Strategic relationship planning (SRP) is the process of transforming an organization’s most valuable relationships into quantifiable performance, execution, and results. It is designed to help you identify fundamental key market opportunities and the resources you will need to meet these goals, including past strategic relationships and those necessary to achieve success moving forward. The plan enables an individual to achieve business goals and objectives and should be tightly aligned with those of the organization. Contrary to many plans disguised as management oversights, strategic relationship plans are driven by the efforts, analysis, and insights from individual relationship investments. What did you learn from those investments? Would you make them again if given the opportunity?
Revenue is a Lagging Indicator
Here is another challenge to consider: revenue is a lagging indicator. It’s the result of your past sales and marketing efforts. It’s attempting to drive a car while looking in the rearview mirror. Yet, many organizations develop their future plans based on past performances.
Influence is a Leading Indicator
Conversely, influence is a leading indicator. Who do I need to influence? Where are those centers of influence? How can I influence their thinking, perspective, and a logical call to action? These are all forward-looking questions. Now you’re looking through the windshield trying to figure out a logical course of action and how to pick among several possible options.
SRP is intended to be that forward-looking perspective that drives your mind-set, tool set, and road map.
To learn more, read the revised and updated Relationship Economics paperback edition with 40 percent new content, including an all-new chapter 10 on social media and business relationships (Wiley, Feb. 2011).