler wherever possible and let Client contact(s) know who else you are seeing in the organisation.

Knowledge

identify mission statements, strategies, goals & targets of both the Client and your own organisation - know these off by heart. It will be so impressive to draw on these when talking to the Client or your own boss.
find out key dates/events in the Client company's calendar - staff meetings, business updates, sales conference, dress down days, Christmas lunch/party, etc.

Reputation

you’ll enhance your reputation by getting across your understanding of your Client’s market, business, problems, challenges, culture, etc. (look for opportunities to do this).

People

influence the selection of the most appropriate individuals to work for your Client. In addition to a good skill/technical fit, individuals must also fit with the Client's culture. If you have any doubts about an individual fitting-in then they probably won't, so don't use them - they'll be enough risks to deal with as it is!

Practice

for presentations, tricky meetings and difficult discussions you must rehearse, rehearse, rehearse. Always have your Company's presentation to hand and be ready to give it at short notice.
ensure there is quality in all that is done but not necessarily 'top' quality as the Client may feel they’re paying for something which isn't necessary/required.
as you increase your knowledge of your Client’s business be proactive in making suggestions for improvements. How can you make things easier for your Client contact(s), improve efficiency, etc.? Depending on your Company’s involvement (there might not be any yet), you may not charge for this but don’t be afraid to ask for payment if it’s justified and you don’t really benefit (directly/indirectly) by giving a 'freebie'.

Dangers & Pitfalls

Account Managers must be fully empowered to take responsibility for their crucially important role.

although there will be times when certain Client individuals seem not to like you or are difficult for good reason or not (they may just resent your Company being there), it's vital that you treat them exactly the same as others who you do get on with. Never behave or act any differently. Not only will some of your dissenters eventually come around, some may even confide in you, ask your opinion, etc. - and you could then become privy to key information. Some of these people may eventually respect you and become totally trusting.
any problems/issues must be nipped in the bud, remove problem people who represent your Company and initiate plans to deal with any problem Client staff/managers as appropriate.

You may even choose to perform SWOT analyses on difficult people.

Click here for Attributes, Manner, Dress & Personal Care

The importance of the attributes, role, responsibilities and practice of Account Managers cannot be over-emphasised; your business health will always be dependent on these individuals. Appointing an Account Manager will be one of the most important decisions ever made by a Supplier. If the person doesn't fit the bill, or isn’t fully empowered, it could cost their Company millions of pounds.

Click here for another 100+ tips.

Best Practice Quote 4 of 12:

“the account manager is pivotal to success or failure - their appointment is the most important decision”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Relationship Management

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager (today)
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

October 1, 2024

Supplier Values, Ethos & Image

Richard Wright

October 1, 2024

October 1,, 2024 1 minute read

Richard Wright

Managing Director at ASPIRE Account Management

Supplier Values, Ethos & Image

Does everyone agree that it’s crucially important for Clients to understand that your own Company has an impressive set of values and an ethos to be admired which distinguishes it from the Competition?

Of course you do!

Indeed, many businesses will already have these attributes which are well documented and used in the sales process.

However, although some companies will have such values and ethos, they aren’t documented or possibly not even thought about or realised.

Or they just don't exist in any form! In which case this subject needs to be given swift and careful thought, and debated/workshopped/brainstormed by key members of your organisation.

So, a clearly defined set of values needs to be established and conveyed to all colleagues & Clients. They will also need to be incorporated into the sales process. In time, these values will become part of the fabric of your Company, part of its culture.

However, such values must be meaningful and genuine. You can't just make them up!

Nevertheless, it can’t be overstated just how important it is for your Clients to be aware of your values & ethos which will be the foundation for all that you do for them.

These are some examples of what you might consider:

individual mentorship scheme for all new joiners or change of role
promotion from within wherever possible
demonstrate pride in all that is done
prompt payment of Suppliers unless good reason not to
always convey bad news at the earliest opportunity
proactively strive for continuous improvement
respect for the Client's culture, values & practices
strive for a track record of delivering real business benefit
strive to make Client organisations & individual contacts (more) successful
identify areas where any form of value added (freebies) can be provided without difficulty
rigorous qualification of sales opportunities throughout the sales process
strive for every Client to become a reference site

Some of the above 'values' will be integral to your own Company which help distinguish it from the Competition. They will also provide the foundation for high quality deliverables, services, people & products which in turn will make your Clients more successful.

As a consequence, never feel awkward about what you charge or profits made providing, of course, you have supplied the required level of quality ‘deliverable’ on time and within budget; particularly if you’ve also provided 'added value' where the Client was not charged for something beneficial which was over and above what was contracted for.

People (your Company's biggest asset), consistent quality output (pre-requisite for repeat business) and openness (earning colleague & Client trust) will always be the critical success factors regarding future progress in Client Account Management.

The term 'people' is used in the broadest sense when referring to your own Company and means anyone who is working for, or representing, your organisation including consultants, contractors, temporary staff, external partners, associates and so on.

So, it’s vital that wherever your resources come from it remains seamless to your Clients. Indeed, any differences in work practice, values, dress or attitude may seriously jeopardise the Client relationship and damage your profit margin & future business.

Therefore, it is imperative that all 3rd parties are made fully aware of the above before they are taken on. In addition, there must be adequate and consistent induction (which includes values & ethos) for anyone representing your Company on the Client site; permanent staff are no exception.

Click here for another 40+ tips.

Best Practice Quote 3 of 12:

“your company’s values, ethos & image will be the foundation for business excellence”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: The Account Manager

Account Management - the full set of Blogs:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image (today)
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

September 24, 2024

Understanding Your Clients (& Vice Versa!)

Richard Wright

September 24, 2024

September 24, 2024 2 minute read

Richard Wright

Managing Director at ASPIRE Account Management

Without a satisfied client you're doomed …………. unless there’s an opportunity to turn the situation around if there have been some client management changes or you’re the newly appointed account manager.

Client managers & staff are just like you and me. They have good days & bad days! They have pressures inside & outside work. Some are in the wrong job. Some are just not up to it. Some are on the way up, others on the way down. Then there are those that are just plain difficult, who've got attitude - probably the worst of the lot because many are more than capable but just make things very uncomfortable for you and others.

However, no matter what these people are like, you have to work with them. You have to get onto their level and develop a sound business relationship regardless of how difficult it may be.

Before starting work for any client, time must be made for everyone to be fully inducted and will include client history, relationship, culture, protocols, dress code, hours of work, lunch/coffee times, security (site, themselves, their work), organisation charts, contact details, difficult/problem people, do's & don'ts, etc., etc.

Here are some example critical success factors which should help smooth the ride:

the client's culture will always be sacrosanct whether you find it agreeable or not; you need to understand, accept and comply with it
integration with client staff, unity & teamwork
increased productivity of client staff/managers
one focal point (account manager)
skills & knowledge transfer to client staff/managers
early warning of issues/bad news
strive to be regarded as fair & reasonable, reliable and value for money
demonstrate innovation with practical, appropriate and effective solutions
show commitment & pride throughout
never underestimate an individual (although they may be inadequate they will always know others who aren't, some of whom may have influence)
strive for client managers to look good (let them take the credit even though it's been down to you; they'll know that even if they don't acknowledge it, and it will make you less dispensable)
never knock the competition; your client contact may have a relative or friend working there or they may have worked there themselves and have positive memories
cultures are not usually written down (& individual views on what it is may vary). Great care must be taken regarding the culture & practice of sub groups within the client organisation as these may not be consistent with the client's overall culture & practice. Indeed, there may even be significant conflict so beware
certain individuals at every level will be seen as 'company people', people who understand and adopt the core values, ethos, etc. Others either don't understand the culture or do understand but don't want to conform or openly resist - this is regarded as career suicide by anyone who has accepted/adapted to the company culture and is committed to that way forward
over time you will identify 1 or 2 client 'culture role models' but take care to 'reassess their game' every so often as they may fall out of favour

In order for suppliers and clients to develop compatible business relationships, it’s absolutely vital that the client’s culture & psyche, and the supplier’s values & ethos, are understood and accepted by both parties. If contractual obligations are also being fulfilled, the chances of synergy and harmony will significantly improve.

