What are the best tools and practices for managing relationships across multiple channels and platforms?

1 Relationship Lifecycle and Maturity Model

The relationship lifecycle and maturity model is a framework that describes the stages and levels of a business relationship, from identification to dissolution. It helps BRMs to assess the current state and potential of their relationships, and to plan and execute strategies to improve them. The model consists of four stages: forming, evolving, sustaining, and transitioning. Each stage has four levels of maturity: ad hoc, order taker, service provider, and strategic partner.

2 Forming Stage

The forming stage of a business relationship is the initial phase, where the BRM identifies and engages with potential or new stakeholders. The goal is to build trust, rapport, and mutual understanding. To achieve this, it’s best to use multiple channels and platforms to reach out and connect with stakeholders, such as email, phone, social media, webinars, or events. A CRM (customer relationship management) system can also be used to track and manage contacts, interactions, and opportunities. Additionally, a stakeholder analysis tool can be used to identify the needs, expectations, and influence of each stakeholder group. And lastly, a value proposition tool can be utilized to articulate the benefits and outcomes of the relationship for each stakeholder.

3 Evolving Stage

The evolving stage is the phase where the BRM and the stakeholder collaborate and co-create value. The goal is to deliver solutions that meet the stakeholder's needs and objectives, which can be achieved by using a communication plan to define the frequency, mode, and purpose of communication with each stakeholder. Additionally, a project management tool can be utilized to plan, execute, and monitor the progress and performance of the projects or initiatives. Furthermore, a feedback tool can be used to collect and analyze stakeholder satisfaction, feedback, and suggestions. Lastly, a value measurement tool can be used to quantify and communicate the value delivered by the projects or initiatives.

4 Sustaining Stage

The sustaining stage is the phase where the BRM and stakeholder maintain and optimize the value of the relationship. The goal is to ensure the continuity, quality, and improvement of services and solutions. For this stage, it is best to utilize a service level agreement (SLA) to define the scope, standards, and expectations of the services and solutions. Additionally, a service catalog should be used to document and communicate available services and solutions. A service management tool should be employed to manage the delivery, support, and enhancement of services and solutions. Lastly, a relationship review tool should be utilized to evaluate and report on the health and maturity of the relationship.

5 Transitioning Stage

The transitioning stage is the phase where the BRM and the stakeholder end or change the relationship. To ensure a smooth and respectful transition, as well as capture the lessons learned, it is recommended to use a transition plan to outline the steps, roles, and responsibilities for the process. Additionally, a knowledge transfer tool should be used to share and document relevant information, data, and best practices. To confirm completion and closure of the relationship, a relationship closure tool should be utilized. Finally, a relationship audit tool should be used to identify strengths, weaknesses, opportunities, and threats of the relationship while providing recommendations for future relationships.