find, keep and grow your customer

February 22, 2009

4 Tips On How To Interview Your Customer

Filed under: sales team development, sales process optimization, 1-to-1 relationship marketing, lead generation —

BY MICHAEL MCCLELLAN

“Converting prospects into customers” – which is what GrowthANSWERS calls the “Customer Gap” – should be an important issue to most small-to-mid sized manufacturers.  The reason?  Most manufacturers under $75M in annual revenues rely heavily on niche markets for business – which means that they generally will have a limited pool of current and potential customers to do business with.  This makes it imperative that they convert as many prospects as possible into customers in these niche markets. 

(By the way, this also means that keeping as many customers as possible from these niche markets – i.e. closing the “Loyalty Gap” – and servicing them in as many ways as possible, which is addressed by the “Expansion Gap” – are also important issues.  These will be addressed in future editions of this newsletter.) 

Given the limited nature of the prospect pool in niche markets, some market research into the needs and pain points of prospective customers may be cost-justified.  In addition, it is equally important to explore the key reasons that current customers buy your products and/or services, as well as the reasons that fallen-away customers no longer buy from your company.  Only then will your sales force be truly prepared to convince prospective customers that your product or service is the best solution to address their needs and areas of pain.

Whether you use a professional market researcher or decide to have one of your internal team members conduct the interviews, here are a few tips and techniques for interviewing prospects, current customers, and fallen-away customers:

1) USE OPEN PROBES: Open-ended questions allow your prospects and customers the opportunity to think and respond in ways you might not anticipate.  Be ready to ask the question in another way if you meet resistance or if they have trouble getting started with their answer.  Probe deeper when you aren’t certain you have a clear understanding, or if you think they might have more opinions and insights to share.  Most importantly, listen.  Your goal when making the phone call is to uncover points of pain that perhaps you didn’t realize your prospect or customer is experiencing.  Even nuances make a difference in how effectively a piece of marketing collateral is written. 

2) GET FEEDBACK ON PAST EXPERIENCES:  Take the bad with the good — and don’t get defensive.  Asking for specific details regarding a bad experience will give you valuable problem solving material.  Address concerns at the end of the conversation or, better yet, set up a future meeting so that you have time to prepare and offer a well thought out solution.  You are just trying to pinpoint the key gap areas during this interview.  But, don’t forget to ask what your company does particularly well.  Good performance is just as important to know about as bad.          

3) TEST SOME NEW CONCEPTS: Use the questionnaire as an opportunity to test some new concepts or approaches that you would like to explore with your prospects or current customers.  It’s a perfect time to informally introduce a new idea or product/service offering.

4) KEEP IT SHORT: Do have a dialog, but don’t ask so many questions that it overwhelms your customer.  Normally, 8 to 10 minutes is what you want to allow for this type of interview.  Let the customer be your guide here, though.  Sometimes they want to talk a lot longer.  Do enough to make it meaningful, but don’t make the set of questions so long that you can’t complete it.  Focus on your key objective areas, and make questions in those areas count.  End the call by letting the contact know how important their comments are to you and your business.

By conducting interviews with your current customers, you are creating deeper, more meaningful relationships.  Conversations with fallen-away accounts help you to discover why certain customers fell away and what steps you might take to bring them back.  And, periodic interviews with prospect companies in your targeted niche markets will help you to understand what you can do to become even more valued and differentiated in that niche. 

Finally, remember that current customers (and sometimes those who once were your customers) are your best source and most cost-effective business prospects. 

[del.icio.us] [Facebook] [Furl] [Google] [Mixx] [StumbleUpon] [Technorati] [Yahoo!] [Email] More »

If you liked that post, then try these...

Leading and Coaching a Selling Team by editorga on October 12th, 2008
BY MARK WALKER – .

eMERGE! - The Journal of GrowthANSWERS by editorga on August 13th, 2008
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.

Sales Training is Like Viagra? by editorga on November 7th, 2008
BY MARK WALKER – .

No sale? Just ask your potential customer WHY? by editorga on February 20th, 2009
.

How Not to Conduct a Sales Meeting... by editorga on September 10th, 2008
BY MARK WALKER - .

February 20, 2009

No sale? Just ask your potential customer WHY?

Filed under: sales team development, sales process optimization, 1-to-1 relationship marketing, lead generation, General —

BY J. MARK WALKER

Several years ago I was the regional sales manager for a small manufacturing company.

One of our product lines was made by this German parent, and was often used in OEM applications.We had a prospect in my Region who bought $500,000 per year worth of a product like one of ours, and we wanted their business. I worked through their Purchasing Department and Engineering Group to insure that we met or exceeded all their design specifications, and that our price was right. After more than a year, we still did not have the order.

