find, keep and grow your customer

June 16, 2009

EQUIP EMPLOYEES TO CONVEY VALUE WITH ONGOING TRAINING

Filed under: customer experience, customer service, eMERGE!, sales team development, sales process optimization —

BY MARK WALKER

In the May 8-14 edition of the Atlanta Business Chronicle there is an on-target opinion piece written by Tim Bentsen, the Managing Partner for the Atlanta office of KPMG, LLP.  He discusses the opportunity in this economic downturn to step back from the short-term focus, and think for the long-term.  He suggest three areas for this long-term focus, but leaves out an important fourth – building up your people by training them.

If your phone is not ringing off the hook, then you have available time to invest an hour a week training your people, at all levels, on the key ways your company creates value and makes money for your clients. 
• Work with your executive, management, sales and service teams to identify the areas in which your products and services bring value to your clients.  What do you do for clients that helps them create value for their customers? 
• When you gather them for weekly training, invest  10 – 15 minutes talking about client success stories in applying your solutions.
• Focus on teaching your employees how to uncover ways to build additional value through your offerings for your clients. 
• Help them create the diagnostic questions they can ask to uncover needs that you can fill, and share those questions with everyone.

When you meet for your weekly sessions make sure to:
• Equip your employees to really find out what your clients need.  Help everyone learn how to uncover what the clients can do now to grow their businesses, and look for needs that your products and services can fill.
• Train your employees at all levels to make your key products and services known to your prospect and clients as solutions. 
• Rehearse ways to show  clients how your solutions will help them get business, now and for the long term.
• Convert your solutions in to dollar savings to demonstrate to your employees direct value for clients.

When the economic times are uncertain, people become fearful about a lot of things.  They stand around the coffee pot or water cooler and commiserate about the troubles – unless you give them something good to talk about; something challenging to focus on in helping your customers succeed at their businesses.

The organizations who are now focusing on the basic issue of building value for their clients in this tough market, will be in the best position to break through when the recovery begins.

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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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November 11, 2008

November eMERGE! - The Journal of GrowthANSWERS

Filed under: eMERGE!, sales process optimization, 1-to-1 relationship marketing, marketing strategy, General —

Close the Expansion Gap

When speaking with business owners, the most common growth issue I’ve traditionally heard is one of lead generation. When digging deeper and discussing the findings of the Growth Gap Self Assessment, what I often find is that they also have an Expansion Gap problem. While finding new customers is important to growth, continuing to offer solutions to existing customers is not only easier, is much less costly.

If you’ve heard me speak, you know I preach focus, focus, focus. So I will say here it’s not about just adding products or services. It’s about adding the RIGHT products or services - ones that will further solve your customer’s problem. If you’re solving an issue of entertainment, offering a steam cleaner isn’t the right option.

And perhaps most importantly, make sure you can deliver the same level of service with those new products or services.

In our first article below, Mark Walker explains how to use questioning to uncover new opportunities. Zahir Palanpur follows up his “Meet the eXpert” presentation in October with a timely article on the use of innovation. Stone Payton’s unique writing style is on display in our third article. And finally, Don Rigby writes on the appropriate use of nurture marketing.

Steven Winokur, Turning Point Strategies

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eMERGE! - The Journal of GrowthANSWERS by adminga on September 10th, 2008
Closing the Customer Gap I learned an important lesson from one of our members, Mark Walker early last year when I took his course on Intregrity Selling®.

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October 8, 2008

October eMERGE! - The Journal of GrowthANSWERS

Filed under: promotional marketing, eMERGE!, 1-to-1 relationship marketing, branding/differentiation, marketing strategy, General —

Closing the Loyalty Gap

In a recent interview with Strategy magazine, I stressed the importance of having loyal customers. Without a loyal customer base, you’re constantly having to find new customers just to replace the ones you lost. Having loyal customers that will buy new products and services is a huge benefit. Businesses often forget its MUCH easier to keep a customer delighted then it is to continually find new ones.

In our first article, we have a guest author, Jack Welch! Oh wait, it’s just Don Rigby referencing an interview and expanding upon Jack Welch’s thoughts and how they apply to the Fortune 100,000. Todd Schnick discusses how important it is to incorporate a plan for customer loyalty into a marketing plan in our second article. Expanding business with current customers by examining the “Voice of the Customer” is the point of Michael McClellan’s article. And finally, George Fergus educates us on guidelines for gifting customers and employees during the holidays.

Remember, customer loyalty can be measured in two ways - how often a customer makes a purchase and how many purchases occur over the lifetime of the customer. 

What would happen to your top line if you were able to get a significant % of customers to increase their number of purchase occasions? And, what if you were able to retain that customer for a longer period of time?

If you’re interested in receiving our newsletter in your mailbox each month, please subscribe here.

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September 10, 2008

eMERGE! - The Journal of GrowthANSWERS

Filed under: Resources, eMERGE!, sales process optimization, internet marketing, branding/differentiation, General —

Closing the Customer Gap

I learned an important lesson from one of our members, Mark Walker early last year when I took his course on Intregrity Selling®. The sales process has distinct steps that must be followed for a successful outcome. But more importantly, that the “Close” is not really a step that happens in isolation. You don’t go through the whole sales call and then “Close”. You “Close” all throughout the interaction with the prospect.

Once you’ve asked the right questions, demonstrated that your solution does indeed solve their problem and overcome any objections (including price), the “Close” should almost automatically happen. That’s because of during the sales call, you’ve been building creditability and above all, value.

Contrary to the typical gym membership sales process, closing the Customer Gap is about providing value throughout the sales call - not the hard “Close”.

In our first article, Mark Walker explains how to build trust and demonstrate the value of your solution to a prospect. Steven Winokur highlights how a political campaign mirrors the sales process. Don Rigby uses a case study to discuss the power of innovation and systems. And finally, we have an article from an Associate Member, Michael Harper, that introduces the concept of viral video marketing using the Internet.

If you’re interested in receiving our newsletter in your mailbox each month, please subscribe here.

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August 13, 2008

eMERGE! - The Journal of GrowthANSWERS

Filed under: sales team development, Resources, eMERGE!, sales process optimization, web/interactive marketing, lead generation, direct response marketing, General —

The Prospect Gap

While there is no doubt taking care of existing customers needs to a major priority, new business is the lifeblood of any growth-oriented organization. Unfortunately, many companies go about the process all wrong.

It’s not about just attracting eyeballs, getting people to call you or ask for more information. It’s about getting the RIGHT people to do those things. Now, the RIGHT people will be different for every organization, but the fact remains that every organization does have the RIGHT prospect. I would define that as a qualified prospect.

Does it matter that your website receives 1000 hits an hour or you’ve had 500 requests for information if those people are not going to buy from you - for whatever reason. I would rather have 10 hits a day from qualified prospects than 1000 hits a day from just anyone. And I guarantee you, so would your business development team.

Now that you’ve defined a qualified prospect, how can you figure out who fits that definition. Check out the article from Michael McClellan. Once you’ve determined who fits your definition, how can you cut through the clutter and reach them with your message. Check out Todd Schnick’s article on a new unique tool to do just that.

Zahir Palanpur’s article will highlight ways to keep that prospect engaged with your website. And don’t miss Stone Payton’s treatise on the misunderstood topic of Lead Generation, I mean Incubation.

If you’re interested in receiving our newsletter in your mailbox each month, please subscribe here.

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