Click here for another 40 tips..

Best Practice Quote 2 of 12:

“A stubborn resilience, determination & professionalism will eventually win through when confronted with unpredictable client behaviour”

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

NEXT POST: Supplier Values, Ethos & Image

Account Management - the full set of Blogs:

Introduction to Account Management
Understanding Your Clients (today)
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

20+ components of Client Account Management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

September 17, 2024

What is Account Management?

Richard Wright

September 17, 2024

Richard Wright

Managing Director at ASPIRE Account Management

WHAT IS ACCOUNT MANAGEMENT?

As the new business world continues to take shape after Covid we speculate different scenarios as to what might eventually be. However, we already know that the pool of Clients and Prospects is smaller and that winning new business is much harder and more competitive.

Hence the need to work with greater productivity, delivering on time to the required level of quality with consistency across all Clients and performing risk management activities (module 10) throughout. Failure to do so will be disastrous, resulting in Clients lost to the competition; Clients who have much greater 'value' post Covid.

However, although the new business environment continues to evolve, the basic principles & processes of business best practice will remain, being even more important than before.

So, the first priority will clearly be for suppliers to retain existing clients and prospects even if they’ve been a pain to deal with in the past, damaged your profit margin or put you under unreasonable pressure - conversely, they may now be very pleased to hear from you, maybe they used to take the credit for your efforts and now feel vulnerable.

Also, as Client organisations have become more and more knowledgeable about how and what their Suppliers are delivering to them, the importance of the relationship between the two parties has become crucial in modern business. Strong and healthy business relationships and maximising financial performance & growth invariably result from adopting Account Management & Development best practice.

In order for suppliers and clients to develop compatible business relationships, it’s absolutely vital that the client’s culture & psyche, and the supplier’s values & ethos, are understood and accepted by both parties.

In addition, the need for consistency across all Clients and Prospects is particularly important regarding continuity of working practices when there are changes in personnel (especially if there is a change in Account Manager).

So, what is Client Account Management really?

I think it best to have two levels of definition for each of the 3 long-term mission objectives:

LEVEL 1

to retain, expand & manage Client business in a controlled & measured way in order to maximise revenue & profit growth.
to develop & maintain business relationships at all levels of the Client organisation based on co-operation, trust and personal integrity.
to proactively demonstrate a commitment to continuous improvement in all areas of Account Management.

LEVEL 2

to ensure every output is delivered on time & to the required level of quality and that Client satisfaction remains paramount at all times.
to develop & maintain teamwork where both sets of people (Supplier & Client) work together with openness, commitment & pride.
to ensure standard working practices & procedures are followed wherever possible and that all areas of performance are regularly reviewed and improvements made as appropriate.

The heart of your Account Management & Development process will be the Account File. This File accommodates all the information associated with your Company's activities for a particular Account in addition to comprehensive information regarding the Client. A summary of Account File components makes the scope easier to understand:

Mission Statement
Account Manager
Account Background & History
Client Overview
Client Profile (inc market, business, structure/organisation, people, procurement, suppliers & their own Competition)
Current Position, Scope & Objectives
Account Blueprint (inc strategy, goals/targets, the Competition & SWOT analysis)
Delivery Performance (inc financials, balanced scorecard & issues)
Sales & Marketing (inc orders won & lost, current opportunities, qualification, propositions & pricing)
Account Progress Reviews with the Client (of the Account, not deliverables)
Satisfaction Surveys
Reference Site visits
Risk Management
Contracts, Service Level Agreements, etc

Critical Success Factors

nothing is more important than the Client relationship and understanding their culture
teamwork, commitment & pride are the keys to Client satisfaction
the Account Manager is pivotal to success or failure; their appointment is the most important decision
your Company's values, ethos and image will be the foundation for business excellence
the Balanced Scorecard is the only tool which enables you to establish exactly where you are and what needs to change in order to stay on course
Client Contact Management is the vehicle for developing key business relationships at every level throughout the Client organisation
anyone engaging with the Client must be absolutely clear on what is expected of them regarding knowledge, professionalism and output
inadequate qualification of sales opportunities can have disastrous financial consequences and a very damaging effect on morale

Best Practice Quote 1 of 12: “as nothing is more important than the client relationship, everyone must understand, accept & comply with the client’s culture at all times”

To explore the key components of Client Account Management, I’m writing a series of blogs which I hope will be of value and appropriate for the type & size of your client, prospect and target organisations:

What is Account Management? (today)
Understanding Your Clients
Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

NEXT POST: Understanding Your Clients (& vice versa!)

20+ components of Client Account Management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth”

Richard Wright

September 10, 2024

Risk Management

Richard Wright

September 10, 2024

September 10, 2024 2 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

RISK MANAGEMENT

“THE PROCESS WHICH ENABLES YOU TO IDENTIFY, ASSESS, CLASSIFY, ACTION, MONITOR AND EITHER AVOID, REDUCE, SHARE OR ACCEPT (AT ITS CURRENT LEVEL) ANY IDENTIFIED RISK”

So, there are always choices:

Avoid the risk by eliminating the probability or by not undertaking the activity in the first place
Reduce the probability and/or severity of the risk or extend the timescale of the specific activity
Share the risk with a third party by either transferring it (outsourcing) or taking out insurance cover
Accept the risk at its current level of probability & severity, accept the potential consequences and budget accordingly, together with contingency planning

The following definitions need to be understood before looking at Risk Management in more detail:

Qualitative Risk Analysis (subjective/manually classified)

prioritises and scores individual risks regarding probability and severity of impact

Quantitative Risk Analysis (objective/automated numerical analysis)

significant risks can be further analysed to identify potential outcomes at the overall Client Account, sales & marketing or individual contract levels. However, this type of analysis is considerably more complex & time consuming compared to Qualitative Risk Analysis and often requires specialised software

Residual Risk

the extent of risk remaining after mitigating action has been taken and controls put in place

Risk Tolerance

levels of risk which are acceptable to live with

All things considered, Qualitative Risk Analysis is the most practical form of Risk Management for Client Account Management & Development.

So, as a degree of risk exists in everything we do, your Company will need to decide what are acceptable levels of risk to live with otherwise you’ll be pre-occupied with risk management to such an extent that time, resource and/or cost cannot possibly justify.

It is also important to remember that some risks can have a positive outcome (where there is a chance to benefit) while others have a negative outcome (where there is a chance to damage).

There are also two categories of risk:

Recurring/Preventative - predefined risks (which are maintained in a Preventative Risk Register [PRR]) are searched for each time there is a new Client Account, sales & marketing activity or individual contract.

New/Reactive - new risks which occur unexpectedly and are added to the PRR as part of the commitment to continuous improvement.

Some risks will never be eradicated. Indeed, many will not need to be, or eradication cannot be justified. They'll just need to be managed/contained, or there may be some risks which are completely outside your control that you need to keep a very careful eye on throughout.

There will always be risk so please just accept it!

