CFA Presentation

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Relationship Strategy Presentation to Canadian Fraternal Association. May 2009.

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CFA Presentation

  1. 1. Reclaiming Customer Relationships: The Lost Art of Paying Attention May 22nd, 2009 Customer Value. Right. Now. 1
  2. 2.   Sales & Marketing Consultants   We define and execute relationship strategies   New Customer Program Sell more now.   Customer Development Program The right people doing the right things   We use technology for leverage, all the time. scale, and repeatability   SalesLink   Sales effectiveness   Sales activity management   Customer feedback Customer Value. Right. Now. 2
  3. 3. We help companies define and execute their key relationship strategies Customer Value. Right. Now. 3
  4. 4. Agenda   Value Scorecard   Focus on Relationships   Case Studies   Applying these concepts in your organization Customer Value. Right. Now. 4
  5. 5. 6.2 Full Potential 7.1 6.4 6.3 New business 7.8 Customer value 6.3 7.4 6.7 6.3 Marketing Strategies Technology 6.1 Customer Value. Right. Now. 5
  6. 6. Let’s talk relationships.
  7. 7. There’s not a lot more that can be done with price and product. Customer Value. Right. Now. 7
  8. 8. With price and product optimized What is your path to success? Customer Value. Right. Now. 8
  9. 9. The customer relationship is all that’s left. But do we know how to define it? Customer Value. Right. Now. 9
  10. 10. Think about a great customer experience. What made that experience so good?
  11. 11. Relationships Deliver an Experience. Experiences are Emotional.
  12. 12. Your Is helpful and Company responsive. Your Provides feedback Customer and insight. Uses customer Your feedback to Company create value. Your Is more satisfied, Customer loyal and profitable. Customer Value. Right. Now. 12
  13. 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. 13
  14. 14. Customer Value. Right. Now. 14
  15. 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. 15
  16. 16. The Relationship Strategy Process Customer Experience Create Customer Value Sales Marketing & Engagement Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 16
  17. 17. Manage the Experience: Optimal Contact Stream   Define the value   Optimal contact stream for No Contact engagement Attempt Attempt Follow-up   # attempts   # days apart   Message scripts Pre-call No Contact Attempt Attempt   No contact follow-up Warm-up Follow-up   Pre-call marketing   Pre-call marketing creative, copy, Pre-call Pre-call execution, measurement Attempt Attempt Warm-up Warm-up   Call/meeting support   Approach   Dialogue strategy Pre-call Pre-call Call Call   Call scripts Warm-up Warm-up Follow-up   Objection handling   Feedback management   Call follow-up marketing creative, copy, execution, measurement Customer Value. Right. Now. 17
  18. 18. You’ve done all you can with price and product. Customer Value. Right. Now. 18
  19. 19. Cases 3 cases. All different levels of complexity. All elegant. All powerful.
  20. 20. Cases Effectiveness ✔ Tool Micro Sites Feedback Mgt. Lead Scoring Feedback Mgt. Response Mgt. Qualification ✔ Response Mgt. Relationship Mktg. Prospect Mgt. Sales Mktg. Edit Sales Meeting F/U ✔ Response Mgt. Feedback Mgt. Activity Management Feedback Triggered Strategies Sales Support Relationship Business Marketing Planning Feedback Mgt. Centre Tool Relationship Mktg. Triggered Strategies Customer Value. Right. Now. 20
  21. 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. 21
  22. 22. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 22
  23. 23. Relationship Program Plan ROI Customer Value. Right. Now. 23
  24. 24. Reps Can Edit the Program and Plan Who They Will Call Bulk Assignment Select Customers Edit Status Program Summary Call Dates Customer Value. Right. Now. 24
  25. 25. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 25
  26. 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. 26
  27. 27. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 27
  28. 28. Key Relationship Data Preferences Needs and Interests Competitive Relationships Objections Customer Value. Right. Now. 28
  29. 29. Automated Fulfillment to Info Requests Customer Value. Right. Now. 29
  30. 30. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 30
  31. 31. Sales Support Customer Value. Right. Now. 31
  32. 32. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 32
  33. 33. 1:1 Marketing – Email Selections Customer Value. Right. Now. 33
  34. 34. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 34
  35. 35. Reps Activities are Updated with Call Requests Customer Value. Right. Now. 35
  36. 36. Sales Activity Management Customize Report Filters Review Key Metrics Customer Value. Right. Now. 36
  37. 37. The Shift: From Sales Coaching to Management Feedback Sales Activity Strategy & Analysis Sales Management Sales Desired State Performance Sales Activity Effectiveness Sales Review Management Management Training Sales Sales data & key Calls, meetings, effectiveness Current State success metrics proposals, sales data, Coaching activities Customer Value. Right. Now. 37
