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Aligning Business Units During 2010 Planning

by Anu Heda

In the August Industry Analysis Brief, Mike McLaughlin wrote an article about "Staying the Strategic Course". One important message from that article - align goals across business units to improve ROIC.

As part of the Industry Analysis service, I lead discussions each month with subscribers. Each subscribing e-Business organization admitted to having little familiarity with Sales esand goals. If that's the case, building a Web site to support sales is going to be pretty difficult. Here are four simple, no-hard-dollar-cost actions that e-Business teams can take to rectify the issue:

1. Learn the "Sales Goals" - Are they to grow net new advisors? Is 2010 the year to focus on Raymond James? Whatever they are, learn that organization's goals.

2. Ask for an introduction to the "Sales Process" - Most firms use a multi-step, consultative approach that takes a prospective advisor from "unfamiliar with the firm" to "dropping a ticket" (or beyond). Learn the basics of that process.

3. Emphasize Online Tools that Can Aid the Sales Process - In the sales process, there will be periods during which interactivity is more advantageous than person-to-person contact. For instance, if the sales process includes "introducing thought leadership", then many advisors will prefer video, Webinars, online articles, or searchable market commentary over large binders that are sent to their offices.

4. Align some part of the e-Business goals with Sales - Suggest that the e-Business goals overlap with Sales to ensure both organizations move together. If the Sales goal is to grow and net new advisors, then drive resources towards the goal of e-Marketing and netting new Web site registrants.

This can clearly lead to increased operational efficiencies and to improved goal planning.