Acct Mgmt And Loyalty Management
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The document discusses how account managers can grow and keep loyal customers. It defines loyal customers as those who frequently repurchase a brand and recommend it to others. These customers have lower acquisition costs since less effort is required to sell to them. The document outlines the customer buying cycle and decision process. It emphasizes managing customer relationships in the pre-purchase and post-purchase phases to guide customers through the "loyalty bypass" and increase the likelihood they become promoters. Account managers should focus on developing early relationships, meeting expectations, and continuing engagement after the sale to foster long-term loyalty.
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Acct Mgmt And Loyalty Management
- 1. Productivity through effectiveness The Ultimate Sales executive Resource How Account Managers Can Grow and Keep Their Strategic Assets: Loyal Customers Christian Maurer
- 2. Why Loyal Customers Are Important Loyal Customer Account Management • Acquisition cost amortized over • Acquisition cost amortized over several buying cycles several buying cycles • Lower selling cost • Lower selling cost – Know process – Know process – Less Education Effort – Less education effort • Provide Up sell and cross sell • Provide up sell and cross sell opportunities opportunities • Lower cost to win new customers The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 3. Agenda 0 What is a Loyal Customer? 45 Q&A How to Manage Q&A Loyalty? Take Away The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 4. What is a Loyal Customer? “Customer Loyalty in general is the behavior which clients exhibit when they make frequent repeat purchases of a brand “ Sales Process The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 5. Sales Cycle EIV >CV CS<CP Sales Process The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 6. Buying Cycle Pain EIV=PIV Status Quo CS = Cost of Solution Develop Vision CP = Cost of Problem Put to Use EIV = Expected In Use Value CV = Cash Value PIV = Perceived In Use Value EIV >CV CS<CP Sales Process The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 7. Buying Cycle Pain EIV=PIV Status Quo Develop Vision Put to Use EIV >CV CS<CP Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 8. What is a Loyal Customer? “’Promoters’ are loyal enthusiasts who keep buying from a company and urge their friends to do the same.” Sales Process The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 9. Promoter Pain EIV=PIV Status Quo I Recommend! Develop Vision Put to Use EIV >CV CS<CP Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 10. What is a Loyal Customer? 2009 No 2 The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 11. Decision Roadmap Pain EIV=PIV Status Quo Develop Vision Lo ya Put to Use lt yB yp as s EIV >CV CS<CP Loyalty Bypass Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 12. Decision Roadmap Pain EIV=PIV Status Quo Develop Vision ! Lo ya Put to Use lt yB yp as s EIV >CV CS<CP Loyalty Bypass Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 13. Agenda 0 What is a Loyal Customer? 45 Q&A How to Manage Q&A Loyalty? Take Away The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 14. Decision Roadmap Pain EIV=PIV Pre-Purchase Post-Purchase Status Quo Develop Vision Lo ya Put to Use lt yB yp as s EIV >CV CS<CP Loyalty Bypass Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 15. Pre-Purchase Phase Pain Threshold Reached Not reached The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 16. Account Manager’s Strategic Decisions Pain Threshold Reached Not reached Business (Attack) Pre-emptive strike Pre-purchase Advisor Counterattack Rel’ship Status/ Or Damage Control Delay Post-purchase Comp. Pos Specialist Business Attack Counterattack Or Damage Control Pre-Purchase The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 17. Purchasing Phase EIV >CV CS<CP Loyalty By Path Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 18. How Can You Use The Green Lanes? The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 19. Not Necessarily Bad News EIV=PIV Privileged Treatment and Trust earned from Customer Develop Vision Real Or Virtual CS<CP EIV >CV Loyalty Bypass Sales Process Hedge Price/Risk The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 20. Post-Purchase Phase EIV=PIV Post-Purchase Status Quo Put to Use EIV >CV The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 21. Account Manager’s Duty When you have formed “partnerships” with strategic suppliers, what benefits did you expect and what did you actually receive? The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 22. Account Manager’s Duty When you have formed “partnerships” with strategic suppliers, what benefits did you expect and what did you actually receive? 70% 60% 63% Loyalty Expected Benefit Benefit Received 50% Gap 47% 40% 37% 30% 33% 32% 28% 20% 10% 23% 28% 11% 6% 11% 6% 0% Integrated Commitment Deeper insight Gain Sharing Reduce lead information of dedicated into product competitive price/cost time for systems personnel plans advantage risks product development The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 23. Agenda 0 What is a Loyal Customer? 45 Q&A How to Manage Q&A Loyalty? Take Away The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 24. Take Away • Focus on the pre-purchase and post-purchase phases • Enter the pre-purchase phase as early as possible • Be honest in what you promise • Do not close deals. Instead develop and foster relationships The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved
- 25. Productivity through effectiveness The Ultimate Sales Executive Resource c_a_maurer@ceoexpress.com http://ultimatesalesexecresource.blogspot.com/ The Ultimate Sales Executive Resource © 2009 Christian Maurer All rights reserved