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Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
A presentation to Chapel Street Business Group by Paul Clement
Know your customers
1. Customer Research
2. Customer Profiling
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Customer research
• Know who your customers really are; don’t rely on assumptions or your own expectations
• It doesn’t need to be complicated or costly to be effective
• Can be a combination of primary (you make your own) and secondary (you use someone else’s) research
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Customer research• Remember that this is research you want to use, so
keep it practical and avoid the purely academic
• Review your client files, client accounts, contact management system, market and industry reports, trade press, business news etc
• Talk with your customers!
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Research –what can you learn?• Who are your customers?
– individual consumers
– other businesses
– social enterprises
– distributors
– wholesalers
– agents
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Research –what can you learn?
• What do they buy from you? How much? How often?
• How do they prefer to buy from you? Cash? Credit? Invoice? Finance? Online? In store?
• When do they tend to buy the most? When do they buy the least? Is it sporadic? Is it cyclical? Is it seasonal?
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Research –what can you learn?
• Are there obvious trends? Can you influence these? What factors or circumstances cause them to buy?
• What other needs do your customers have? Can you meet them? Can you partner with someone who can?
• Are there opportunities for you to cross-sell? Can you up-sell? Can you tailor specific services to fill any gaps?
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Research –what can you learn?
• 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?
• Who do they already buy from? What products or services have they bought in the past? Are they pioneers? Do they play it safe?
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Why is research useful?
• Research gives your plans substance - make informed decisions, reduce your risks and CYA
• ‘Failing to plan is planning to fail’ – however, speculation does not make good business planning
• Your marketing and sales campaigns should naturally follow from your research, not the other way round
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Why is research useful?• 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?
• 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?
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Things to remember• Properly ‘engage’ and excite your customers
• Motivate them to choose you
• Meet and even surpass their needs
• Inspire them to have confidence in you
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Things to remember• Demonstrate your knowledge of their needs and
desires
• Recognise what is important to them
• Make yourself different from your competitors – be more connected, more ‘in tune’
• Make yourself familiar, safe and credible
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Why do your own research?• It is more likely to be immediately relevant
• Your data should be more reliable
• It can be more cost effective if done in-house
• Your results should be more specific to your business and your customers
• You will be more likely to use it
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Customer profiling
• Know what types of customers you have; review your own files and accounts
• Demographic profiling individuals – income, age, gender, marital status,
size of family, education, employment, transport etc businesses – sector, size, employees, turnover,
products, services, customer base, market share etc
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Customer profiling
• Psychographic profiling – thoughts, preferences, opinions, beliefs, values, reactions, impressions, attitudes etc
• Behaviouristic profiling – actions, motivations, pursuits, interests, hobbies, free time, travel, socialising etc
• Geographic profiling – home, work, infrastructure, climate, customs, culture, religion, fashions, legislation, politics, resources etc
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Profiling –what can you learn?• What motivates or influences them to buy?
• Exactly who is buying what?
• Who buys more? Who buys less or not as frequently?
• What is their total sales value throughout the year?
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Profiling –what can you learn?• Who are your ‘bread and butter’ customers
• Who are your ‘wow’ customers?
• Who contributes reliably to your profits?
• Who represents a disproportionate drain on your resources and time?
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
It’s all about them!
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Why research and profiling?• segment the market; utilise a niche approach
• allows diversification by targeting specific needs
• positioning specific products or services in the market
• tailor your marketing mix to meet customer needs and preferences
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Why research and profiling?• gap analysis; is there really no requirement for the
product or service or has it just not been exploited yet?
• differentiation; distinguish your offer from your competitors
• source of competitive advantage; develop USPs and ESPs
• aligning your means to meet your ends
Copyright © 2008 Elite Edge Marketing Consultants Ltd. All rights reserved. www.elite-edge.co.uk
Thank you
Any questions?
Winning Pitch © Winning Pitch plc
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
Winning Pitch © Winning Pitch plc
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
Winning Pitch © Winning Pitch plc
Poor Salespeople…
Don’t spend time with customers
Don’t prepare
Lack of product knowledge
Put off closing
Perfectionists
Keep on selling
Winning Pitch © Winning Pitch plc
Star Salespeople…
Visualise with defined goals & objectives
Believe in their products / services
Expect to succeed
Live in the customers’ world
Make friends
Close when the buyer wants to buy
Winning Pitch © Winning Pitch plc
The difference between
winners & losers is small…
…the result is HUGE
Winning Pitch © Winning Pitch plc
Wouldn’t it be good if…
We had time to prepare?
We knew what the other person was wanting?
We were better at negotiating?
We weren’t so desperate?
Winning Pitch © Winning Pitch plc
Why do people buy?
Because they want to be better off
Also…
…will only buy if THEY believe you are acting
in THEIR interests
Winning Pitch © Winning Pitch plc
Sales meetings Checklist- The 3Ps
Purpose - Why am I going there?
Process - What am I going to say when I get there ?
Pay Off - What is in it for us and for them ? (win - win)
Winning Pitch © Winning Pitch plc
What do you need to know?What do they need to know?
You have a face-to-face meeting with a potential strategic large customer.
What questions do you need to ask?
What questions might they ask you?
Winning Pitch © Winning Pitch plc
What do you need to know?What do they need to know?
YOUWhat their needs & wants are
THEMThat buying from you is the right decision
Winning Pitch © Winning Pitch plc
Open
Probe
Match
Close
The Personal Selling Process
Permission to move to each stage
Winning Pitch © Winning Pitch plc
“If you were to buy our product what would you need it to do for you?”
To match you need to find out the BUYER’S NEEDS
“If you were to buy our product what would convince you you’d
made the right decision?”
Winning Pitch © Winning Pitch plc
Sales Meeting - Matching
EmotionalI just want it!
BusinessPerformance
Finance
PersonalMake me look great
The Buying Motivators
Winning Pitch © Winning Pitch plc
Defend your priceNegotiate on other concessions
Free delivery
Installation
Trial period
Training
Extended warranty
Winning Pitch © Winning Pitch plc
Avoid Barry Bradley…… “All you can eat”
Paid £7.50
30 sausages 20 bacon rashers 15 fried eggs 3 tins of baked beans 6 bowls of cereal
Winning Pitch © Winning Pitch plc
Avoid Barry Bradley…… “All you can eat”
Paid £7.50
30 sausages 20 bacon rashers 15 fried eggs 3 tins of baked beans 6 bowls of cereal
1 1/2 croissants
Winning Pitch © Winning Pitch plc
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?
Winning Pitch © Winning Pitch plc
Alternative
Do you want it this week or next?
Do you want blue or red?
Deliver or pick up?
Winning Pitch © Winning Pitch plc
…then SHUT UP
SILENCE at the end of a close is the only PRESSURE
Ask for the order…
Winning Pitch © Winning Pitch plc
The difference between winners & losers is small…the difference in results is HUGE
Buyers only buy if they think you are acting in their interests
Understand your sales persona and your strengths and weaknesses
Prepare for the meeting
Understand your customer (Live in the customer’s world)
Protect your assets
Ask for the order
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