sell more now with relationship strategies
Post on 12-Sep-2014
17 Views
Preview:
DESCRIPTION
TRANSCRIPT
Customer Value. Right. Now. 1
Relationship Strategies Will Help You Sell More Now.
(You’re already spending the money.)
Customer Value. Right. Now. 2
What’s going on?
Customer Value. Right. Now. 3
Customer Value. Right. Now. 4
Customer Value. Right. Now. 5
Customer Value. Right. Now. 6
Customer Value. Right. Now. 7
You’ve done all you can with price and product.
Customer Value. Right. Now. 8
You’ve done all you can with price and product.
Customer Value. Right. Now. 9
With price and product optimized
What is your path to success?
Customer Value. Right. Now. 10
The customer relationship is all
that’s left.
But do we know how to define it?
Customer Value. Right. Now. 11
Let’s define customer relationship.
Customer Value. Right. Now. 12
The definition of customer relationship is
a bit of a black box.
We can define the process of developing
relationships.
Customer Value. Right. Now. 13
Is helpful and responsive.
Your Company
Provides feedback and insight.
Uses customer feedback to create value.
Is more satisfied, loyal and profitable.
Your Customer
Your Company
Your Customer
Customer Value. Right. Now. 14
This makes sense to me.
I want to do this.
Customer Value. Right. Now. 15
Hold on a second.
Relationships are for the long-term. What’s the short-term payoff?
Customer Value. Right. Now. 16
The relationship process does get short-term results.
Customer Value. Right. Now. 17
Cases
Customer Value. Right. Now. 18
Admin Case: Insurance Beneficiary Mailing
Insurance carrier serves the education community Administrative requirement to confirm beneficiary status High cost with little/no tie to sales Opportunity to use relationship process to sell more now.
Customer Value. Right. Now. 19
“Life changes all the time. At Teachers Life we’re passionate about protecting you and your family as your situation changes. Please tell us a bit about yourself so that we can continue to develop products to serve you better.”
Is helpful and responsive.
Your Company
Customer Value. Right. Now. 20
Presence of children (and ages) Home ownership Specific insurance needs:
“Ensuring I have enough Life Insurance to protect my family”
“Insuring my children and grandchildren for life”
“The flexibility of using Life Insurance to protect my mortgage or new home”
“Protecting assets and insuring myself against critical illness”
“Other”
Personalized Microsite
Provides feedback and insight.
Your Customer
Customer Value. Right. Now. 21
Thank the customer Reference their feedback Customer knows we listened Information requests and leads
sent to sales Provide sales with support
material Follow-up scripts Email copy Relevant collateral
Uses customer feedback to create value.
Your Company
Customer Value. Right. Now. 22
Short-term: Generated 15% of annual sales target (from just this one program)
Long-term: Feedback results in • Relationship information for future use • shorter sales cycle • more efficient future spend
Results
Is more satisfied, loyal and profitable.
Your Customer
Customer Value. Right. Now. 23
Marketing Case: Pharmaceutical Advisory Board
Small event for key customers to garner insight and establish strategy for the broader market Broader community (prescribing and non-prescribing) are not engaged in the process Opportunity to use the relationship process for greater impact in the marketplace
Customer Value. Right. Now. 24
Is helpful and responsive.
Your Company
“Janssen-Ortho regularly seeks feedback and insight from leading experts regarding issues most relevant to our brands and the physicians that prescribe them.”
“…The insights you share with us will direct the conversation at the Advisory Board meeting”
Customer Value. Right. Now. 25
Importance of Agenda Items Screening Differential Diagnosis Treatment Goals Managing Co-morbidities Other
Attendance at the National Conference
Requests for additional information/materials
Provides feedback and insight.
Your Customer
Customer Value. Right. Now. 26
Thank responders and send summary of Advisory Board discussion.
Re-engage and share results with non-responders
Offer additional support materials from Medical Information Services team
Responses sent to Sales force as suggested discussion at next meeting
Uses customer feedback to create value.
Your Company
Customer Value. Right. Now. 27
Participation (response) rate: 18% Short-term:
• Enables sales dialogue based on stated attitudes. • Validates segmentation. • Indications of changes in prescribing behaviour.
Long-term: • Opens door to subsequent rounds of feedback-based
communication • Reinforces commitment to supporting physicians
Results
Is more satisfied, loyal and profitable.
