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Relationship Strategy Presentation to Canadian Fraternal Association. May 2009.TRANSCRIPT
Customer Value. Right. Now. 1
Reclaiming Customer Relationships: The Lost Art of Paying Attention
May 22nd, 2009
Customer Value. Right. Now. 2
Sales & Marketing Consultants We define and execute
relationship strategies New Customer Program Customer Development Program
We use technology for leverage, scale, and repeatability SalesLink Sales effectiveness Sales activity management Customer feedback
Sell more now. The right people doing the right things
all the time.
Customer Value. Right. Now. 3
We help companies define and execute their key relationship strategies
Customer Value. Right. Now. 4
Value Scorecard Focus on Relationships Case Studies Applying these concepts in your organization
Agenda
Customer Value. Right. Now. 5
Full Potential
New business
Customer value
Marketing Strategies
Technology
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7.1
6.4
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7.8
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7.4
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Let’s talk relationships.
Customer Value. Right. Now. 7
There’s not a lot more that can be done with price and product.
Customer Value. Right. Now. 8
With price and product optimized
What is your path to success?
Customer Value. Right. Now. 9
The customer relationship is all
that’s left.
But do we know how to define it?
Think about a great customer experience. What made that
experience so good?
Relationships Deliver an Experience. Experiences are Emotional.
Customer Value. Right. Now. 12
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
Customer Value. Right. Now. 13
Creating Success Isn’t Easy
Some of us are executing best practices, but it’s complex, time consuming, and can take away from core selling time.
Some of us know what to do, but not how to do it.
Others have very few new ideas of how to build the business.
Customer Value. Right. Now. 14
Customer Value. Right. Now. 15
Relationship strategy: delivers a repeatable and scalable process that leverages relationship (rather than price and product) to sell more now.
Customer Value. Right. Now. 16
Technology
The Relationship Strategy Process
Marketing & Support
Sales Engagement Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 17
Call Call Follow-up
Manage the Experience: Optimal Contact Stream
Define the value Optimal contact stream for
engagement # attempts # days apart Message scripts No contact follow-up Pre-call marketing Pre-call marketing creative, copy,
execution, measurement
Call/meeting support Approach Dialogue strategy Call scripts Objection handling Feedback management Call follow-up marketing creative,
copy, execution, measurement
Attempt
Pre-call Warm-up
Attempt
Attempt
No Contact Follow-up
Attempt No Contact Follow-up
Pre-call Warm-up Attempt Pre-call
Warm-up Attempt
Pre-call Warm-up
Pre-call Warm-up
Customer Value. Right. Now. 18
You’ve done all you can with price and product.
Cases 3 cases. All different levels of complexity. All elegant. All powerful.
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Cases
Sales Activity Management
Feedback Mgt. Relationship Mktg. Triggered Strategies
Feedback Mgt. Response Mgt. Relationship Mktg.
Business Planning Tool
Prospect Mgt. Sales Mktg. Edit Response Mgt. Feedback Mgt. Sales Support
Relationship Marketing Centre
Feedback Mgt. Response Mgt.
Micro Sites Lead Scoring Qualification
Meeting F/U Feedback Triggered Strategies
✔
✔
✔
Effectiveness Tool
Customer Value. Right. Now. 21
MD Management: Relationship Program
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.
