Targeting Accounts for Enhanced Financial Performance
“Let’s target some accounts”
New Research indicates that companies who are Great Account Targeters are 47% more effective!
New research indicates companies with a “world class” targeting process are 47 percent more effective in reaching financial goals than those without targeting in place. Yet, many distributors leave the targeting process up to individual sales people.
If you work as (or with) a distributor sales people, you have heard the phrase.
You’ve just taken on a new product line… bingo, somebody says, “Let’s target some accounts.” You find yourself in a sales slump and your manager says, “Why don’t we meet tomorrow and target some accounts.” The VP of your biggest line comes to town and asks, “Who are your targets for this product?”
Target Accounts are akin to the Holy Grail – Everyone searches for it, few can describe it.
Experts tell us 80 percent of our profits come from 20 percent of our accounts. And studies into customer profit contribution show the bottom half of most distributors actually contribute negative profit. Simply stated, these customers cost distributors more money to service than the profits they contribute to the bottom line. Selecting the right kind of prospects helps us stack the deck in our favor—bringing profitable accounts into the fold sooner and more often.
In this presentation, Frank uses his life time of sales experience to talk about how the targeting process can be defined, refined, and improved. This is real world stuff - no fancy bells, whistles or trick ponies. Hurtte shares his thoughts on selecting the right accounts, pointing your sales force toward those accounts and managing the process without hindering the creativity of top sales people.
This presentation is designed for Distributor Executives, Sales Managers, Branch Managers, Marketing Managers and others who direct a sales operation.
- Review of Distributor profit performance
- What kind of customers are we looking for anyway?
- Why all customers are not created equal
Establishing a common vocabulary
- Time and effort savings
- Ability to automate the process
- Ideas for selecting
- Potholes along the road of life
- How they fit into Company Targets
- Creating a plan
- Building a Process
- Measuring along the way
- How they can be used to leverage Company and Salesperson Target activity
- Their value to vendor partners
- How to get vendors involved in the process
- Setting up the discussion
- Questions to test your current position
Discussions for your sales team
Strategies for building strategic advantage
Bio: Frank Hurtte is the Founding Partner of River Heights Consulting. Frank grew up selling in a family oil distribution business. He was on the road selling tires, batteries, and other auto accessories before he had a driver’s license. After earning a Computer Engineering degree in 1977, Frank decided he could not leave the human side of business. He built a 28 year career in industrial distribution. During that time, he built a reputation as the go-to guy for growth. Frank is a nationally known author, consultant and speaker. His latest book, The Distributor Specialist: Customer Champion, Profit Generator, was recently published by the National Association of Wholesaler’s Institute for Distributor Excellence.