I called the Purchasing Agent and asked, “We have the best product at the best price. Why don’t we have the order?” His answer floored me. “Our Vice President of Sales and Marketing does not want to change suppliers?” I asked, “That seems a little out of the ordinary. Why is that?” He responded with a story about a big problem with their present supplier which caused a major public relations disaster in one of their markets. They eventually got the problem resolved, but the VP of Sales and Marketing did not want to risk going through that kind of issue with a new supplier.

After verifying that he wanted to order our product, I asked the purchasing agent to set up a meeting. My Vice President of Sales, Director of Engineering, and Product Manager met me at their plant and we sat at the table with their Vice President of Sales and Marketing, Director of Engineering, Quality Control Manager, and Purchasing Agent. We got all the concerns out on the table and demonstrated how the problem they experienced in the past could not occur with our product. We then agreed upon a plan for a site visit to our facility by their people to verify that we could serve them.

From then on it was just a matter of working the plan, and we got the order.

What was the question that I had failed to ask one year earlier? After we became an approved vendor, I should have asked the Purchasing Agent something like this: “Who else needs to agree to this before you can place the order with us?” I could have saved a year of time and earned an extra $500,000 in revenue had I uncovered the issue with “changing suppliers.” Often there are factors in a purchase decision which don’t make sense to us, but which relate to a cultural issue or a historical problem like my customer had.

You will only learn this when you ask questions to pull out the information.

[del.icio.us] [Facebook] [Furl] [Google] [Mixx] [StumbleUpon] [Technorati] [Yahoo!] [Email] More »

If you liked that post, then try these...

EQUIP EMPLOYEES TO CONVEY VALUE WITH ONGOING TRAINING by editorga on June 16th, 2009
BY .

AT&T's Lack of Customer Service - Part Deux by editorga on November 19th, 2008
BY STEVEN WINOKUR - .

Customer Service: Making Money by Giving Stuff Away by editorga on August 26th, 2008
BY MARK WALKER - .

How Not To Conduct A Manufacturing Sales Meeting by editorga on January 2nd, 2009
Many years ago I worked for a small manufacturing company.

Meet The Expert: Mark Walker by editorga on June 4th, 2008
"You Can't Teach People to Sell By Teaching People to Sell" June 18, 2008   Atlanta    (.

January 2, 2009

Three Things You Can Do NOW To Be Intrepid Marketers

Filed under: 1-to-1 relationship marketing, web/interactive marketing, customer service, internet marketing, direct response marketing, branding/differentiation, lead generation, marketing strategy —

I wonder why some people are so afraid to market their business.

They say they want new customers - they say that want more revenue - they say they are worried about the impact of the economy. But they don’t take decisive action to do anything about it.

I think most of them are dealing with fear - or they are procrastinators - or they don’t have a plan in place to proceed. A fear of failing holds way too many people back from bold action.

I have resolved to JUST DO IT in 2009 - to just DECIDE to take action - to mercilessly kill any evidence of procrastination.

Yes, even I hate to admit - I too sometimes get snagged by procrastination. And it really stresses me out when I catch myself doing it. The only way to fight it? Take action. Smart action, of course, but action nonetheless.

When it comes to boldly marketing your business - here are three things you can do RIGHT NOW:

1. If you haven’t already done so, get active on social media. Start a company blog, get on Twitter, create a company Facebook page. They are free and can be set up in minutes. They are not all time-consuming, and they are a great way to promote your business, build your brand, and make new relationships.

2. Start a direct response campaign to find new customers. Assuming your have your niche target market defined and your marketing message secured, there is no reason not to do a campaign right now. If you have a good product or service, get it out there so that you can help new people. But get out in front - don’t assume your competitors will remain stuck in the goo. Be first in 2009!

3. Send out a survey mailer to your existing customers. Show you care, ask what they need, ask what their current problems are, ask how you can serve them better. [this can be done electronically too - and another reason to get active on social media] Your customers will appreciate the outreach. This will help differentiate you. This will generate action and conversation that will result in cross-sell opportunities AND serve your existing customers.

Well, there are three things you can start working on TODAY. Motion creates emotion. And that first step is the hardest. Choose to take bold, intrepid action in 2009. Good luck!

TODD SCHNICK - BE INTREPID. www.intrepid-llc.com

[del.icio.us] [Facebook] [Furl] [Google] [Mixx] [StumbleUpon] [Technorati] [Yahoo!] [Email] More »

If you liked that post, then try these...