Some example checks and tips are given below:

1. OVERALL CLIENT ACCOUNT

·each individual risk and sub risk will need an estimate of the likelihood of it occurring together with establishing the severity of impact.
to do this there will need to be a rigorous assessment of the different potential outcomes and options on the best way forward in terms of the extent of time, resource and cost which would be justified in eradicating, reducing, sharing or just maintaining a particular risk at its current level.
as the Account Manager works through all risks and sub risks, each will be classified: green = low risk, amber = medium, red = high
reducing just one of the two main aspects of risk (likelihood or severity of impact) may be enough to bring the risk to an acceptable level (residual risk/risk tolerance).
click here for another 15+ checks & tips

Supplier Aspects:

financial performance & forecasts
client complaints
conflicts with mission statement, strategy, goals & targets
exit plan
click here for another 25+ checks & tips

Client Aspects:

client culture (& conflicts with own Company)
business performance/stability
management effectiveness
change management/control
click here for another 10+ checks & tips

Supplementary:

the 'threats & weaknesses' identified in the most recent SWOT Analysis will be a key input to the Risk Management process.
the Account Manager’s regular reporting on various people-related aspects will also keep anyone responsible for people management on their toes.
the Account Manager will also need to create and maintain a Risk Management Plan (RMP). This will be managed in terms of elimination, reduction, sharing or maintaining risks as previously described. Subsequent reviews of the effectiveness of the RMP are likely to identify beneficial improvements in process/procedure which will be part of your Company's commitment to continuous improvement.
overall performance and suitability of the Account Manager will be assessed by their own Manager 'off-line'.
whenever there is more than one risk for a particular activity/topic, the highest risk 'colour' must be used.

Also, as significant issues often occur within the Supplier's own organisation and are invariably overlooked, the following areas also warrant close attention:

is the Account Manager fully empowered or does he/she rely on the goodwill of others?
is there internal pressure to win Sales Orders in the short term when the Account development strategy is clearly based on the medium to longer term (presumably for very good reason!)?
are all current Sales bids &/or Proposition initiatives genuinely in the best interest of both the Client & Supplier?

2. SALES & MARKETING (S&M)

S&M activity can take place both inside and outside the Account Management process depending on who initiates it and whether or not it qualifies as Central Sales Team work (Major Bids, Sales Proposals, etc.). However, as many Suppliers do not have Central Sales Teams, all S&M activity will be part of Account Management.
risk identification and assessment need to begin at the very start of any S&M activity, reviewed on a regular basis and then a new cycle of risk management introduced if and when a Sales Order is won.
a 'green', 'amber' or 'red' alert for each S&M activity must be fed through to the Account Manager at the prescribed frequency.
this is not negotiable as it is critical for the Account Management process to work effectively and must be incorporated into the personal objectives of the person responsible for managing the specific activity.
again, where there’s more than one risk for a particular activity/topic, the highest risk 'colour' must be submitted to the Account Manager.
each Sales Proposition, Opportunity and Order won will carry its own individual risks which will in turn increase the overall risk to maintaining the Client Account up to the levels specified in the Targets, Goals, Strategy & Mission Statement - click here
if there are existing contracts in place, great care should be taken to ensure contractual consistency wherever possible regarding all terms and conditions but particularly key performance indicators, penalties, payment terms and warranties.
the evaluation of risks is very closely aligned with Sales Opportunity Qualification which should always be referred to when assessing S&M risks.
click here for complete list of all checks & tips.

3. WORK, SERVICE, PEOPLE & PRODUCT CONTRACTS

as above as appropriate
each contract will have its own Risk Management Plan and be maintained by the person responsible for managing the contract.
as with S&M activities, the person responsible for managing a contract must provide coloured risk alerts to the Account Manager at the prescribed frequency.
again, this is not negotiable and must be incorporated into the individual's personal objectives at the time the Sales Order is won as it’s imperative that the Account Manager is made aware of anything that could compromise the Client Account as a whole.

Some example areas to assess are:

timescales & deadlines
interfaces & third parties
people resourcing
teamwork

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 12 OF 12:

“although often generating significant extra revenue, change is the biggest risk of all and can destroy timescales, jeopardise working relationships & eat profits”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Introduction to Account Management

Account Management Blogs - the full set:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management (‘today’)

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

September 3, 2024

Client Satisfaction Surveys

Richard Wright

September 3, 2024

3 September, 2024 2 minute read

Richard Wright

Managing Director at ASPIRE Account Management

CLIENT SATISFACTION SURVEYS

Client Satisfaction Surveys are a crucial component when evaluating performance. They require significant thought and preparation, sometimes by specialist third parties. Ideally, you will survey the same areas at least once a year so that you can monitor trends as well as receiving a snapshot of Client satisfaction, although it may take a few attempts to refine survey content.

However, there is a great potential danger in surveys being too long and putting recipients off or people leaving it until they have more time and then never getting round to it!

So, you really need to focus on those aspects which will enable you to measure satisfaction against your key criteria for Client Account Management. When looking at the Definition & Scope of Account Management, there are some key areas which are ideal for receiving Client feedback on and which will be particularly relevant to your Company in the pursuit of continuous improvement. They are:

Business Relationship: co-operation, trust, personal integrity

Deliverables/Outputs/Services/People/Products: appropriate & practical, on time, required level of quality

Teamwork:: working together, commitment, pride

In addition, other key areas may include: performance of the Account Manager, whether the Client culture is understood & respected, whether your own Company's values & ethos are compatible with the Client.

An early decision is required to determine whether there will be one survey for everyone, divided into different parts to accommodate different levels/responsibilities of Client personnel, or separate surveys.

The issue with the one-survey-fits-all is that it will be a lengthy document and, although individuals will only be completing specific parts, it will be off-putting for some people which will adversely affect the percentage of your survey returns. Conversely, Client staff at a particular level may want to know what is being asked of others at different levels - it's a difficult one.

It may help to think of your Client as having three basic levels of people - Users, Managers & Board. While each level will have some very different criteria for evaluating your Company's performance and the working relationship, they will also have areas of common interest which overlap. That's why such very careful thought and consideration need to go into the preparation of Client surveys - Client staff & senior people must feel they are being asked the right questions while your Company seeks to receive as many responses as possible (which will be invaluable in performance monitoring & trend analysis as you strive for continuous improvement).

Also, some recipients of a survey will be Users who have not had direct contact with any of your Company's representatives. Conversely, other recipients will have had frequent contact & developed close business relationships or been involved in difficult situations where the relationship has been strained or volatile.

Some Client contacts will also have very different responsibilities and had different types of exposure to your Company (eg. Purchasing, Legal, HR/Personnel, etc.).

If you have a difficult or sensitive relationship with the Client or you think intended participants may be reluctant to take part, would it be better to use an independent organisation to administer the survey and process results? You're likely to get a higher percentage of survey returns if you do.

So yes, it's probably best to have different survey 'documents' tailored to specific recipient levels/responsibilities ......... but explain what you're asking other recipients in the same area of the organisation in your explanatory notes.

Finally, the most senior person known in the Client organisation must always be surveyed as well.

A sample of checks, tips and questions is given below:

Areas Of Interest

Feedback on your Company’s performance, knowledge and standing may be sought in the following areas:

Users

· practical/workable solutions

· working relationships/teamwork

· responsiveness

· quality (process, deliverables, services, people, products)

· integrity, reliability

Managers

· as for Users plus:

· understand Client's business overall & position in the market

· understand Client's business needs & issues in specific area(s)

· understand Client's culture, protocols & working practices

· proactive, initiative

· value added

· value for money

· skills capability & service/product knowledge

· reputation/standing in your Company's marketplace

Board

· image

· understand Client's culture

· business relationship

· benefits achieved

· value for money

Satisfaction Surveys can also be used to obtain key information on the Client's future needs, appetite for selected sales propositions and where your Company stands compared to the Competition (survey questions being tailored according to what information has already been gleaned about the Client).

Click here for 80+ survey questions & tips

Results

As soon as the deadline for responses has been reached, the analysis must begin. You'll need to provide feedback to the Client, everyone working for your Client (including any third parties used) and anyone else who needs to know within your own organisation as soon as possible. However, Survey results may be presented in different ways/formats to different groups/individuals.

In addition to providing a snapshot of how your own Company is regarded by the Client, Surveys will enable you to monitor trends. This is so important, particularly if the Survey results are not good but show an improving trend which then allows you to put a positive spin on things overall!

