PART IX: MAKING CHANGE WITH CUSTOMER PROCESSES TO MAKE MONEY IN A DOWNTURN - WILLIAM EASTMAN
This is one of several weapons you have to Strengthen Your Core and come out of the economic contraction better than the competition. The focus is not on acquiring new accounts - continue to do so, but the real revenue during a contraction will come from reducing your offer and holding core customers for as long as possible. The following is a great place to start.
Given shows 6, 10, 13, 14, 18, 22, and Part VIII, create a plan for sharing cost reductions (price) with core customers to hold those accounts for as long as possible.
EPISODE 165: Summary
We are at the point where everything we have done to improve operations will be shared with core customers.
Remember during an economic contraction (recession or depression) you want to keep your customers buying as long as possible and to return when the contraction is over. These will become customers for life because you helped them stay solvent and buying.
EPISODE 166: Building or Enhancing the Customer Data Base
The focus of this SCRUM is to improve every aspect of your customer data collection process. Since you haven't looked at it beyond understanding how to market and sell, this is taking it to another level.
The Sprints will analyze where you are and identify holes in your customer knowledge. Then fill in the holes so the picture is complete. Marry this to all of your process improvements to date and you have an excellent Internal Report for later use as you continuously improve your production and servicing processes.
Now take this document and convert it into a document you can use as marketing collateral.
EPISODE 167: Resetting the Customer Relationship
Leave nothing to chance. Your SCRUM and Sprints should have provided everything you need to WOW core customers. You will create two documents, one for internal use and the other as marketing collateral. You will create a story and testimonials that will exceed anything the competition can provide.
EPISODE 168: Sharing Your Improvements with Customer
Time for the meeting! You want to hold the surprise to the end so initially you are sharing insights about the relationship and what improvements have already been implemented in the relationship. You are looking to intrigue them and the unstated thought process you want to stimulate is "how can we do this in our company?"
Save the punchline to last where you announce "effective immediately" the price reductions they will receive. Once the whole thing has been consumed, close with the clincher - "how can we help you do the same?"
Next Part X: People SCRUMs & Sprints
How to apply today's show to your business:
Leave a Reply.
new choice for BUSINESS SEARCH