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CRU Tips and Tricks from meetings - Coggle Diagram
CRU Tips and Tricks from meetings
The trust equation: Trustworthy = (Credibility + Reliability + Intimacy) / Self-orientation
Self-orientation most impactful!
Intimacy more impactful than the rational crieteria.
Trusted advisor Handbook
Insights or knowledge of their business most important
Know the client's organization better even than the Client themselves (between siloed teams)
3rd party statistics to support our outreach,
e.g. IDC report (see screenshots)
Becoming a COACH - encourgang the client to think differently about their world
Highly targetted outreach campaign
Find key contacts (
CEOs of the problem
)
Might need to do some hunting here, as job titles are not v consistent
Do your research and craft the messaging
Connected to relevant statistics
Specific to the account
Why do they need to think differently? What should they be doing?
Nurture campaign!
Sharing of insights from internal
and external
sources
Utilising Marketing and other internal resources for engagement
Weekly process!!!
to build momentum (calls/videos/emails/conferences/etc)
Trusted advisor:
Transformational relationship for both parties
Detailed understanding of customer workflows
Customer has full appreciation of value
Working together to drive market evolution
Product innovation and sustainable growth
More show and tell with analysts, rather than sales
Negotiations:
Chris: Start soft then go hard. Can leverage the top users, or tell analysts to break off regular meeting with top user, to sway procurement internally
Jen: Allow them the illusion of winning, offer them "the best price you could get"
"Management won't sign-off/they review price books regularly"... You are the goodie!
Wearing different hats at different stages of meetings to encourage idea production
Elliot and Brendan
Arrange meetings where possible, context dependent
Prioritise higher spend clients (don't want to lose)
Discuss 1-2 months before renewal month
Ask old AM for warm intro over email
Use excuse of senior mgmnt not signing/reviewing price books regularly for justifying price increase if contract delayed
Feign effort ("let me check that for you", even if not possible)
Need Classic if want CRUSpi now, have to move up from Basic.
Prioritise building relationship first, ahead of any number dropping
Collaborative testimonial/
case-study
OJ
Work out which accounts lapsing --> predict NB needed for high NRR
Prioritise 20 accounts
(will have to be transactional with others)
Get proposals done ASAP.
Brand vs commission (global collaboration encouraged)
80% GRR bad, aiming for 92%, plan that 70% of that 80% GRR WILL come in for forecasting
Look at usage stats
Powerful questions to ask (Qualifying/Learning)
What does our data do for you?
What's the dream?
What's the timeline/implementation date?
What does/doesn't work with other business providers?
Why now?
Tell me more/what does that mean? (breaking through fluff)
Transfer of ownership
If you had this platform, how would you use it?
Ilya: Play dumb, to some extent, people love to talk about themselves
Grahame:
Send idea of costs BEFORE budget
What does too expensive mean?
Trusted advisor - Challenging them to think differently about their world
Coaching
Delay solution stage; prolong discovery stage so that proposal is more relevant, impactful and likely to go through (MEDDIC)
"I believe we can help you with this. Let me take this away. What are your (requirements) etc. ?" >>>> "We have a solution for that, how does this sound?"
Break through the fluff (insightful questions, discovery stage)
Friendly vs Friend
Explicit deadlines: setting client expectations from the get go
being friendly but firm also lends itself to CREDIBILITY (pure chum can undermine credibility)
Make job more fulfilling when customers respect you more
Productivity/good relationship means different things for different people
Speaking to the DM
'From my experience, best to speak with X at this point, else not going to happen'
The best account managers look LONG-TERM (farming cycle)
Sheffield Offsite
Send T&Cs 3-months upfront! Especially financials
Tenacity, timing, analysts, travel, references, champions
CRU growth strategy: protect and grow core business, derive most value from data, grow in adjancies
Compliance
Ask originally IN WRITING how data is being used, so can cite afterwards when challenged
Difficult for clients to change price provider for contracts
Based on competitors --> can't give unfair competitive advantage!
Factual, not emotional (unless necessary)
FT subscription!
Trusted Advisor
Negotiate for a true win-win
LinkedIn:
Positive news
Morning, weekdays
BBC, Reuters
CRU is the only Carbon products company
Use CRUC to access decision-makers!
At the 6 month CEP stage, get senior consultant in for tailored review of market
Access the Doer and the DM (CRUC)
Banks are biggest in DD to go after
MEDDIC
Identifying pain/need: WHY? WHEN?
"How do you want me to follow-up with you?
One question at a time
Challenging vague terms
When is budget cycle? (for product migration)
Strategic Account Management
Trusted advisor status (who, why, how?)
Access C-suite? How will you get there?
CEP (3,6,9)
MEDDIC
Challenging conversations - How to overcome?
Formulate in Account Plan
How to approach pricing:
Case by case
Procurement are measured on how they did on budget AND how they did on discounts
Refer to Customer Interaction/CC usage
Justify why price has changed
If sticky, then warn of price raise at start of year
Let them set budget expectations.
Damo
Look for examples where similar companies have used CRU in company reports (for credibility).