Winning strategies!!!

If you are a growing CRO, this is what you can do to smell the sweet taste of success faster!

· List companies in market you intend to penetrate and categorize them into primary and secondary accounts. Some clients are strategically significant for business, and hence deserve that extra special treatment-the key accounts. Key (high market share value) accounts will be defined based on profitability and large sales potential.

· Each key account will then go through a client profiling system which will be implemented by the Business Development Team . There will be three critical stages to qualify and implement sales plan for each & every account –Discovery, Planning & Implementation. The following section gives an overview of the procedures that will be followed to ensure revenues flow into the company.

1. Discovery-During this phase, the key account is profiled in the backdrop of the industry drivers and the client’s key products & differentiators are studied; any prior history in dealing with the account and competitive analysis conducted are mapped in this section. The Discovery phase sets the right foundation on which the key account can be approached and build successful business. With a better understanding of competitor’s products and services, CROs can provide appropriate services at more competitive prices.

2. Planning-Once discovery phase provides sufficient evidence of profitability of the account, it is suggested that one can move to the Planning stage. At this juncture, the author suggests that CROs can collate information on identifying key opportunities and setting goals specific to the client. A preliminary opportunity objective is established and important personnel within the organisation mapped to streamline the sales process. With tools such as opportunity analysis and value statement worksheet, the task is broken down further. The sales objective statement defines what each CRO is selling, at what price to be delivered and on a precise deadline. Delivery milestones and long objectives are set accordingly.

3. Implementation- This where it all narrows down to- converting the prospect into a client. An implementation plan is designed to ensure actual sales work begins, bearing in mind all the research done to capture the account and generate revenues. The best tactic is applied to establish value to meet the desired outcome by the due date. The plan is visited periodically to check progress and revaluate if changes are found necessary. The plan is tested by revisiting objectives and realigning with the company's overall business objectives.