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Is Your Company Ready to Supply Everything Customers Need? The following article is based on an interview with Brad Hosmer published in the "Executive Report on Customer Retention" a newsletter aimed at senior marketing executives. Is your company ready to supply everything customers need? That sounds like a tall order, yet it has become the basic requirement for business-to-business selling says Brad Hosmer, president, The Beta Consulting Group. "Because of reengineering, today's products and services must often be sold with value-added services that replace functions previously handled by the buying company," he explains. Research conducted by The Beta Consulting Group reveals four areas that the corporate restructuring process has affected: · More customers have established objective rating criteria for evaluating vendors. And, the criteria are company-specific. "They're different for each company," he says. "No two companies seem to have the same system. Each reflects the company's own individual needs as a business." Companies selling to businesses must, therefore, dig for the specific needs that each of their key customers require and tailor sales and service strategies accordingly. · Business customers are relying more on suppliers and vendors to provide value-added services and expertise. Companies are taking a critical look at their internal functions. They've identified those that are not core to their business success. Many of these non-core functions are being eliminated. Now, they're turning to their suppliers and vendors for those functions and expertise. For instance, while many sales reps have been accustomed to discussing just price and delivery with customers and prospects, now many customers want reps to be able to suggest better methods and processes for their business, as well. · Customers want negotiated pricing as opposed to quote request and bid. "Companies' purchasing departments are getting very sophisticated," Hosmer says. "They're tracking the cost of materials, and they're able to figure out for themselves what the cost of something ought to be. The want to work with their selected vendors on fair pricing that works for both parties." · Customers are demanding products and services from vendors that mesh with their own operations. For instance, "companies want ordering procedures that are smoother to administer," he says. "They want suppliers to provide services like just-in-time deliveries, supplier-managed inventories and customized quantities. Besides expanded customer expectations, Hosmer identifies another trend that will impact business-to-business relationships. He calls it "companies on the move." Essentially, companies are splintering their operations into various locations - in many cases - around the world. "Vendors have to be set up to meet customer needs wherever they come up," he says. "Smaller organizations are going to find that to be a challenge." Bradley E. Hosmer, CMC, heads The Beta Consulting Group in Concord, NH, specializing in improved sales, marketing and new business development for generating profitable growth. For further information please contact Mr. Hosmer at Beta Consulting. |
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