Where does this process come as a priority within your organisation? How well is it resourced? Is the engagement with the Consignee going well? How much visibility is there on the value your own organisation can bring to the outcome of your consignment?
This week’s article presents the operational war room. Mirror Partnering, Minimal Model Validation, Contracting Terms to Optimise Performance, and Parallel Marketing, have all led to this point. A bespoke reporting and analysis mechanism is designed that optimizes automation but prioritizes Consignor reporting requirements.
The reporting process will communicate critical numbers in macro and micro form, deep dives are generally by necessity only, primary focus and concentration is around getting the best numbers going forward. So, what is, or can be, in the platform?
The Platform, AKA Touch Point Optimisation, can include, and is not limited to;
The scoreboard is the tool that drives the most frequent conversations around optimisation. It works to maximise the number of sale opportunities coming in for consideration, and then works to optimise the outcome of those sale opportunities.
The content of the scoreboard is also driven by the various drivers to what constitutes an optimal outcome for the Consignor – time, value, markets, etc. A typical scoreboard can look like the enclosed example and gives a running score across the last six months – or more depending on what the Consignor requires.
All reviews are positive progressive conversations with all stakeholders taking responsibility for optimising the program outcome to the best of their ability and within the contexts they control.
Regularly conversations arise that in the past may have resulted in confrontational situations. These situations are now facilitated and confrontation avoided. Rarely, but where necessary, issues are parked for review by seniors from Consignor and Consignee.
Managing and optimising the relationship and engagement across the program team is fundamental to program optimisation and forms part of the strategizing process.
Within all of this the ability to react fast to all opportunities requires program flexibility, knowledge, and at times fast access to decision makers. The more you have agreed parameters built into the process the less access to decision makers is required and the more instant the ability to close an opportunity. In today’s market it is easy to see the value of this.
All Consignees will work some of this approach some of the time, the extent to which it is worked will define the ROI that is achieved on your asset. How is yours working?
If you have comments or questions, I would love to hear from you. DM me on LinkedIn or bring your thoughts here. Please, share this piece with your network, and if you want to access prior editions, visit the SellUe blog page.
In the next and last article alternatives developing in the market around the subject of consignment will form the basis of the piece.