Stakeholder Management

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Everyone in sales knows this experience. You have a good dialogue with the right person, and then 3, 5, 8, 12 new people are suddenly involved, from that moment the sales process becomes much more complicated and unmanageable. The vast majority see it as a bad sign when multiple stakeholders are involved, this is actually positive and indicates progress in your sales process. Stakeholder Management has gone from being an easily affordable task targeted at a few decision makers, to today probably being the biggest challenge in B2B sales, due to an increasing number of stakeholders. Lack of consensus in the Stakeholder Group is the primary reason for sales dragging out, sales size being reduced or ending in no-decision.

Executive Summary

InsightsRadar solves the growing challenge in B2B sales in handling more stakeholders in new business but also in retention / upselling, and ind deliveries. Group decisions are more than 50% complicated for customers and they need help. In addition, you also have to deal with the fact that the decision maker’s most important criteria is “to get support from the stakeholder group”, if the stakeholder group is not in consensus, the decision will be pushed, you get a reduced order or nothing at all.

InsightsRadar contributes with:

  • You can carry out measurements in your focus area in the customer’s organization, e.g. on the management team, stakeholder groups and other influencers.
  • Our customers have run these measurements on anything between 5 – 70 participants. The result is new insights that the customer does not have today. It puts you in a stronger position than ever before in terms of facilitating a stronger dialogue, advising and challenging the customer.
  • You will be able to present:
    • Where the customer’s own organization experiences weaknesses and sees untapped potentials
    • In which areas there is consensus about untapped potentials and in which areas there is no consensus
    • Concrete reflections from the customer’s own employees with answers to why the customer has challenges, ideas and solution proposals

The result for your organization is an increased focus, efficiency, momentum, fewer “Stalled” leads and opportunities. At the same time, you position and differentiate yourself significantly in relation to the competitors, you take on the role that the new customer 2.0 demands. You act as a trusted advisor should do, and customers reward you with more time, preferences and purchases. The end result is more closed customers, better customer experiences, increased retention and additional sales.

You achieve increased sales efficiency, shorter sales time and fewer opportunities that drag out and are not closed. At the same time, you position and differentiate yourself significantly in relation to the competitors, you take on the role that the new customer type 2.0 demands. You act as a trusted advisor, prospects and customers will reward you with more time, preferences and purchases. The end result is more closed customers, better customer experiences, increased retention and a stronger foundation for additional sales.

CONTINUE BELOW and read more about Stakeholder Research, Devoteam Case and our Stakeholder concept.

1. Why is Stakeholder Management Top of Mind

Many sales and projects in both the private and public sectors fail due to lack of and too weak stakeholder management. If the stakeholders’ support and contributions are not present or strong enough, the sale, project or goal is often never realized. Having the power to make the decision or cut through and implement the purchase and the changes is not in itself enough if these are to last and create value in the long run. AND mapping stakeholders today is not managing stakeholders, and is not going to create involvement, engagement and consensus. 

Stakeholder facts & trends that require action 

  1. 80% of sellers are experiencing an increasing number of stakeholders
  2. When you reach just 6 stakeholders, the probability of a sale drops to 31%
  3. 75% of salespeople experience they face different functions, roles & priorities and often different locations
  4. In a dysfunctional stakeholder group, they are 50% less likely to buy your solution
  5. On average, group decisions are twice as difficult as individual decisions
  6. The decision maker’s most important criteria # 1 is “support from his stakeholder group”. Decision makers have built up a risk aversion, they do not want to take responsibility alone, as solutions have become more complex, more expensive and most of the decision makers have experienced project failures, they do not want to repeat

 

InsightsRadar takes control of the stakeholder challenge with increased involvement

Why is it that more and more stakeholders are getting involved in customer decisions? It’s not for fun or because they have nothing else to do. This is because the complex solutions we have built require this kind of consensus. When a solution or product has to be integrated across the company and involves several different people and sometimes different departments, we can only expect a number of people to have an opinion about it. Your job is to help this reunited stakeholder group and decision makers see the bigger picture, and make them realize what the change can bring in improvements, or what a lack of change will cost the organization. Your task is to provide insights that 1) Involve, 2) Engage and 3) Motivate the stakeholder group to make the change, and thus the purchase.

