Defines the relationship process for creating value; a roadmap for making the process scalable and repeatable; and gives you six things that you can do to SELL MORE NOW.
12. The definition of
customer relationship is
a bit of a black box.
We can define the
process of developing
relationships.
Customer Value. Right. Now.
12
13. Your Is helpful and
Company responsive.
Your Provides feedback
Customer and insight.
Uses customer
Your feedback to
Company create value.
Is more satisfied,
Your
loyal and profitable.
Customer
Customer Value. Right. Now.
13
14. This makes sense to me.
I want to do this.
Customer Value. Right. Now.
14
15. Hold on a second.
Relationships are for
the long-term. What’s
the short-term payoff?
Customer Value. Right. Now.
15
18. Admin Case:
Insurance Beneficiary Mailing
Insurance carrier serves the education
community
Administrative requirement 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.
18
19. 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.
19
20. 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.
20
21. 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.
21
22. Is more satisfied,
Your
loyal and profitable.
Customer
Results
Short-term: Generated 15% 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.
22
23. Marketing Case:
Pharmaceutical Advisory Board
Small event for key customers to garner insight
and establish strategy for the broader market
Broader community (prescribing and non-
prescribing) are not engaged in the process
Opportunity to use the relationship process for
greater impact in the marketplace
Customer Value. Right. Now.
23
24. Your Is helpful and
Company responsive.
“Janssen-Ortho regularly seeks feedback and
insight from leading experts regarding issues
most relevant to our brands and the physicians
that prescribe them.”
“…The insights you share
with us will direct the
conversation at the
Advisory Board meeting”
Customer Value. Right. Now.
24
25. Your Provides feedback
Customer and insight.
Importance of Agenda
Items
Screening
Differential Diagnosis
Treatment Goals
Managing Co-morbidities
Other
Attendance at the National
Conference
Requests for additional
information/materials
Customer Value. Right. Now.
25
26. Uses customer
Your feedback to
Company create value.
Thank responders and send summary of
Advisory Board discussion.
Re-engage and share results with non-
responders
Offer additional support materials from
Medical Information Services team
Responses sent to Sales force as
suggested discussion at next meeting
Customer Value. Right. Now.
26
27. Is more satisfied,
Your
loyal and profitable.
Customer
Results
Participation (response) rate: 18%
Short-term:
• Enables sales dialogue based on stated attitudes.
• Validates segmentation.
• Indications of changes in prescribing behaviour.
Long-term:
• Opens door to subsequent rounds of feedback-based
communication
• Reinforces commitment to supporting physicians
Customer Value. Right. Now.
27
28. Sales Case:
Financial Services Prospecting
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.
28
29. Your Is helpful and
Company responsive.
Invitation to receive timely insights
and articles sent from Financial
Advisor
Advisor follows-up with a call
Deliver a helpful, responsive
experience
Customer Value. Right. Now.
29
30. Your Provides feedback
Customer and insight.
Preferences
Needs and
Competitive
Interests
Relationships
Objections
31. Uses customer
Your feedback to
Company create value.
Thank the prospect
Send selected articles of
interest over time
Earning the right to have a
conversation about products
and services
Provide Sales with support
material.
32. Are more
Is more satisfied,
Your satisfied, loyal
They
loyal and profitable.
Customer and profitable.
Results
Short-term: Relationship approach yields
160% greater sales (prospect conversion)
over control
Long-term: Feedback results in more
effective sales and marketing based on:
• Stated needs
• Uncovered opportunities
Results have held for over four years
Customer Value. Right. Now.
32
33. Service Case:
The Call Center
Property and Casualty (P&C) insurance carrier
They speak with a very high percentage of their
customers for service related issues throughout the
year
Service contacts are typically being used to engage
in sales efforts
The relationship process can be used to
dramatically increase success
Customer Value. Right. Now.
33
34. “Thank you for being our customer. It is very important
to us to better understand your needs and preferences
so that we can satisfy them more effectively.”
Sale
Issue
Inbound Call
Resolved
No Sale
Initiate Collect
Dialogue Feedback
Automated
Relationship
Sales Program
No Close
Feedback The Call
35. Your Provides feedback
Customer and insight.
Feedback:
What are we doing well?
What could we be doing better?
Do you intend to renew?
Feedback then combined
with historical data:
Affinity group
Renewal date
Tenure
Cohort statistics
Demographic, geographic
Customer Value. Right. Now.
35
36. Uses customer
Your feedback to
Company create value.
Customer Value. Right. Now.
36
37. Are more
Is more satisfied,
Your satisfied, loyal
They
loyal and profitable.
Customer and profitable.
Results
Short-term:
• Increase sales more than 5.6%
• 20% of all respondents self-identified
for cross-sell
Long-term:
• Retention holds over long term
The simple act of saying “thank you”
generates more sales now
Customer Value. Right. Now.
37
38. How can you apply
the relationship
process at your
company to sell
more now?
Customer Value. Right. Now.
38
39. Relationship strategy: delivers a repeatable and
scalable process that leverages relationship (rather
than price and product) to sell more now.
Customer Value. Right. Now.
39
40. Your Is helpful and
Company responsive.
Four key
elements in the
relationship Provides feedback
Your
process. and insight.
Customer
How do you Uses customer
Your feedback to
make this Company create value.
repeatable and
scalable?
Is more satisfied,
Your
loyal and profitable.
Customer
Customer Value. Right. Now.
40
42. sales
Be helpful and marketing
responsive.
Integrate investments
in existing activities.
support
43. Collect
feedback.
Uncover the key data
needs, preferences,
and other essential
feedback.
Customer Value. Right. Now.
43
44. Sell more now.
Use insights to enable
higher conversion today
and lay the foundation for
longer-term success.
Customer Value. Right. Now.
44
45. Relationship strategies are powerful
when applied to each stage of the
lifecycle.
Reactivate
Retain
Referral
Acquisition
Cross-sell
Up-sell
Welcome
Prospect Active Customer Inactive
46. Relationship strategies are powerful when
applied to each strategic segment.
Why are customers in
the segment?
What are the drivers
that will change their
behaviour?
47. Six things you can do right now
(All testable. All with existing budgets.)
Customer Value. Right. Now.
47
48. Thank your customer and ask
for feedback. Show them you
listened.
You will sell more now.
Customer Value. Right. Now.
48
49. 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.
You will sell more now.
Customer Value. Right. Now.
49
50. Use your administrative contact
(e.g. a statement mailing) to collect
actionable feedback.
You will sell more now.
Customer Value. Right. Now.
50
51. Present your customers with
a “no-strings-attached” value
program.
You will sell more now.
Customer Value. Right. Now.
51
52. Give your customers access to
experts who can help them grow
their business.
You will sell more now.
Customer Value. Right. Now.
52
53. Have every salesperson ask two
key questions in their next sales
call. Take action on what they
hear.
You will sell more now.
Customer Value. Right. Now.
53
54. Thank You.
2 www.raybec.com
martin@raybec.com
1 416.951.3873
3 Customer Value Program