Strategic Account management padlet by bechem baiye

transaction based selling

bechembaiye2014 — 2024-09-23 10:21:54 UTC

Transaction based selling is the type of selling whereby, the representative contacts the customer, then tactically negotiates to sell a product or service.

An example could be a sales person contacting a customer to check on the performance of his/her air conditioning unit after a recent storm. and during the conversation the sales representative mentions a new sale on AC units that is available in their store that day.After the conversation, the customer may take advantage of this sale to buy an AC unit for their second floor

Relationship based selling

bechembaiye2014 — 2024-09-23 10:28:36 UTC

Relationship based selling is all about trust and human connection. That is, a good relational sales process is a buyer-seller relationship that gets stronger and better with time.

For example, a customer goes to the same salon every month to get her hair done. The staff in the salon already knows the client by name and even know her preferences.

Customer relationship management(CRM)

bechembaiye2014 — 2024-09-23 10:37:35 UTC

These are practices, strategies and technologies that companies use in managing and annalyzing their customer interactions and data throughout the customer lifecycle.

Customer relationship lifecycle

bechembaiye2014 — 2024-09-23 10:57:31 UTC

The customer relationship lifecycle simply has to do with the customer's experience, or what happens long after a prospect makes a purchase.

ERP

bechembaiye2014 — 2024-09-23 11:01:58 UTC

Enterprise Resource Planning (ERP) is a software system that includes all the tools and processes required to run a successful company

ODOO

bechembaiye2014 — 2024-09-23 11:04:10 UTC

Odoo is an ERP system available both in the cloud and on premise made up of different modules.

Account prioritization

bechembaiye2014 — 2024-09-23 11:27:16 UTC

This refers to the strategic process of identifying and prioritizing high value accounts that aligns with your businesss objectives. It involves evaluating various factors to determine which accounts have the highest potential for conversion and long-term value.

Supply chain

bechembaiye2014 — 2024-09-23 18:27:50 UTC

Supply chain is the network of individuals, organizations, resources, activities and technology involved in the creation and sale of a product. An example would be a raw material producer, manufacturer, distributor , retailer and retail customer

Distribution network

bechembaiye2014 — 2024-09-23 18:31:01 UTC

It is an intermediate point to get products from the manufacturer to the end customer, either directly or through a retail network. A distribution network can be seen as the flow of goods from a producer or supplier to an end consumer. The network consists of storage facilities, warehouses, and transportation systems that support the movement of goods until they reach the end consumer.

Customer intimacy

bechembaiye2014 — 2024-09-23 18:38:54 UTC

This is a strategy companies use to get to know their customers so they can meet their needs in thoughtful, personalized ways.

IKEA is a great example of a customer intimacy practice that managed to make dreams come true. When they decided to deepen their customer intimacy and marketing strategy, their primary goal was to find out what their customers in different markets require and make all their stores more local and customized.

Defensive CRM

bechembaiye2014 — 2024-09-23 18:47:07 UTC

Defensive strategy is a marketing tool that helps companies to retain valuable customers that can be taken away by competitors

An example of this is Starbucks, when threatened by the growth of competitors like McDonald's, Starbucks rolled out new products and services to defend its market position

Individual customer knowledge

bechembaiye2014 — 2024-09-23 18:52:44 UTC

It refers to the insights, information, and understanding that a company possesses about its customers. By leveraging customer knowledge, businesses can gain a competitive advantage, deliver personalized experiences, and build lasting relationships with their customers.

if a coffee cup company discovers that most customers prefer the color red, they may stock more red cups when ordering supplies. You can use customer knowledge to make decisions when ordering products, introducing new items and creating sales promotions.

Channel partner

bechembaiye2014 — 2024-09-23 19:02:08 UTC

A channel partner is a company — such as a reseller, service provider, vendor, retailer or agent — that partners with another organization to market or sell their services, products or technologies.

Example of partners can include resellers, service providers, vendors, retailers, agents, consultants, systems integrators,