A Structured Approach to Customer Acquisition
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Bob Apollo of Inflexion-Point Strategy Partners explains how companies can benefit from a structured approach to customer acquisition
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A Structured Approach to Customer Acquisition
- 1. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 1 Implementing a Structured Approach to Customer Acquisition
- 2. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 2 4 Critical Priorities
- 3. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 3 Customer Intimacy Understanding what they really care about… …and knowing what you can do to help
- 4. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 4 Market Intimacy Organisational Intimacy Stakeholder Intimacy 3 Layers of Intimacy…
- 5. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 5 Market Intimacy Market Dynamics Market Trends Legislation Regulation Competition
- 6. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 6 Market Intimacy Organisational Intimacy Market Share Competitive Position Leader/Follower SystemsInitiatives Market Dynamics Market Trends Legislation Regulation Competition
- 7. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 7 Market Intimacy Organisational Intimacy Stakeholder Intimacy Roles Responsibilities Goals Influence Relationship Market Share Competitive Position Leader/Follower SystemsInitiatives Market Dynamics Market Trends Legislation Regulation Competition
- 8. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 8 2 Approaches to Market Segmentation… Establish the Borders Highlight the Hotspots
- 9. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 9 Ideal Customer Profiles Target Organisations Demographic Characteristics • Size, Sector and Location… Structural Characteristics • Long-term attractiveness… Situational Characteristics • Short-term attractiveness… Behavioural Characteristics • Chances / Ease of doing business… Key Stakeholders • Typical job titles • Role in the decision process • Key priorities and challenges • What matters to them • Cost of Inaction • Our value to them • What sets us apart
- 10. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 10 Macro Insights Things that are generally true for your target markets Micro Insights Things that are specifically important to your prospects +
- 11. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 11 A Flawed Analogy… Artisans Automatons NOT
- 12. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 12 Customer Acquisition System Satisfied with the Status Quo Open to the possibility of change Deciding whether they need to act Defining their decision criteria Selecting the best available option Validating their decision Customer A buying process, not a selling process Stages defined by the evolution of the buying decision process Progress measured by the buyer’s behaviour and not sales activity
- 13. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 13 Buyer-defined Milestones Satisfied with the Status Quo Open to the possibility of change Deciding whether they need to act Defining their decision criteria Selecting the best available option Validating their decision Customer A credible contact with an active interest A clear need that we can satisfy really well A compelling reason to take action Favourable decision process and criteria Told we have been selected – finalise terms We receive a valid bookable purchase order
- 14. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 14 Aligned Activities Satisfied with the Status Quo Open to the possibility of change Deciding whether they need to act Defining their decision criteria Selecting the best available option Validating their decision Customer During each stage… The Prospect’s Perspective ❯ What are their priorities? ❯ What do they need to know? ❯ Where are they getting their information? ❯ What do they expect of us? ❯ How will they decide whether to proceed? ❯ What could hold them back? Our Perspective ❯ What are our priorities? ❯ What do we need to know? ❯ How can we get the information? ❯ What we expect of them? ❯ How will we decide whether to proceed? ❯ What could hold us back?
