If you’re like many of the companies I’ve talked to recently, an Executive Sponsor Program (ESP) maybe worth investigating. Here are the common factors that make an ESP valuable:
· You have over 50% of the revenue in just a few accounts (< 30 accounts)
· You are having customer satisfaction/loyalty/retentions issues
· Your Industry, company or sales force is in transformation
· You are trying to catch up or distance yourself from the competition
A great example of this is one of our clients, a large IT integrated business solutions provider. They meet all four of the criteria. They knew they had to get closer to their most strategic customers to accelerate their business results.
The great news for our client is their Advisory Council was telling them the same thing by requesting that they be even more of a partner through involvement at a “Trusted Advisor” level. Their Advisory Council went on to say that their account teams need to have the capabilities to engage on a business level and discuss business issues, which is the perfect scenario for an Executive Sponsor Program.
The Executive Sponsor Program enables our client to achieve these four common factors and enhance the business level discussions by leveraging the company’s executives to be the Executive Sponsors.
I will discussed “Getting Started: Critical Success Factors to launching and sustaining an Executive Sponsor Program” in my next blog.