No sale? Just ask your potential customer WHY? by editorga on February 20th, 2009
.

4 Tips On How To Interview Your Customer by editorga on February 22nd, 2009
.

STOP THE INSANITY - Restructure For Revenue! by editorga on July 31st, 2008
RESTRUCTURE FOR REVENUE BY DON RIGBY - .

Out of Sight, Out of Mind, Out of Business by editorga on February 28th, 2009
.

Intrepid PURLs of Wisdom by editorga on June 24th, 2008
by Todd Schnick / .

December 28, 2008

Social Media and Manufacturing: The Wave of the Future?

Filed under: web/interactive marketing, internet marketing, lead generation, marketing strategy, General —

Q: I was reviewing the manufacturing white paper that was done recently by GrowthANSWERS, and I was surprised by how few manufacturers surveyed utilize online tools to prospect.  Is there a reason for this?  Can it change?

A: It’s a great question.  Many of the manufacturers surveyed are specialized, and focus on niche markets.  As a result, they will tell you that their potential customer base is quite small, and thus there maybe isn’t a real benefit to social media tools.

But I wonder.  I think there is a great opportunity for social media tools to expand the market place for manufacturers.  And in opening up new doors, provide extra prospects to feed into the direct or indirect sales channels that exist.

The advantage of targeting a niche market is that you should have a solid profile of the type of customer you can serve.  Why this is important is it enables you to find others who match that profile.

And I think social media and online marketing can be an important support strategy to find more prospects that meet that profile.

Other manufacturers said that trade shows were an important tool in their marketing program.  Makes perfect sense.  Marketing, in all its forms, is meant to engage and educate – to build community.

I am willing to bet that when surveyed a year or two down the road, online marketing strategies will make up a significantly larger percentage of tactical options used.  What do you think?

Let me know what you think about social media and manufacturing.  What strategies have worked?  What social media strategies have not?

[del.icio.us] [Facebook] [Furl] [Google] [Mixx] [StumbleUpon] [Technorati] [Yahoo!] [Email] More »

If you liked that post, then try these...

“Would You Like Fries With That?” How this simple phrase – coupled with your Direct Response Marketing program – can power your sales! by editorga on October 19th, 2008
BY TODD SCHNICK – .

eMERGE! - The Journal of GrowthANSWERS by editorga on August 13th, 2008
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.

Intrepid PURLs of Wisdom by editorga on June 24th, 2008
by Todd Schnick / .

Zahir Palanpur on Customer Engagement Marketing by editorga on December 6th, 2008
BY ZAHIR PALANPUR - .

Three Things You Can Do NOW To Be Intrepid Marketers by editorga on January 2nd, 2009
I wonder why some people are so afraid to market their business.

December 13, 2008

Phone-Based Demand Generation Demands Consultive Approach

Filed under: Resources, sales process optimization, lead generation, marketing strategy —

BY MICHAEL MCCLELLAN - www.plexusmarketing.com

You have your main message selected, product features/benefits and questions/objections pages written.  You’ve purchased a thoroughly researched list of suspects you hope to move to the prospect stage.  So, what’s left to do but get on the phone and talk to people?

If that’s as far as you’ve gone, the demand generation project you’ve sunk so much time and money into may not create the results you had hoped.  A consultive call guide can be your best ally when trying to engage a busy executive or decision maker. 

But, writing a consultive call guide is not for amateurs.  With only a few seconds to create interest, you quickly want your suspect to become part of the conversation.  That means you have to ask open ended questions that pull your contact’s focus away from all the other stuff on their desk and get their full attention.

But, when you finally hear the voice of the contact you’ve been trying to reach for days on the other end of the line, it’s tempting to try to use those first couple of minutes to present your offering and its key features and benefits.  This approach, however, is likely to elicit a “no, we’re not interested” response from the contact person that you’ve waited so long to reach. 

Instead, be prepared make a short, credibility-building introduction of your company, then be ready to ask questions and consult – which gives you the opportunity to listen as well as talk. 

Making this simple change will save valuable time and expense, because you will find out more by asking the right questions and listening to your contact – and earn the opportunity to engage in a longer discussion. 

So, before you start your next demand generation project, consider enlisting the help of a professional call guide writer to help you develop a highly-effective script or call guide.  
 

[del.icio.us] [Facebook] [Furl] [Google] [Mixx] [StumbleUpon] [Technorati] [Yahoo!] [Email] More »

If you liked that post, then try these...

eMERGE! - The Journal of GrowthANSWERS by editorga on August 13th, 2008
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.

