In most B2B and B2C companies, we’ve found that 10–15% of customers contribute virtually all reported profits, and one quarter of this group produces the lion’s share of that amount. Management’s most important priority should be using showcase projects to grow and protect these elite customers.
“Showcase Projects” Can Deepen Your Relationships with Profitable Customers
Three key tactics that make these projects successful.
October 05, 2021
Summary.
Showcase projects are arrangements in which a supplier’s dedicated, multi-capability team partners with a customer counterpart team to uncover new opportunities, deepen their relationship, and respond to emerging opportunities and risks. These projects provide opportunities to “learn by doing” on both sides of the joint team and develop an ongoing stream of joint innovations that benefit — and often transform — both companies. The authors present three key success factors for creating successful showcase projects. This process needs to be a permanent capability and a core ongoing company strategy. This is the most certain way to ensure your company’s long-run profit growth and strategic success.
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HBR Learning
Finance Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Finance Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Strengthen your fluency in financial statements.