find, keep and grow your customer

January 31, 2009

Create a Customer-Centric Culture (Part 2 of 5)

Filed under: customer experience, sales process optimization, marketing strategy, General —

BY STEVEN WINOKUR

The first tactic on how to create a better experience has to do with creating a customer-centric culture.

Step 1 is to shift from a self-focus to a customer-focus. Far too many companies force customers to interact with them in the way that best suits the company, not the customer. Wrong! This demonstrates to customers that they’re not important. Find out how customers want to interact with you and then make the operational changes to best accommodate those desires.

Step 2 is to shift from focusing on product features to customer needs. This is especially prevalent in high-tech companies – don’t build new products or add features just because you can or because YOU think it’s cool. Obsess about fulfilling customer needs, not building a cool new “toy”. Unless you fulfill a need, if you build it, they won’t come.

Step 3 is looking at the customer experience as a company-wide competence, not a function. There shouldn’t be a Customer Experience Department that is solely responsible for the experience. Yes, there should be an executive that “owns” the experience and can direct other departments to change their operations. But, EVERY department has a responsibility to positively impact the customer experience. It’s not just the Customer Support/Service group that has to worry about the experience. This leads directly to the final step.

Step 4 is about reinforcing the customer experience with every interaction. The customer experience begins with their first touch with your company –whether it is a call or a website visit. From that point all the way through purchase, use and billing, the customer has many interactions with your company. Each one provides an excellent opportunity. Remember, every department has a responsibility towards fulfilling the promise of a superior experience.

Make the change to a customer-centric culture won’t happen overnight. But don’t let that stop you. These changes aren’t just about being nice – they’re about generating increased loyalty and driving revenue growth.

Next, we’ll be addressing the second tactic – “Defining, Designing and Measuring”.

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January 26, 2009

It’s The Experience, Stupid (Part 1 of 5)

Filed under: customer experience, Innovation, sales process optimization, branding/differentiation, marketing strategy —

BY STEVEN WINOKUR

I had the pleasure of speaking at the GrowthANSWERS Meet the Expert meeting this month on the topic of customer satisfaction. More specifically, the discussion focused on the concept of the customer experience. We talked about the benefits of focusing on the customer experience as well as why it’s so important. Once everyone understood how it impacts their business, we demonstrated 4 tactics to create a better experience.

We’ll be addressing those 4 thoughts over the next week or so, but for now, let’s take a look at why the experience a customer has with your organization is so important.

Before proceeding, let’s all get on the same page. Defining exactly what the customer experience means can be a challenge in and of itself. I’d like to define it this way:

“The perception of the sum of ALL interactions a customer has with a given provider.”

It’s crucial to notice the use of two words: perception and all. Perception is used because the experience is in the eye of the beholder. The perception has to deal with the actual experience and the expectations that lead up to that experience. All is used because that’s exactly what makes up the customer experience. Every interaction – not just the ones with customer support or during the use of the actual product or service. Every touch influences the perception, either positively or negatively.

Now that we have the definition sorted out, let’s move on.

Creating a better experience for your customers isn’t some altruistic belief that people should be treated nicely. It’s about hard and fast business results. Having a superior experience can lead to increased revenue, greater protection of premium pricing and increased brand loyalty. In fact, studies have shown that the single most important attribute of driving customer loyalty is the customer experience. Not price or some fancy loyalty program. It’s the experience.

With the economy the way it is, customer retention is priority #1 for many firms. And retention is not about slogans or trinkets or loyalty programs. And it’s certainly not about locking customers in contracts or using other tactics to force them to stay.  Maybe it’s time to borrow an old campaign slogan here – “It’s the experience stupid.” That’s how to get them to stay.

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January 16, 2009

Marketing Innovation: The Missing Component Critical to Manufacturing Profit

Filed under: Innovation, marketing strategy —

BY DON RIGBY

The profitability gap between manufacturing companies that compete on the basis of innovative products or processes and firms that compete with a low-price advantage has more than doubled over the past three years. Innovation is the critical component allowing manufacturers to compete more rigorously, profit more substantially and sustain growth in the operations.  This fact has been confirmed by 2 independent research studies conducted at the same time within manufacturing industries in the State of Georgia. 

In a qualitative research study conducted by GrowthANSWERS and Plexus Marketing Group, interviews with manufacturing executives probed current marketing practices, productive marketing tactics and opinions on the most compelling Growth Gaps they must overcome.  A white paper published last month: Beyond Survive, How to Thrive details key findings.  

Simultaneously, Georgia Tech completed the 6th installment (every 3 years since 1994) of The Georgia Manufacturing Survey and also revealed results in Q4 of 2008.  This quantitative study effectively identifies industry trends by measuring advancements in Sustainability, Strategies, Profitability, Outsourcing, R&D, Energy, Productivity and Training.  This study makes the proof positive statement between profitability of manufacturers who complete on innovation versus those who complete on price.