You will also need to compile an Improvements Action Plan which will not only focus on areas such as the business relationship, deliverables/output and teamwork but also making the Client aware of your Company’s services, people skills & product capability where a 'non-awareness' was registered.

If the Survey results are (very) positive, ask if the Client can act as a Reference Site if not already doing so.

BEST PRACTICE QUOTE 11 OF 12

"Client feedback is a crucial external component when evaluating performance"

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Risk Management

Account Management Blogs - the full set:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys (‘today’)
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

August 27, 2024

Account Performance Reviews

Richard Wright

August 27, 2024

August 27, 2024 1 minute read

Richard Wright

Managing Director at ASPIRE Account Management

ACCOUNT PERFORMANCE REVIEWS

You’ll never achieve your business goals & targets without regular pragmatic reviews of your Account Management performance.

Therefore, in addition to any contractual commitments and aspirations for the Account, the frequency of internal Client Account Performance Reviews will depend on the size, complexity and potential of each Client.

It’s also very important that the right people are present to contribute on specific areas and take responsibility for all related action points. Again, these will vary according to Account size, complexity and potential but will always include the Account Manager and their line manager.

Sample checks and tips are given below:

AGENDA

Previous Minutes
Previous Action Plan
Mission Statement, Strategy & Goals
Business Performance/Market Position (both organisations)
Organisational & people changes (both organisations)
Current Work, Service, People &/or Product Contracts (incl. debtors)
Balanced Scorecard
Sales (orders won & lost, new opportunities qualification, other current opportunities & propositions)
Competitors
SWOT Analysis
Contact/Relationship Management
Missing Information (Account File)
Satisfaction Survey
Issues & Complaints (both organisations) - incl. cultural, management, people, budgets/estimates/forecasts, timescales, quality & contractual)
Hospitality/Entertainment
Account Manager Responsibilities/Performance
Critical Success Factors
Risk Management
Options & Forward Action Plan
Close (Any Other Business, date/time of next Review)

MAIN INPUTS

Account Snapshot Summary
Account File Details (incl. Client information held, meeting minutes, correspondence, contracts)

Balanced Scorecard
SWOT Analysis
Client Organisation Charts
Contact Management Plan
Client Progress Review Minutes
Satisfaction Survey
Sales Opportunities/Action Plan
Sales Propositions/Action Plan
Marketing Plan
Hospitality/Entertainment Plan
Account Manager Performance
Risk Management Analyses

QUESTIONS TO ASK under 8 headings:

Admin
Risk Management
Client
Client Contact/Relationship
Issues
Delivery/Performance
Sales
Competitors

AFTER THE REVIEW

In addition to updating the Account File, various other areas may require careful thought, consideration and rework including SWOT Analysis, Balanced Scorecard, Personal Performance & Objectives, Risk Management and Account Action Planning.

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 10 OF 12

"without regular pragmatic reviews of Account Performance you cannot achieve your goals and targets"

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Satisfaction Surveys

Account Management Blogs - the full set:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews (‘today’)
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

August 20, 2024

Balanced Scorecard

Richard Wright

August 20, 2024

August 20, 2024 2 minute read

Richard Wright

Managing Director at ASPIRE Account Management

BALANCED SCORECARD

The Balanced Scorecard is a performance management tool which will enable you to assess how well the Account Management process is working. It provides for the 'measurement' of several key areas, most of which are not financial.

This is particularly important as Company Boards invariably make decisions based on financial information. However, the Balanced Scorecard enables some very significant areas to be monitored which are outside the remit of Boards.

Conversely, it also provides for the measurement of areas which do fall under Board/Senior Management control and therefore enables you to be 'on top of your game' at all times; which is good for your Client, your Company, your colleagues and you personally!

This article explains what the Balanced Scorecard is as well providing a simplified example of how it can be used (which can be implemented in any small business enterprise).

There are 5 Categories to monitor, score and act upon:

Management
Financial
People
Client
Sales

Each Category has a number of Key Performance Indicators (KPIs) which, for initial ease of use, are marked either '1' for 'Yes' or '0' for 'No'. The overall Category score can then be expressed as a %. Then, the overall/combined % score can be determined for all Categories.

However, you may wish to develop a more sophisticated method of scoring once you have become familiar with this key area of Account Management and make any required modifications in the light of your experience. In its current form, some of the answers will inevitably be subjective.

It should be noted that every Level 1 KPI is a crucial indicator and must be regarded as mandatory.

Balanced Scorecards for individual Client Accounts should be reviewed and updated on a monthly basis.

A sample of KPI questions is given below.

Essential cross references to other key-related areas of Account Management are also given to ensure watertight coverage of the Client.

LEVEL 1 - Mandatory

All 20 Level 1 KPIs are considered crucial for effective Account Management to be achieved.

A. Management

Delays & Overruns managed to Client’s satisfaction?
Account Manager’s performance & qualities reviewed?

Each KPI: 1 for YES, 0 for NO

Total KPI Score must be 8 out of 8 otherwise Category/Account requires immediate attention. Each 'NO' requires the Account Manager to provide an explanatory paragraph with details of the next action, who & when.

B. Financial

Profit margin (%) increasing?
No debts older than 60 days?

Total KPI Score must be 4 out of 4 otherwise see Category A for actions

C. People

All colleagues' personal objectives geared to the Golden Rules?
Sickness less than 5%?

Total KPI Score must be 3 out of 3 otherwise see Category A for actions

D. Client

Issues/complaints resolved satisfactorily?
Relationship good?

Total KPI Score must be 2 out of 2 otherwise see Category A for actions

E. Sales

Sales opportunity pipeline rigorously qualified & improving?
Lost orders reviewed?

Total KPI Score must be 3 out 3 otherwise see Category A for actions

Click here for 10 more KPIs

LEVEL 2 - Highly Recommended

All 15 Level 2 KPIs are considered highly desirable but not crucial. If monitored, there is no doubt that your Client, Company, colleagues and you (the Account Manager?) will benefit significantly.

AA. Management

Value Added provided (freebies, technology updates, talks/presentations/seminars/training/etc)

BB. Financial

Next Month’s Revenue forecast higher than last month’s ‘actual’ Revenue?

CC. People

Each colleague working on Client Account scores 'positive' for team spirit/morale/teamwork, extra miles, Client knowledge, Supplier knowledge?

DD. Client

Client Satisfaction Survey in last 12 months?

EE. Sales

Value of new business/orders year-to-date greater than same time last year?

Click here for 10 more KPIs

The initial scoring of 1 for YES or 0 for NO for each KPI (as done for Level 1) will quickly reveal whether further action is required in any of these 15 additional key areas of Account Management. Overall absolute and percentage scores can then be calculated for submission to senior management if required.

Over time, graphs should be used to monitor performance trends.

Essential Module Cross Reference

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 9 OF 12

“the balanced scorecard is the only tool which enables you to establish exactly where you are and what needs to change in order to stay on course”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Account Performance Reviews

Account Management Blogs - the full set:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard (‘today’)
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

August 13, 2024

Sales Opportunity Qualification

Richard Wright

August 13, 2024

August 13, 2024 1 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

SALES OPPORTUNITY QUALIFICATION

Extensive amounts of time and money are frequently wasted in the pursuit of sales opportunities which either don't result in an order or, where an order is taken, there is either a very low profit margin or an actual overall loss. Also, in many ‘lost order’ cases, the bidder had little or no chance of winning the order in the first place.

Such financial losses and disappointments can so often be avoided by performing rigorous qualification to determine the chances of actually winning the order and also minimise the delivery risks should an order be taken to undertake work or to provide a service, people or product.

So, a thorough qualification exercise needs to take place at both the outset of the sales process and then on an ongoing basis if it’s decided to go ahead and bid. Because such a wide range of questions need to be asked, these are divided into ten separate groups. To make these easier to remember, the first letter of each group name is used to create the acronym COSMONAUTS.

