Customer Development Best Practices

Being actively involved in a local networking group can be a powerful thing.  I am fortunate to be a participating member in “The Synergists”. This group of professionals is passionate about networking and making a positive difference in the local business community and with each other.  Recently we dedicated two meetings to the topic of Customer Development.  The outcome was this informal list of best practices.  If there is some redundancy in best practices, it’s because that particular practice was noted more than once, thus significant to the group.  I plan to use these in my next seminar on customer development in April.  These valuable tips from experienced and successful entrepreneurs need to be shared.  Enjoy.

Establish new contacts.

Retention and new relationships are equally important.

Relationships are key.

There are time limitations on customer development.  Need to engage and empower employees.

How do we leverage individual capabilities?

Improve image of sales force with technical people.

Focused on longer term development strategies.

Become a trusted partner.

Success on two things:

1. Leverage talent with people

2.  Products

Three development ideas for professional services:

1.    Mentor and coach and now you go sell

2.    Here’s some of my clients to get you started, now go build on that

3.    Here’s a book of business, go take care of them and grow it

“I’m willing to vest my time with my staff.”

You’re only as good as your weakest staff member.

Grow or die.

Need to have a coach with an outside perspective.

Need to have a business development process.

Need to have an action plan that matches the process.

Need to have a vision towards obtaining my financial goals.

Define your vision.

Create the strategy to get there.

Measure your progress monthly.

Identify gaps and make corrections.

Grow your people.

Have outside perspective with accountability.

Growth in revenue vs. growth in profit.

Segment your business and concentrate on profitable actions.

Re-define your vision of the business to adapt to change.

Not every customer is worth the sale.

Is there is not profit, why do it?

Diversification – Risk assessment

Fine line

80/20 rule

Focus on sectors or vertical markets

Pick your audience and make your deliverables and value proposition known to that market.

Break fix model.    Who is going to fix my problem?   How will they find you?

Make sure your solution solves the problem you profess.

Consider trial programs.

Relationships are key.

Don’t put all your eggs in one basket.

Be a specialist.

Have incredible work ethic.

What is your industry like, and how are you different?  What will your customers appreciate?

Get involved. Ex: Associations.

Target Market. Effort & focus will get you BETTER leads.

Partner with your competition if at all possible.

Look at your long term profitability vs. short term.

Utilize LinkedIN. Connect with those you meet.

Write personal Thank You cards.

Be different. Ex: include scratch off lottery tickets with you Thank You cards.

Planning should always be part of what you do: vision, strategic vision, operational planning. Compare what you did based on your plan and make monthly adjustments.

We’re all sales people at heart.

Don’t stop doing the work to get referrals. Ex: build value add by hosting & presenting a seminar.

Get others re-engaged by being proactive.

Continue to update your databases with correct & current information/contacts.

Share your knowledge with others. This will make you reputable and referrals will come from it.

Give first. The rest will follow.

Throw a dinner/lunch/breakfast to show appreciation. This will let them leverage ideas too!

It’s all about relationships.

Don’t be afraid to end a non-profitable relationship.

Be a benefit to people.

Today vs. 15 yrs. Ago

More transactional sales due to the internet.

Do little things for your employees to show appreciation & make their jobs easier & more enjoyable.

Baby Boomers – savers & hard workers. Middle Class – Hard workers, but spend a little. Younger Generation – Spend.

Keep you services from being “just a commodity”.

Do the follow up: Studio Gear provided A-V services at a discounted rate to a professional group, demonstrating our quality services. After the event, I sent a follow up letter letters and a brochure to members of the group. Then phones calls to selected members to make appoinments. After  that, include these folks in our contact database.

Develop “rules” that you are going to operate under and then follow those rules without exception.

Continue your education in and outside of your profession.  Share & teach what you’ve learned with a peer group.

Assess money spent to results.

Don’t just plan, document your plans so you can measure results and adjust as appropriate on a monthly basis.

Know your customers. Know where they get their information from.

Target Market. What type of people or business does your personality or “way of doing business” mesh best with? Get in front of an association and become known as the specialist in their area. “Give” to that industry and it will pay back in dividends.

Talk to your existing clients: Do they have prospects for unrelated projects? Are there other ways you can service them?

Instead of discounting, which diminishes the value of your product, pass an incentive along to a cause your potential customer may wish to support.

“Use the rifle approach.”  Go right after who you want to do business with.

Find a niche – nurture the niche.  Don’t be all things to all people.

Testing & measuring all business development efforts – no matter what they are – so you know what works, what doesn’t, and what needs to be adjusted, etc.  Otherwise you could potentially be wasting a lot of time, money, and effort on initiatives that aren’t driving revenues & profits.

Be yourself. Be your best self. Be in the moment. (focus) Treat everyone with courtesy, dignity and respect. Remember the value of face to face contact. Give first – be genuinely generous.