So How do Manufacturers Define Innovation?   
Both studies confirm marketing and sales are top concern of manufacturers, yet their strategies and definition of innovation do not include marketing.  Most manufactures focus on Quality and Price as indicated in priority order:
1. High quality
2. Low price
3. Adapting product to customer needs (customization)
4. Quick delivery
5. Value-added services
6. Innovation, new technology (operations)
Source:  Georgia Manufacturing Survey 2008

Innovation is a 4-Legged Stool.
In production environments, perpetual improvement is common practice and innovation is a driving force behind these incremental gains.

1. Product Innovation–New products or significantly improved products
2. Process Innovation–new or improved practices, technologies or delivery
3. Organizational Innovation–changes in structure, management methods or information exchange systems
4. Marketing Innovation–changes to packaging, demand management, sales methods or distribution channels. 

What happens to the stability of a stool when 1 leg is shorter than the others?
With one exception of working with customers to innovate new products, marketing comes up short.  Purchasing new equipment and working with suppliers are primary innovative strategies among manufacturers.   

The research indicates barriers to innovation are highest for marketing. The factors creating most of the resistance are Qualified Personnel, Funds or Costs, Established Firms’ Dominance. 

Marketing Innovation–the Stabilizing Factor
Here’s what the research from Georgia Tech and GrowthANSWERS reveals:
Fact:  innovation is closely linked to profitability. 
Fact:  marketing innovation is clearly the shortest leg of the stool.
Fact:  manufacturers believe they can compete on quality, price and service.

The stability of any manufacturing enterprise and ability to compete for new and more profitable customers will be exponentially improved with an Innovation Mandate of marketing and sales strategies.  

Marketing innovation drives profitable ROI when business strategy, tactical marketing and sales execution are aligned.  This is the core value of GrowthANSWERS.  Built to innovate with systems to execute, GrowthANSWERS is a membership organization of cross-functional, best-of-breed service providers united to transform emerging manufacturing companies into sustainable enterprises. 

Live Learning Event–January 21st at the Georgian Club. 
Hosted by GrowthANSWERS with keynote speaker John Zegers, Director, Center of Innovation for Manufacturing from Georgia Department of Economic Development, Marketing Innovation for Manufacturers is a positive step toward leveraging greater profits.  This is not your typical presentation that ends with a sales pitch. This is roundtable session enables you to learn collaboratively with your contemporaries, other executives of emerging manufacturing companies.  From the business development experts of GrowthANSWERS, you’ll view your business more objectively and from a different perspective. 

This is not a profit center, but a give-forward initiative of GrowthANSWERS.  Participation is limited to 24.  Cost is $65 and includes lunch. Deadline to register is Friday, January 16th.  Here’s the link for more information and to confirm your participation, Marketing Innovation for Manufacturers. 

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These first two weeks of 2009 have been a period of renewal for the Payton family.

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January 15, 2009

Innovation: Track It Or Trash It

Filed under: Innovation, eMERGE!, marketing strategy —

These first two weeks of 2009 have been a period of renewal for the Payton family. We’ve cleaned out both the garage and the basement, finally let those orphaned socks go, and even reorganized the pantry in anticipation of preparing healthier meals.

We’ve fielded calls from a ½ dozen agencies in search of clothing we no longer need or want, and proudly met their requests with enough to outfit several families.  I’ve made several trips to Goodwill, and pushed Waste Management’s tolerance to the absolute edge on just how much trash they’re willing to pick up from one customer on any given Wednesday.  Everyone here is “toeing the line” as my wife repeatedly instructs . . .

“Find A Place For This (Right Now), Or TRASH it.”

I mention it because:  As I learn more and more from the world’s most innovative organizations, I’m seeing one particular discipline surface over and over.  Without exception, these truly innovative organizations (and the people who lead them) diligently monitor their innovation efforts for ROI.  This pattern is so pervasive and taken so seriously by every executive and expert I’ve spoken with in the last several weeks, that I’m quite comfortable in publishing yet another one of those “Stone Declarations” . . .

Innovation: Track It Or Trash It !

ROI on Innovation consistently outperforms ROI from virtually any other strategy.  In fact, much ROI typically attributed to efforts like quality initiatives, cost-cutting, change projects, mergers & acquisitions, and all those “re’s” (re-branding, re-tooling, restructuring, reengineering, org. redesign, etc.) only shows up in the first place when these efforts are coupled with genuine Innovation.

Conversely, when these efforts fail to produce intended business results (most research indicates this happens well over 70% of the time), it’s usually because they were planned and executed without the benefit of any appreciable Innovation.

WHY then, do so many CEOs and their senior teams seem to resonate with (and be prepared to invest in) these strategies more than — or in the absence of — an enterprise-wide Innovation Mandate and the infrastructure required to execute it?

