Sales Analysis Situation
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Sales Analysis Situation...

Sales Analysis Situation

The Network System for a Bank

Tasks:
- Develop an “Information Gathering Matrix”
- Draw an influence circle diagram with the decision maker
- Develop our strategy for this opportunity

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Sales Analysis Situation Sales Analysis Situation Document Transcript

  • 31/03 2009 Sales Situation Analysis The Network System for a Bank Assignment: - Develop an “Information Gathering Matrix” - Draw an influence circle diagram with the decision maker - Develop our strategy for this opportunity B2B Loris Rio Christophe Aronowicz Léo Boukou-Poba Eric Chollet Mathieu Defarge
  • TABLE OF CONTENTS INFORMATION GATHERING MATRIX 3 INFLUENCE CIRCLE 5 STRATEGY 7 PHASE 1 - MARKET INTELLIGENCE: 7 PHASE 2 - MARKET OPPORTUNITY: 7 PHASE 3 - RELATIONSHIP PLANNING 8 PHASE 4 - DIALOG PROGRAM AND INTEGRATION 9 HOW WE ARE GOING TO PROCEED 10 BIBLIOGRAPHY 13 2
  • INFORMATION GATHERING MATRIX What specific How do the Who is the buying center and what is the base of Who are the powerful buyers benefits does important buyers Selling strategy their power? and what are their priorities? each important view us? buyer want? INITIATOR - Account managers from those - Account Managers: Account Managers: branches. Priorities are to answer their benefit is to In case of an upgrade Our strategy would Director of telecommunications and networks: He is at the customer’s needs as quick as have an efficient of the equipment be to show the origin of the project, he wants to replace the company’s possible without making them wait network that will which they are company how our telecommunication system and call companies like us to find and risk losing them. Information is provide them better working on, these new system can help the solution. He is specialized in this field of activity so he is power and quick information access tools to deal with the customer services them in a long term qualified to evaluate the needs of the company and also would increase satisfaction with consumers. Their aim representatives relationship with what we can bring to them. clients, keep a good image, get more is to make the would benefit from their customers. clients and make more money. They difference in the better working INFLUENCERS Our goal is to make are also very important as they are direct relation they conditions but also the final users of the computers and have with the client from higher rewards them realize how Director of customer services: He is always focused on the important the customer so he knows how a better network system could are working daily on the networks. thanks to an easier as they would be system can be an improve the satisfaction of the client. Their expert status might be access to customer more effective. They asset for the important in the final purchase information. see only benefits company at every Director of facilities: He knows everything about the decision, as they know better than from us to provide level starting as the equipment of the company and about the possible anyone else if the system is them the best tools. permanent user, the infrastructure that could be set up in the company. successful or not. Their priorities are - Director of Director of account manager, to work on a powerful and reliable until the CEO to Branch managers: As they are responsible of the employees Telecommunications Telecommunications computer systems and networks. whom we have to in the branches that will be using the product, they might and Networks: as he and Networks: He is in charge of the all emphasize the have an influence in the decision as they represent the end - Director of Telecommunications perceives us as the network perfect and unique users of the product. They also aware that it could facilitate and Networks: He is part of the great opportunity for infrastructure he use of our system; to the Account Managers into the information access, so gain powerful buyers as he has an him to take more wants the system to show how much our time. attraction power. He could easily power and increase company is serious 3
  • DECIDERS convince the CEO that the Bank’s be the most reliable his reputation in the about making good activity relies on the quality of it could. This new company by business with them. Chief financial officer and treasurers: He is in charge of the the Network, as computers and computer network improving the finance part of the company so he knows the financial state systems got a capital role in those system needs to performance of the We will show the of the company and how much it could spend on such a kinds of companies. His priorities are work and to seem department he is in director of T&N this project. He can actually evaluate if that new system could be to select the best computer system reliable to everybody charge of. He will system through a a good investment in a long term and so be an strong asset among those which are proposed. involved in the attentively consider test with the people for the company. company: the our offer but will that will actually use - Director of customer services: As customers but also make a selection in a it. That way, the real CEO: He is in charge of the company so the final decision he is in charge of the relationship users will get to the members of the few months, so the remains his. Being the boss, he does have opinion on this with the customers, whose know it and company who will aim of our strategy is even if he is not directly related to it. As long as this new satisfaction is the most important appreciate the real work with it