Nov 10, 2008

Weak Economy? Strengthen your B2B relationships.

This is an interesting video on the importance of building strong relationships in the B2B space. Creating strategic relationships brings mutual benefit to the customer and supplier. In an earlier post I talked about the importance of strategic references. These are strategic relationships you establish with key customers and partners in order to help all parties be successful.

Given the challenges we face with our economy now may be a good time for you to take a look at your customers and suppliers and figure out new ways to work together to weather this economical storm. The video by Traci Entel from Katzenback Partners below may give you some ideas.

Timeshift Track
00:00 to 2:00
* Empathy defined
* Expedia used empathy to think about their relationships with their suppliers
* Empathy is rare in the B2B space with little emphasis on building strategic relationships
* Expedia challenges and what they did to overcome them

2:00 to 4:30
* Expedia decided to become partners with their suppliers
* The importance of philosophy follow through when enacting change
* Involving employees in change discussion helps drive behaviour and institutionalizes change
* Listen and learn

Additional resources:
* Importance of Strategic References, Marketing That Matters
* The "4 R's of Marketing", Marketing That Matters
* Expedia Interactive Case Study, Businessweek

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