CUSTOMER REFERENCE PROGRAM
The Business Case
AGENDA
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Why develop a CRP ?
Recommended Approach
Budget Required
Quantifiable Benefits
Next Steps
WHY FORM A CUSTOMER ADVISORY BOARD (CAB)?
CustomerReferenceProgram.org research found the following
benefits accrue to organizations that adopt a formal CRP:
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Increase sales executive efficiency by removing duplication in sales reps sourcing
references individually
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Less risk of overusing or underutilizing customer references
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Increased ability to fulfill customer reference requests for all
industries/products/geographies
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Shortened sales cycles through by reducing time from request to fulfillment
WE HAVE SOME MAJOR GAPS THAT NEED FILLING…
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GAP analysis shows sales could be severely impacted by
lack of reference coverage in some key areas:
Product A
Product B
Product C
Healthcare
3
2
3
KEY:
Financial
2
1
4
Numbers represent average # monthly requests
Manufacturing
8
9
6
Consistently able to fulfill requests
Construction
7
4
7
Not always able to find ideal match
Government
4
2
2
Rarely able to fulfill request
Other
2
1
2
<See Coverage Map in Excel>
RECOMMENDED APPROACH
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The CRP’s customers are Sales, Marketing, PR and Analyst Relations
Jeff Smith – CMO is Executive Sponsor
KEY SUCCESS METRIC: Shortened sales cycles through quicker
reference fulfillment
Dave Jenkins, Head of Key Accounts to nominate potential
customers for initial Reference Pool
Legal & Finance to review the “Customer Reference Incentive
Program Agreement”
Deliverables: Case Study, ROI Study, Success Story, Success Slides,
Audio Recording, Speaking Abstracts, Videos/Podcasts, PR Blurbs,
Press Releases, Advertising, Quotes gathered from social media
(Twitter/Facebook)
KEY DATES:
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Sales Training & FAQ’s launched end of Q1
Go Live with CRP Brochure and Customer Press Release in Q2
TOTAL COST OF OWNERSHIP
Process Integration
Importing Data
Contracting & Licensing
Training
Content
Training
Delivery
Program
Adoption
Campaign
Executive
Interviews
Gap Analysis
Program
Design
Process Mapping
Requirements
Gathering & Design
Editing Content
Program Management
Customer
Interviews
Qualification
Recruiting
Project Management
Fulfilling
Acknowledging
Participants
Content
Management
Three Year TCO
$376,905
Management Reporting
<see Excel spreadsheet for detail>
VALUE OF BENEFITS
Key Benefits:
Removing Sales Inefficiency $562,500
Avoiding Revenue-Impacting References Shortages
$1,450,000
TOTAL Annual Benefits = $2,012,500
Return on Investment = %
NEXT STEPS
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We need your commitment to…
FOR ADDITIONAL RESEARCH PLEASE VISIT:
www.CustomerAdvisoryBoard.org