If this is happening in your organization, then I’d bet my best pair of boots that one or both of the following is also true:

1. Innovation (if present at all) is not directly tied to your business strategy.

2. Innovation is not being valuated, TRACKED, and reported.

Recognize Reality: Innovation efforts cost money and other resources — so do coffee filters, staplers, desk chairs, computers, and all of the initiatives described above.

Equally True: Each can and should create value for the organization — above and beyond the original investment. But the only way you can know this is happening (and prove it) is if you TRACK it in the first place.

Bottom Line:  Don’t be afraid to assign costs to your innovation efforts — capture this, and make sure your leadership knows what they have invested in Innovation.

Track the value your innovation efforts are producing . . . and let your leadership know about it. Yeah I know, sounds simple . . . Most good ideas are — and this simple discipline (Valuate, Track, Report) works — every time.

Top performers in every arena do it. It’s the best way - perhaps the only practical way to: manage money, lose weight, advance your career, manage change, improve your tennis game . . . accomplish any worthwhile goal.

And I guarantee you it’s the best way to start getting your leadership genuinely engaged and properly contributing to Innovation for your organization.

BY STONE PAYTON

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January 13, 2009

January eMERGE! - The Journal of GrowthANSWERS

Filed under: General —

The Prospect Gap

Are we in a recession? When did it start? Did the policies of the Democrats cause it? Did the Republicans fall asleep at the wheel? Who cares! Right now the economy is tough - for everyone. Every day more and more Americans lose their jobs. Budgets are being slashed. There is no doubt we are in the toughest economy any of us have experienced.

At this point, I hope you haven’t hung your head in tears. There is hope - the GrowthANSWERS stimulus package. No, you won’t be getting a check from us - what you will be getting is knowledge. Knowledge that can help you and your business during this rough period.

“What makes us different from our competitors is our quality. Oh not, wait, I think it’s our price. Nope, it’s definitely our service.” says the infamous Biff Manly. Let me tell you something Biff - it ain’t any of them.

Quality, price and service are probably the 3 biggest statements I see when companies look to express what makes them different. How many times have you heard “We’re different because we have excellent customer service.” Really? Better than anyone else? PROVE IT!

You can’t - and that what makes it a terrible differentiator. Now, if you do have great service, that will keep people coming back to you - an equally important point. But it won’t differentiate you in the buying process. Those 3 points are just what you need to stay in the game. Without a good quality product/service selling at a fair price, backed up by excellent service, you won’t have to worry about your business in this economy because you’ll no longer be in business.

I promised you knowledge, so here goes. In our first article, Todd Schnick shows off his social media expertise and demonstrates how important some the new tools are to the success of your organization. Don Rigby follows that up with an article, expressing the marketing challenge that manufacturers are facing. Finally, the venerable Stone Payton completes the trifecta with an article, on Innovation.

Steven Winokur, Turning Point Strategies

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January 6, 2009

10 Questions You Better Ask Your Customer

Filed under: customer service, direct response marketing, branding/differentiation, marketing strategy —

Have you noticed that some businesses need reminding that marketing is the art and science of getting and KEEPING profitable customers?

They always seem to forget the “keeping” part…

We are always reminded that getting new business from existing clients is less expensive than finding new customers.

In a blog post from the other day, I suggested a tactic one could do right away to kick off your 2009 marketing - mailing a survey to your existing customers. I want to expand on that idea here.

The survey piece could come in many forms, whether it is a comprehensive survey form that is completed and mailed back, a simple letter inviting responses via email, questions that are answered via the phone, or an online survey. Whatever the format, demonstrating that you care about your customer’s inputs is important - whether they take you up on it or not. But you know as well as I that a dialog generated by the mailer can ultimately lead to new business.

Here are some questions to include in your survey:
1. Ask how their business is going. Show that you care.

2. Find out what their biggest problem is. Identify what is holding them back most.

3. Since they are an existing customer, they have purchased from you. Sincerely ask if your product or service is benefiting them.

4. If your product or service isn’t living up to their expectations, find out how it is falling short (and do something about it).

5. Ask for new ways to improve your customer service. Things like response time, tech support, billing, front desk etiquette, etc.

6. Ask if there are other products or services on the market that intrigue them.

7. Does our product or service fit comfortably into next year’s plans? How can we modify it to continue serving you well?

8. Share ideas on ways to improve on our products or services. Use these answers to identify new ways to cross-sell and develop new offerings.

9. Suggest ways we can improve our communication flow. Blog? E-zines? Monthly reports via mail or email? Other social media tools?

Finally, ask for time to discuss these issues with your customer. Use this time to serve and provide solutions.

