Sell More Now With Relationship Strategies

Relationship Strategies Will Help You
Sell More Now.
(You’re already spending the money.)

Customer Value. Right. Now.
1

What’s going on?

2

3

4

5

6

You’ve done all
you can with price
and product.

7

You’ve done all
you can with price
and product.

8

With price and
product optimized

What is your path
to success?

9

The customer
relationship is all
that’s left.

But do we know how
to define it?

10

Let’s define customer
relationship.

11

The definition of
customer relationship is
a bit of a black box.

We can define the
process of developing
relationships.

12

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

13

This makes sense to me.

I want to do this.

14

Hold on a second.

Relationships are for
the long-term. What’s
the short-term payoff?

15

The relationship process
does get short-term results.

16

Cases

17

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.

18

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.”

19


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”

20

Uses customer
Your feedback to

  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

21

Is more satisfied,
Your
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

22

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

23

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”

24


  Importance of Agenda
Items
Screening
 
Differential Diagnosis
 
Treatment Goals
 
Managing Co-morbidities
 
Other
 
  Attendance at the National
Conference
  Requests for additional
information/materials
25

Uses customer
Your feedback to

  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
26

Is more satisfied,
Your
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

27

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.

28

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

29


Preferences

Needs and
Competitive
Interests
Relationships

Objections

Uses customer
Your feedback to

  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.

Are more
Is more satisfied,
Your satisfied, loyal
They
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

32

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

33

“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


 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
 

35

Uses customer
Your feedback to

36

Are more
Is more satisfied,
Your satisfied, loyal
They
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

37

How can you apply
the relationship
process at your
company to sell
more now?

38

Relationship strategy: delivers a repeatable and
scalable process that leverages relationship (rather
than price and product) to sell more now.

39

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
Customer

40

Create value.

41

sales

Be helpful and marketing
responsive.

Integrate investments
in existing activities.

support

Collect
feedback.

Uncover the key data
needs, preferences,
and other essential
feedback.

43

Sell more now.

Use insights to enable
higher conversion today
and lay the foundation for
longer-term success.

44

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

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?

Six things you can do right now

(All testable. All with existing budgets.)

47

Thank your customer and ask
for feedback. Show them you
listened.

You will sell more now.

48

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.


49

Use your administrative contact
(e.g. a statement mailing) to collect
actionable feedback.


50

Present your customers with
a “no-strings-attached” value
program.


51

Give your customers access to
experts who can help them grow
their business.


52

Have every salesperson ask two
key questions in their next sales
call. Take action on what they
hear.


53

Thank You.

2 www.raybec.com
martin@raybec.com
1 416.951.3873

3 Customer Value Program

Sell More Now With Relationship Strategies

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