every the convince him. system could increase future profitability, such an factor for a business to succeed. He quality and day. investment can be made to develop his company. Not has a status power that makes his Director of customer advantage of that accepting this new system could be a wrong move for the opinion about any strategic decision - Director of services: He sees the service. future of the company. Avoid weaknesses is his goal and very important, as he knows what customer services: company as a keep the best image possible for the company. the customers want. His priorities His benefit is the solution to the Clients’ satisfaction will evaluate are the development of services for satisfaction of the technical problems PURCHASER concretely our the customers in order to increase client. He deals his department has system and users will Director of purchasing: He is in charge of the purchasing satisfaction. everyday with been dealing with in gain time, clients and aspect of the company so the process of buying new system customers so he the past with the slow money for the or anything related to the company’s business is actually his. wants that the access to the company. service provided by customer GATEKEEPER the company to be information. The We will prove them the best. technical our professionalism Both corporate purchasing and corporate improvement being ready for the telecommunication departments analyze the company’s provided by our delivery of the new needs and recommend likely matches with potential services would system respecting vendors. certainly help him to their three months increase customer deadline. satisfaction. 4
  • INFLUENCE CIRCLE Decider: CEO As a regional medium sized company, the CEO, who is at the heart of the company, is certainly the one that will make the final decision. He is at the center of the selling strategy and the final step of the decision process. First circle Director of Telecommunications and Network: He’s directly concerned since he is responsible for everything related to Telecommunications and Networking activities. Obviously he has to be considered as a strong recommender for the CEO. When it will come to choose one solution among others, the Director of Telecommunications and Network advice will be one of the most important within the company. 5
  • Director of Information Services: He is also closely concerned by the new network since he is in charge of information’s circulation within the company. Obviously, he is a strong recommender for the CEO since the network has features directly linked with his job. He has to be convinced that the solution we will provide to them is the best. Director of Purchasing: As this director is responsible on all purchases made by the company, his opinion on the price of the system is really important. He appears as a recommender to the decider by strongly recommending a solution's price and its cost for the company. Chief Financial Officer and Treasurer: As this director is responsible of the flow of money of the company, his opinion on the price of the system is also really important. He can be a strong influencer to the CEO and in a first time, he might be reluctant to spend money on the network. Director of Customer Services: He is more of an influencer and has his opinion to give about the solution to buy as the network will permit to share customers' information between the agencies. He can recommend or not the use of a program concerning an "easier access to customer information". Directors of Facilities: The system that will be bought must run on the existing equipment, so this director can influence the choice on the program he thinks will work best. Second Circle Branch manager: Branch managers are directly concerned by the new system because they will be using it very day and so will their teams, so they are very important in the selling process and need to be the first convinced. Director of Human Resources: He is also an influencer as he is responsible of the communication within the company and by that he and his team will be big users of the program. 6
  • STRATEGY In this case study we are working to sell a new computer network system to a medium size regional bank for electronic mail and shared data. We were contacted by the Director of Telecommunications and Networks. He has explained to us that he would like to put into the branches a new network system which will provide for electronic mail, data communications, and easier access to customer information by the account managers. To proceed, we will need to plan our contact strategy in order to get in touch with the right guys at the right places and in order to convince directly and indirectly the final decision maker within the decision making unit. Our planning strategy can be divided in 4 major steps, each one divided in small tasks and objectives. In this first part, we are going to explain our contact methodology. Phase 1 - Market intelligence: In this phase we analyze the market in order to determine its specifications and characteristics. This would allow us to better understand the buying processes within the bank’s (and its branches) organization and to highlight the important actors and interlocutors within the decision making unit. Identifying the decision making unit and its components is decisive in this phase, if it is well executed this would make the other steps a lot easier. In this phase we can use various analytical tools from the information gathering matrix or the influence circle to the management levels tool or the User/Specifier/Economic/Sponsor analysis. In this phase it can also be relevant to analyze the market in order to determine what the potential