IMI plc operated globally in oil and gas, automotive, medical systems, building indoor climate control, beverage dispense and merchandising systems. With a rich and long history in engineering the company held a turnover of $4bn. With a vast array of blue chip customers Key Account development had a vital role to play.
They consistently receive excellent feedback from groups of senior key account managers and business leaders who have attended their training and workshops across the world.Global HR Director, Key Account Growth +85%
Seeking significant growth, IMI found opportunities constrained as relationships with customers were at low levels and products considered ‘commodities’. These issues constrained pricing leading to low profit margins. The scoping and implementation of a strategic approach to market and customer development was required.
Whilst working for IMI directly and subsequently as outside consultants the Brightbridge* team supported the CEO and Executive leadership team. We set up a ‘KAM Academy’ to produce market and customer insight. This involved market and customer analysis and communication internally. To ensure the right talent we assessed, up-graded and redeployed account managers. Training and coaching supported aspiring account managers and an Executive Sponsorship programme was initiated. Our team guided the creation of account plans which were presented internally to the Executive Leaders and selectively shared with customers. We also facilitated development workshops with top customers employing creative problem solving and ideation techniques. These proactively identified future opportunities.
In combination with other key strategic thrusts chain these actions contributed to significant growth of sales, profits and share price growth, significantly above sector performance. Sales increased +85%, profits +125% and margins doubled. Higher level relationships with customers and better collaboration also led to an exciting range of new products, enhancing future potential.