As it’s virtually impossible to remember all the questions off by heart, ‘COSMONAUTS’ should at least help you to remember the ten groups, which will then hopefully trigger some of the key questions. This is so important as qualification doesn't conveniently happen all in one go. It can be spread over several days or weeks, even months, and sometimes in an informal exchange with the Client when you haven't had the opportunity to prepare.

Please note that the word 'contract' is used to represent all types of sales opportunity/order (individual assignment, project, service, people placement, product, etc). Also, the word 'Client' is used generically to represent both Clients and Prospects.

You’ll see that not all the questions are for the Client directly. Some of the required information will already be held in the Account File &/or known by the Account Manager and some by people who have worked, or are currently working, for the Client in question. Other information may be obtained from the Client's website, PR office, Annual Report & Accounts, etc.

You can also score the answers in each group and apply weightings according to your Company's view on importance, risk, etc. In any event, you should stop all further sales activity if you become concerned with the qualification outcomes to such an extent that they cannot be resolved to your satisfaction and therefore minimise the amount of time & money spent on an inappropriate sales opportunity.

Some example qualification questions are given below:

Competition - are they currently working for the Client, or done so previously?

Opportunity - would the contract provide important new Client contacts/business knowledge?

Solution - what are the strengths & weaknesses of your solution?

Money - are your cost estimates within the Client’s budget?

Objective - what is your Company's reason for pursuing this contract (strategic, tactical, financial, idle resources, etc)?

Need - what are the consequences of the Client not going ahead with the contract

Authority - who are the influencers & decision makers; do you have access to them?

Unique - are any of your USPs in the Client's decision-making criteria?

Timescale - can you realistically complete all the sales bid activities, in addition to what is to be delivered contractually, in the required timescales

Size - is the contract too big for your Company?

Click here for another 60+ qualification questions

Please also remember that qualification should continue throughout the sales process as circumstances & knowledge will be constantly changing on both 'sides'.

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 8 OF 12

“inadequate qualification of sales opportunities will have potentially disastrous financial consequences & a very damaging effect on morale”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Balanced Scorecard

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification (today)
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

August 6, 2024

Sales Propositions & Opportunities

Richard Wright

August 6, 2024

August 6, 2024 2 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

SALES PROPOSITIONS & OPPORTUNITIES

Where a Company’s organisation structure accommodates a formal sales team, sales and marketing activities will take place both inside & outside the Account Management (AM) process.

So, if there is no formal sales team, procedures relating to major bids, sales proposals, negotiation, etc. will need to be incorporated into the AM process. Where there is a formal sales team, their progress and risk management results will be fed through to the Account Manager on an agreed frequency.

However, as your Client Account will not survive without new business, everyone who represents your Company must be constantly on the lookout for opportunities to secure further work, no matter how small. Their 'sales-related antenna' should always be up, seeking opportunities to:

win work informally
be invited to bid for assignments, projects, services, people placements &/or products.
improve reputations and your Company's standing at any level in the Client organisation
enhance their own Client knowledge by attending presentations, briefings, meetings, social events, etc.

Also, you need to 'think outside of the box'. Ask yourself, ‘is there an opportunity here ?' (for you, others or your Company). Opportunities are often disguised, camouflaged by the hubbub of the Client's day-to day business activity. It will help to put yourself in the position of the Client and think on their behalf, look at things from their perspective.

Ask yourself why things are being done the way they are, what's the rationale, the justification - can you think of ways to make things easier, quicker, less stressful? (this will be 'adding value' which is particularly important when you are compared against the Competition).

Always be looking for a new revenue stream - stand back, think it through, what are the options/alternatives, apply some lateral thinking.

Also, when an ‘opportunity’ seems very difficult to deliver initially, be careful not to decline until a brainstorming session has been conducted.

Finally, never ignore or delay in responding to a Client request and remember that if you delegate you must ensure that you chase it up quickly (from the Client's perspective, you’re the person running with it, it’s your credibility that's on the line).

Some example checks, tips & questions are given below.

Essential cross references to other key-related AM areas are also given to ensure watertight coverage of the Client.

PROPOSITIONS

Whenever proactively seeking any new business with a Client or Prospect, the following questions should be asked:

does your Company have any propositions which specifically relate to a current need and/or problem already identified?
each product/offering/proposition will need to be ‘wrapped’/‘packaged’ in such a way that it appears to be specifically constructed for the individual Client

· tailor propositions to reflect/address specific Client issues, drivers and opportunities.

how & where will propositions add value/benefit to the Client?

Click here for another 15 checks & tips

OPPORTUNITIES

does your Company need to be a Preferred Supplier?
do you have access to influencers & decision makers?
are the right people available to prepare the Sales Proposal, negotiate and take the order?
are third parties involved?

Click here for another 13 checks & tips

PRACTICE

be proactive and seen as delivering ‘value add’ because opportunities frequently follow on from this - make sure you are tipped off regarding Client issues which you, colleagues or your Company may be able to quickly/easily resolve, free of charge
sell (promote) yourself, your colleagues, your Company; what makes your Company special (values, ethos & culture) but ensure compatibility with the Client; they have to like you, the two organisations have to be compatible - develop synergy
keep yourself and colleagues up to date regarding your Company's offerings but be very careful not to give the impression that you’re the experts even if some colleagues are very keen to be involved; there is a big potential danger here as opportunities for new work are often lost because the wrong people are involved. Enthusiasm alone is very dangerous
examples of your Company's successes should be highlighted wherever/whenever possible (particularly where there is a long-term trusting relationship) - anyone representing your Company on the Client site should have these to hand

Click here for another 18 checks & tips

THE COMPETITION

your Company must have up-to-date appraisals of the Competition which include strengths & weaknesses.
elaborate on your own, your colleague's and your Company's attributes/benefits. You therefore make it obvious where the Competition doesn't stack up against you - it's then very clear where the Competition's shortcomings are without directly saying so.

Click here for another 5 checks & tips

QUALIFICATION

regardless of whether it originates from the Client (Need/Opportunity) or from an initiative by your own Company (Proposition/Opportunity), it will be crucial to qualify each potential order throughout the sales process as circumstances, knowledge and relationships will be constantly changing on both sides
although you may have an excellent relationship with your Client contact and believe that you're home and dry regarding a particular opportunity, it must be qualified in a disciplined way. Never underestimate Clients; sometimes they are far more clever and devious than you think - a Competitor may be feeling just as confident as you, maybe even more so!
the qualification process also requires discipline and objectivity because although a sales order can be there for the taking, there may be sound business reasons not to continue. So, to ensure there is such discipline, people who are entirely neutral should also be included in the qualification/decision making process
because of this, the qualification process should be rigorously followed, remembering that you may need to qualify out at any stage of the sales process
each time you 'qualify', the Sales Action Plan must be updated.

Click here for another 72 checks & tips

ESSENTIAL CROSS REFERENCE

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

BEST PRACTICE QUOTE 7 OF 12

“without opportunities for sales there is no future”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Sales Opportunity Qualification

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities (today)
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

July 29, 2024

Client Contact Management

Richard Wright

July 29, 2024

July 29, 2024 2 minute read

RICHARD WRIGHT

Managing Director at ASPIRE Account Management

CLIENT CONTACT MANAGEMENT

Client Contact Management (CCM) is an essential component of Account Management, without it the whole process will either fail completely with the Supplier eventually being replaced by a Competitor or, as a minimum, result in significant loss of revenue & profit.

Although such drastic outcomes do not happen overnight, they may appear to! This is because a Supplier has not been aware of a gradually changing business climate which it could (and should) have adjusted to. In addition, vital sales opportunities will have been missed. All this because a system of CCM was not operated properly or maybe not even at all.

So, this article introduces the process & protocols to follow in order to achieve comprehensive, effective and consistent CCM.

Although CCM is primarily a fundamental process for all Account Managers and senior staff, anyone representing the Supplier who has direct contact with the Client (at any level) must be aware of how the process operates to ensure continuity.