At the end of the day, this exercise of reaching out to your customers is just great customer service - service being the key word here. If you take great pains to SERVE your client, they will always be appreciative. And you will find that even if they are not pleased with a particular application of your product or service, the act of understanding how you can IMPROVE that customer experience will go a long way towards them remaining as your customer.

Customer satisfaction isn’t enough anymore. Customer DELIGHT is. And this tactic can help you begin to achieve that. Let me know of other ways you have achieved the same, or other questions to ask of your customer!

Todd Schnick. Be Intrepid. http://intrepid-llc.com

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January 4, 2009

Get Innovative, Get Fast, and Give Back

Filed under: customer service, branding/differentiation, marketing strategy, General —

Want to survive and thrive in these tough times? If you believe the press, 2009 will be tougher than last year. So you will need to distinguish yourself and your business to stand out and succeed.

What to do?

Get innovative. Get fast. And give back.  (The first two are obvious, the third less so…)

In this tight economy, you’d better get innovative - both with your marketing and with your service delivery. Innovation is simply a new way of doing things, and it generally applies to a change in your thinking, product offerings, or your systems and processes. Getting innovative may go a long way towards helping you do things better than the competition.

And you better move fast, both in delivering on your products and services, and in being first in the market place with your marketing effort. As my friend Stone Payton likes to say, “speed kills the competition.” You cannot assume that your competition will wait around - you must assume they will be out there trying to beat you to that prospect. Get moving.

And you better distinguish yourself by giving back. As I said, these are tough times, and there are a lot of people in need. There isn’t a better time to make this a cornerstone of your marketing effort.

Not a bad idea to differentiate yourself by giving back. Don’t we always say the more you give, the more you get? And with the social media boom, you now have no excuse to contribute to bettering your community. That feels good in and of itself. But it also reflects well on your personally - and your business.

How can you serve by giving back?

1. Join and serve on a charitable Board (this is what I am doing).

2. Donate services, such as PR or Social Media advice to a local charity.

3. Commit to raise money.

4. Volunteer your time.

There aren’t many guarantees in life, but there is one I can promise: The gift of giving back will make you feel good. And feeling good makes you a better person and a better businessman. And we need that in these times.

I joined a board of directors in 2008, and can’t wait to make my contribution in 2009. On these pages over the coming months, I will share with you my experiences and my learning. I hope you will comment back and tell us how you are giving back.

Todd Schnick. Be Intrepid. http://intrepid-llc.com

Want to help us out? Visit http://www.furniturebankatlanta.org/

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January 2, 2009

How Not To Conduct A Manufacturing Sales Meeting

Filed under: sales team development, sales process optimization —

Many years ago I worked for a small manufacturing company. As one of four regional managers, I was invited to the home office the first week of the second month of each quarter, to meet with our Vice President of Sales for a five-day “Sales Meeting.” We really had a good time eating at our favorite restaurants in the area, but we all HATED those meetings!

We were never sure just why we were called in for a full week, four times a year. These meetings consisted of hours of random discussions without meaningful decisions, bull sessions about sports teams or favorite cars and where we would have lunch. These hours were punctuated by moments of interesting discussions with engineering, marketing and manufacturing, which helped us feel a part of something larger than ourselves. Here is what I observed about how not to conduct a sales meeting:

No advanced agenda. We were often unable to contribute effectively to a particular discussion because we did not know the subjects in advance. Lack of preparation resulted in frustration and poor decision-making.
Failure to adhere to the established agenda. The first morning of each event we were presented with the week’s agenda. We rarely stuck to those topics, and often got behind. We all felt like two of the five days were wasted.
Avoiding the “elephant in the room.” Sales were flat for four of the five years I was part of this group. While we discussed ways to increase sales (of course!), the “elephant” of our antiquated technology and poor market positioning was ignored.
Lack of a marketing and sales plan. I do not remember any cohesive marketing programs or plans of action which would increase our market share or customer awareness. It was difficult to generate excitement in the field.
No business fun. We had four talented, capable managers, who wanted to succeed and make money. There was no “motivational speaker” or trainer or consultant brought in to help us grow personally, to get outside our habits and look for innovative ways to grow our business.
No follow up from the top. The CEO and the VP of Sales were great people. We became friends. But they had no action plans to work with us in the field to identify markets, build distribution or increase OEM sales. We may or may not see them in the field between quarterly meetings.

From these experiences I have three recommendations for effective sales meetings:
1. Identify and promote a specific and definite objective for each meeting.
2. Keep it short and stick to business. Generate excitement to make the meeting personally rewarding and business profitable.
3. Follow up with executive presence in the field to reinforce the initiatives or the plans decided in the meetings. Field managers need to be accountable and feel supported.

If you want to have fun, build the business meeting around a fun location, but make sure that the business is the focus of the meetings part.

MARK WALKER  http://www.jmwalkergroup.com/