opportunities are. In our case study, thanks to the Director of Telecommunications and Networks, we assume that we could be able to get in touch with other members of the decision making unit since he is the one who has contacted us. He acts as a gatekeeper, the potential long term relationship we plan to establish mostly rely on him at the beginning of the process. Phase 2 - Market opportunity: In phase 1, we took time to understand the market, the organization and the way it is functioning. In phase 2, we assume that we have understood the way the organization is functioning, we have to determine who the key interlocutors are and their influence within the decision making unit thanks to the analytical tools used before. It is now time for actions. In this phase we can use various action tools, among those ones, we can talk a little of the GROWs tool (Goal Role Objectives and Work plan). The main purpose of this tool is to determine how to approach the different interests, and in what order. Indeed, this tool allow us to determine the level of implication of each member of the 7
  • identified decision making unit and to determine how we are going to contact the most relevant ones in order to achieve our goal, to sell our networking solution and to build long-term relationship. Used with the circle of influence, this tool can be very useful and relevant. By understanding the level of implication of every actor, we can select the best way to contact the right guys at the right places in order try to convince them that we can provide is the best in terms of quality, reliability and security for example… Phase 3 - Relationship Planning At this stage, we try to determine the optimum relationship strategy with the different actors and how to be the most efficient to convince them. Segmentation We perform a primary segmentation, dividing the different people of the influence circle through their sector and function, in order to be able to establish priorities among them. It directly refers to the influence circle: we establish a list by putting who is of first importance (the recommenders), who can have an impact on the decision (the influencers) and who is the final decider. As we saw, the director of information, the director of telecom and networks, the director of purchasing are recommenders and are of first priority for us. It appears to us that the two most important persons to convince are the director of telecom and networks and the director of purchasing (the first one will be directly responsible of the network installed and the second one is responsible of the act of buying). The director of customer services, the director of facilities, the Chief Financial officer and treasurer, the branch managers and director of HR appear as the influencers- at the end they should have a little bit less impact but shouldn't be neglected at all. 8
  • Here is a diagram showing the segmentation we performed and showing the importance of each actor in the information chain: Then we should apply a behavioral segmentation in order to understand each person's purchase behavior; this will help us knowing how to approaching them and what strategy to adopt. Phase 4 - Dialog program and integration Contact Model The contact model establishes the frequency or volume of contact prioritization between the different persons in the company. We should establish a dialog planning between them; it would help us to know where we are in the negotiation process, to see achievements when a person is "convinced" and to see how well the process is advancing forward. 9
  • Dialog Combinations Relationship building demands dialogue not monologue. These are based on differing criteria dependent on job functions and segments. All the data gathered through the dialogues should help us to build a strong argumentation. This is how we plan to build a profitable long term solution and how we plan to reach the final decider. By influencing the right guys at the right places and in the appropriate order, we want to manage the risk from our client point of view and to secure the in-progress relationship we are building with the client. How we are going to proceed Now it time to see how we are going to proceed: In the case study, the director of Telecommunication and Network acts as an initiator and gatekeeper, we have to rely a lot on him. The first important step is to listen to him. By doing this, we will be able to highlight his needs and wants. Obviously, he wants the system to be changed, that surely means that the current system they have been using since then is not up to date any more or does not fit the company’s expectations. In this phase it will be relevant to determine on what extent potential users of the new network are not satisfied with the current product. By doing this, we can determine if our solutions fit to their expectations. Once that is done, we have to gather as much information possible to understand the way the company is functioning. To do so we can ask the director of Telecommunications and Network to explain who the potential users will be. The potential users in that case have a key role since they will act as recommenders for the final decider in the decision making unit. In that case study, we have identified several major interlocutors that could act as recommenders and influencers: The recommenders Director of customer services. He is always focused on the customer so he knows how a better network system could improve the satisfaction of the client Director of facilities. He knows everything about the equipment of the company and about the possible infrastructure that could be set up in the company. The branch managers : As they are responsible of the account managers in the branches that will be using the product, they might have an influence in the decision as they represent the end users of the product Chief financial officer and treasurers. He is in charge of the finance part of the company so he knows the financial state of the company and how much it could spend on such a project. Director of telecom and network. He is at the origin of the project, he wants to replace the company’s telecom system and call companies like us. He is specialized in this field of activity so he is qualified to evaluate the needs of the company and also what we can bring to them. 10
