cfa presentation

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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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.

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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.

Customer Value. Right. Now. 20

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

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Effectiveness Tool

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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

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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.)

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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?

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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 martin@raybec.com 416.951.3873

Thank You.

2 www.raybec.com

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