Achieving rapid & sustainable growth
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6 ways to achieve rapid and sustainable growth in your business.
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Achieving rapid & sustainable growth
- 1. Six ways to achieving rapid & sustainable business growth Robin Mar, Eleven Solutions
- 2. In a crisis be aware of the danger – but recognize the opportunity. John F. Kennedy elevensolutions.co.uk
- 3. Six ways to achieve rapid & sustainable growth 1. Maximise the value from your existing customers 2. Move from Product to Whole Solution 3. Extend your channels – with and through 4. Innovate and differentiate 5. Shift your sales performance curve 6. Think and act like a start-up elevensolutions.co.uk
- 4. 1. Maximise the value from your existing customers Focus on:- • Recency • Frequency • Value It costs 7x more to win business from a new customers as it does to get repeat business from an existing customer elevensolutions.co.uk
- 5. Recency: When did your customers last purchase from you? Could you improve your How do you reengage welcome and service with lapsed customers? to new customers? elevensolutions.co.uk
- 6. Increasing frequency of purchase What are the differences between your best and your average customer? Can you identify different patterns of behaviour?
- 7. Increasing frequency of purchase How could you change your customers’ purchasing behaviour? elevensolutions.co.uk
- 8. Value Increasing average order value What We Sell EXISTING NEW •Add-ons Selling existing Developing new EXISTING propositions to existing propositions for existing •Volume discounts market markets •Rebates Market Proposition Penetration Development •Associated products Who we sell to Market Diversification Development NEW Extending existing Developing new propositions to new propositions for new markets markets elevensolutions.co.uk
- 9. Recency, Frequency, Value Understanding RFV also helps you build a richer picture of your most loyal and valuable customers and customer groups. elevensolutions.co.uk
- 10. 2. From Product to Whole Solution A 180 degree Understand your view of your customers’ value organisation chain Consider how you can increase your influence elevensolutions.co.uk
- 11. 2. From Product to Whole Solution Understand your customers’ value chain elevensolutions.co.uk
- 12. Virgin Atlantic’s outside in view Moments of Getting to Check-in Comfort until In-Flight Arrival Getting to Truth The airport Flight Comfort Destination •Stressful •Long queues, •Want/need to •Planes are •Unkempt •Traffic Feelings uncomfortable by •Complicated frustrating work •Unshowered •Unfamiliar place •Parking •Unnecessary •Want/need to nature •Clothes a mess •Lugging (i.e. only for relax •Long time spent the airlines) in seat •Boredom Customer Experience Service •Transport to •“Drive-through” •Clubhouse with •Full sleeper seats •Arrival valet •Chauffeured Solutions airport provided check-in Internet access, •Mood lighting •18 showers delivery to final •Driver handles •Airline knows fax, library •Gradual dawn •Makeup & destination luggage where you are •Salon, massages, •Bar shaving facilities•Comfortable beauty •“You decide” •Heated floors ride •Sound room, meals •Clothes presseddoor to door driving range, •Hot & cold •Knowledgeable skiing machine breakfasts local driver Source: Ogilvy One elevensolutions.co.uk
- 13. 3. Extend your channels Selling with channel partners to extend your offering Selling through partners to extend your sales coverage elevensolutions.co.uk
- 14. Selling with and through What We Sell EXISTING NEW Selling existing Developing new propositions to existing propositions for existing EXISTING market markets Channels to Market Proposition sell with Penetration Development Who we sell to Market Diversification Development NEW Extending existing Developing new propositions to new propositions for new markets markets Channels to sell With & through Channels to sell through elevensolutions.co.uk
- 15. Selling through to extend your coverage Offer Market Market Market Market Market Market Market Market A A Market B B A A B B A elevensolutions.co.uk
- 16. Selling through to extend your coverage Offer Selling through channel partners who own a market space Partner Partner A B Market Market Market Market Market Market Market Market A A Market B B A A B B A elevensolutions.co.uk
- 17. Selling with to extend your offering 2+2=5
- 18. Selling with channel partners to extend your offer Selling with channel partners to extend your offering IT Maintenance Cash Security Site ATM elevensolutions.co.uk
- 19. 4. Innovate and Differentiate Seek uncontested market space elevensolutions.co.uk
- 20. Focusing on the non-customer Non Customers Conscious Unconscious Satisfied customers Can provide the most valuable insights Dissatisfied customers elevensolutions.co.uk
- 21. Yellow Tail listened to unconscious non-customers Established a new approach to wine packaging, marketing and retailing elevensolutions.co.uk
- 22. How to differentiate in the games market Competition focused on performance
- 23. Wii targeted unconscious non-customers elevensolutions.co.uk
- 24. 5. Shift your sales performance curve A high performing sales force can boost the share of a customer’s business by an average of 8 to 15 percentage points. From Good *McKinsey survey of 1,200 businesses 2010 • 5% shift in performance across the core • Yields 70% more revenue • Than a 5% shift in high Low Core High performers* Performance *SEC research 2009 elevensolutions.co.uk
- 25. 5. Shift your sales performance curve From Good To Great Low Core High Low Core High Performance Performance Migrate the attributes of the high performers to the core. To transform performance from being good to being great elevensolutions.co.uk
- 26. Achieving Sales Excellence Strategy Major Channels Account Programme Metrics Customer Sales Vision & Strategy Segmentation KPIs Sales Sales Proposition Results Customer Development Pay Plan Metrics Current Potential & Market Customer & Vs Capability Impact Focus Experience Incentives Rewards CRM Recruit Sales Talent Sales Processes Bids & Tenders Benchmark Management & Tools Up-skill Sales Performance Sales Sales Opportunity Coach Management Management Tools Process Management Select interventions that will deliver the maximum results elevensolutions.co.uk
- 27. 6. Think like a start-up - ditch the comfy shoes Consider what you would do if:- a. You lost your 3 best customers? b. You were legally prevented from selling your best selling product or service? c. You were an outsider newly appointed to your job? elevensolutions.co.uk
- 28. …and commit to change. “Until one is committed there is hesitancy, the chance to draw back, always ineffectiveness….the moment one definitely commits oneself, then providence moves too. All sorts of things occur to help one that would never have occurred.” Goethe elevensolutions.co.uk
- 29. Robin Mar W: elevensolutions.co.uk E: robin@elevensolutions.co.uk T: +44 (0) 7802 791823