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Presentation Finding And Winning Customers


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Presentation Finding And Winning Customers

  1. 2. A presentation to Chapel Street Business Group by Paul Clement Know your customers <ul><li>Customer Research </li></ul><ul><li>Customer Profiling </li></ul>
  2. 3. Customer research <ul><li>Know who your customers really are; don’t rely on assumptions or your own expectations </li></ul><ul><li>It doesn’t need to be complicated or costly to be effective </li></ul><ul><li>Can be a combination of primary (you make your own) and secondary (you use someone else’s) research </li></ul>
  3. 4. Customer research <ul><li>Remember that this is research you want to use, so keep it practical and avoid the purely academic </li></ul><ul><li>Review your client files, client accounts, contact management system, market and industry reports, trade press, business news etc </li></ul><ul><li>Talk with your customers! </li></ul>
  4. 5. Research – what can you learn? <ul><li>Who are your customers? </li></ul><ul><ul><li>individual consumers </li></ul></ul><ul><ul><li>other businesses </li></ul></ul><ul><ul><li>social enterprises </li></ul></ul><ul><ul><li>distributors </li></ul></ul><ul><ul><li>wholesalers </li></ul></ul><ul><ul><li>agents </li></ul></ul>
  5. 6. Research – what can you learn? <ul><li>What do they buy from you? How much? How often? </li></ul><ul><li>How do they prefer to buy from you? Cash? Credit? Invoice? Finance? Online? In store? </li></ul><ul><li>When do they tend to buy the most? When do they buy the least? Is it sporadic? Is it cyclical? Is it seasonal? </li></ul>
  6. 7. Research – what can you learn? <ul><li>Are there obvious trends? Can you influence these? What factors or circumstances cause them to buy? </li></ul><ul><li>What other needs do your customers have? Can you meet them? Can you partner with someone who can? </li></ul><ul><li>Are there opportunities for you to cross-sell? Can you up-sell? Can you tailor specific services to fill any gaps? </li></ul>
  7. 8. Research – what can you learn? <ul><li>Where do they hang out? What do they like to do? What do they watch? What do they read? Where do they surf on the web? </li></ul><ul><li>Who do they already buy from? What products or services have they bought in the past? Are they pioneers? Do they play it safe? </li></ul>
  8. 9. Why is research useful? <ul><li>Research gives your plans substance - make informed decisions, reduce your risks and CYA </li></ul><ul><li>‘ Failing to plan is planning to fail’ – however, speculation does not make good business planning </li></ul><ul><li>Your marketing and sales campaigns should naturally follow from your research, not the other way round </li></ul>
  9. 10. Why is research useful? <ul><li>What exactly are you selling? To whom? Are you selling many things to many people? Are they all the same or different? Widgets or waffleheimers? </li></ul><ul><li>How should you communicate with your customers? What messages work? Will they see it or hear it? Will they respond? Are you talking ‘to’ them or ‘at’ them? </li></ul>
  10. 11. Things to remember <ul><li>Properly ‘engage’ and excite your customers </li></ul><ul><li>Motivate them to choose you </li></ul><ul><li>Meet and even surpass their needs </li></ul><ul><li>Inspire them to have confidence in you </li></ul>
  11. 12. Things to remember <ul><li>Demonstrate your knowledge of their needs and desires </li></ul><ul><li>Recognise what is important to them </li></ul><ul><li>Make yourself different from your competitors – be more connected, more ‘in tune’ </li></ul><ul><li>Make yourself familiar, safe and credible </li></ul>
  12. 13. Why do your own research? <ul><li>It is more likely to be immediately relevant </li></ul><ul><li>Your data should be more reliable </li></ul><ul><li>It can be more cost effective if done in-house </li></ul><ul><li>Your results should be more specific to your business and your customers </li></ul><ul><li>You will be more likely to use it </li></ul>
  13. 14. Customer profiling <ul><li>Know what types of customers you have; review your own files and accounts </li></ul><ul><li>Demographic profiling </li></ul><ul><ul><li>individuals – income, age, gender, marital status, size of family, education, employment, transport etc </li></ul></ul><ul><ul><li>businesses – sector, size, employees, turnover, products, services, customer base, market share etc </li></ul></ul>
  14. 15. Customer profiling <ul><li>Psychographic profiling – thoughts, preferences, opinions, beliefs, values, reactions, impressions, attitudes etc </li></ul><ul><li>Behaviouristic profiling – actions, motivations, pursuits, interests, hobbies, free time, travel, socialising etc </li></ul><ul><li>Geographic profiling – home, work, infrastructure, climate, customs, culture, religion, fashions, legislation, politics, resources etc </li></ul>
  15. 16. Profiling – what can you learn? <ul><li>What motivates or influences them to buy? </li></ul><ul><li>Exactly who is buying what? </li></ul><ul><li>Who buys more? Who buys less or not as frequently? </li></ul><ul><li>What is their total sales value throughout the year? </li></ul>
  16. 17. Profiling – what can you learn? <ul><li>Who are your ‘bread and butter’ customers </li></ul><ul><li>Who are your ‘wow’ customers? </li></ul><ul><li>Who contributes reliably to your profits? </li></ul><ul><li>Who represents a disproportionate drain on your resources and time? </li></ul>
  17. 18. It’s all about them!
