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Customer Centric Concepts
What’s so different about Customer Centric Concepts?
Walker Consulting LLC believes in working with clients to maximize their value with their important customers. Many organizations taut growing sales by introducing a new sales process in the hopes of closing more orders. While this can be a viable approach, the addition of new customers without a complete understanding as to their net present value to your company, can actually be a losing proposition. Customer Centric Concepts focuses on better understanding who the “right customers" are for your business and improving the long term relationships with these customers. Building a strong foundation of profitable customers will pay greater dividends than focusing only on the short term sale.
Unless you are unhappy with your current sales method/process, we will not attempt to re-engineer how you sell. Rather we focus on what needs to be done in addition to your current sales process to move your top customers from just satisfied to loyal. We define your top customers as those 20% that represent 80% of your revenue.
Raising customer retention by 5% could increase customer value to your company by 25 – 100%. Further, retaining just 2% of your customers is equivalent to the savings achieved from a 10% cost reduction effort.
We all know the cost to replace a key customer can be 7 – 8 times the cost to keep and maintain an existing customer. But companies don’t typically invest in customer retention and relationship improvement. Consequently, they miss the opportunity to earn significant leverage with their existing customers, while improving customer satisfaction and making it difficult for competitors to distract them from your high level of service.
We also want to assure you that the use of Customer Centric Concepts with new customers effectively accelerates the relationship and differentiates you from their existing provider,
Customer Centric Concepts - Description
This dynamic and ongoing process directs the perspective, of the customer by the supplier and of the supplier by the customer, to a different level. As a result, the relationship between supplier and customer effectively evolves to one that is based on value-delivery. It is important to differentiate between the typical bells and whistles of value-added product features and the ability to deliver value to the customer’s bottom-line. Such a relationship drives communication and involvement to a higher plane in both organizations.
The steps of the process include:
Specific tools are utilized to document direction, objectives, the roles of the customer and supplier in the plan, success measures, direction for improvement and results.
“Customer Centric Concepts is a force multiplier. Used properly to support the sales effort, not supplant it, the process helps direct the sales team to the areas of greatest opportunity and the customers’ areas of greatest pain. It keeps us in constant communication with the customer and gives us common ground and guidelines to refer back to if we should ever get off track." Anton Mogilevsky, Manager, National Accounts, Portland Trane
Customer Centric Concepts facilitates Customer involvement!
Contact Walker Consulting LLC for a detailed discussion on how the use of Customer Centric Concepts can build sales and profitability for your organization.
614.519.5412 or info@WalkerConsultingLLC.com
Benefits
The benefits of implementing Customer Centric Concepts come to your organization as a result of doing the right things for the right customers and helping your sales force become trusted professionals who invest in their customers.
Those benefits include:
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Increase sales and profitability: |
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Customers want to do business with people and companies they trust. Doing more business with your key customers enables you to lower your cost of sales and better leverage your sales staff. Investing in the wrong kind of customers will do the opposite, providing you a downward spiral on profitability. |
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Improve the earned share of your customers’ business: |
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As you demonstrate your ability to get on the customer’s side of the table and work for them as a valuable resource, customers will look for additional ways to give your more of your current business and to broaden your involvement with them as a supplier. |
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Reduce the long-term cost of doing business: |
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The greatest secret is the return-on-investment that is achieved through Customer Centric Concepts. Not only will your cost of sales reduce, but your effectiveness in managing inventory, product development, reduction in costly errors and internal communications will improve significantly. All of these areas will reduce your long-term cost of doing business. |
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Develop customer loyalty: |
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Satisfied customers leave at the first sign of a problem, i.e. better pricing, but loyal customers stay, even in the face of competitive attacks. Loyal customers value your contribution as a resource even more than your great products and services. Improved customer retention produces significant savings. |
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Attract and retain top sales and support personnel: |
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Retaining great sales and support personnel pays tremendous dividends. Established personnel perform better, training costs are reduced, errors are reduced and customers are happier. Sales personnel love being successful. Customer Centric Concepts actually make the customer interface process more enjoyable and less stressful. Your ability to better compensate and invest in your sales personnel due to your increased sales and profitability will enable you to attract and retain the best in your industry. |
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Enhance communication and focus between sales, marketing and product development personnel in your organization: |
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The ability to develop a clear view of the customer through the tools and outputs of Customer Centric Concepts provides the framework to achieve a common focus on what your company needs to do to grow the business. For the first time, marketing, sales and product development will be in agreement and will streamline their efforts and communications, developing the right products and services the first time. |
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Add new customers and new markets: |
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As we have demonstrated, Customer Centric Concepts works extremely well with your existing key customers. However, you will find that your ability to target and acquire the “right new customers" will be enhanced when you approach them with this methodology. Your offering of “delivered value" will go beyond their expectations of product and/or service bells-and-whistles. These customers will be more motivated to switch from your competitor to your company. |
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Getting Started
Walker Consulting LLC is prepared to work with your organization in a manner that is customized to meet your specific sales growth requirements. We recognize that every company and selling situation is different and that there is no solution-in-a-box that can be applied uniformly for all customers or markets. However the methodology of Customer Centric Concepts can be applied to all sales relationships and situations. The methodology allows for customization of support and services for each customer. And, each customer will feel like you designed your offering specifically for them, even though you may have only tweaked your product, service and support offering.
Below are steps that allow us to work with your company in a manner that enables you to evaluate the effectiveness of Customer Centric Concepts and then apply those concepts in on an expanding basis within your organization and with your customers.
Assessment Phase
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Determine the potential value of Customer Centric Concepts for your organization and prove its effectiveness with a few key customers. |
Implementation Phase
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Identify existing customers with the greatest growth potential |
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Train your personnel on the application of Customer Centric Concepts |
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Report results against your defined success measures. |
Expansion Phase
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Target additional existing or new customers and markets for revenue growth via the use of Customer Centric Concepts. New accounts are attracted to this refreshing approach. |
Contact:
Walker Consulting LLC
614.519.5412
info@WalkerConsultingLLC.com
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