Some example checks and tips are given below to give a flavour of just how important this component of account management really is.

Essential cross references to other key-related areas are also given to ensure watertight coverage of the Client.

Process

various Client individuals at all levels and in many, if not all, areas should be identified, highlighted/colour-coded on Client Organisation Charts and visits planned over an appropriate period of time by suitable representatives from your Company. Once contacted, the individual should be highlighted/colour-coded differently on the appropriate Client Organisation Chart. A map of Client contact activity will then be gradually built up for the whole organisation and maintained indefinitely
you will also need to nominate a very senior sponsor from your own Company (Board Member or Director). While this looks impressive and shows top level commitment, your senior person can be brought in at key times (eg. closing an order/signing a contract, putting senior Client minds at rest, major problem solving, etc.)
in addition to any outstanding information which may be required for the Account File, you and your colleagues should always be on the look-out for sales leads and also endorse your Company's credentials & ethos whenever possible
any expression of interest by the Client, no matter how small, must be passed on to the relevant person in your own organisation as a matter of extreme urgency - this will invariably be the Account Manager in the first instance
because of these key activities, everyone representing your Company should be briefed at regular intervals on your Company's sales propositions & capability, and reminded that these can be tailored to fit the Client’s specific needs. They will also need to be briefed and objectives agreed before each planned contact
many meetings/conversations with the Client will not be planned, occurring purely by chance. In view of this, you and your colleagues should always maintain a set of questions/discussion topics (tablet, mobile phone, organiser, etc.) which should be memorised as far as possible
these questions/discussion topics should be reviewed on a regular basis and everyone kept on their toes - so test them (unannounced tests/role play). One piece of information acquired informally in the car park, pub or corridor may prove invaluable in the longer term and result in extensive revenue/profit for your Company
click here for another 35 checks & tips

Practice

identify the key players at every level and believe me, there will be key players at the lower levels. These lower levels will inevitably contain an eventual rising star or two, or someone who's close to someone senior, or someone who mixes in important circles because they're just very good socially
establish the hierarchies and protocols of the Client organisation, particularly when working on site. Ensure all people representing your Company (including associates, consultants & contractors you may be using) adhere to the protocols, working practices and disciplines of your Client - there can be no exceptions to this
cultivate/groom your Client contacts at every level. Account Managers have a double role here ie; managing & developing the Account while 'being one of them' (Client side). Account Managers need to 'go into role' but not make it obvious - you must appear genuine at all times to all people. Initially, this will require much thought, time & effort but it will pay off in the long run when you naturally fall into role at the required time with the minimum of effort, producing invaluable results
ask different Client people to explain their mission statement(s) and strategy(ies) to you. Get them to tell you about major events, progress and personal achievements since they have been working there (good & bad) - understand these fully and refer to them when appropriate, you really will impress!
from the outset of the business relationship, strive for a two-way knowledge transfer, invite the Client contact to briefings if appropriate, hold events on their site and attend briefings & presentations given by the Client wherever possible (for knowledge, relationship building & making a good impression)
return missed telephone calls on the same day - even if there’s nothing new to say
maintain contact if you don't have this on a regular or scheduled basis, particularly if the ball is in your court and you need to get back to them on something but you still don’t have the solution/answer!
if a Client or Prospect contact is soon to transfer to another position or leave their Organisation, will they be interested in your Company's services/propositions in their new role? Can you arrange another meeting now?
click here for another 15 checks & tips

Essential Module Cross Reference (Inputs)

Essential Module Cross Reference (Updates)

CLICK HERE FOR ANOTHER 50 CHECKS & TIPS

BEST PRACTICE QUOTE 6 of 12:

“client contact management is the vehicle for developing key business relationships at every level throughout the client organisation”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Sales Propositions & Opportunities

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management (today)
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth”

Richard Wright

July 23, 2024

Client Relationship Management

Richard Wright

July 23, 2024

July 23, 2024 2 minute read

Richard Wright

Managing Director at ASPIRE Account Management

CLIENT RELATIONSHIP MANAGEMENT

Once you’ve made that initial contact with any Client manager or member of staff at any level, a business relationship needs to be developed.

The amount of time and effort required will gradually become apparent as you find out more and more about the individual, where they sit in the organisation and their value in terms of information and potential future business.

There are a multitude of reasons for engaging with Clients (personal introductions, fact-finding, fulfilling obligations, progress reviews, business & people issues, complaints, sales opportunities & negotiation, contractual, entertainment/hospitality, social, etc., etc.).

Over time you'll develop numerous business/working relationships with Clients who are 'there', you won't be able to pick & choose! Sometimes you'll have to work very hard to develop the relationship with someone who you don't particularly like or don't have a regard for in terms of the value they bring to the job.

Also, if the Client relationship is not good, your colleagues will not be happy and attrition levels will inevitably rise together with falling revenue and profit. However, if the relationship is strong, there is every likelihood that further sales orders will follow.

Therefore, the following process & protocols are considered essential in the development of strong business relationships and should be followed by anyone representing your Company who is engaging at any level in the Client organisation. There can be no exceptions and applies equally to both permanent staff and third parties.

Although Relationship Management is primarily a fundamental process for all Account Managers and senior staff, anyone representing the Supplier who has direct contact with the Client (at any level) must be aware of the content to ensure continuity.

Example checks and tips are given below.

Essential cross references to other key-related modules are also given to ensure watertight coverage of the Client.

Client Contact

strive for multiple Client relationships across the Organisation and at different levels - relationships can be extremely valuable at the lower levels regarding a multitude of fact-finding about the business, staff, Competition, what’s going wrong/right/etc
do the rounds with senior Client people to develop relationships & personal confidences, gain business & political knowledge as well as individual views & social/domestic information, etc. - but do your research beforehand as they may not be happy with the deliverables, service, people or products your Company is providing!
be very careful when talking to the Client about 'working together in partnership' as the word ‘partnership’ means different things to different people and can have legal/contractual consequences. Your Company will therefore need to have an agreed definition if it's going to be used so there is no confusion or manipulation; everyone must know this
ask your Client contacts what they really need/expect of you and your Company? What is their success criteria for how your Company will be judged?
click here for 10 more checks & tips

People

gradually develop sound/good working relationships - your Client contact's PA/Secretary is a good place to start although these people are often pretty sharp and may know your game but that doesn't mean they won't comply. Some will be much easier to 'win over' than others, some will be frosty to begin with - you'll need to persevere and maybe modify your approach, back off for a while. Crossing swords with a boss's PA is something you may never recover from, professional suicide! You may not have even crossed swords with them, they may initially just not like you or you irritate them. So, work on it, talk to people who do get on with them but be discrete/subtle, you may have to bide your time
where are the pubs that Client staff go to? Start to use them! Don't be too obvious in your mission to gain as much information as possible on Client business & staff, their Competitors, your Competitors, current problems/future issues, etc, etc.
strive to make your Client contact(s) look and feel good/special. Let them take the credit for what's been achieved, if that's what they want, even if they don't deserve it - they’ll know that you know that it's down to you/your Company even if they don't acknowledge it. It will ultimately be to your benefit, particularly if and when they become dependent on you!
if you’re managing colleagues strive for loyalty and people going that extra mile, ideally without being asked
click here for 11 more checks & tips

Work

Be proactive and regarded as delivering ‘value added’ (having maximised your 'on-site intelligence'):

share your own Company's best practice
anticipate issues not yet considered/realised by your Client and take appropriate steps as and when appropriate
strive for 'skills transfer' to Client staff & managers
ask yourself why things are being done the way they are; the rationale, the justification - can you think of ways to make things easier, quicker, less stressful, more cost effective for the Client?
click here for 7 more checks & tips