Ask your good customers to introduce you to someone they know. Potential customer = warm referral.

“Crack” marketing. Give it to them for free until they can’t live without it. Then sell the product/service.

Get to know your fellow Synergists. People buy from people they like and know!

Sell & focus on a speciality. “Don’t put all your eggs in one basket” or one client.

Call your 5 largest clients each week if you have not heard from them.

Cold call for new prospects every day.

Keep it fresh.

Using your closest network of clients as an advisory board to use ideas for new opportunities to grow your business.

Consumer Opinion Market Research: The Goal is to make you Wiser and More Successful

This post is written by Jonathan Little.  Jonathan is a life-long friend and business associate.  In addition to Jonathan’s role with Troy Research, he is also a partner with The Business Source, providing consumer research for our clients.  If you want to learn more about your customers and target markets, contact me and I’ll arrange a meeting with Jonathan.

The USA continues its evolution as a multi-cultural nation.  Have you noted the stats in the 2010 Census?  New cultures gaining position and respect within the melting pot produce a sharing of unique world views and an exchange of everything from political ideas to dinner menus.   Even though a melting produces a melding, loyalties run soul deep.  People carry loyalties to family, friends, neighborhood and the larger community.  These loyalties and attachments are then reflected through differences in tastes, attitudes, beliefs and behaviors.  Where a European-American culture may dominate in one village, town or city, an African-American culture may hold the strongest influence in another.   Most Americans cherish their individual freedoms and love this country that guarantees life, liberty and the pursuit of happiness.   With occasional exceptions we Americans place our differences on a continuum from tolerate…to respect… to embrace.  Research measures where those differences come into play.

How great are the differences?  Ask a few people and start to find out.  Ask 100 to 1,000 people and project the tastes, attitudes, beliefs, and behaviors of a community, culture, congregation, clientele, audience, fan base, customers, listeners, viewers, readers, users, visitors, etc.   Whatever the category designation of the people who use your product or service, they have opinions and they’re willing give them when asked.

For more than a decade TroyResearch has been measuring attitudes and opinions for our clients worldwide.  We project opening weekend box office revenues for the movie industry.   Even though technology continues to rapidly shrink our world, research shows there are noticeable differences between movie goers in Germany and Russia, between Australia and Italy, etc.  There are differences based on culture but there are important differences based on age, education, income, and religion. From Sony Motion Pictures to the Green Bay Packers.  From the Wisconsin State Historical Society to Olbrich Botanical Gardens, TroyResearch keeps asking questions.  We know that success is determined by your customers. To realize the greatest success possible you need to understand what they want and why.  Social media continues to underscore that people want to be heard, want to be noticed.  They have opinions and are prepared to express them.  As researchers, our assignment is to creatively gather data and illuminate the issues, shedding the light of understanding on decision making.

So ask yourself “What do I want to learn?”  And at the same time ask “What am I prepared to do, to change based on what I learn?”   Ongoing research is a small price to pay to make you smarter and capable of wiser decisions to guide you to greater success.

Jonathan Little
VP Sales & Client Services
TroyResearch & PR Brigade
www.troyresearch.comwww.prbrigade.com

Aaron Rodgers – A Man with Class and Character

This is written by a sports anchor from Fox 6 in Milwaukee . It doesn’t get any better than this.

“Save Me a Spot”

This job affords me some incredible opportunities. Being a member of the FOX 6 Sports team means I’ve been able to witness and report on events and people that many can only admire from a distance. I never take these situations for granted and sincerely appreciate being involved in whatever capacity each permits.

Monday marked just the most recent case as I had the unparalleled privilege to be a part of Aaron Rodgers charity event to benefit the MACC Fund, a charity towards eradicating childhood cancer and blood disorders.

Scattered throughout the crowd of rabid Packers aficionados, were the people who I consider the event’s real MVPs. They are the families who’ve been forced to deal with one of life’s toughest sentences – the loss of a child.

Those who sprung for the tickets were not disappointed. In a world where many athletes regurgitate canned and rehearsed responses, the Packers quarterback was refreshingly candid. Aaron addressed a number of topics with in-depth, honest reaction – even some that if reprinted and mass distributed might raise some eyebrows.

Aaron stressed the importance of availability and accountability. In his opinion, it is a player’s responsibility to attend all of the team
activities as they are all intended to better the team as a whole. And then, similarly, he addressed the importance of taking the
heat/criticism when one falls short of expectations and duties.

He is never nervous to take the field. Aaron is supremely confident in the preparation he’s put in during the week leading up to Sunday’s match up. The way the 2009 season ended was disappointing but his self-confidence was not affected by the outcome. One of the toughest realizations was that that combination of players would never take the field together again. He likened the team to a family and admitted that conflict can and does occasionally exist but they try to handle such situations with maturity and civility.

