ghp presentation
TRANSCRIPT
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Increasing Your Surface Area to Your Marketplace
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Branding
What company logos will look like……
when the financial crisis is finally over.
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Entrepreneurship
• One who understands that the outcome is up to them… and wants it that way
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Competitive Advantage
• Positioning Your Firm To Achieve Superior, Long-Term Profitability Regardless of Changes in the Environment
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Wikipedia:
• surface area is the amount of space covering the outside of a three-dimensional (3D) object.
• The surface area is useful because it tells you how much material is required in order to cover the object -- for example, how much paint is needed to paint a table.
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How much “paint” do you need?
• How do you increase the exposure of your business to your target markets?
• How do you create greater touch points to your customers?
• How much does it cost you to land a new customer?
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How Much Does it cost you to Land a new customer?
• Meals• Time• Advertising• Web site• Mail-outs• Commissions• Literature
• Showroom• Travel Expenses• Business Cards• Billboards• These luncheons
• ….Lots More Items
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Advertising Skepticism
• Radio• Television• Web• Print• New Media• Billboards
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What is the Difference ?
•Marketing?
•Sales?
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Communication
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Interesting Statistics and Data Points
Of all internal communication13% pen and paper49% from email29% SMS text10% Internet Instant Messaging
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Interesting Statistics and Data Points
50 Billion emails per day world wide….in 2000, <
12 Billion
Average Company spends $15k paying employees
to read unnecessary e-mail
Many people use 10 words when they could use
3…when communicating
Recent report – workers spend 49 minutes per day
to sort out their in-boxes
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Interesting Statistics and Data Points
2 hours and 10 minutes…amount
people waste each day at work…of
which 1 hour and 38 minutes was due
to communication technologies not
being used to good effect
70% of 15-24 year olds say they could
not live without their mobile phone
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Pet Peeves
How much information do you share?E-mail salutations Voice mail Business cards
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Pet Peeves
Lousy receptionists
Phone mail messages out dated
Lack of knowledge on how to use the phone system
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Differentiation
Valu
e
Value
Strategic Triangle
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The Big ?Who is your Customer?Who is your Competition?
How would you compete against yourself…..and Win?
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If You Ever Sell your Business…
What do Buyers Value Most?
Tangible vs Intangible Assets
Customer List – Who you
Know
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Who Would You Keep?
Who survives when times get tough?
Who would you fire last?
3x pay card
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Suspects
Buckets in the Selling Process
Prospects
Approach
Presentation
Handling Objections
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CRM
• Customer relationship management• From Wikipedia,
– Customer relationship management (CRM) is a term applied to processes implemented by a company to handle its contact with its customers.
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Action Steps to Consider
• The Eight R’s– Revitalization– Retention– Reacquisition– Referrals– Regeneration– Rainmaking– Related Sales– Reputation Building
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Revitalization
• Rejuvenating your value proposition with new services, sharper differentiation and justifiable premium pricing
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Retention• Must hold on to
your high profit customers
• How might you hold on to them longer?
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Reacquisition
• Win back your valuable inactive and lost clients
• Most firms do not have a win-back program – odds are 3:1 versus 8:1 on new clients
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Referrals
• Network with the right people
• Costs a lot less and takes less time to close referred business than a non-referred prospect
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Regeneration
• Rebuild and grow your client base with precision marketing
• Must target and pursue profitable niches and segments where you can become the dominant player or supplier of choice
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Rainmaking
• With customer loyalty decreasing, you need superior rainmaking and strategic account management skills to identify and win large profitable new accounts
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Related Sales
• Up-Sell and Cross-Sell to Increase Customer Share of the Wallet
• The odds of selling to an existing client are better than 1:2….this better opportunity is poorly exploited
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Reputation Building• Brand your business to attract premium business
• A strong brand attracts and retains customers, simplifies buying decisions and differentiates you from competitors.
• A powerful brand also adds anything from 20 % to 300 % on the price premium you can command
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Thank You