It is precisely in these areas that InsightsRadar is strongest, and a crucial factor for our customers, as they come up with something new, an insight that their customers do not have today. They get a better dialogue, greater momentum and get all the right people involved. Everything is documented, both weak / strong areas, consensus vs. non-consensus areas. This is a significantly better customer experience that helps our customers convert more sales, ensure a stronger retention.

Read below how InsightsRadar helps Devoteam manage the 4 most important success criteria for effective stakeholder management?

  1. Involve & Engage
  2. Engagement
  3. New Insights
  4. Motivation

2. EXAMPLE: Devoteam GAP Radar on 70 stakeholders

Devoteam is an IT and consulting company that is in 18 countries and has 300 employees in Denmark. Devoteam has built up several Radars in carefully selected focus areas, including Data, Sustainability and Digital Maturity. At Digital Maturity, Devoteam has agreed with a customer’s decision maker that a GAP Analysis of 70 employees must be carried out, divided into 1) Top management 2) Middle managers and 3) Other employees. The result is that Devoteam got 70 stakeholders involved, all of whom have responded to Devoteam’s GAP Radar on Digital Maturity with

  1. Where are we today in the current area
  2. What is our potential

At the same time, a large proportion of stakeholders have engaged in commenting on weak areas. These are in-depth comments about lack of management focus, wrong focus, want new technology, better data handling BUT also more concrete ideas for initiatives that could change / improve a specific problem / area. The early involvement of everyone and the high level of commitment have put Devoteam in a dream position. Better than ever.

New insights and benefits for Devoteam and the customer

  • Where do stakeholders think the company stands weak or strong
  • How big a potential do the stakeholders see in the areas being measured
  • Where does the customer have consensus around today and potentials
  • Where does the customer not have consensus on today and potentials
  • Benchmarking the customer against the market
  • Consolidation and presentation of comments, reflections and ideas

Devoteam will present to the management and the stakeholders completely new insights that they do not have about their own company, there will be more eye openers and completely new opportunities where they can become more efficient and improve. The involvement, the Commitment, the new insights create a stronger motivation. The data comes directly from the customer’s own employees and forms a business case that is difficult to reject.

– Rain Group

CASES

Devoteam focus on Potential GAPs and Stakeholder Consensus CLICK HERE

DXC Eclipse wins more with the GAP Analysis CLICK HERE

3. Side gains from using InsightsRadar in stakeholder management 

Not only does sales have to deal with more stakeholders, which in itself is a big challenge, there are also 3 other megatrends in sales, which become even more difficult, with a growing stakeholder group.

  • 60% of buyers do not trust the sales profession (State of sales)
  • The modern customer Buyer 2.0 spends less time on suppliers. Only 17% of the buying time / buying process is used to meet with potential suppliers (Gartner)
  • Customers have a hard time seeing the difference between the suppliers, of all the unique benefits the suppliers present, customers only see 14% as truly unique (Gartner)

When we write side gains, it’s because the above challenges are addressed with InsightsRadars GAP Radar:

  • There will be an increased trust in you, the stakeholders who were potential opponents will to a greater extent become partners for you
  • The stakeholders’ buying experience will be high, and you will meet their criteria # 1 they want to trade with challenging and professional sales reps
  • Meeting customer expectations gives you more time with the customer. At the same time, it is worth noting that as many as 81% of C-level executives have greater confidence in insight-creating suppliers, and 48% of C-levels state this as a reason for entering into a collaboration
  • You differentiate yourself more and create a much stronger positioning, the customer can now to a greater extent see the difference between you and “the others”

4. InsightsRadar concept and 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:

  1. You select the area or areas you want to focus on. For example, for Devoteam it was i.a. Digital Maturity, Sustainability and Data
  2. A GAP Radar is created on each of the areas
  3. 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.

