BRAND MANAGEMENT - s3. Promise Visibility Promise Delivery Leverage . 11 How clients buy ... Source: Bain customer led diagnostic questionnaire Satmetrix Net Promoter Database 8%

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  • BRAND MANAGEMENT

    Session 5 & 6 Branding Business-to-Business & Professional Services

  • 3 3

    Question 1 Evaluate the management of the Vegemite brand between 2007 & 2009 Question 2 Advise Talbot on a strategy to grow the brand over the next two years (2010 -2011)

  • 4 4

    Branding

    Contrasting approaches to go to market

    Push Pull

    Dir

    ect

    In

    dir

    ect

    Value Added Reseller Incentivisation and Enablement

    Order Taking Minimal integration

    Call Centre

    Box Shifters Trade Promotion Limited Impact

    Demand

    Lead

    Ge

    nre

    ation

  • 5 5

    Four elements of brand management

    Brand Promise

    Visibility

    Promise Delivery

    Leverage

  • 6 6

    Value Risk / Trust

    Rebalancing Economy

    Supplies material & capital

    Equipment

    Outsourcing

    Supply chain

    Professional Services

    Intelligence

    Complexity

  • 7 7

    For sellers its all about competing on service and experience

    Brand Promise

    Visibility

    Promise Delivery

    Leverage

  • 10 10

    If culture is the internal value and belief system that guides and animates an organisations people, then brand is the external manifestation of this system. In other words, culture is the organisations promise to stakeholders and brand is that same promise delivered. Bob Moritz, Chairman and Senior Partner, pwc (US)

    pwc Global Annual Review 2010

    Brand Promise

    Visibility

    Promise Delivery

    Leverage

    file://carstorage/home$/don.osullivan/Video Case Studies/PWC/Robert Moritz PWC.wmv

  • 11 11

    How clients buy

    Top 5 methods buyers are very / somewhat likely to use to initially identify and learn more about professional service providers

    Referrals from colleagues Referrals from other services providers Personal recognition or awareness In-person seminar Presentation at a conference or event

    0% 20% 40% 60% 80%

    79%

    75%

    73%

    66%

    62%

    Source: How Clients Buy, 2009 Benchmark Rain Today

  • John Denton Co-founder of Denton, Corker, Marshall

  • 14 14

    Client Equity (Trust)

    Brand Equity (Reputation)

    New Business Thought leadership / demand generation initiatives

    Broadening addressable market

    Leveraging brand equity

    From activity to client equity Promises kept

    and promoted to client

    Imp

    lem

    en

    tati

    on

    Execution against client expectations & value proposition

    Work Done

    Co-opted marketers & lead generators

    Ad

    vo

    ca

    cy

    Business to Business Brand Development

    Brand Promise

    Visibility

    Promise Delivery

    Leverage

  • 15 15

    100% 80% 60% 40% 20% 0%

    80%

    Firms who believe they provide a superior service

    Source: Bain customer led diagnostic questionnaire & Satmetrix Net Promoter Database

    8% Firms whos clients agree

    Client lens

    89% of companies compete mostly on the basis of customer experience, versus 36% four years ago :Gartner 2016

    Service apparently ubiquitous source of competitive advantage

    Brand Promise

    Visibility

    Promise Delivery

    Leverage

  • 16 16

  • 18 18

    How Australian businesses perform on drivers of trust?

    Capability

    Character

    Ease of doing business

    Adapted from Edelman 2015 Australian Trust Barometer

    How important are each of the following for building trust: 9-point scale. Top wo box extremely / very important

    0 10 20 30 40 50 60

    Proactively address a crisis

    Listen to customer needs

    Have transparent business practices

    Treat employees well

    Have ethical business practices

    Put customers before profits

    Are highly regarded (TMT)

