The report, “Pursuing Profit: The New Growth Agenda,” offers insights from Deloitte Consulting’s third annual Sales Executive Forum which brought together speakers and guests from more than 30 of the world’s largest companies. Forum participants revealed that growth has re-emerged as the top priority, but emphasized that their growth strategies are tempered by a need to balance aggressive performance with sustainability and control.

John Norkus, principal and leader of Deloitte Consulting’s Revenue Enhancement services, said, “Sales executives quickly pointed out that companies must be careful to distinguish between smart, targeted growth and growth at any cost, or else they run the risk of letting a renewed focus on the top line negatively impact the bottom line.”

Customer-centric growth is not new — but doing it well is. Truly customer-centric companies understand not only what a customer values and, therefore, is willing to buy, but also the value of that customer to the bottom line. A truly customer-centric organizational model dictates that all employees, from administrative staff to C-suite executives, are ultimately responsible to existing and prospective customers. Three key strategies for growth highlighted in the report include: Customer Segmentation offering deeper customer understanding, allowing companies to tailor products, services and messaging to fit their clients’ needs precisely. It also must acknowledge that all customers are not the same. Some have a greater or lesser need for value. Solution-Selling — 100 percent of the SEF attendees said their companies were highly committed to selling solutions - not just products. However, companies still need to focus on their core strengths and fit solution-selling within a balanced business strategy.Managing Strategic Accounts — Special management attention to key accounts was a top concern. The benefits of executive involvement with these accounts include greater account team visibility within the company, increased effort from team members, improved cross-functional collaboration and improved client access.

The report indicates that companies must take specific steps to confirm that these growth strategies are implemented effectively. While the strategies are straightforward, each requires a commitment to certain fundamental principles to achieve the desired results. These include Customer Segmentation- Invest in real customer insight. Targeted programmes attuned to the customer perspective often yield new, useful insights and become more effective.

Take the customer perspective, examining business from the customers’ view point will help identify what they really need - even if it something that is not already offered. Keep it simple, segmentation does not need to be complex to be effective.

Hold people accountable - Assign segment performance to a key team member to better monitor progress and results.

Connect the dots - link “what your company does best” with “customer needs” to articulate clearly important value propositions.

Train the sales force to consult - solution-selling is consultative selling; it’s working with customers to understand their needs and then tailoring a solution.

Simplify the organizational structure: Because the sales force essentially serves as a network of resources to support customer- facing team members, it is essential for salespeople to have the authority to make decisions. Compensate the sales force based on the strategic value of the solutions they sell. Foster a service culture: A service-oriented culture helps transformone-time deals into ongoing customer relationships, which is the key to profitability.

Move up stream: With solution sales generally occurring higher in the customer chain, it is imperative for the sales team to foster strong relationships at all levels.

Managing Strategic Accounts- Provide ongoing executive involvement: According to a keynote speaker at the forum, “Strategic selling cannot be a drive-by effort. Executives need to engage the account team and customer on a regular basis, not just drop in once a year.”

Go deep: Account teams must develop in-depth relationships with customers and completely understand their business strategies and needs.

Choose targets carefully: It takes considerable time, effort and resources to manage a key account effectively; therefore, the long- term value and cost-to-serve should be taken into consideration.

Give teams the authority to succeed: Executive involvement should not rob teams of the power to take effective action.

“Companies are becoming more selective in choosing the customers they serve and focusing their investments against the selected customer portfolio. Investments include developing a deeper understanding of customers’ businesses and providing key executive oversight on strategically important accounts,” says Jonathan Copulsky, Deloitte Consulting principal and leader of the Customer and Marketing Strategy practice. “Fundamental practices like these, when executed exceptionally well, are key to profitable and sustainable growth.”