Get in touch with me, Søren L. Jensen at slj@insightsradar.com or call mob. 3035 8081Lack of consensus in the Stakeholder Group is the primary reason for sales dragging out, sales size being reduced or ending in no-decision.

Alle i salg kender det, du kender det. Man har en god dialog med rette person, og så involveres 3, 5, 8, 12 nye personer, fra det øjeblik bliver det langt mere kompliceret og uoverskueligt. Langt de fleste ser det som et dårligt tegn, når flere stakeholders involveres, det er det ikke, det er positivt, en hensigtserklæring og fremdrift i processen. Stakeholder Management er gået fra at være en let overkommelig opgave målrettet nogle få beslutningstagere, til i dag nok at være den største udfordring i B2B salget, pga. et stigende antal stakeholders. Mangel på konsensus i Stakeholder Gruppen er den primære årsag til at salget trækker ud, salgets størrelse reduceres eller ender i no-decision.

Executive Summary

InsightsRadar løser den voksende udfordring i B2B salget med håndteringen af flere stakeholders i nysalget men også i fastholdelsen/mersalget. Gruppebeslutninger er mere end 50% komplicerede for kunderne, og de har brug for hjælp. Dertil skal I håndtere det faktum, at beslutningstagerens vigtigste kriterie er “at få opbakning fra sin stakeholdergruppe”, hvis stakeholder gruppen ikke er i konsensus skubbes beslutningen, I får en reduceret ordre eller ingenting.

InsightsRadar bidrager med følgende:

  • I kan gennemføre målinger på jeres fokusområde ude i kundens organisation, f.eks. på ledergruppen, stakeholdergrupper og andre influenter.
  • Vores kunder har kørt disse målinger på alt mellem 5 – 70 deltagere. Resultatet er ny indsigt, kunden ikke selv har. Det stiller jer stærkere end nogensinde før ift. at facilitere en stærkere dialog, rådgive og udfordre kunden.
  • I vil kunne præsentere:
    • Hvor kundens egen organisation oplever svagheder og ser uudnyttede potentialer
    • Hvilke områder er der konsensus omkring uudnyttede potentialer, og lokalisere områder områder hvor der ikke er konsensus
    • Mange værdifulde refleksioner fra kundens egne medarbejdere

Resultatet for jeres organisation, er en øget målrettethed, øget effektivitet, øget fremdrift, færre “Stalled” leads og opportunities. Samtidig positionerer og differentierer I jer markant ift. konkurrenterne, I indtager den rolle, som den nye kunde 2.0 efterspørger. I gør det en trusted advisor skal gøre, og kunderne belønner jer med mere tid, præferencer og køb. Slutresultatet er flere lukkede kunder, bedre kundeoplevelser, øget fastholdelse og mersalg.

FORTSÆT HERUNDER og læs mere om Stakeholder Research, Devoteam Case og vores Stakeholder koncept.

1. Hvorfor skal “Stakeholder Hånderingen” være Top of Mind hos jer?

Mange salg og projekter i både den private og offentlige sektor mislykkes på grund af manglende og for svag stakeholder management. Hvis stakeholdernes opbakning og bidrag ikke er til stede eller stærk nok, bliver salget, projektet eller målet ofte aldrig realiseret. Alene det at have magten til at træffe beslutningen eller skære igennem og gennemføre købet og forandringerne, er i sig selv ikke nok, hvis disse skal vare ved og skabe værdi på sigt. OG det at mappe stakeholderne i dag, er ikke styring af stakeholderne, og kommer ikke til at skabe involvering, engagement og konsensus. Uden konsensus får du en “stalled deal”, flere opportunities i din pipeline bliver stalled, kunden forbliver i status quo og I har en lav effektivitet i salget.