Entertainment

Pre-Covid, entertainment/hospitality was often a key component in developing a strong business relationship with Clients. However, there are some important points to remember if and when we can return to entertaining:

find out what's allowed to be accepted by the Client organisation
take care to select appropriate venues and not go over the top; you're not looking to impress in that way!
prepare an agenda (sometimes 'hidden') and discussion topics beforehand (work, home & family life, interests, hobbies, holidays, etc)
make notes immediately after any form of entertaining (as you would do if you met in the office) - and remember, they may make notes too!
review the event's usefulness/value for money after each occasion
click here for 13 more checks & tips

Issues

ensure you and colleagues learn from mistakes made. Mistakes happen, everyone makes them. They’re allowed but only once! Anticipate problems/issues/etc; put yourself in the other person’s position. There should be no cover-ups - you need to know about all mistakes - talk them through with colleagues behind closed doors so that people learn never to repeat them. The golden rule is that no matter what has happened and/or regardless of the potential repercussions, you must never lie. Always put your ‘hands up’ and rely on the other person's compassion - just admit or volunteer whatever the problem/issue is, do whatever you can to minimise the impact of the situation and give assurances that it will never happen again
never forget that mistakes and criticisms are often opportunities to score points as you address them/put them right, and can ultimately improve your Client relationship - in either case, both are inevitable so accept that they happen, take them in your stride and then decide how to respond (and always with urgency). If you don’t have a quick solution, maintain contact on a regular basis and keep the Client informed of progress, or even lack of it! - and don’t take things personally or look to blame others
there are always some Client contacts out there who are incompetent, arrogant, rude, insecure, etc. and you will undoubtedly experience some if not all of these traits - but hopefully not all in the same individual! You really have to be disciplined and not show your feelings or contempt for such people, no matter how unfair this seems, particularly after you’ve done so much to help them. However, if you've screwed up you must still apologise and be seen as genuine by the ‘injured party’. You must also do everything you can to make amends for any shortcomings
look for hidden agendas and the games people play; some are very clever/subtle, sometimes you'd never realise what they were up to unless you were on the lookout or really thought things through
click here for 11 more checks & tips

Essential Module Cross Reference (inputs to Relationship Management)

Essential Module Cross Reference (actions)

CLICK HERE FOR 50 MORE CHECKS & TIPS

BEST PRACTICE QUOTE 5 of 12:

“once you’ve mastered the art of relationship management you’ll achieve outstanding results”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Contact Management

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management (today)
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

July 16, 2024

The Account Manager

Richard Wright

July 16, 2024

July 16, 2024 1 minute read

Richard Wright

Managing Director at ASPIRE Account Management

The Account Manager

If you haven’t selected the right individual(s) and fully empowered them, you’ll be the first port of call when it comes to playing the ‘poor performance blame game’.

Because Account Managers are the face of your Company when it comes to dealing with Clients and third parties, they must be very visible at the Client site and regarded as an ally by everyone (Client, third parties & anyone representing their own Company).

As well as being key players for both their own Company and the Client, Account Managers must also be a supporter & promoter of the Client when discussions take place within their own organisation.

For Account Managers themselves, it’s imperative that they understand the Client's culture and are seen to ‘merge’. It’s crucial to demonstrate this understanding as early as possible and at every level of Client contact; Account Managers must engage with the culture and ‘speak the speak' as and when appropriate. As soon as this begins, the Account Manager's standing in the Client environment will significantly increase.

Before Covid-19 it was essential for Account Managers to socialise with the Client, third parties and everyone who represented their own Company. Socialising was frequently the source of very useful information which couldn’t otherwise be obtained and provided invaluable background to unexplained situations encountered in the workplace. Let’s hope this option returns in the not too distant future.

Although Account Managers may not be dedicated or even have that title, the Account Management process must still be followed.

Some of the example checks and tips below relate to Account Managers operating in large Supplier organisations. Account Managers who represent small and medium sized Supplier businesses will need to cut down the subsets as appropriate. The checks and tips are directed to the Account Managers themselves.

Responsibilities

thorough understanding of all contractual terms & conditions, service level agreements, KPIs, etc.
broad appreciation of the Client's business, financial performance, market & Competitors
comprehensive knowledge of your Company's sales propositions, products, capabilities and financial performance
ensure all risk management practices & procedures are continually adhered to by everyone concerned
ensure your Company's senior management meet the right level of Client management at the appropriate frequency
regularly test colleagues' knowledge (all those who have Client contact) of current contracts & commitments, sales propositions & products and Client business operation, performance & culture
initiate Client Satisfaction Surveys & create Improvement Action Plans

Priorities & Practice

Outset

approach every new Client as if it's going to be a long-term business relationship even if the initial contract is short term or small.
strive to maintain a high profile and encourage an atmosphere of openness. Act as a facilitator/enabler wherever possible and let Client contact(s) know who else you are seeing in the organisation.

Knowledge

identify mission statements, strategies, goals & targets of both the Client and your own organisation - know these off by heart. It will be so impressive to draw on these when talking to the Client or your own boss.
find out key dates/events in the Client company's calendar - staff meetings, business updates, sales conference, dress down days, Christmas lunch/party, etc.

Reputation

you’ll enhance your reputation by getting across your understanding of your Client’s market, business, problems, challenges, culture, etc. (look for opportunities to do this).

People

influence the selection of the most appropriate individuals to work for your Client. In addition to a good skill/technical fit, individuals must also fit with the Client's culture. If you have any doubts about an individual fitting-in then they probably won't, so don't use them - they'll be enough risks to deal with as it is!

Practice

for presentations, tricky meetings and difficult discussions you must rehearse, rehearse, rehearse. Always have your Company's presentation to hand and be ready to give it at short notice.
ensure there is quality in all that is done but not necessarily 'top' quality as the Client may feel they’re paying for something which isn't necessary/required.
as you increase your knowledge of your Client’s business be proactive in making suggestions for improvements. How can you make things easier for your Client contact(s), improve efficiency, etc.? Depending on your Company’s involvement (there might not be any yet), you may not charge for this but don’t be afraid to ask for payment if it’s justified and you don’t really benefit (directly/indirectly) by giving a 'freebie'.

Dangers & Pitfalls

Account Managers must be fully empowered to take responsibility for their crucially important role.

although there will be times when certain Client individuals seem not to like you or are difficult for good reason or not (they may just resent your Company being there), it's vital that you treat them exactly the same as others who you do get on with. Never behave or act any differently. Not only will some of your dissenters eventually come around, some may even confide in you, ask your opinion, etc. - and you could then become privy to key information. Some of these people may eventually respect you and become totally trusting.
any problems/issues must be nipped in the bud, remove problem people who represent your Company and initiate plans to deal with any problem Client staff/managers as appropriate.

You may even choose to perform SWOT analyses on difficult people.

Click here for Attributes, Manner, Dress & Personal Care

The importance of the attributes, role, responsibilities and practice of Account Managers cannot be over-emphasised; your business health will always be dependent on these individuals. Appointing an Account Manager will be one of the most important decisions ever made by a Supplier. If the person doesn't fit the bill, or isn’t fully empowered, it could cost their Company millions of pounds.

Click here for another 100+ tips.

Best Practice Quote 4 of 12:

“the account manager is pivotal to success or failure - their appointment is the most important decision”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: Client Relationship Management

Account Management Blogs - the series:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager (today)
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

July 9, 2024

Supplier Values, Ethos & Image

Richard Wright

July 9, 2024

July 9, 2024 1 minute read

Richard Wright

Managing Director at ASPIRE Account Management

Supplier Values, Ethos & Image

Does everyone agree that it’s crucially important for Clients to understand that your own Company has an impressive set of values and an ethos to be admired which distinguishes it from the Competition?

Of course you do!

Indeed, many businesses will already have these attributes which are well documented and used in the sales process.

However, although some companies will have such values and ethos, they aren’t documented or possibly not even thought about or realised.

Or they just don't exist in any form! In which case this subject needs to be given swift and careful thought, and debated/workshopped/brainstormed by key members of your organisation.