- 15. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 15 Aligned Activities Satisfied with the Status Quo Open to the possibility of change Deciding whether they need to act Defining their decision criteria Selecting the best available option Validating their decision Customer
- 16. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 16 3 levels of intimacy Hotspots not boundaries Macro insights<>micro insights Artisans not automatons Easy buy not hard sell
- 17. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 17 Inflexion-Point Revenue Growth Architecture Prospects Customers Continuous Learning
- 18. Call us: 08453 707 024 or visit: www.weareoctopusgroup.netwww.weareoctopusgroup.net | www.inflexion-point.com 18 Revenue Growth Architects Transforming Sales Effectiveness visit www.inflexion-point.com
Editor's Notes
- INFLEXION-POINT HELP B2B COMPANIES SYSTEMATICALLY SELL MORE B2B SALES + MARKETING DESCRIBED AS ART / SCIENCE SCIENCE INCREASINGLY IMPORTANT THIRD DIMENSION: ENGINEERING / CLOSE COMPANION ARCHITECTURE DESIGN AND IMPLEMENT SYSTEMS THAT ARE FIT FOR PURPOSE
- ANYONE NOT IMPACTED BY AT LEAST ONE PROBABLY IN THE WRONG PLACE (OR DEAD) WIN DEALS FASTER THAN YOU LOOSE THEM 3:1 PERFORMANCE GAP ANYONE RECOGNISE THEM ALL NO SURPRISE: THEY ARE RELATED ISSUES ALL POINT TO ONE ROOT CAUSE
- ROOT CAUSE IS A LACK OF CUSTOMER INTIMACY AS WE’LL SEE, INTIMACY HAS MANY DIMENSIONS *CLICK* BOILS DOWN TO >
- SUGGEST THAT WE NEED TO DEVELOP 3 LAYERS OF INTIMACY
- MARKET: MACRO INSIGHTS ORGANISATION: WHO TO TARGET / WHAT MATTERS TO THEM STAKEHOLDER: WHO CAN DECIDE / WHAT THEY CARE ABOUT
- MARKET: MACRO INSIGHTS ORGANISATION: WHO TO TARGET / WHAT MATTERS TO THEM STAKEHOLDER: WHO CAN DECIDE / WHAT THEY CARE ABOUT
- MARKET: MACRO INSIGHTS ORGANISATION: WHO TO TARGET / WHAT MATTERS TO THEM STAKEHOLDER: WHO CAN DECIDE / WHAT THEY CARE ABOUT
- BEFORE WE MOVE OFF MARKETS, WANT TO SPEND A FEW MOMENTS ON SEGMENTATION TRADITIONAL SEGMENTATION DEFINES BORDERS: SIZE, SECTOR, LOCATION TENDS TO TREAT ALL PROSPECTS WITHIN THE BOX THE SAME IT ISN’T THAT WAY > INCREDIBLY WASTEFUL MODERN SEGMENTATION HIGHLIGHTS THE HOTSPOTS CAN ONLY BE ACHIEVED AS A RESULT OF INTIMACY
- DEMOGRAPHICS JUST THE TABLE STAKES YET MANY COMPANIES STOP THERE TOP SALES PEOPLE KNOW BETTER STRUCTURAL, SITUATIONAL, BEHAVIOURAL SAME FOR STAKEHOLDERS > BUYER PERSONA GET UNDER THEIR SKIN GET INTIMATE
- BUT NO MATTER HOW GOOD YOUR RESEARCH, ONLY SEE THE BIG PATTERNS MUST BE COMBINED WITH MICRO INSIGHTS COMMUNICATION > CONVERSATION > EXPLORATION > ALIGNMENT *CLICK* FEED EACH OTHER
- SO HOW TURN THESE INTO A SCALABLE, REPEATABLE SYSTEM SOME TALK ABOUT CUSTOMER FACTORY NOT A BAD ANALOGY, BUT A FUNDAMENTAL FLAW NEED ARTISANS, NOT AUTOMATONS WORKING WITHIN A PROCESS WITHOUT SACRIFICING CURIOSITY OR CREATIVITY SKELETON, NOT A CAGE
- IF YOU WANT TO ACQUIRE MORE CUSTOMERS, SELL THE WAY THEY WANT TO BUY NOT A SALES PROCESS, BUT A BUYING DECISION JOURNEY EVOLVE, STOP, ABANDON, GO BACKWARDS SUPREMELY NON-LINEAR > % PROBABILTY MEASURE PROGRESS
- NOT JUST THE STAGES, BUT THE MILESTONES THEIR MILESTONES, NOT YOURS SUBMITTING A PROPOSAL NOT AN ADVANCE
- UNDERSTANDING STARTS WITH THE PROSPECT
- ALIGN ACTIVITIES TO THE BUYING PROCESS PREDICTABLE PATTERNS FACILITATE THEIR DECISION TO MOVE FORWARD WITH YOU
- SHARED A FEW PRINCIPLES REALLY ONLY SCRATCHED THE SURFACE PERMIT ME ONE SLIDE ABOUT US WE HELP COMPANIES DESIGN AND IMPLEMENT SCALABLE CUSTOMER ACQUISITION SYSTEMS SPANS SALES AND MARKETING IDENTIFY, TARGET, ATTRACT, QUALIFY, PERSUADE AND CLOSE CLEAR FOUNDATIONS, SIMPLE DELIVERABLES, SUSTAINING TECHNOLOGIES WITHOUT INTIMACY, TOOLS ARE USELESS