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Creating Higher Customer Value Across Agencies

Creating Higher Customer Value Across Agencies. Business Council for International Understanding Interagency Trade Officer Course. The Summit Group. “… to gain knowledge accumulate; to gain wisdom, eliminate.” - Chinese Proverb. Value Thought Creation Framework.

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Creating Higher Customer Value Across Agencies

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  1. Creating Higher Customer Value Across Agencies Business Council for International Understanding Interagency Trade Officer Course The Summit Group
  2. “… to gain knowledge accumulate; to gain wisdom, eliminate.” - Chinese Proverb
  3. Value Thought Creation Framework Lessons from the Private Sector Value Statements Customer Business Compass The Summit Group Value Principles Total Value Creating Third Box ThinkingTM Business Issues & Initiatives Worksheet
  4. Navigating Customer/Client Interactions
  5. Observable 5-10% Dangerous 95-90%
  6. Understanding the Client The problem defined is the problem solved The opportunity found is the opportunity leveraged
  7. What is Value? Value = Benefits - Costs Benefits Tangible Measurable Perceived Customer Defined Business Personal Benefits Costs Economic Measurable Political Capital Learning Curve Switching Costs Opportunity Costs Aggravation/Frustration Cost
  8. Keys to Value Creation Knowing Your Customer’s Business Understand what value the client is trying to create for their own customers, and for themselves Knowing Your Agency’s Capabilities Understand what value you can provide for both the client and THEIR customers Understand the “so what” of the value you provide Knowing Other Agencies’ Capabilities Understand what value other agencies can provide that you cannot
  9. The Summit Group Global Research How clients want to be served?
  10. Client-facing skills Anticipate needs (proactive innovation) Listen beyond product/service needs Be a consultative problem-solver Sell in financial value terms Conclusions: Clients want to deal with business people Higher order of business acumen required Be real How Clients Want to Be Served Organization-facing skills Leverage all of your assets Manage multi-level relationships Manage “virtual teams” Manage execution Based on research ITC, London School of Economics, The Summit Group
  11. Summit Group Tools for Knowing Your Customer and Creating Value
  12. What do they care about? What are their critical business issues? What will be important to them? What value do they rely on to win? What do you have? How does what you have impact what they care about? How do you communicate this? Prove it!!! Value Creation Thought Framework THEM US FIT PROOF
  13. Value Creation Thought Framework Value Thought Creation Framework US FIT PROOF THEM What do customers care about? What issues do they focus on? What will be important to them? What value do they rely on to win? What do you have to offer? How does what you have impact what they care about? How do you articulate this? Prove it !!!
  14. Customer Business Compass Market / Brand Initiatives What the customer’s brand means (What does the customer desire the brand to mean in the market?) How does the customer maintain and sustain their current customers (loyalty)? How does the customer attract new customers? Competitive Initiatives Who are the competitors, and their strategic direction in the market where the customer is and where the customer wants to be? What are the customer’s capabilities/state of readiness to win in its desired marketplace? What are the marketplace requirements? Strategic Initiatives What the end state is – in what markets does the customer want to be? What markets does the customer choose to divest? What are the steps to getting there? Financial Initiatives What drives income and balance sheet requirements? What are the investment opportunities? Are there financial re-engineering needs? What are the critical measures and milestones?
  15. Value Creation Thought Framework What do customers care about? What issues do they focus on? What are key business compass issues? What will be important to them? What value do they rely on to win? Exercise One In your group, pick a sample of two different clients that typically require assistance from two different agencies represented at your table. Note who they are, what kind of businesses they may be, and what agency you represent. Note, for each, what you believe they care most about using the points on this chart and what their needs are. Brainstorm within the group for each client chosen. Pick spokespersons to cover with the rest of us. THEM
  16. Exercise One 15 minutes for discussion
  17. Know How to Matter More Assess and understand client issues Know how to prioritize for maximum benefit Evaluate your value (impact) to the client
  18. Third Box Thinking™ Your Client’s Customer Your Agency The Client What do you have that is relevant? What does the client care about? What does your client’s customer care about? Bring? Care About? Seek? Value Proposition Value Creation
  19. Client Issues Your Agency The Client Their Customers Competition Suppliers Substitutes Industry / Geographic / Political Barriers Customers How do we create the Superior Customer Experience? Raving fans Loyalty Differentiation Premium pricing
  20. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER
  21. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER What do they care about?
  22. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER What do they want for themselves? What do they care about?
  23. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER What do they want for themselves? What do they care about? What do you have that is relevant?
  24. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER What do they want for themselves? What do they care about? What do you have that is relevant?
  25. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER What do they want for themselves? What do they care about? What do you have that is relevant?
  26. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  27. Third Box ThinkingTMCNN-Delta Air Lines CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  28. Third Box ThinkingTMCNN-Delta Air Lines Media Buyer CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  29. Third Box ThinkingTMCNN-Delta Air Lines Media Buyer Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  30. Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  31. Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  32. Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  33. Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  34. Business Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  35. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign What do they want for themselves? What do they care about? What do you have that is relevant?
