HOW TO UNDERSTAND YOUR STAKEHOLDERS IN YOUR SALES VALUE CHAIN?

If you work for and eventually lead a company, understand that companies have multiple stakeholders including employees, customers, business partners and the communities within which they operate. —?Don Tapscott

Many of sales professionals are comfortable in their work space. However, they need to ask questions to themselves “Who are the people who matter to me in my workspace?” “Who is the person I am meeting and how does he fit in?” “Who are the decision makers in the organisation?” “Who do influence to have my work done?”. These questions matter

However, there is not much clarity. Most interact with important people in the set up assuming they are decision makers. At times they are stuck. At times, they are not aware what could be the next step as they assume they have met the right person.

?An understanding of who are the stakeholders, how to segregate them and why knowing them matters will greatly help in the effectiveness of sales professional

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Who are the Stakeholders?

A stakeholder in an organisation is a group of individual or groups that have interest in the organisation and the outcomes of the action. They could be Investors, employees, customers, suppliers, Communities, government, managers and many more

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Sales Distribution Value Chain

A sales distribution values chain is series of activities that the organisation does so the product reaches the final user from the production stage. It includes Sr management, finance, supply chain, sales, marketing, legal, Carrying and Forwarding Agent, Distributors, retailers and the users. The goal of sales distribution value chain is to find a process that sets it apart from the competitors and build value and sell it solutions and services at a profit

Sharing the sales distribution value chain in simple terms

Approach to categorise the stakeholders in the value chain

1.????? In terms of significance – In this approach you will need to identify the stakeholders who are of important in your operations in varying degrees and separate them as primary, secondary and tertiary. The stakeholders will change according to the operation level they are in like state in charge or front line sales team member

?2.????? In terms of their position and interest level. In this approach, you may need to name them in the various section and approach them accordingly.

Why important to know?

Understanding of stakeholders will help sales managers in many ways

·??????? At a larger level, you will be able to understand where the challenge is lying and what could be done

·??????? It helps build political awareness not only of the internal sales function but also to the external environment

·??????? There is awareness that the significance of stakeholders changes at every level and for sometimes for every person in the same level

·??????? They will know whom to talk and what to talk. The interaction will be purposeful

·??????? They will be able to comprehend the dynamics around distribution and operations

·??????? They will be able to create a buy-in of the interventions planned out in his work space

·??????? The customers will be well serviced creating regularity in product availability and purchasing

·??????? Awareness will lead to proper functioning of the entire sales distribution value chain ?

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Some Useful links to understand stakeholders

1. Stakeholder Analysis - PMI
2. Stakeholder Analysis - Forbes
3. What is Stakeholder analysis - Video

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Attention Sales and Marketing Professionals: If you are looking to bring in a transformation in your workspace through innovative approaches and become CERTIFIED in Design Thinking, you could explore. The links are being shared.

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