Gaining Customers

1
Gaining Customers

• Narrowing the Pool to Profitable Customers

2
Gaining Customers

• In your own words, explain what this means and
  identify what you consider to be the key things
  to do to achieve this.
• How is this related to your marketing
  training/studies at MUN?

3
Gaining Customers is

• Process for prospecting for new business
  relationships
• Assessing the mutual fit between customer
  requirements and supplier market offerings
• Making the initial sale
• Filling the order to customers satisfaction

4
Gaining Customers Prospecting

• Finding them
• Generate leads from the database
• Handle inquiries from potential customers
• Suspect to Qualified Prospect

• Making the Match
• Establish the match between the suppliers
  strategic goals and the prospects goals
• Prospects preferences and suppliers
  capabilities and resources

5
What You Need to Think Through

• Total number of potential clients
• How readily they can be identified by the
  supplier
• Specific type of market offering by the supplier
• Firms reason for gaining new customers
• NOW Rank them in order of importance and give
  your reasons

6
Strategy-specific Approaches

• Market Penetration
• Seek to increase market share from current,
  former, new customers in current markets
• Product Development
• Cross-sell new product /service to current
  customers
• Market Development
• New untapped markets for existing offering
• Diversification
• Enlarge customer base with new customers in
  unexplored markets

7
In your consulting group

• Identify the strategy that you believe the
  company is using and why you feel this to be the
  case.
• How will you identify the leads and the target
  segments?
• Does your company have a database to use as a
  lead generator?

8
Databases

• Customer Relationship Management (CRM) System
• Customer database
• Transaction info, order profitability, service
  costs, share of customers business, potential
  share of customers business, buying and
  purchasing team info, key characteristics and
  influencers, VALUE Assessments (now and future)
• Market Database
• Key managers contact info, descriptive info

9
CRM tools and processes used to identify,
attract, and retain customers and leverage its
relationships with customers (pg 322-333)

• Market penetration
• Product development
• Market development
• diversification

• Using your knowledge of these strategies, how
  would managers use CRM to their advantage?

10
IMC (Integrated Marketing Communications)

• Communication objectives
• Mix of communication tools based on
  cost-effectiveness relationship
• Consistent value proposition message across all
  tools customized by sales reps for each customer
• Coordinate all divisions, departments, units

11
Things to do

• Stimulate inquires
• Process them systematically
• Promote BRAND to point of reference by name,
  i.e. Xerox, not photocopierBayer Asprin, not ASA
  

• Prioritize prospects
• Inform and connect through sales reps
• In-service reps
• Reward follow up through compensation
• Add support plan

12
SPICN-Implied(dissatisfaction, discontent,
discomfort) to Explicit Needs

• S ituation
• P roblem
• I mplication of problem
• C larification
• N eed payoff