Your Customer
Customer Value. Right. Now. 28
Sales Case: Financial Services Prospecting
Business as usual was not working “Product performance” message falls on deaf
ears over time Traditional approach has been for Sales to
cold-call unrelated to other Marketing activity Opportunity to rethink the way we prospect –
use an offer of information to earn the right to a sales conversation.
Customer Value. Right. Now. 29
Invitation to receive timely insights and articles sent from Financial Advisor
Advisor follows-up with a call Deliver a helpful, responsive
experience
Is helpful and responsive.
Your Company
Preferences
Needs and Interests
Objections
Competitive Relationships
Provides feedback and insight.
Your Customer
Thank the prospect Send selected articles of interest over time Earning the right to have a conversation about products and services Provide Sales with support material.
Uses customer feedback to create value.
Your Company
Customer Value. Right. Now. 32
Short-term: Relationship approach yields 160% greater sales (prospect conversion) over control
Long-term: Feedback results in more effective sales and marketing based on: • Stated needs • Uncovered opportunities
Results have held for over four years
Are more satisfied, loyal and profitable.
They
Results
Is more satisfied, loyal and profitable.
Your Customer
Customer Value. Right. Now. 33
Property and Casualty (P&C) insurance carrier They speak with a very high percentage of their
customers for service related issues throughout the year
Service contacts are typically being used to engage in sales efforts
The relationship process can be used to dramatically increase success
Service Case: The Call Center
No Sale
No Feedback
Automated Relationship Sales Program
Issue Resolved
Initiate Dialogue
Collect Feedback
Close The Call
Inbound Call
“Thank you for being our customer. It is very important to us to better understand your needs and preferences so that we can satisfy them more effectively.”
Sale
Customer Value. Right. Now. 35
Provides feedback and insight.
Your Customer
Feedback: What are we doing well? What could we be doing better? Do you intend to renew?
Feedback then combined with historical data: Affinity group Renewal date Tenure Cohort statistics Demographic, geographic
Customer Value. Right. Now. 36
Uses customer feedback to create value.
Your Company
Customer Value. Right. Now. 37
Short-term: • Increase sales more than 5.6% • 20% of all respondents self-identified
for cross-sell Long-term:
• Retention holds over long term The simple act of saying “thank you”
generates more sales now
Are more satisfied, loyal and profitable.
They
Results
Is more satisfied, loyal and profitable.
Your Customer
Customer Value. Right. Now. 38
How can you apply the relationship process at your company to sell more now?
Customer Value. Right. Now. 39
Relationship strategy: delivers a repeatable and scalable process that leverages relationship (rather than price and product) to sell more now.
Customer Value. Right. Now. 40
Is helpful and responsive.
Your Company
Provides feedback and insight.
Uses customer feedback to create value.
Is more satisfied, loyal and profitable.
Your Customer
Your Company
Your Customer
Four key elements in the relationship process.
How do you make this repeatable and scalable?
Customer Value. Right. Now. 41
Create value.
Be helpful and responsive.
Integrate investments in existing activities.
support
sales
marketing
Customer Value. Right. Now. 43
Collect feedback.
Uncover the key data needs, preferences, and other essential
feedback.
Customer Value. Right. Now. 44
Sell more now.
Use insights to enable higher conversion today
and lay the foundation for longer-term success.
Relationship strategies are powerful when applied to each stage of the lifecycle.
Acquisition
Welcome
Up-sell
Cross-sell
Retain Referral
Reactivate
Active Customer Inactive Prospect
Relationship strategies are powerful when applied to each strategic segment.
Why are customers in the segment?
What are the drivers that will change their
behaviour?
Customer Value. Right. Now. 47
Six things you can do right now
(All testable. All with existing budgets.)
Customer Value. Right. Now. 48
Thank your customer and ask for feedback. Show them you
listened.
You will sell more now.
Customer Value. Right. Now. 49
Offer your customers help in making their purchase decision
(even if its not with you).
Give them a calculator, information, workshop or other
tools to guide them.
You will sell more now.
Customer Value. Right. Now. 50
Use your administrative contact (e.g. a statement mailing) to collect
actionable feedback.
You will sell more now.
Customer Value. Right. Now. 51
Present your customers with a “no-strings-attached” value
program.
You will sell more now.
Customer Value. Right. Now. 52
Give your customers access to experts who can help them grow
their business.
You will sell more now.
Customer Value. Right. Now. 53
Have every salesperson ask two key questions in their next sales call. Take action on what they
hear.
You will sell more now.
3 Customer Value Program
1 martin@raybec.com 416.951.3873
Thank You.
2 www.raybec.com
top related