  38. 38. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 38
  39. 39. Test, Learn & Roll-Out Strategy Customer Value. Right. Now. 39
  40. 40. Results   Results are statistically Overall Conversion valid with a confidence Relationship Prospect y% interval of 95% Program   Test and control Control Group x% groups were tracked Incremental Lift 159% for over 48 months Customer Value. Right. Now. 40
  41. 41. Teachers Life: Insurance Beneficiary Mailing   Administrative process to confirm beneficiary status   High cost with little/no tie to sales   Opportunity to use relationship process to sell more now. Customer Value. Right. Now. 41
  42. 42. Your Is helpful and Company responsive. “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.” Customer Value. Right. Now. 42
  43. 43. Your Provides feedback Customer and insight. Personalized Microsite   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” Customer Value. Right. Now. 43
  44. 44. Uses customer Your feedback to Company create value.   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 Customer Value. Right. Now. 44
  45. 45. Your Is more satisfied, Customer loyal and profitable. Results  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 Customer Value. Right. Now. 45
  46. 46. The best follow-up each and every time. Customer Value. Right. Now. 46
  47. 47. Best Practice: Relationship Strategies Customer Experience Create Customer Value Sales Marketing & Activity Marketing & Support Support Feedback Management Technology Plan – Execute - Manage - Learn Customer Value. Right. Now. 47
  48. 48. Put your Best Foot Forward   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 Customer Value. Right. Now. 48
  49. 49. Predetermine your ‘Best’ messaging for every occasion. Use technology. Make it easy to execute. Micro-Sites Personalized HTML Email Websites Personal PDF’s Customer Value. Right. Now. 49
  50. 50. 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. 50
  51. 51. Pringle LifestyleFit Program: Micro-site Customer Value. Right. Now. 51
  52. 52. 3 Easy Steps Select Contact Select Content Send Customer Value. Right. Now. 52
  53. 53. Customize Categories and Topics with Copy, Links to URLs, Micro-Sites and PDFs   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 Customer Value. Right. Now. 53
  54. 54. Content Management: Categories Customer Value. Right. Now. 54
  55. 55. Content Management: Topics Customer Value. Right. Now. 55
  56. 56. Reporting Who, When, Opened, Clicks Click detail Email sent Customer Value. Right. Now. 56
  57. 57. Mobile and PC Customer Value. Right. Now. 57
  58. 58. How can you apply the relationship process in your organization to sell more now? Customer Value. Right. Now. 58
  59. 59. Your Is helpful and Company responsive. Four key elements in the relationship Your Provides feedback process. Customer and insight. How do you Your Uses customer feedback to make this Company create value. repeatable and scalable? Your Is more satisfied, Customer loyal and profitable. Customer Value. Right. Now. 59
  60. 60. Create value. Customer Value. Right. Now. 60
  61. 61. sales Be helpful and marketing responsive. Integrate investments in existing activities. support Customer Value. Right. Now. 61
  62. 62. Collect feedback. Uncover the key data needs, preferences, and other essential feedback. Customer Value. Right. Now. 62
  63. 63. Sell more now. Use insights to enable higher conversion today and lay the foundation for longer-term success. Customer Value. Right. Now. 63
  64. 64. Automated Marketing Activities Marketing Programs New Client Welcome Client Referrals Acquire New Clients Competitive Response Needs Review Client Appreciation Seminar Satisfaction Survey Keep in Touch Retention Occasion Cards Client Education Product Launch Business Building Tools Build my Brand Key Support Collateral Micro-sites Target Prospect Lists Customer Value. Right. Now. 64
  65. 65. Relationship strategies are powerful when applied to each stage of the lifecycle. Retain Reactivate Referral Acquisition Cross-sell Up-sell Welcome Prospect Active Customer Inactive
  66. 66. Six things you can do right now (All testable. All with existing budgets.) Customer Value. Right. Now. 66
  67. 67. Thank your customer and ask for feedback. Show them you listened. Customer Value. Right. Now. 67
  68. 68. 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. Customer Value. Right. Now. 68
  69. 69. Use your administrative contact (e.g. a statement mailing) to collect actionable feedback. Customer Value. Right. Now. 69
  70. 70. Present your customers with a “no-strings-attached” value program. Customer Value. Right. Now. 70
  71. 71. Give your customers access to experts who can help them. Customer Value. Right. Now. 71
  72. 72. Have every salesperson ask two key questions in their next sales call. Take action on what they hear. Customer Value. Right. Now. 72
  73. 73. Thank You. 2 www.raybec.com martin@raybec.com 1 416.951.3873 6.2 7.1 6.4 6.3 3 7.8 Customer Value Program 6.3 7.4 6.7 6.3 6.1

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