Stakeholder facts & trends der kræver handling

  1. 80% af sælgerne oplever et stigende antal stakeholders
  2. Ved 6 stakeholders falder sandsynligheden for et salg helt ned til 31%
  3. 75% af sælgerne oplever de står overfor forskellige funktioner, roller & prioriteter og ofte forskellige lokationer
  4. I en dysfunktionel stakeholder gruppe er det 50% mindre sandsynligt, at de køber jeres løsning
  5. Gruppe beslutninger er i gennemsnit dobbelt så svære som individuelle beslutninger
  6. Beslutningstagerens vigtigste kriterie #1 er “opbakning fra sin stakeholder gruppe”. Beslutningstagerne har opbygget en risikoaversion, de ønsker ikke at tage ansvaret alene, fordi løsningerne er blevet mere komplekse, dyrere og de fleste har projektfiaskoer bag sig, de ikke ønsker at gentage

InsightsRadar tager styring på stakeholder udfordringen med øget involvering

Hvorfor er det, at flere og flere stakeholders involveres i beslutningerne ude hos kunderne? Det er ikke for sjov, eller fordi de ikke har andet at lave. Det er fordi de komplekse løsninger, vi har bygget, kræver denne form for konsensus. Når en løsning eller et produkt skal integreres på tværs i virksomheden og involverer flere forskellige personer og nogle gange forskellige afdelinger, kan vi kun forvente at et antal mennesker vil have en mening om det. Jeres opgave er at hjælpe denne sammenførte stakeholder gruppe og beslutningstagerne med at se det større billede, og få dem til at indse, hvad forandringen kan tilføre af forbedringer, eller hvad en manglende forandring vil koste organisationen. Jeres opgave er at fremskaffe indsigter der 1) Involverer, 2) Engagerer og 3) Motiverer stakeholder gruppen til at foretage forandringen, og dermed købet eller mersalget. Det er netop på disse områder InsightsRadar er aller stærkest, og en afgørende faktor for vores kunder, fordi de kommer med noget nyt, end indsigt deres kunder ikke har selv. De får en bedre dialog, større fremdrift og får involveret alle de rigtige personer, og dokumenteret svage/stærke områder, konsensus vs. ikke-konsensus områder. Alt i alt en markant bedre kundeoplevelse, der hjælper vores kunder med at konvertere flere nysalg, sikre en styrket fastholdelse/mersalg for eksisterende kunder, og i leverancer skabes der markant bedre rammer for at drive projektere mere sikkert i mål.

Læs forneden, hvordan InsightsRadar hjælper Devoteam med håndtering af de 4 vigtigste succeskriterier for en effektiv stakeholder styring?

  1. Involvering
  2. Engagement
  3. Nye indsigter
  4. Motivation

2. EKSEMPEL: Devoteam GAP Radar på 70 stakeholders/medarbejdere

Devoteam er et IT og konsulenthus, der er i 18 lande og har i Danmark 300 medarbejdere. Devoteam har opbygget flere Radars på sine fokusområder, bl.a. Data, Sustainability og Digital Modenhed. På Digital Modenhed har Devoteam aftalt med en kundes beslutningstager, at der skal gennemføres en GAP Analyse på 70 medarbejdere, fordelt på 1) Topledelsen 2) Mellemlederne og 3) Øvrige medarbejdere. Resultatet er at Devoteam fik involveret 70 stakeholders, der alle har svaret på Devoteams GAP Radar på Digital Modenhed med

  1. Hvor er vi i dag på det aktuelle område
  2. Hvad er vores potentiale

Samtidig har en stor del af stakeholderne engageret sig med at afgive kommentarer på svage områder, ligefra manglende ledelsesfokus, forkert fokus, ønsker ny teknologi, bedre data håndtering og flere konkrete ideer til tiltag der kunne ændre/forbedre et bestemt problem/område. Den tidlige involvering af alle, og det høje engagement har stillet Devoteam bedre end nogensinde før.