New Release From MarketMate: "Never Fry Bacon" Audio Book / Training Tool by editorga on May 28th, 2008
GrowthANSWERS Guest Columnist, Stone Payton released the .

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®.

GrowthANSWERS: The Marketing Resource for Manufacturing by editorga on December 20th, 2008
BY MICHAEL MCCLELLAN - .

Customer Experience: Empowering Employees (Part 4 of 5) by editorga on February 8th, 2009
.

October 19, 2008

“Would You Like Fries With That?” How this simple phrase – coupled with your Direct Response Marketing program – can power your sales!

Filed under: 1-to-1 relationship marketing, web/interactive marketing, internet marketing, direct response marketing, marketing strategy, lead generation, General —

BY TODD SCHNICK – www.intrepid-llc.com 

Do you know how many times I have pulled up to a drive-thru window with the sole intention of buying a single burger?  My intentions are sincere.  Honest.  Fries are high in carbs.  Salty.  Lots of reasons to avoid them.  I think to myself, this time I will avoid that bad, bad food. 

But then that pesky sales person in the first window says those magic words that get me every time.  You’ve heard them – uttering that phrase sprinkled with mystical pixie dust that turns me into soft goo every time… 

“Would you like fries with that?”   

“Yes,” Todd says quickly and matter of factly, as if it was his intention all along. 

Seems ridiculously simple, doesn’t it?  But this little sales technique is so powerful, so common sense, that every business utilizes it, right?   

Wrong.  You’d be surprised how many businesses – both large and small – don’t ask the equivalent of “would you like fries with that” for their products or services. 

Can you apply a similar technique to your business?  Yes you can.  Can you engage your direct response marketing program to execute it for you?  Again, yes you can. 

How? 

Remember, the advantage of direct response marketing is that it is direct.  It can be targeted with precision – unlike mass media.  If you have an existing database of customers – you know precisely what they have bought from you – and why.  (And if you don’t – you’d better…) 

The teenager sitting in the drive-thru window at the burger joint knows you just bought a burger.  They also know there isn’t anything better with a burger than fries.  And even if you don’t think you want fries, it’s hard to resist.  Even harder when someone asks.  You need to apply the same principle to your business. 

Utilizing this database, you can build your business by cross-selling.  What is cross-selling?  Cross-selling is defined by the Oxford English Dictionary as “that of selling an additional product or service to an existing customer”. 

The teenage kid asking you if you wanted fries was engaging you in the most basic form of cross-selling.  Another classic example is selling vacuum cleaners.  If you are selling new vacuum cleaners, you are a fool not to sell your customer an additional supply of vacuum bags. 

The beauty of cross-selling is that you are actually providing your customer better support and service, since the products or services you are cross-selling are helping that customer better fulfill their needs – or solve their problem.  Sometimes, you are merely asking them to consider something they haven’t thought about before, or didn’t know was an option. 

Now, how can you retool your direct response marketing program to do this?  Well, what direct marketing tactics are you employing?  Direct mail?  One-to-one marketing?  Telemarketing?  Email marketing?  All of the above? 

You sell widgets.  You have a database of the customers who have purchased widgets from you.  You also sell whatzits – which nicely compliment widgets and make them much more efficient and effective. 

Your customer base would benefit from adding the whatzits to their widgets.  Send them direct mail (or a coordinated one-to-one campaign, or an e-zine article, or call them thru your telemarketing program) and explain how whatzits improve the efficiency of their widgets and will help them further grow their business.   

Make the call to action simple and easy – just as easy as ordering fries – and not only will you better serve your customer – you will make additional sales and grow your own business.

[del.icio.us] [Facebook] [Furl] [Google] [Mixx] [StumbleUpon] [Technorati] [Yahoo!] [Email] More »

If you liked that post, then try these...

Out of Sight, Out of Mind, Out of Business by editorga on February 28th, 2009
.

October eMERGE! - The Journal of GrowthANSWERS by editorga on October 8th, 2008
Closing the Loyalty Gap In a recent interview with Strategy magazine, I stressed the importance of having loyal customers.

No sale? Just ask your potential customer WHY? by editorga on February 20th, 2009
.

GrowthANSWERS' Don Rigby Makes The AJC! by editorga on February 7th, 2009
Business owners are being tested for courage.

STOP THE INSANITY - Restructure For Revenue! by editorga on July 31st, 2008
RESTRUCTURE FOR REVENUE BY DON RIGBY - .

