sell more now with relationship strategies

Customer Value. Right. Now. 1

Relationship Strategies Will Help You Sell More Now.

(You’re already spending the money.)


What’s going on?


You’ve done all you can with price and product.


With price and product optimized

What is your path to success?


The customer relationship is all

that’s left.

But do we know how to define it?


Let’s define customer relationship.


The definition of customer relationship is

a bit of a black box.

We can define the process of developing

relationships.


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


This makes sense to me.

I want to do this.


Hold on a second.

Relationships are for the long-term. What’s the short-term payoff?


The relationship process does get short-term results.


Cases


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.


“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.”


Your Company


  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


Your Customer


 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


Your Company


 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


Your Customer


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



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”


  Importance of Agenda Items   Screening   Differential Diagnosis   Treatment Goals   Managing Co-morbidities   Other

 Attendance at the National Conference

 Requests for additional information/materials


Your Customer


 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


Your Company


 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


Your Customer


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.


  Invitation to receive timely insights and articles sent from Financial Advisor

 Advisor follows-up with a call  Deliver a helpful, responsive

experience


Your Company

Preferences

Needs and Interests

Objections

Competitive Relationships


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.


Your Company


 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


Your Customer


 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



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



Your Company


 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


Your Customer


How can you apply the relationship process at your company to sell more now?


Relationship strategy: delivers a repeatable and scalable process that leverages relationship (rather than price and product) to sell more now.



Your Company




Your Customer

Your Company

Your Customer

Four key elements in the relationship process.

How do you make this repeatable and scalable?


Create value.

Be helpful and responsive.

Integrate investments in existing activities.

support

sales

marketing


Collect feedback.

Uncover the key data needs, preferences, and other essential

feedback.


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?


Six things you can do right now

(All testable. All with existing budgets.)


Thank your customer and ask for feedback. Show them you

listened.

You will sell more now.


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.



Use your administrative contact (e.g. a statement mailing) to collect

actionable feedback.



Present your customers with a “no-strings-attached” value

program.



Give your customers access to experts who can help them grow

their business.



Have every salesperson ask two key questions in their next sales call. Take action on what they

hear.


3 Customer Value Program

1 [email protected] 416.951.3873

Thank You.

2 www.raybec.com

sell more now with relationship strategies

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