1. jaslinah rahman Increasing Customer Value Week 3

2. You can WIN new customers by LOVING the ones you have

3. Objectives Understand who are your investors ? What’s your competitive edge ? –Strategies build competitive edge Some tools

4. Stairs of Customer Value Trial User Customer Repeat Customer Loyal Customer

5. It’s not what it COSTS it’s what it PRODUCES…

6. Service Excellence Mindset What can I do to make a difference ? Not easily copied Cannot be bought with $$$ Must be built Builds emotional loyalty Overcome temporary lapses in quality Business success via SERVICE EXCELLENCE

7. Stay Married to Customers M - money A - authority N – need Long-term regular investors Step 1 Qualify customers 1.What stage of lifecycle? 2.What’s their attitude to risk? 3.What are their investment goals? 4.What’s their return expectation? 5.What’s their investment horizon – short or long? Step 2 Identify Needs

8. Stay Married to Customers 1.Did you manage to clarify & handle all his concerns ? Step 3 Clarify Concerns 1.Understand customer’s mind – keep in touch at least monthly 2.Give superior & value added service - monitor & review - updates market outlook & necessary advice Step 4 After sales services

9. Customer Retention – some tips Tips : be relevant & important Significant in selling process Improve knowledge (product/services) & skill (communication, listening, presentation) Need-based selling, make clear financial objectives & its keep reinforce its importance Customers buy (initially) on emotions, they continue buying on trust & positive results. “Rapport” is short-term so build “relationship” as it last longer.

10. Customer Retention – some tips Tips : be a friend, understand & empathize Go the extra mile Patient in building relationship A win-win attitude Be a J.U.S.T consultant Appreciative & avoid being greedy

11. Customer Retention – some tips Tips : offer strong “differential” advantage Quicker service Up to date product/services Value added products/services Better follow-ups Tips : create your BRAND Branding creates loyalty

12. Discussion time Discuss with your buddy what’s your present CRM style ? How can you improve further ?

13. Upselling (same investors) UT for different needs – EPF & cash, cash for different needs UT for different family members Review existing plans as life cycle changes – to increase or rebalance Cross-selling with insurance & free insurance, credit cards & housing/car loans

14. Why investors redeem Acceptable Planned withdrawals (pre-determined) Emergency Un-acceptable Panic (market) Dissatisfaction with service Competitive offers (gifts) Inertia - turn 55 for EPF - maturing loans Reactive - acts in response to a problem that has already risen

15. Investors Incline to Divorce 1.Age 50 – 55 2.Type investment – loan 3.% redemption 4.Interrupted autodebit 5.Life events 6.Frequent switching 7.Low ROI 8.Changes macro economic condition 9.Silent mode 10.Inherited customer

16. Handling Investors @ Risk 1.Identify list customers (monitor temperature of risk – be proactive) 2.Schedule appointment to meet 3.Find out what his/her plans to do with $$$ - probe, explain & get commetment

17. Handling Investors @ Risk …to invest in other UT Poor performance - check investment objv, risk profile, timeline - explore switching to change risk tolerance or advice hold longer time 2.Poor service - understand complaint - promise better service (possible) 3.Gifts - calculate real value of gift vs additional expenses (to buy new fund)

18. Handling Investors @ Risk …to invest in other product Change risk profile - conduct risk profiling - may advice switching or compare UT to other financial products by highlighting disadvantages 2.Change to FD - show trend FD rates - last resort, sell your bond fund 3.Change to shares - highlight disadvantages – diversification & professional management

19. Handling Investors @ Risk …expenses Emergency - advice partial redemption & leave the rest to grow - invest again when situation improves 2.Planned profits - reinvest part of profits (enjoy compounding effect)

20. Handling Investors @ Risk …EPF investors approaching 55 – actions to take Identify them Set appointments to meet - use financial planning approach & advise on asset allocation for retirement fund - use cash to upsell

21. "In sales there are going to be times when you can't make everyone happy. Don't expect to. Just do your best for each client in each situation as it arises. Then, learn from each situation how to do it better the next time." -- Tom Hopkins