  36. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant?
  37. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff
  38. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? Brand Image On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff
  39. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? Brand Image On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff
  40. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? Brand Image On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff Reduce balance FF Points Reduce financial liability Strengthen brand loyalty with high volume business travelers Differentiate FF Program Better leverage partner relationships - Disney
  41. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? Brand Image On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff Programming / Price Braves Hawks WTBS CNN-X TNT TCM MGM Movies HB Cartoons Cartoon Network Video Production Facilities Reduce balance FF Points Reduce financial liability Strengthen brand loyalty with high volume business travelers Differentiate FF Program Better leverage partner relationships - Disney
  42. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? Brand Image On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff Programming / Price Braves Hawks WTBS CNN-X TNT TCM MGM Movies HB Cartoons Cartoon Network Video Production Facilities Reduce balance FF Points Reduce financial liability Strengthen brand loyalty with high volume business travelers Differentiate FF Program Better leverage partner relationships - Disney
  43. Business Leisure Third Box ThinkingTMCNN-Delta Air Lines Media Buyer $50K/spot $49K/spot $48K/spot $47K/spot Price Viewership / Reach Programs CUSTOMER’S CUSTOMER YOU CUSTOMER $6M TV Campaign Business What do they want for themselves? What do they care about? What do you have that is relevant? Brand Image On-time depart/arrive Routes Schedules/frequency Frequent Flyer Programs Up-grades Early entry onto flights Safety Price Food Ease of making reservations Courteous staff Programming / Price Braves Hawks WTBS CNN-X TNT TCM MGM Movies HB Cartoons Cartoon Network Video Production Facilities Reduce balance FF Points Reduce financial liability Strengthen brand loyalty with high volume business travelers Differentiate FF Program Better leverage partner relationships - Disney
  44. Third Box Thinking™ Exercise Two – Part One Your Agency The Client Their Customers Using the same clients as before (unless your group wants to substitute new ones) Note what their customers need, want, care about, and expect from YOUR client under the “third box” Note what YOUR client wants in terms of what is important to them in serving THEIR clients under the “second box ” Don’t complete the “Agency Box”
  45. Exercise Two 15 minutes for discussion USG Agency Client Client’s Customers 2 What do they want in terms of serving THEIR customers? 1 What do they need / want / care about?
  46. The Total Value-Based Offer Value Thought Creation Framework Offer Enablers Solution Sets Customer Business Needs External Sources Other Suppliers Partnerships Strategic Alliances Internal Sources Company–Wide Organization Strengths Cross–Functional Solutions Your Standard Products & Services
  47. Value Creation Enablers Value Thought Creation Framework Key Customer Value Drivers Your Total Value Capability Products Services Offer Enablers Agency Strengths Agency Assets Partnerships/Relationships
  48. Potential Sources of Value Beyond the Service Training (Product, Application, Sales, Quality) Risk Sharing Options Market Intelligence Leverageable Relationships Third Party, Ventures, Political, Regulatory, Executive Intellectual Property Market Data, Process Expertise, Reports, Studies, Industry Trends, Research, Best Practices, Etc.
  49. Exercise Two – Part Two: Complete Agency Box USG Agency Client Client’s Customers 2 What do they want in terms of serving THEIR customers? 1 What do they need / want / care about?
  50. Third Box Thinking™ Exercise Two – Part Two Your Agency The Client Their Customers Complete the “Agency Box” with your Offer Enablers
  51. Value Creation Thought Framework Value Thought Creation Framework US FIT PROOF THEM What do customers care about? What issues do they focus on? What will be important to them? What value do they rely on to win? What do you have to offer? How does what you have impact what they care about? How do you articulate this? Prove it !!!
  52. Offer Enabler Development Exercise Three Same Small Teams/ Same Clients Describe Agency Offer Enablers / Value Capabilities Include Agency Capabilities and Those Potential Enablers Outside the Agency Use Business Issues and Initiatives Worksheet to complete exercise
  53. Business Issues and Initiatives Worksheet Same Small Teams / Same Clients Describe Agency Offer Enablers / Value Capabilities Include Agency Capabilities and Those Potential Enablers Outside the Agency Be Granular and Descriptive About Each FIT
  54. Components of a Value Statement US FIT PROOF THEM Our understanding of their business issues/needs/ concerns What we do and how we operate How we think what we do can make a difference for them How we’ve done it for others Compelling articulation of the Value Statement is essential for client “buy-in” and business dialogue
  55. Value Statements for a Demographic of One Transcend the Business Silos Be a Storyteller of Value Relevance Test: Who? So What? How Much?
  56. Articulating the Value Statement: The Relevance Test
  57. Value Statement Exercise Four Same small teams/ same clients Build the components of a Value Statement
  58. Understanding the Client The problem defined is the problem solved The opportunity found is the opportunity leveraged
  59. Understanding the Client Focus On/Think About Why this client? What is the Real need – what really needs to get fixed, changed, known? Why us?Relationships, Connections, and Networks – what other agencies could help? Why now? What is the VALUE of potential business impact?
  60. Summit Group Tools for Knowing Your Customer and Creating Value
  61. Creating Business Value Remember: “Why Them? Why Us? Why Now?”
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