Expanding Customer Revenue and Relationships
The two main questions we are posing here are:
1. Are we doing everything we can to realise our potential to grow profitably?
We expect if you are reading this you are already doing a lot of things well. The fact is the customer centric model demands we do everything excellently to ensure your customers feel the impact of your unique and valuable commitment to them. And we need to include potential new customers you need to attract to grow the company.
2. For our future growth what customers do we need to engage and how do we do that strategically?
We can teach you how to identify potential new ideal customers and how to approach them. This all becomes part of the overarching commercial strategy built on growth. If we are to apply this customer centric strategy it will be a unique application based on your business goals, geography, customer base, skills, current processes and culture, but built on proven methodologies and approach.
When you have your current and potential ideal customer at the centre of your business you get four big outcomes:
#1. Customer advocacy
To achieve real growth with the customer requires a level of relationship far beyond mere satisfaction. We need to build a level of relationship with the customer who is then willing to advocate us both internally and externally. Because most of the selling of what you’re proposing takes place when you’re not there. And because 80% of customers in business to business commercial relationships are happy to change suppliers. We need to build a level of relationship defined by advocacy. Why do you need a culture of customer advocacy?
#2. Profitable revenue growth
Profitable revenue growth comes hand-in-hand with customer advocacy, and our unrelenting focus on becoming more ideal for ideal customers. We focus our efforts on understanding what an ideal commercial relationship looks like for our customers, and then on delivering that for them. This extra level of understanding, a unique understanding of their needs and their environment, is a level of relationship customers are prepared to pay more for.
#3. Increased shareholder value
As customer relationships become stronger, and the value to the balance sheet is enhanced, so too does the value held by shareholders. This means more equity for internal shareholders or an improved price of sale for external or private equity stakeholders. This increase in value is the direct result of more valuable customer relationships.
#4. Constructive culture
The external customer experience is reflected in the internal culture. We can measure your internal culture and tell you what your customer experience is. We can measure your customer experience and tell you what your internal culture is. So we can’t improve the customer experience without ensuring we have a constructive internal culture built on markers such as achievement orientation, authenticity, and an enduring focus on first-class internal and external relationships
Thriive offers qualitative research to help you understand what an ideal customer relationship is in your context by developing bespoke customer research programs. For your sales team we have unique tools to help you maximise the potential of your sales team through growth mindset, high performer role benchmarking and building a constructive sales culture.