  18. 19. Why research and profiling? <ul><li>segment the market; utilise a niche approach </li></ul><ul><li>allows diversification by targeting specific needs </li></ul><ul><li>positioning specific products or services in the market </li></ul><ul><li>tailor your marketing mix to meet customer needs and preferences </li></ul>
  19. 20. Why research and profiling? <ul><li>gap analysis; is there really no requirement for the product or service or has it just not been exploited yet? </li></ul><ul><li>differentiation; distinguish your offer from your competitors </li></ul><ul><li>source of competitive advantage; develop USPs and ESPs </li></ul><ul><li>aligning your means to meet your ends </li></ul>
  20. 21. Thank you <ul><li>Any questions? </li></ul>
  21. 22. Personal Selling Skills Tim Smith, Winning Pitch
  22. 23. Introductions <ul><li>Tim Smith </li></ul>
  23. 25. I don’t know who you are I don’t know your company I don’t know your company’s products I don’t know what your company stands for I don’t know your company’s customers I don’t know your company’s record I don’t know your company’s reputation Now-what was it you wanted to sell me? McGraw-Hill advert 1958
  24. 26. The UK Sales Mentality?
  25. 27. The UK Sales Mentality?
  26. 28. In selling you are not trying to get somebody to buy something they don’t want You are looking to help someone make a decision Someone who is already interested in you and your products & services
  27. 29. Poor Salespeople… <ul><li>Don’t spend time with customers </li></ul><ul><li>Don’t prepare </li></ul><ul><li>Lack of product knowledge </li></ul><ul><li>Put off closing </li></ul><ul><li>Perfectionists </li></ul><ul><li>Keep on selling </li></ul>
  28. 30. Star Salespeople… <ul><li>Visualise with defined goals & objectives </li></ul><ul><li>Believe in their products / services </li></ul><ul><li>Expect to succeed </li></ul><ul><li>Live in the customers’ world </li></ul><ul><li>Make friends </li></ul><ul><li>Close when the buyer wants to buy </li></ul>
  29. 31. Winning
  30. 33. The difference between winners & losers is small… … the result is HUGE
  31. 34. Wouldn’t it be good if… <ul><li>We had time to prepare? </li></ul><ul><li>We knew what the other person was wanting? </li></ul><ul><li>We were better at negotiating? </li></ul><ul><li>We weren’t so desperate? </li></ul>
  32. 35. Why do people buy from you?
  33. 36. Why do people buy?
  34. 37. Why do people buy? Because they want to be better off Also… … will only buy if THEY believe you are acting in THEIR interests
  35. 38. Buyers only buy if they think you are acting in their interests
  36. 39. Before you go in Planning and preparing
  37. 40. Sales meetings Checklist- The 3Ps <ul><li>Purpose - Why am I going there? </li></ul><ul><li>Process - What am I going to say when I get there ? </li></ul><ul><li>Pay Off - What is in it for us and for them ? (win - win) </li></ul>
  38. 41. What do you need to know? What do they need to know? <ul><li>You have a face-to-face meeting with a potential strategic large customer. </li></ul><ul><li>What questions do you need to ask? </li></ul><ul><li>What questions might they ask you? </li></ul>
  39. 42. What do you need to know? What do they need to know? YOU What their needs & wants are THEM That buying from you is the right decision
  40. 43. Prepare for the meeting
  41. 44. The Personal Selling Process Open Probe Match Close Permission to move to each stage
  42. 45. Opening & Probing
  43. 46. Your Biggest Selling Asset
  44. 47. Matching & Closing
  45. 48. To match you need to find out the BUYER’S NEEDS “ If you were to buy our product what would you need it to do for you?” “ If you were to buy our product what would convince you you’d made the right decision?”
  46. 49. Sales Meeting - Matching Emotional I just want it! Business Performance Finance Personal Make me look great The Buying Motivators
  47. 50. So…. What does he REALLY want..?
  48. 51. £
  49. 52. Defend your price Negotiate on other concessions <ul><li>Free delivery </li></ul><ul><li>Installation </li></ul><ul><li>Trial period </li></ul><ul><li>Training </li></ul><ul><li>Extended warranty </li></ul>
  50. 53. Protect your assets
  51. 54. Avoid Barry Bradley
  52. 55. Avoid Barry Bradley… … “All you can eat” <ul><li>Paid £7.50 </li></ul><ul><li>30 sausages </li></ul><ul><li>20 bacon rashers </li></ul><ul><li>15 fried eggs </li></ul><ul><li>3 tins of baked beans </li></ul><ul><li>6 bowls of cereal </li></ul>
  53. 56. Avoid Barry Bradley… … “All you can eat” <ul><li>Paid £7.50 </li></ul><ul><li>30 sausages </li></ul><ul><li>20 bacon rashers </li></ul><ul><li>15 fried eggs </li></ul><ul><li>3 tins of baked beans </li></ul><ul><li>6 bowls of cereal </li></ul><ul><li>1 1 / 2 croissants </li></ul>
  54. 57. How many Closing Techniques? 108 Sales Closing books on Amazon
  55. 58. Close when your customer wants to buy… … not when you want to sell
  56. 59. Why don’t you give it a try? That will look good on you. Why not try it on? Why not take a test drive?
  57. 60. Alternative Do you want it this week or next? Do you want blue or red? Deliver or pick up?
  58. 61. Ask for the order… … then SHUT UP SILENCE at the end of a close is the only PRESSURE
  59. 62. Ask for the order
  60. 63. <ul><li>The difference between winners & losers is small …the difference in results is HUGE </li></ul><ul><li>Buyers only buy if they think you are acting in their interests </li></ul><ul><li>Understand your sales persona and your strengths and weaknesses </li></ul><ul><li>Prepare for the meeting </li></ul><ul><li>Understand your customer (Live in the customer’s world) </li></ul><ul><li>Protect your assets </li></ul><ul><li>Ask for the order </li></ul>Top tips