Customer Experience 2020
Retailing is awkwardly adapting to the changing landscape of consumer buying. No longer is financial success rewarded on having a retail presence on the high street, trendy district or out of town shopping centre. A recognisable logo or publicity expenditure also does not cut through the noise of the retail environment, customers want to have a buying experience, to engage with knowledgeable retail staff in a store laid out to create anticipation.
In order to succeed retailer’s need to have their own product and brand that differentiates from competitors in its benefits and features otherwise they are trapped in a race to the bottom price and competing directly with the internet. Brand management, retail management and supply chain management are the three key ingredients which, when linked to a winning idea, lead to successful brand building.
Through Stephen McCombs sales workshops he demonstrates the success stories around the world, of the retailers going above and beyond to create customer loyalty.
Maximise your overall profit while increasing products or service margin along with your market sector share. Whether stage your product or service is at in the life cycle getting the price right is one of the most critical commercial decisions for a business. Stephen teaches in his sales training that there is never a bottom price especially when multiple products or services are combined in a contract. Achieving increased margins means leveraging your value proposition, working with customers who you can add value to and in turn they can help grow your revenue. Develop your optimal pricing framework and sales incentives, learn how to gain customer that goes beyond price objection. Analyse market conditions and the competitor offering.
Too often leaders don’t want to change the sales channel as they have accepted the current system delivers a given amount of revenue so using the adage, if it’s not broken don’t try to fix it. The problem is the traditional sales mindset is being overtaken in numerous sectors with smart technology.
Understand how you customers and prospects want to buy, their likes and dislikes and what would incentives them to move to a digital platform to place orders or to work with an inside sales team as opposed to a field sales representative. Product differentiation matters but in today's digitised business how you engage and retain customers in each channel is critical to survival but can also translate into increased profits by focusing on the most profitable channels.
Align, foster and develop your brands to differentiate and deliver growth. In the defence sector supply chain, there are invariable two types of supply contracts build to print with the lowest competent proposal winning while the contract awards can have significant value any additional design revenue has been harvested in previous bid proposals.
And then there is a design and supply contest, where a supplier will design and supply a works solution. With all new innovations there is added value to be had in the revenue from the design, its features and benefits or how it integrates with other systems. Stephen McComb through his sales training programs can help you understand where your brand is placed and what is ite perceived and actual value.
Customer Loyalty and Retention
Building loyal customer is an integral part of any business, customers who repeatedly purchase, that are unofficial brand ambassadors and will promote your product to others in their cycle without being prompt. Understanding what it is that makes them loyal, is vitally important, can you model and recreate it, can you give the customer more of what keeps them loyal? Mixing in anyway with what makes a customer loyal must be done very carefully and always in consultation with the customer.
We all know that retaining customers is more cost effective than acquiring new clients, but some companies take that a bit too literally. Choosing to retain a customer must be part of your decision as a supplier, does the customer align to your company vision and values? Is the customer resource intensive, that’s acceptable if you factored that into the price but if you haven’t the longer it goes on it will stunt your growth and service to other clients
Leading organisations of the world place the customer experience before the product or service they offer. We have all probably witnessed the social media outburst of dissatisfied customers with queues of people and no business representative their to assist. The damage social media can do to a brand can be instant and unforgiving.
As products and services become more commoditised businesses need additional ways to differentiate themselves from rivals. As opposed to considering the buyer's journey in its totality there are numerous touchpoints of engagement along the way that make up the customer experience. Designing the customer experience or CX requires reshaping of how your business interacts with prospects, changing a call centre to stay on the phone or messaging service until the prospect has had all their answers fulfilled can create a better customer experience but not having enough inside sales people to meet the demand will increase wait time and prospect dropout rate or customer dissatisfaction.
Learn and model what leading organisations are doing to increase their customers experience and how you can implement that process into your organisation.
Conventional sales models designed a decade ago are still being used my many businesses today with the logical thinking that they strategy is delivering results, it can be measured and understood so there is no need to redevelop the sales model. However, over the last decade the rise and dominance and now dependency of digital platforms such as Salesforce.com, Amazon Webserver, Monday.com and Workday have disrupted the sales cycle by reinventing how both consumers and businesses buy.
Field sales reps are being changed over to inside sales using technologies to autodial and map emails with templates or webchat with predictive text all of which allows the salesperson to be more effective and reach more potential clients while reducing the acquisition costs of new prospects. Customers are offered packaged solutions and can choose the level of service and support they require. Subscription models have now surpassed the SaaS industry and are in areas such as car usage or photocopiers. To understand the impact of what technology is doing in your industries and to your business join Stephen McComb in his sales training where he will help you develop your next winning sales model.
Every business knows that survival comes down to being profitable and achieving sales and although companies may have established and stabilised themselves financially the sales environment around them is in constant change. How customers engage and buy has changed with McKinsey reporting that over 70% of the buyers journey being completed before they engage with a seller or in many cases as it is seen today a buyer has no interaction with an actual human but completes a buying transaction ranging from ordering food on an app to large scale procurement on digital platform.
Today businesses and salespeople need to have a data-driven selling approach, using marketing analytics, mapping the buyer’s journey and understanding what level of information a prospect needs to make a decision. Knowing what information, a prospect is accessing on your website is critical, how did they arrive there, what information was accessed and for how long, being GDPR compliant in Europe was any tangible information captured to follow-up with further information. Changing your Go-to-Market. The trend since 2014 for large organisations is to assign from the outset the Long Term Value (LTV) and Customer Acquisition Cost (CAC) of prospects and customers, with low value customers being assigned inside sales support over field sales which reduces operation costs for servicing the client while allowing the salesperson to be more efficient in serving more clients.
End to End Customer Journey
To understand the buyers, journey a business needs to reshape its internal thinking of how it views the customer. Stephen McComb in his sales training workshops helps your salespeople to understand.
Place the customer at the centre of your business: It is not about your organisation needs but rather of how you can help the customer get theirs.
What is the customers perspective: What benefits does the customer truly need and how can the features of your product or service give them what they need? Just because a customer may say they feel they want something by asking great questions a professional salesperson should be able to recommend the best option for them, without placing price anywhere in the conversation.
Silo Mentality: Traditional working silos of not sharing information or collaborating need to be replaced with systems of sharing data, trends, competitor offerings.
Infinite: Working to achieve a sales target, growth rate is a milestone that when reached is reset, working though with the infinite mindset that you want to create meaningful results for clients will in turn grow your sales.
Sales Success Secrets
Stephen McComb has extensive international sales experience working with multinational blue-chip organisations for over 20 years. Through our inspiring sales training courses, we help our clients sales team transition from a sales trainee through to tomorrows leader. Knowing that each sector is different while each business has its own unique needs, Stephen McComb will give you the strategies, systems and processes to create lasting profitable clients.
We help companies and individual salespeople understand that to succeed in business they must play the infinite game and not the finite game of merely making a sale, but rather they must make a client, an advocate who is willing to promote your offering to others without being prompted.
Stephen McComb challenges conventional B2C of sales by demonstrating that a social influencer can stand in front of a mobile phone and attract millions of social media hits, engagements and convert those interactions into actual sales. A recent McKinsey report showed that 74% of the buyer's journey was complete before they engaged with a salesperson such is the level of information available on the internet.