He talked music and his love for tunes at a young age revealing that his mom used to sing and play lullabies and country music when he was a child. Aaron’s record label Suspended Sunrise is a product of this passion but also a contingency plan for life after football. His favorite song is Ben Harper’s ‘Forever’ and he’s envious of John Mayer’s guitar skills though not his tabloid reputation. He appreciated my affinity for Keith Urban but gave the audience a thumbs-down when I mentioned fellow country crooner Kenny Chesney.

His favorite book is The Bible and he tries to read it every day not just when life’s challenges and struggles surface.

His favorite movie is The Princess Bride which he admits he’s caught flack for but says he and his childhood friends can recite every line from the film and it is simply a great story.

Rodgers’ answers  to questions on this night were certainly admirable. And I honestly didn’t think I could respect Aaron more.
But I was wrong.

My friend, the father of that young girl who passed, was there that night. He was one of several attendees brought up on stage where he caught a football thrown by the quarterback of the Green Bay Packers.

He asked Aaron to sign the football he’d caught. He wondered if he’d make it out to his daughter. It isn’t shocking that Rodgers
obliged. What caught me off guard was the dedication he made. It wasn’t until after Aaron left that I first saw the autograph… and the simple yet sweet message that brought tears to this father’s eyes:

“To Cheri the angel. Save me a spot. – Aaron Rodgers”

I hope that Packers fans realize how lucky they are to have such an upstanding young man leading their team on the field every weekend. I hope they appreciate the challenges that were thrust upon him and acknowledge the maturity with which he handled them. I hope they stand behind the kid and respect him not only for his incredible talent but for his intelligence and honesty, poise and compassion.

My job has afforded me the chance to watch Aaron Rodgers play football for the last few seasons. But I am truly thankful for the opportunity to see the other side of this impressive young man. And pass on some of what I witnessed to you.

Great Leadership

President Barack Obama made the best speech of his Presidency tonight.  His clarity and ability to communicate to American’s, the importance of setting aside political differences and working together for the betterment of our country was exemplary.

Our constitution and the rights of American’s to free speech have been upheld.

“But at a time when our discourse has become so sharply polarized – at a time when we are far too eager to lay the blame for all that ails the world at the feet of those who think differently than we do – it’s important for us to pause for a moment and make sure that we are talking with each other in a way that heals, not a way that wounds,” said President Obama.

“The loss of these wonderful people should make every one of us strive to be better in our private lives – to be better friends and neighbors, co-workers and parents. And if, as has been discussed in recent days, their deaths help usher in more civility in our public discourse, let’s remember that it is not because a simple lack of civility caused this tragedy, but rather because only a more civil and honest public discourse can help us face up to our challenges as a nation, in a way that would make them proud. It should be because we want to live up to the example of public servants like John Roll and Gabby Giffords, who knew first and foremost that we are all Americans, and that we can question each other’s ideas without questioning each other’s love of country, and that our task, working together, is to constantly widen the circle of our concern so that we bequeath the American dream to future generations”, said the President.

“That process of reflection, of making sure we align our values with our actions – that, I believe, is what a tragedy like this requires. For those who were harmed, those who were killed – they are part of our family, an American family 300 million strong. We may not have known them personally, but we surely see ourselves in them. In George and Dot, in Dorwan and Mavy, we sense the abiding love we have for our own husbands, our own wives, our own life partners. Phyllis – she’s our mom or grandma; Gabe our brother or son. In Judge Roll, we recognize not only a man who prized his family and doing his job well, but also a man who embodied America’s fidelity to the law. In Gabby, we see a reflection of our public spiritedness, that desire to participate in that sometimes frustrating, sometimes contentious, but always necessary and never-ending process to form a more perfect union”, said President Barack Obama.

“Perhaps we question whether we are doing right by our children, or our community, and whether our priorities are in order. We recognize our own mortality, and are reminded that in the fleeting time we have on this earth, what matters is not wealth, or status, or power, or fame – but rather, how well we have loved, and what small part we have played in bettering the lives of others”, said the President.

The values established in our constitution shape our country and our ideals.

May god bless the families involved in the tragedy in Tucson.

Innovation and Evolution

To stay current with the fast changing marketplace, innovation leads to evolution and the need to update marketing information including branded product and service brochures and websites.  Both are dynamic in their ability to connect with target market audiences.  I am excited to announce that a new website for The Business Source LLC is forthcoming with help from our partner Cedar Creek Web Design.  I’m also excited about our new brochure and sales communications tools designed by Matt Schaser and The Business Source team.  It’s an exciting time for small businesses forging ahead in the new economy.  Watch for our new website and brochures soon!  Happy New Year!