    Are innovators in services and ideas

    We provide high quality servicesImportance

    Performance

  • 19 19

    57% Australian CEOs concerned about the lack of trust in Australian Business

    Up from 40% two years ago

    Source: PWC 19th Global Survey of CEOs

  • 20 20

    The economic Impact of low / high Trust in Australia in 2015

    20

  • 22 22

    Talking brochure

    Features & benefits

    When customer

    assesses options

    Experience

    Listener

    When customer

    understands need

    Product

    Solution

    Capability

    Buyer Selects on

    Go-to-Market

    Point of Engagement

    Trust

    Challenger

    When customer is

    learning

    Engagement

    Brand Promise

    Visibility

    Promise Delivery

    Leverage

  • 23 23

    Most likely outcome when you are selling capability to the risk averse: NO OUTCOME

    Source: CSO Insights Sales Performance Optimization survey

    2008 2012 2013

    Wins 40% 45% 39% - 20%

    Competitive losses 30% 28% 31% - 3%

    No decision 21% 26% 31% + 48%

    Leading reasons for not attaining quota 2015

    Source: 2015 State of Sales Execution - Qvidian

  • 24 24

    Frequency of high performance by approach:

    11 4

    18

    7

    26

    10

    25

    20

    54

    0%

    20%

    40%

    60%

    80%

    100%

    Low complexity High complexity

    25

    Challenger

    Lone wolf

    Hard worker

    Problem solver

    Relationship builder

    Source: CBE Sales Leadership Council 2011

    Frequency of high performance by type

    Low & high complexity environments

  • 25 25

    Clients

    Understanding

    of

    own needs

    Understanding of available capabilities

    Low

    High

    High Low

    LISTEN Need state Knowledge level Consideration set Value drivers CHOICES

    Justify the why pick me Inform re additional features & benefits

    SELL Features and benefits relative to needs

  • 26 26

    Clients

    Understanding

    of

    own needs

    Understanding

    of available capabilities

    Low

    High

    High Low

    LISTEN Need state Knowledge level Consideration set Value drivers

    N E E D S

    Extend the why do any thing The benefits of action The costs of inaction

    CHOICES

    Justify the why pick me Inform re additional features & benefits

    SELL Features and benefits relative to needs

  • 27 27

    Its too late client has specified needs

    Sources: The End of Solutions Sales, HBR & Forrester Research

    Buyers engage much later

    60% - 90% COMPLETE

    Research & Due Diligence Researching solutions Ranking options Benchmarking price

    First Contact Decision

    and selected provider

    Source: Forrester Global Executive Buyer insight: 2012 Base: 418 executive level buyers at global companies of 100 or more employees

    How often do you choose a vendor who has worked with you to turn a vision into a clear path to value?

    Create and deliver on a vision

    Respond to request

    74% 26% Why and how to change Why pick me

  • 28 28

    Qualification process is counter-productive

    80% believe that sellers primarily have their own interests at heart

    64% of senior executives believe that the salesperson doesnt know enough about their buyers business to bring any value to a meeting...

    10% will take a second meeting

    Sources: Forrester What Do Executive Buyers Find Valuable? & Drive Growth With a 21st Century Selling System 2014

  • 29 29

    Qualification process is counter-productive

    Thinking of a typical meeting with a vendor sales team (or person) how would you characterize their agenda in your interactions?

    18%

    They only want to tell me about their

    products and services

    31%

    They listen for a key word or two so they

    can launch into a prepared pitch

    31%

    They are legitimately interested in trying

    to help us understand how their products or

    services would work in our situation

    13%

    They try to understand our

    challenges and offer suggestions (even if they dont sell those

    products and services)

    7%

    They are genuinely interested in

    partnering with us to make sure our

    initiative is successful

    Forrester: 418 executive-level buyers at global companies with 100 or more employees

    Sales perspective Executive perspective

    80% 20%

  • 30 30

    C-level perceptions of sales contracts & value derived from meetings

    Sources: Serius Decisions Research 2014. Forrester Research 2014

    25% Proficient

    Business Knowledge

    88% Proficient

    Product Knowledge

    4x

    1x

    Value from meetings

    4x less likely to get what they value 4x more

  • 31 31

    Experience drives loyalty and referral

    19%

    9%

    9%

    53%

    Loya

    lty

    and

    Ref

    erra

    l

    Company Project delivery Value-to-price Experience & Brand Impact Ratio

  • 32 32

    Satisfaction