18 Sep 2014

Why Your Business Needs Customer Oriented Salespersons



Customer Oriented Salespersons

In present day market, where customers have far more choices to choose from due to extreme homogeneity, consider the facts that over one million businesses starts in the united states alone each year (114 each hour) that excludes online start-ups (1)(2)

And out of those one million around 134,139 patents are issued roughly to the same number of businesses while the rest of the businesses are essentially “Me-Too’s (product/service)” numbering around 866,000 businesses (3).

Similarly there were around 125 million SME's world wide in 132 economies back in 2010 (4). And in my opinion majority of these businesses are “Me-Too’s (product/service)” too, considering the fact that nearly 50 percent of new products introduced in the market are complete failures and more than 70 percent do not reach their sales goals (5).

This has resulted in extreme homogeneity in products/services, extreme competition in the present day market and excessive number of options to choose from (for customers).

8 Sep 2014

Customer Data! Let The Customers Become The Managers



customer data and managers


Customer data (CD) is being used daily in almost any business. For instance Managers utilize CD to devise strategies, for market segmentation, to serve customers, to cross sell, to retain customers, to identify new needs, to provide customized products, to forecast demand, to foster relationships as we all know that without customer data relationship marketing is futile so on and so forth, so today I am going to give you guys a totally new approach to customer data.

What I mean by new approach is, that this time you are going to give back the CD to your customers, yep, you heard it right! This time you have to let the customers become the managers to decide, take decisions about your brand, products/services.

5 Sep 2014

B2B Direct Marketing: How To Convince Your Target Business Effectively!



B2B DIRECT MARKETING


I won’t go into details of why direct marketing in b2b makes more sense as most of you guys who are reading this probably know that already.

So let’s move to the main purpose of this article, “How to convince your target business effectively”, well it’s easy, yeah easy! if you know how to do it the right way and if you don’t well I am going to share my approach that would help you to do it the right way, hopefully.

To convince your target business, to cut a deal, you need two things.

1.      Right Message
2.      Right Offer
  

4 Sep 2014

Small Medium Business: When Do You Need Technology ?!




small medium business and technology


World has become a global business village due to advancements in technology, accessibility and sophisticated business practices (1).

Without any doubt this phenomena is affecting businesses world around. Now some businesses are adapting effectively to the change while others remain static. Static perhaps, because taken totally off guard by the present day technological onslaught or just clueless if their business really need any technology at all.

This article is dealing exactly with that question, to help you solve that riddle, if you really need any technology at all!

There are two things you need to look at, to solve this riddle.

1.      Look Inside

2.      Look Outside

16 Aug 2014

What Does Price Mean To The Customer ?



Whad does price mean to the customer


Good question and I would say the answer depends on the customer, to some it suggest product quality, to others it would mean lower quality etc in a nutshell it varies from one group of customers to another. I have done my own little research on the question and I got different answers.

I have mentioned those answers down below, I believe those answers would compel marketing lovers to look deeper into price, its influence on market, business, why does it carries different meaning to different customers etc.

And to know better, to understand further the underlying reasons, like why price meaning differ from one group of customer to another, I would recommend my readers to read the articles, sources given at the end of the article (in references).

5 Aug 2014

Six Major Brand Devaluation Reasons: How to Avoid & Fix Them!



Six Major Brand Devaluation Reasons

Brand value devaluation is a harsh fact, that’s why we hear about rebranding carried out by major brands all the time.  There are six major or primary reasons for brand devaluation.


1.      Customer Service
2.      Pressure Group

3.      Lack of blockbuster Product Launches

4.      Employee Remuneration

5.      Quality Decline

6.      Competitors



Considering the above reasons, it is imperative for small medium and large businesses to keep check on these areas all the time. So that any brand devaluation can be pre-emptied.

Now let’s discuss each reason one by one and in the end I will provide a reasonable fix to avoid any potential brand devaluation.



Brand Devaluation Six Reasons


Customer Service

Customer perception of service brand in particular and product brand in general depends on front line employee’s behavior (1).  That means that your employees dealing with your customer is essential to the success of your brand. 

Similarly late response to customers, multiple contacts by customers without any positive outcome has been major cause of dissatisfaction in around 74% customers in the US (2)

And according to Harvard study, one dissatisfied customer, customer having bad experience with a business, company did negative word mouth to around 10 or more people (3).

In the light of the above facts consider the consequences of your bad customer service.

While on other hand positive word of mouth is the driving force behind 20 to 50 percent of all purchasing decisions and that a 10 percent lift in word of mouth increases sales by up to 1.5 percent (4).

3 Jul 2014

What Else Matters Beside Customer Money ?!!!



Customer Data Collection

What else matters, some will suggest having an effective relationship, others will say positive customer feedback etc etc but in my opinion most important of all these things, that matters; is essential customer data or ECD.

By essential customer data I mean the data that helps you to effectively connect, contact, link with your potential/retained customers. Such customer data may include your customer name, email, contact number, mailing address, gender, age, birthday, items/services of interest (to customers).

Such data is essential in developing and maintaining effective relationship, getting positive customer feedback. In a nutshell such customer data is like a medium between your products/services and your potential/retained customers.

25 Jun 2014

How To Sell the Unsaleable Products (A two step practical approach)



how to sell the unsaleable products/services

Two Steps:

   
1.       Identification

2.       Motivation


Yes! Just a two step approach! I am not kidding, you will surely like the approach and yes it works.

So let’s get to it!!