A new and effective approach that identifies and documents current GAPs that highlight and strengthen the business case for action. A new great advantage for you and the customer.
You know it from yourself. In a certain area, you are at a certain level today, but feel you should be in a better place. This feeling is shared with your customers and prospects as well. They also know they could do better in a number of areas, probably much much better. The big problem for you is to identify where the big GAPs are with the customer, where there is consensus, and where there is not consensus among the customer’s stakeholders. Few companies can answer this today. You probably also do not have a repeatable concept that involves all relevant stakeholders at the customer, and form a solid data foundation that identifies GAPs, the size and the degree of consensus. That’s exactly what the GAP Radar can do.
GAP Radar can involve all the stakeholders you want and the departments you want involved, regardless of whether it is 1 or 5 departments, 5 or 100 stakeholders / employees. GAP Radar consolidates data and documents where the customer’s largest GAPs are, where there is the greatest support in the organization for improvement efforts, and where there are clear disagreements. In addition, through our “responsive evaluation” technology, you get a lot of good explanatory and in-depth comments as well as ideas for what the stakeholders / employees think could / should be done.
1. GAP Radar strengthens both new business, retention / cx and delivery
When the GAP Radar is a strategic concept for InsightsRadar, it is because once our customer has chosen the GAP approach, our customer has several areas of application with great synergies. The three core areas of GAP Radar strengths are:
- New Business
- Customer Retention / CX
On top of this, the GAP Radar creates a uniform framework that is easy to follow and understand for everyone, whether it is new business, retention, upselling or delivery. At the same time, you are realizing a new so-called Sales Capability. A uniform framework for “best practice” that makes our customers better, more efficient and ensures better results.
Briefly what is the GAP Radar / Analysis?
The GAP Radar helps you discuss and clarify the difference (GAP) between a “company’s current situation” and the “desired situation” in a particular focus area. The big benefit of the GAP analysis is that your customer or lead is motivated by the measurement to make some decisions about which gaps and untapped potentials to focus on and in what order. The GAP analysis is precisely here an excellent prioritization basis that helps everyone involved to clarify where time and resources should be invested to achieve the desired result.
The value of InsightsRadar’s GAP analysis is high because the measurement is carried out on one to several groups in the customer’s organization, e.g. the management team and several selected employee groups. There is a high and active involvement of the employees, the analysis is easy to carry out, takes very little time for everyone involved and the reports are generated automatically.
2. Three options with GAP Radar that raises your level, whether the goal is new business, customer satisfaction or better deliveries
Even a 5% increase in customer retention can lead to an increase in profits between 25-95%. – Bain & Company, Harvard Business School
As much as 53% of customer loyalty can be traced back to the experience customers have with salespeople and customer managers – Gartner
From 0.7 to 2.0 at Customer Retention & More Business / upselling
Our GAP Analysis was developed in collaboration with a customer with approx. 100 existing customers, and 6 CXs (customer managers). The CXs’ focus and time was primarily spent on helping with product understanding, setups, training, “fire fighting”, status meetings, etc. The CXs did not spend enough time helping the customer find untapped potentials and realize these. The manager and the CXs were fully aware that some of the customers were not satisfied, and referred to these as 0.7 customers. Another challenge for our customer was that the CX’s dialogue primarily occurred with few contact persons at the customer, and the involvement of the broad organization was not present.
Desire and goal are clear. To realize the potentials that exist in the customers’ organizations, strengthen the customer experience and thereby pave the way for increased additional sales. With GAP Radar, our customer can today offer relevant innovation that all customers have accepted. The CXs have been given a new and stronger concept to lean on, which is repeated according to the same formula every time. From the customers, there has been participation from 5 to 75 participants. The relationships in the customers’ organizations have multiplied. Today, our customer appears far more proactive, professional, and can, with a much stronger data foundation, challenge and raise customers’ ROI. There are no 0.7 customers today, and more of the desired 2.0 customers.
