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GU
ESSWHO AM I?IN 1945, I BORROWED $20,000 FROM MY IN-LAWS AND OPENED MY FIRST RETAIL STORE IN A SMALL COMMUNITY IN NEWPORT, ARKANSAS.
IN 1950, THE LANDLORD REFUSED TO EXTEND THE LEASE AND KICKED ME OUT OF MY BUSINESS.
IN 1962, I OPENED THE FIRST WAL-MART. IN 1992 WHEN I DIED I WAS THE RICHEST PERSON ON THE EARTH
GU
SSWHO AM I?I WAS 33 YEAR OLD, IMMIGRANT.MY TWO PREVIOUS BUSINESSES FAILED MISERABLY.I HAVE NO MONEY LEFT AND I WANTED TO OPEN A TEA SHOP IN A 650 SQFT SHOP AT A WORST LOCATION POSSIBLE.CITY REFUSED TO GIVE ME LICENSE AND NEIGHBORS DIDN’T LET ME OPEN A PATIO.
MY FIRST MONTH SALE WAS $70IN ONE MONTH MY CUSTOMERS INCURRED ABOUT $175,000 IN PARKING TICKETS
I AM SHELLY HWANG AND THIS IS THE STORY OF
GR
OW
THS
TRA
TEGY
Leverage Build Transfer
Renewal
Exis
tin
gN
ew
Exis
tin
gN
ew
MAKE EVOLUTIONARY
MOVES INSIDE THE BUSINESS THAT HAVE
REVOLUTIONARYIMPACT ON
THE MARKET
PR
OTEC
T&
REN
EW
What did your dad tell you?
Home Runs, or Singles & Doubles?
The
Th
ings
Dad
Gav
e U
sb
y: H
. Pan
ts
“While home runs provide the opportunity for a quantum increase in the growth trajectory, they are unpredictable and don't happen all the time. Singles and doubles, however, can happen every day of the year. They result from a determined, day-in and day-out improvement in the activities and social processes of a company; they form the drivers of profitable revenue growth.”
- Ram Charan, Man of Mystery
CU
STOM
ERE
QU
ITY
ACQUIRING NEW CUSTOMERS IS NOT
THE END GAME: THE FUN STARTS ONCE
YOU HAVE A CAPTIVE AUDIENCE.
A COMPANY IS ONLY AS GOOD
AS ITS CUSTOMERS THINK IT
WILL BE THE NEXT TIME THEY
DO BUSINESS WITH IT.
YOU‟VE GOT
CUSTOMERS,
NOW WHAT?
CU
STOM
ERSA
TISFAC
TION
IS CUSTOMER
SATISFACTION TRULY
THE KEY?The only way you can afford to grow in tough times is through referrals.
75% of a company’s business comes from repeat customers.
Retention is the new Acquisition!
Take the money you would have spent on marketing, put it into the customer experience, and let them market FOR you!
Word-of-mouth has always been the Holy Grail and is trusted 78% of the time.
NET
PR
OM
OTER
SCO
RE
THE ULTIMATE QUESTION:
How likely is it that you would recommend our offering to a friend or colleague?
NET PROMOTER SCORE
HO
WTO
CA
LCU
LATE
NP
S
1 2 3 4 5 6 7 8 9 10
How likely it is that you would recommend us to your friends or colleagues?
}}
Please rate us on the scale of 0 to 10. Where 0 = Extremely Unlikely and 10 = Most Likely
0
DETRACTORS
PROMOTERS
PASSIVE
NET PROMOTER SCORE = % PROMOTERS - % DETRACTORS
79
46
73
20
10
47
NET
PROMOTER
SCORE
NET PROMOTER SCORE:
CU
STOM
ERP
RO
FITAB
ILITY
“COMPANIES BECOME CUSTOMER-OBSESSED
RATHER THAN CUSTOMER-FOCUSED. WHEN
THE CUSTOMER SAYS „JUMP,‟ THEY ASK „HOW
HIGH?‟ ” – ROBERT S. KAPLAN
Only 20% percent of customers are responsible for 80% of the profit!
FIN
DIN
GTH
ETR
EASU
RE
Detractor Passive Promoter
Pro
fita
ble
Un
pro
fita
ble
Seriously consider firing these customers.
You shouldn’t have any customers
here; if you do, your charm is not working on them: change
your tactics.
You shouldn’t have any customers
here; if you do, you are winning loyalty at a steep
price.
Make them part of your family.
Provide them with tools to promote your products.
Offer new and exciting products.
Understand customers’ pain and find ways to win them over.
Be cautious and selective in promotions
Be cautious and selective in promotions.
Understand customers’ hesitations and offer additional incentives.
WOW them with special offers, and loyalty programs.
Bre
akev
en
CU
STOM
ERLIFETIM
EV
ALU
E
A CUSTOMER‟S LIFETIME VALUE IS THE
AVERAGE PROFIT THEY WILL GENERATE FOR
YOU DURING THE TIME THEY ARE YOUR
CUSTOMERS.
CU
STOM
ERLIFETIM
EV
ALU
E
Detractor Passive Promoter
Pro
fita
ble
Un
pro
fita
ble
Market Segment A
Market Segment C
Market Segment B
Market Segment
D
Market Segment E
Bre
akev
en
Bubble Size is the function of market segment size, and customer lifetime value
START THE CONVERSATION & UNCOVER MANY REAL OPPORTUNITIES THAT MAY HAVE BEEN PREVIOUSLY HIDDEN IN PLAIN SIGHT.
CPSPHERE IS AN INNOVATIVE MANAGEMENT CONSULTING FIRM, FOCUSED ON STRATEGIC SALES AND
MARKETING AND ITS HANDS-ON EXECUTION. RESULTING IN INCREASED SALES AND IMPROVED PROFITS.
WWW.CPSPHERE.COM | 310.645.0707 | [email protected]
5777 W. CENTURY BLVD. SUITE 1250, LOS ANGELES, CA 90045