So, a clearly defined set of values needs to be established and conveyed to all colleagues & Clients. They will also need to be incorporated into the sales process. In time, these values will become part of the fabric of your Company, part of its culture.

However, such values must be meaningful and genuine. You can't just make them up!

Nevertheless, it can’t be overstated just how important it is for your Clients to be aware of your values & ethos which will be the foundation for all that you do for them.

These are some examples of what you might consider:

individual mentorship scheme for all new joiners or change of role
promotion from within wherever possible
demonstrate pride in all that is done
prompt payment of Suppliers unless good reason not to
always convey bad news at the earliest opportunity
proactively strive for continuous improvement
respect for the Client's culture, values & practices
strive for a track record of delivering real business benefit
strive to make Client organisations & individual contacts (more) successful
identify areas where any form of value added (freebies) can be provided without difficulty
rigorous qualification of sales opportunities throughout the sales process
strive for every Client to become a reference site

Some of the above 'values' will be integral to your own Company which help distinguish it from the Competition. They will also provide the foundation for high quality deliverables, services, people & products which in turn will make your Clients more successful.

As a consequence, never feel awkward about what you charge or profits made providing, of course, you have supplied the required level of quality ‘deliverable’ on time and within budget; particularly if you’ve also provided 'added value' where the Client was not charged for something beneficial which was over and above what was contracted for.

People (your Company's biggest asset), consistent quality output (pre-requisite for repeat business) and openness (earning colleague & Client trust) will always be the critical success factors regarding future progress in Client Account Management.

The term 'people' is used in the broadest sense when referring to your own Company and means anyone who is working for, or representing, your organisation including consultants, contractors, temporary staff, external partners, associates and so on.

So, it’s vital that wherever your resources come from it remains seamless to your Clients. Indeed, any differences in work practice, values, dress or attitude may seriously jeopardise the Client relationship and damage your profit margin & future business.

Therefore, it is imperative that all 3rd parties are made fully aware of the above before they are taken on. In addition, there must be adequate and consistent induction (which includes values & ethos) for anyone representing your Company on the Client site; permanent staff are no exception.

Click here for another 40+ tips.

Best Practice Quote 3 of 12:

“your company’s values, ethos & image will be the foundation for business excellence”

Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.

NEXT POST: The Account Manager

Account Management - the full set of Blogs:

Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image (today)
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management

As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE Account Management

25 modules, 1500 checks & tips - best practice at its practical best

ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"

Richard Wright

ACCOUNT PERFORMANCE REVIEWS

You’ll never achieve your business goals & targets without regular pragmatic reviews of your Account Management performance.

Richard Wright

BALANCED SCORECARD

The Balanced Scorecard is a performance management tool which will enable you to assess how well the Account Management process is working. It provides for the 'measurement' of several key areas, most of which are not financial.

RICHARD WRIGHT

SALES OPPORTUNITY QUALIFICATION

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

RICHARD WRIGHT

SALES PROPOSITIONS & OPPORTUNITIES

Where a Company’s organisation structure accommodates a formal sales team, sales and marketing activities will take place both inside & outside the Account Management (AM) process.

However, as your Client Account will not survive without new business, everyone who represents your Company must be constantly on the lookout for opportunities to secure further work, no matter how small. Their 'sales-related antenna' should always be up, seeking opportunities to:

win work informally

be invited to bid for assignments, projects, services, people placements &/or products.

improve reputations and your Company's standing at any level in the Client organisation

enhance their own Client knowledge by attending presentations, briefings, meetings, social events, etc.

RICHARD WRIGHT

CLIENT CONTACT MANAGEMENT

Client Contact Management (CCM) is an essential component of Account Management, without it the whole process will either fail completely with the Supplier eventually being replaced by a Competitor or, as a minimum, result in significant loss of revenue & profit.

Richard Wright

Managing Director at ASPIRE Account Management

CLIENT RELATIONSHIP MANAGEMENT

Once you’ve made that initial contact with any Client manager or member of staff at any level, a business relationship needs to be developed.

The amount of time and effort required will gradually become apparent as you find out more and more about the individual, where they sit in the organisation and their value in terms of information and potential future business.

There are a multitude of reasons for engaging with Clients (personal introductions, fact-finding, fulfilling obligations, progress reviews, business & people issues, complaints, sales opportunities & negotiation, contractual, entertainment/hospitality, social, etc., etc.).

CLICK HERE FOR 50 MORE CHECKS & TIPS

Richard Wright

The Account Manager

If you haven’t selected the right individual(s) and fully empowered them, you’ll be the first port of call when it comes to playing the ‘poor performance blame game’.

Richard Wright

Managing Director at ASPIRE Account Management

Supplier Values, Ethos & Image

Does everyone agree that it’s crucially important for Clients to understand that your own Company has an impressive set of values and an ethos to be admired which distinguishes it from the Competition?

Of course you do!

Richard Wright

Managing Director at ASPIRE Account Management

Without a satisfied client you're doomed …………. unless there’s an opportunity to turn the situation around if there have been some client management changes or you’re the newly appointed account manager.

However, no matter what these people are like, you have to work with them. You have to get onto their level and develop a sound business relationship regardless of how difficult it may be.

Richard Wright

Managing Director at ASPIRE Account Management

WHAT IS ACCOUNT MANAGEMENT?

However, although the new business environment continues to evolve, the basic principles & processes of business best practice will remain, being even more important than before.

RICHARD WRIGHT

RISK MANAGEMENT

“THE PROCESS WHICH ENABLES YOU TO IDENTIFY, ASSESS, CLASSIFY, ACTION, MONITOR AND EITHER AVOID, REDUCE, SHARE OR ACCEPT (AT ITS CURRENT LEVEL) ANY IDENTIFIED RISK”

So, there are always choices:

Avoid the risk by eliminating the probability or by not undertaking the activity in the first place

Reduce the probability and/or severity of the risk or extend the timescale of the specific activity

Share the risk with a third party by either transferring it (outsourcing) or taking out insurance cover

Accept the risk at its current level of probability & severity, accept the potential consequences and budget accordingly, together with contingency planning

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

Richard Wright

Managing Director at ASPIRE Account Management

CLIENT SATISFACTION SURVEYS

However, there is a great potential danger in surveys being too long and putting recipients off or people leaving it until they have more time and then never getting round to it!

Richard Wright

ACCOUNT PERFORMANCE REVIEWS

You’ll never achieve your business goals & targets without regular pragmatic reviews of your Account Management performance.

Richard Wright

BALANCED SCORECARD

The Balanced Scorecard is a performance management tool which will enable you to assess how well the Account Management process is working. It provides for the 'measurement' of several key areas, most of which are not financial.

RICHARD WRIGHT

SALES OPPORTUNITY QUALIFICATION

CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS

RICHARD WRIGHT

SALES PROPOSITIONS & OPPORTUNITIES

Where a Company’s organisation structure accommodates a formal sales team, sales and marketing activities will take place both inside & outside the Account Management (AM) process.

However, as your Client Account will not survive without new business, everyone who represents your Company must be constantly on the lookout for opportunities to secure further work, no matter how small. Their 'sales-related antenna' should always be up, seeking opportunities to:

win work informally

be invited to bid for assignments, projects, services, people placements &/or products.

improve reputations and your Company's standing at any level in the Client organisation

enhance their own Client knowledge by attending presentations, briefings, meetings, social events, etc.

RICHARD WRIGHT

CLIENT CONTACT MANAGEMENT

Client Contact Management (CCM) is an essential component of Account Management, without it the whole process will either fail completely with the Supplier eventually being replaced by a Competitor or, as a minimum, result in significant loss of revenue & profit.

Richard Wright

Managing Director at ASPIRE Account Management

CLIENT RELATIONSHIP MANAGEMENT

Once you’ve made that initial contact with any Client manager or member of staff at any level, a business relationship needs to be developed.