Top 5 Client Pain Points

Whilst all of my clients have unique needs, most of them have a few things in common; a lack of time, lack of resource or a knowledge or expertise gap - all potentially big obstacles in delivering key projects and initiatives and a source of frustration or pain.

"lack of time, lack of resource or a knowledge or expertise gap - all potentially big obstacles in delivering key projects and initiatives and a source of frustration or pain"

Taking a step back over the past 14 months, I have also observed a number of key areas that repeatedly come up. Outlined below are the top 5 “pain points” from my clients and some of the things we work on together to better understand and ultimately address them.

PURCHASING & SOURCING REVIEW - WHERE CAN I IMPROVE?

My approach here generally starts with spend analytics to determine any issues or opportunities within the existing supply chain.

Next up is an analysis of any supplier trading agreements, also reviewing any contracts or service level agreements (SLAs).

I then like to assess the approach to supplier management, any meeting cadence and whether a contact strategy is in place.

Finally I complete a systems and process walk through with an emphasis on sharing best practice and prioritising any improvement recommendations.

PRODUCT RANGE DEEP DIVE - HOW ARE WE PERFORMING?

This pain point relates to an external, independent benchmarking of existing product categories and range architecture, often with a sales and profit deep dive.

This stage will usually identify a number of opportunities or areas for a range rewrite or even a complete removal, as well as potential new categories which fit the strategic intent of the business.

Finally we’ll take a look at competitor and market analysis and look to bring everything back together with clear process development for future ways of working.

CUSTOMER & MARKET INSIGHTS - HOW DO WE SHAPE UP?

I often get asked to help my clients either benchmark their performance or to help them better understand their customers and markets.

This involves a detailed view of macro and micro trends, product category sizing and share benchmarking. The process leads to a list of risks and opportunities being identified and prioritised, with addressable product gaps explored and validated with commercials and customer insights.

SALES & PROPOSITION DEVELOPMENT - WHERE CAN WE GROW PROFITABLY?

One of the most exciting pain points I get to work on is sales development and growth, starting with proposition development.

This area explores new product opportunities, new categories and new target customer groups, with costs, sales and profit assessments presented.

Also covered are improvements and/or enhancements necessary within the existing supply chain to ensure that customers are serviced in the best way to meet their needs.

BRAND AUDIT - HOW DO WE SHOW UP VERSUS OUR COMPETITION?

The final area that features in my top 5 client pain points relates to brand positioning, either in branch or store or in the online space.

The audit involves performance testing against competitors and across existing customers, with key opportunities identified and prioritised.

I also take a look at internal controls, measurements and standards and look to agree on a consistent set of standard moving forwards, in areas such as return on investment and customer marketing plans.

So that's it! A quick fire review of the top 5 client pain points I am seeing across the building industry today and some thoughts around how I work with my clients to better understand and address them.

Thanks for reading and I hope you found this article useful.

For more information about K Wright Consultancy visit www.kwrightconsultancy.co.uk or contact us via email at [email protected].

About K Wright Consultancy: we help business owners, leaders, entrepreneurs and investors within the UK building materials sector to develop personalised purchasing and category management solutions, without adding undue complexity or cost, so that they can fuel their profitability and growth even if they have limited time, knowledge or expertise today.