focus on the customer
TRANSCRIPT
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SIMPLE STRATAGIES TO GROW YOUR BUSINESS
Facilitated by Marc Parham
FOCUS ON THE
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Marc Parham, Radio Show Host, MC/Speaker, Infopreneur
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What are the products and services that I want to sell?
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Who are the
customers that I want to sell to?
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How will I sell my
products and
services?
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Now that I have a
customer, how will I
keep them?
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Now that I have sales and
customers, how do I increase my revenue?
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FOCUS ON THE CUSTOMERS
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GROWTH CUSTOMERBy definition, a “growth customer” is
one who contributes to the expansion objectives of the
company.
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WHO ARE GROWTH CUSTOMERS?
• Base/existing customers• New customers• Customers who, through
their own progress have become larger customers of the company
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Who are my customers?
What is the age range of your target customer?
What is the gender of your target customer?
What is the income level of your target customer?
Where does your target customer live?
Who does your target customer buy from now?
Who are your competitors? How are their prices compared
to yours?
How is their customer service compared to yours?
What do your potential customers think of them?
What is their greatest strength? What is their key weakness? What will your business
specifically do to beat the competition?
Check all of the ways that you plan on selling in your business.
Check all the ways you plan on advertising your business.
List organizations you could join to help you meet people and network?
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CUSTOMER RETENTION STRATEGIES
How do I keep the customers that I have
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CUSTOMER RETENTION STRATEGIES
• Invest in the relationship• Expand product line•Marketing partnerships• Foster customer loyalty• Improve communication
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RECAP RETENTION ACTIVITIES
Understand important factors to keep customersDevelop good customer databaseImplement communication strategies specifically
based on customer retentionDevelop a win/win mindset with customers and
deeply appreciate themDevelop and implement a focused approach to
retain and grow current customers
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CUSTOMER REACTIVATION
STRATEGIESHow do I get back the customers
that I lost
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REACTIVEATION STRATEGIES
• Have a great list of previous customers• Develop a communications strategy to re-
connect to them• Tell them you want them back• Understand why they stopped buying•Make it right if it was wrong• Remind them about your business
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CUSTOMER ACTIVATION STRATEGIES
How do I get new customers
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NEW CUSTOMER ACQUISITION STRATEGIES
Study what was successful for you in the pastDevelop a detailed, ideal customer profileTest new strategies as an experimentDevelop a specific customer target listLook for “best practices” regarding new customer
acquisitionInvestigate industry specific marketing programs
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WHO ARE YOU GOING TO SELL
TO?
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SegmentationB2B (Business to Business) B2C (Business to
Customer) • Industry (SIC/NAICS
code)• Geography/Location• Size – Revenue levels• Size – Employee count• Length of time in
business• Business function or
department• Distribution strategies• Management practices
• Demographics
• Age• Gender• Race/ethnicity• Income• Home Ownership
• Psychographics
• Personality• Attitudes• Lifestyles• Social Tendencies
• Fashion/music tastes
• Shopping preferences
• Hobbies
• Geography
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TWO TYPES OF MOTIVATION
•To move TOWARD something
•To move AWAY from something
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SIX WAYS TO INCREASE
SALES
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Six Ways to Increase Sales
1. Set up a sales incentive program2. Encourage your sales staff to up-sell3. Give your customers the Inside Scoop4. Tier your customers5. Set up a Customer Rewards Program6. Distribute free samples to customers
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Ways to Reduce Customer Fears
•Money back/satisfaction guarantees• Favorable, convenient return policies•Warranties• Quality statements/standards• Sampling programs/free trials• Testimonials• Customer forums•Make contact information very visible
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MORE WAYS TO INCREASE SALES•Use value-added strategies•Be proactive about referrals•Know your competition•Post-purchase follow-up
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Quick Tips / Checklist
• Identify exactly who you are going to sell to• Find multiple ways to segment your customers into
more specific groups• Segment your customer base into existing, previous
and new• Get serious about customer retention• Develop a customer database – keep it up• Develop approaches to reduce customer fears
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HOW TO CONTACT ME
• [email protected]• Use the Have Questions Popup on the
CAPBuilder Network Site• Download my FREE Mobile App• CALL Me 770-634-7231