Customer Value. Right. Now. 22
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 23
Relationship Program Plan ROI
Customer Value. Right. Now. 24
Reps Can Edit the Program and Plan Who They Will Call
Select Customers
Bulk Assignment
Edit Status
Call Dates
Program Summary
Customer Value. Right. Now. 25
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 26
Pre-call Marketing
• Marketing pieces are timed to go out 8 days prior to planned calls • Key Messages vary by segment • Personalized from rep • Drives calls, request for information and key contact data
Customer Value. Right. Now. 27
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 28
Key Relationship Data
Preferences
Needs and Interests
Objections
Competitive Relationships
Customer Value. Right. Now. 29
Automated Fulfillment to Info Requests
Customer Value. Right. Now. 30
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 31
Sales Support
Customer Value. Right. Now. 32
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 33
1:1 Marketing – Email Selections
Customer Value. Right. Now. 34
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 35
Reps Activities are Updated with Call Requests
Customer Value. Right. Now. 36
Sales Activity Management
Customize Report Filters
Review Key Metrics
Customer Value. Right. Now. 37
Sales Management
Sales Training
Sales Activity Management
Calls, meetings, proposals, sales
Performance Review
Sales data & key success metrics
Sales Effectiveness Management
Sales effectiveness
data, Coaching activities
Sales Activity
The Shift: From Sales Coaching to Management
Strategy & Analysis
Desired State
Current State
Feedback
Customer Value. Right. Now. 38
Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 39
Test, Learn & Roll-Out Strategy
Customer Value. Right. Now. 40
Overall Conversion Relationship Prospect Program
y%
Control Group x% Incremental Lift 159%
Results
Results are statistically valid with a confidence interval of 95%
Test and control groups were tracked for over 48 months
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Administrative process to confirm beneficiary status High cost with little/no tie to sales Opportunity to use relationship process to sell more now.
Teachers Life: Insurance Beneficiary Mailing
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“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.”
Is helpful and responsive.
Your Company
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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
Provides feedback and insight.
Your Customer
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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
Uses customer feedback to create value.
Your Company
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Short-term: Generated 14% 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
Is more satisfied, loyal and profitable.
Your Customer
Customer Value. Right. Now. 46
The best follow-up each and every time.
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Technology
Best Practice: Relationship Strategies
Marketing & Support
Sales Activity Marketing &
Support
Feedback Management
Customer Experience Create Customer Value
Plan – Execute - Manage - Learn
Customer Value. Right. Now. 48
Put your best foot forward Pre-call warm-up Call follow-up Meeting follow-up Message follow-up No contact follow-up After a sale Asking for referrals
Making sure that you are Timely in response Relevant in message Engaging in tone Compelling in value offer
Make it easy Do it every time
Put your Best Foot Forward
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Predetermine your ‘Best’ messaging for every occasion. Use technology. Make it easy to execute.
Micro-Sites
Websites
Personal PDF’s
Personalized HTML Email
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COLD-FX: Trade Show Follow-Up
100% Booth visitors that received customized, personalized email within 72 hours.
42% People who opened the email
8% People who took some other action (responded, visited website, etc.)
Customer Value. Right. Now. 51
Pringle LifestyleFit Program: Micro-site
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3 Easy Steps Select Contact Select Content
Send
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Categories o Our Discussion o Of Interest o To Review o Next Steps
Topics o New Customer Acquisition o Increasing Customer Value o Marketing & Sales
Integration o More Sales Now
Customize Categories and Topics with Copy, Links to URLs, Micro-Sites and PDFs
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Content Management: Categories
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Content Management: Topics
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Reporting
Who, When, Opened, Clicks
Click detail
Email sent
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Mobile and PC
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How can you apply the relationship process in your organization to sell more now?
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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
Four key elements in the relationship process.
How do you make this repeatable and scalable?
Customer Value. Right. Now. 60
Create value.
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Be helpful and responsive.
Integrate investments in existing activities.
support
sales
marketing
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Collect feedback.
Uncover the key data needs, preferences, and other essential
feedback.
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Sell more now.
Use insights to enable higher conversion today
and lay the foundation for longer-term success.
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Key Support Collateral
Target Prospect Lists
Automated Marketing Activities Marketing Programs
New Client Welcome
Acquire New Clients
Needs Review
Seminar
Keep in Touch
Occasion Cards
Product Launch
Business Building Tools
Build my Brand
Micro-sites
Client Referrals
Competitive Response
Client Appreciation
Satisfaction Survey
Retention
Client Education
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
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Six things you can do right now
(All testable. All with existing budgets.)
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Thank your customer and ask for feedback. Show them you
listened.
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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.
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Use your administrative contact (e.g. a statement mailing) to collect
actionable feedback.
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Present your customers with a “no-strings-attached” value
program.
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Give your customers access to experts who can help them.
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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
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