September 24, 2008

Breaking Through…To Reach The Decision-Maker…

Filed under: Resources, sales process optimization, lead generation, marketing strategy, General —

BY MICHAEL MCCLELLAN – www.PlexusMarketing.com 

A heartfelt ‘thank you’ to all of the attendees to my ‘Meet the Expert” presentation of 9/17/08 on B2B Demand Generation.  As a follow-up to that session, I’d like to address two questions from Laura Hollenstein of Premier Marketing Resources, who attended my presentation:

1. What have you found to be the most effective approach in reaching the decision makers when selling your services?  Sometimes that “firewall” can be pretty difficult to break through. 

This is an excellent question, since marketing professional services (which includes ‘marketing services’) is typically more challenging than other B2B products and services.  While there is no one approach that fits all professional services companies, here are a few suggestions (that Plexus Marketing Group, Inc. also uses) which might make the challenge easier: 

(a)    Enlist the Help of Gatekeepers –  the “firewall” can indeed be difficult to break through, but most ‘gatekeepers’ (e.g. personal assistants and marketing coordinators/analysts) are reasonably informed about the overall direction and ‘pain points’ of a company.  Invest a few minutes of time talking with them and share your ‘elevator speech’, paying particular attention to specifically how your services have benefited companies like theirs.  Next, indicate how answers to 2 or 3 key questions (that you intend to ask the decision maker who you’re trying to reach) could help determine if there is a potential match between your firm and theirs, and enlist their help in getting the answers to those questions.  Finally, offer to send a Capabilities PDF or whitepaper to them that explains your company’s benefits and ask them to share it with the decision maker.  Indicate that you would like their help in determining how best to proceed and that you are interested in starting a relationship building process with their company, then arrange a time to follow-up – remembering to thank the gatekeeper for their assistance.  My marketing team has used this approach successfully, and I believe it will work for you (at least in a significant number of cases where it is used). 

(b)  Cultivate a Business Development ‘Apprentice’ Skilled in Consultative Selling of Your Firm’s Services —   while I spent the first 7 years of my career at a Fortune 100 company (including experience as an outside sales representative), it was not until I started a consulting practice that I felt that I really learned the art of the complex sale and how to be truly consultative when selling.  I am convinced that my day-to-day participation in consulting service delivery was one of the key reasons for my improved lead generation and close rates during that part of my career.  Since those early days of Plexus Marketing Group, Inc., I have been committed to the ‘apprentice approach’ to developing business development talent within my firm.  For example, I am strongly committed to a ‘team selling’ approach, where other members of our marketing and business development team can acquire consultative selling skills and be exposed to ‘best practices’ first-hand.  There are certain parts of the business development process – such as lead generation and marketing event support – where less experienced team members can be a part of the process and gain early successes without having to do the actual consultative selling.  Also, by involving these business development ‘apprentices’ in portions of your company’s service delivery (even if just for one or two projects), they will more quickly become experts on your company’s professional service delivery processes and will be able to speak with more authority during their business development calls. 

(c ) Consider Leveraging Your Key Business Development Executives’ Time and Expertise through Web Videos —   my firm is a TechLINKS sponsor (see www.techlinks.net) and we recently attended one of their special events where they gave participants the opportunity to make a 4 minute presentation on their services to a group of C-level executives, which was then digitally recorded and posted on our company listing at the TechLINKS site.  This marketing tool not only allowed me to leverage my time and expertise in a way that my business development team could then use on its prospecting calls, but it also has generated new business leads from prospects using TechLINKS to locate potential service providers.  Web videos are especially effective tools for professional services companies because they allow the consultants, doctors, attorneys, or other professional service providers to showcase their expertise and let prospects evaluate the potential fit with the provider companies prior to talking with one of the company’s representatives (who then, because of the video, does not have to be one of the key professionals or executives).  Roger Stix of Atlanta Business Video (www.atlantabusinessvideo.com) – who is a client and friend of mine – has related case studies of how professionals such as doctors, attorneys, and B2B professionals have significantly improved their business acquisition metrics through the use of website videos for a modest investment of less than $3000. 

2. How effective or is it ever effective to leave a voice mail for the decision maker regarding the products and services you are selling? I’m referring to a cold call voice mail. 

I think that voice mail messages can be effective in building awareness for your company’s products and services, providing that you have targeted your market segment and audience well and adhere to a few key guidelines:  (a) keep it brief (30 seconds or less is preferred); (b) describe your services and include an attention-grabbing ‘factoid’ that highlights one of the benefits your firm offers companies like theirs; and (c ) include your web address and contact number.  Then, follow up with a key gatekeeper at their company (using the techniques described above) to build upon the ‘beachhead’ that your voice message has established.  And, of course, keep at it … it may take a number of attempts and a variety of approaches to finally reach a particularly busy executive.