  • Influencers Branch manage and account managers are directly concerned by the new program because they will be using it every day, so they are very important in the process and need to be convinced. Once we have listed all the interlocutors, we have to classify them, since they do not have the same involvement in the decision making unit. For example, the involvement of the director of telecom and network is more important than the involvement of the director of human services in the decision making unit. By doing this, we can determine how we are going to communicate with the interlocutors of the company in a way to convince the final decider. In this phase, we use analytical tools and action tools such as the ones we referred before in the methodology (information gathering matrix, circle of influence, GROWs tool…). Thanks to this tool we can determine information circulation patterns and determined who is involved and why. This is what will be conditioning our selling strategy for each member of the decision unit. Other important thing is that they do not seek the same benefits, and at the moment to convince each actor we will have to consider that. For example, while the director of telecom and network is seeking a network that could provide email services and shared data, we can imagine that what the director of human resources is seeking is a way to improve the information circulation within the organization by using faster equipments. The trick in this phase is to make the members of the decision making unit acting as strong influencers and recommenders in order to convince the final decider. If we are able to propose solutions that can solve every expressed problem by each member, there is a strong probability that they act as advocates of our solution. If we take a look at the circle of influence we draw, we notice that there are several interlocutors that it is strategic to convince: First of all, the director of telecommunication that acts as an expert, he is the initiator of the project and the one who expressed to us the need to change the current network system in the first place. To convince him is very important, in that case study he also acts as a hub since he can put us in touch with other important members of the decision making unit. The director of information and services can act as a recommender, we have to listen to what he have to said since he is closely concerned by the new network system in order to determine what his needs and wants are and what benefits he is seeking. In that case he may be willing to have a faster equipment that would allow a better information circulation within the company and that would improve its profitability. The director of facilities is responsible for all the equipment in the company and obviously his role is very important. By questioning him, we may highlight his concerns about the current situation and we may discover what he does not want our system to be. 11
  • It would also be relevant to question the director of customer services for several reasons: he is in charge of everything related to customer relationship management and he could be relevant to ask him what he thinks of the current situation in order to highlight possible problems and to convince him that our solution could be what he expects for. The chief financial officer & treasurer is also someone that needs to be convinced. He may be very reluctant to the purchase of a new network system since it implies quite a big money investment. The director of human resources and the branch managers are less involved in the decision making unit as shown in our circle of influence but that does not mean that their role is not important. Their influence has to be taken in consideration. In the case study, we think that they could have an influence on the director of telecommunication and network and on the director of information services since they are daily user of the actual system and they may have very interesting recommendations for the new network. Since in B2B, every product or service have to be adapted to each client in order to fit its needs and wants and to build a long-term relationship, it may be important to include the recommendations of those daily users in our strategy. As we said earlier, during this whole process, we used dialogs with every member of the decision making unit and the daily user of the current network to gather information and to build a strong argumentation in order to convince each member of the decision unit and the final decider in the end. 12
  • Bibliography Articles Take a bigger bite : understanding the Relationship Theme, IAS B2B Marketing : http://www.iasb2b.com/brandialog/take-a-bigger-bite Books : Global Account Management : Understanding the customer’s decision-making process, Peter Cheverton, published by Kogan Page Publishers, 2008, 242 pages http://books.google.fr/books?id=QEwXT2F3GssC Business-to-business marketing : a step-by-step guide, Ray Wright, published by Pearson Education, 2004, 522 pages http://books.google.fr/books?id=JfPVXQOLAWsC 13