Nye indsigter og fordele for Devoteam og kunden

  • Hvor mener stakeholderne virksomheden står svagt og stærkt på 25 punkter
  • Hvor stort et potentiale ser stakeholderne på de 25 punkter
  • Hvor har kunden konsensus omkring i dag og potentialer
  • Hvor har kunden ikke konsensus på i dag og potentialer
  • Benchmarking af kunden op imod markedet
  • Konsolidering og præsentation af kommentarer, refleksioner og ideer

Devoteam kommer til overfor ledelsen og stakeholderne at præsentere helt nye indsigter som de ikke selv har omkring deres egen virksomhed, der kommer flere øjenåbnere og helt nye muligheder hvor de kan effektivisere og forbedre sig. Involveringen, Engagementet, de nye indsigter skaber en stærkere motivation. Datagrundlag er baseret på data fra kundens egne medarbejdere og former en business case der er svær at afvise.

– Rain Group

CASES

Devoteam fokus på Potentiale GAPs og Stakeholder Konsensus KLIK HER

DXC Eclipse vinder mere med GAP Analysen KLIK HER

3. Sidegevinster ved brug af InsightsRadar i stakeholder styringen

For at det ikke skulle være nok med, at salg nu også skal håndtere flere stakeholders, som I sig selv er en stor udfordring, er der også 3 andre megatrends i salget, som bliver endnu sværere, med en stigende stakeholder gruppe.

  • 60% af køberne har ikke tillid til salgsprofessionen (State of sales)
  • Den moderne kunde Buyer 2.0 bruger mindre tid på leverandører. Kun 17% af købstiden/købsprocessen bruges til at mødes med potentielle leverandører(Gartner)
  • Kunderne har svært ved at se forskel på leverandørerne, af alle de unikke fordele leverandørerne præsenterer, ser kunderne kun 14% som reelt unikke (Gartner)

Når vi skriver sidegevinster, er det fordi ovenstående udfordringer bliver håndteret med InsightsRadars GAP Radar:

  • Der vil være en øget tillid jer, de stakeholders der var potentielle modstandere vil i højere grad blive partnere
  • Stakeholdernes købsoplevelsen vil være høj, og I indfrier deres kriterie #1 at handle med en udfordrende og professionel sælger
  • Indfrielsen af forventningerne giver jer mere taletid. Samtidig er det her værd at bemærke, at hele 81% af C-level executives har større tillid til indsigtsskabende leverandører, og 48% af C-levels angiver dette som årsag til at indgå samarbejde
  • I differentierer jer og skaber en langt stærkere positionering, kunden kan nu i højere grad se forskel på jer og “de andre”

4. InsightsRadar koncept og skærmbilleder

Nedenstående er en case, hvor 5 stakeholders fra forskellige afdelinger, men samme organisation “SystemTech” har gennemgået en SalesRadar, der måler på hvor god organisationen er til at arbejde med indsigter i salget. Stakeholder analysen har fokus på A) Hvor er vi i dag og B) Hvad er vores potentiale. Formålet er at få indsigt i, hvor store uudnyttede potentialer ser organisationen selv, hvilke er der høj konsensus omkring og hvor er der uenigheder ift. i dag og potentialer.

Sådan kommer I igang

Det er let og ligetil at komme i gang.

  1. Du udvælger det eller de områder, I vil fokusere på. Eksempelvis var det for Devoteam bl.a. Digital Modenhed, Sustainability og Data
  2. Der laves en GAP Radar på hvert af områderne
  3. Herefter er du klar, og kan realisere helt nye indsigter, salgs- og købseoplevelser

Prisen er en opstart og herefter en månedlig licens. I kan selv drive stakeholder analyserne, eller I kan få os til drive dem. Det er let at komme igang og billigt. Vi tør godt sige at hele investeringen er tjent hjem indenfor max. 1 år, og I vil formodentlig få en meget stor ROI ligesom vores andre kunder. Stakeholder Styringen er en afgørende faktor i salget, både som døråbner, differentiator men også i hele opbygningen af præferencer og sikring af en bedre kundeoplevelse.

Tag fat i mig, Søren L. Jensen på slj@insightsradar.com eller ring på mob. 3035 8081oft

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