Salespeople who come up with new relevant insights, new ideas and perspectives win 3X more often than companies in second place
We found that buyers were three times more loyal to sellers who proactively brought opportunities to their attention. Educating buyers not only shares the seller’s expertise, but also demonstrates the seller’s willingness to collaborate with the buyer. In fact, that’s the second type of insight selling.
– Rain Group
Stronger New Business with new thinking, insights & GAPs
In a constantly changing world, companies and their working methods must be dynamic. Everything is in motion, nothing is constant, and at this pace you need to adapt continuously and work more intelligently. Customers are more critical than before:
- They are already 60% in the buying process before they want to talk to potential suppliers
- They spend only 17% of their “buying time” talking to potential suppliers
- As many as 60% of buyers do not trust the sales profession
The sellers are also experiencing major changes:
- 80% of the sales reps experience that the number of stakeholders are increasing (on average 10.2 stakeholders)
- The probability of a purchase decreases by over 50% when there are 5 stakeholders
- The decision maker’s most important criteria is the support of his stakeholder group
This increased complexity requires new thinking, stronger and well-thought-out concepts that help salespeople deal with the new challenges, ensure progress and create consensus.
With the GAP Radar, you can offer your prospect a new insight they do not have today. New knowledge about where the organization in the specific focus area believes there are specific GAPs. You will also be able to document where there is consensus among the employees and where there is no consensus. This insight is very valuable for a prospect, we have customers today who sell the GAP Analysis to their customers / prospects, and we have customers who use the GAP Analysis to strengthen their sales process, at no cost to their prospects and customers. In new business, the GAP Radar will help you appear dynamic, an innovator and more relevant because you bring new insights to the prospect. You will be better equipped to challenge and advise your prospects. Overall, it positions you stronger, the customer’s trust in you will be strengthened and you will be stronger in winning more and better orders.
70% of organizations have had at least one project failure in the previous 12 months, 50% of respondents also indicated that their project did not consistently achieve what they aimed for.
Up to 75% of the project participants lack confidence that the project will succeed before the project has started.
Delivery with strengthened stakeholder involvement
Most of us have experienced a project fail completely or in part. There are many things in a project that can go wrong and be the reason to disappoint the customer.
The GAP Radar is unique in Delivery purposes, because it creates a very broad involvement in the customer’s organization and a high level of engagement. The GAP Radar provides new insights from employees, finds the critical areas that can go wrong and ensures focus on these critical areas, ie. where the organization scores they are low, where there is consensus on great potentials, and where there are no consensus within the organization. With this knowledge, your delivery gets the best possible starting point. In addition, you can continuously run the Radar in the project again, with the aim of documenting whether the customer’s stakeholders / employees are experiencing progress. If there should be a decline in some areas, it will also be documented and supplemented with comments and suggestions from the customers organization. With the GAP Radar, you will always be one step ahead, capturing potential risks faster through an active and intelligent involvement of the organization.
3. InsightsRadar Concept & Screenshots
Below is a case “SystemTech”, with 5 stakeholders from different departments. Each has completed a SalesRadar that measures how good the organization is at working with insights into sales. The stakeholder analysis focuses on A) Where are we today and B) What is our potential. The purpose is to gain insight into how much untapped potential the organization sees itself. On which GAPs / Potentials there is a high consensus and where there is no consensus.
Here’s how to get started
It’s easy and straightforward to get started.
- You select the area or areas you want to focus on. For example, for Devoteam it was i.a. Digital Maturity, Sustainability and Data
- A GAP Radar is created on each of the areas
- Then you are ready and can bring completely new insights, sales and buying experiences
The price is a start-up and then a monthly license. You can run the stakeholder analyzes yourself, or you can get us to handle these. It’s easy to get started and inexpensive. We dare say that the entire investment has been repaid within max. 1 year, and you will probably get a very large ROI just like our other customers. Stakeholder Management is a crucial factor in sales, both as a door opener, differentiator but also in the entire building of preferences and ensuring a better customer experience and conversion rate.
See relevant cases HERE