2. Business Acceleration Program Fall 2015 Session 8 November 5, 2015

3. Check in

4. Course Outline Weeks 1 - 3 – Long Term Focus Weeks 4 - 6 – Quarterly to Monthly Focus Weeks 7 - 10 – Nuts and Bolts of running your business Weeks 11 - 13 – Gaining Traction

5. 8 Questions from Traction What are your core values? What is your core focus? What is your 10 year target? What is your marketing strategy? What is your 3 year picture? What is your 1 year plan? What are your quarterly Rocks? What are your issues?

6. Customer Communications Plan

7. The Gold in Your Database Steps to developing and implementing a CRM strategy Creating a communications plan for staying in touch with your customers, prospects and referral partners

8. What is CRM? CRM = Customer Relationship Management Its about: –Knowing your customers, and –Using that knowledge to form profitable relationships Systems & Technology help us do that: –CRM software applications –Customer Communications Plans using multi-media

9. Keeping Customers Can be Challenging Customer behavior can shift rapidly as markets create new purchase opportunities and alternative means of obtaining satisfaction Value propositions have changed significantly as competition across all markets has increased Customer loyalty relationships are vulnerable when a competitor offers a better solution

10. Customer Driven CRM What will this customer/customer group buy? When do they buy it? What will encourage them to buy it? How much will they pay for it? What creates value for them, and if we create this value will this increase their loyalty to us?

11. Getting The Answers Not all your customers have the same needs but to be able to establish the different sorts you need information Build up a profile of your customers and group them according to their different requirements because this will give you a good idea of how likely they are to purchase what you are offering

12. And The Benefits Are.... The benefits of a CRM strategy can be substantial: –Increased sales to new and existing customers through better timing, identifying needs more effectively and cross selling of other products –More effective marketing communications using a more personal approach –The development of new/improved products/services All of which result in the payoff of: –Enhanced customer satisfaction and retention –Increased value from your existing customers - and reduced cost-to-serve them

13. Creating Your Own CRM System Collecting information about your customers Creating a customer information database Providing a way to access the information Analyzing the customer data, and Using the information to meet customer needs; market more effectively; and enhance the customer experience

14. Collecting Information About Customers Look at your entire business to establish what customer data already resides where Don’t leave any source out of consideration. They all contain customer information, often on the same customer for different aspects of their dealings with you that might later be useful to profile their value to you and determine their needs.

15. What Information Do You Need? To segment customers and build a picture of what might appeal to them you need more than just contact details: –Responses to campaigns –Sales and purchase data –Account information –Complaints record –Web registration data –Service and support records –Demographic data: age, occupation etc.

16. Selling B2B? Selling B2B requires collecting information about your business customers – firmographics: –What industry sector they are in –Public or private –Size of company –How they buy from you and the size and frequency of their purchase Also rate how valuable they are to your business All this information gives an idea of who are your best and worst customers, and what they buy from you

17. Create A Customer Information Database Centralize your information by bringing it together in a database of some sort Standardize your information by making sure you have a consistent way of recording it Keep it centralized as a database so other team members can access it and be up to date on that customer

18. What Sort Of Database Do I Need? Consider: –Number of customers and amount/types of data you want to collect – and the possibility of scaling up in the future –Your budget –Your in house expertise –The need or the benefit of integration with other business systems

19. Analyzing Customer Data Data mining can now start to give some really useful information about your customers to: –Develop targeted marketing campaigns –Sales offers –Identify trends in product likes and dislikes –Develop new services for the customer Result - increased customer loyalty

20. Using The Information It’s five to seven times more expensive to acquire a new customer than to retain an old one Do more business with your current customer Use customer data productively to: –meeting your current customer’s needs, –marketing more effectively to them, –identifying cross selling and upselling opportunities to them –enhancing their experience in dealing with you

21. Improving Your Marketing Typically, 80% of profits will come from just 20% of your customer base. If you could identify that 20% and gain an understanding of what it is they like about your product or service, you can develop personalized marketing for them With this knowledge of customers you can: –Develop targeted marketing campaigns aimed at your most profitable customers –Cross sell and upsell to them –Identify what marketing channels are most successful

22. Enhancing The Level Of Service Offer special services to specific segments Offer improved service level Offer new services

23. Marketing to your Customers Most under-utilized marketing Largest source of business For many small businesses, 65-70% of business comes from –Existing or Past Customers –Referrals from Customers –Referrals from quality Referral Partners –Referrals from Business Networking

24. Your Customer Communications Plan

25. Start with Your Database Customer List Prospects Referral Partners

26. Tools to Manage Your Contact Data CRM Software ACT! Goldmine Salesforce Microsoft Outlook Google Apps Sugar Zoho Microsoft Dynamics Custom Software Many, many others… Other Tools QuickBooks Microsoft Excel Microsoft Access

27. Key to Success – Commitment!!! Keep Your Master Database Up to Date EVERYONE who handles customer information must be committed to maintaining the database Auxiliary Lists in other software must be updated from the Master Database –Email Newsletter Software (Constant Contact, etc.) –QuickBooks Maintain Segmented Lists so you can reach out to a subset

28. Database Segments Define Groups –Customers Individual Customers Business Customers Your defined segments –Prospects Did a proposal Inquired about your services –Referral Partners Related businesses who have the best opportunity to refer BNI Power Team Business Contacts

29. Classify Your Customers Classifying Your Customers –Characteristics –Buying Patterns –Interests –Types of Services purchased –When services were performed

30. Rate Your Customers Rating Your Customers –A - Best (Ideal) Customers –B – Pretty Good/Average Customers –C – Substandard (Upgradable?) –D – There shouldn’t be any (Fire them)

31. Develop a Communications Plan – 1 Who –Customers –Prospects (Prior Proposals) –Referral Partners How Often –Depends on the “Who” –At least 4 times per year, probably no more frequently than monthly When –Peak interest periods –Slow business cycles –Natural touch points (holidays, at the end of a job, at “X” period following a job)

32. Develop a Communications Plan – 2 Media – What’s best for your “who” lists? –Direct Mail (Postcards, brochures, flyers) –Letters –Newsletters (Print or Electronic) –E-blasts (Specific Purpose – Special Offer) –Greeting Cards –Telephone Calls –In Person Meetings (lunch, coffee) –Social Media (LinkedIn, Facebook, Twitter) Variety – Mix up media –Reach more people where or how they like to participate –Manage costs with less expensive media

33. Develop a Communications Plan – 3 Cost –Review Annual Budget –If needed, time larger expenditures to projected cash flow –Choose marketing media that fits your budget –Refine Monthly Budgets to reflect marketing plan costs Action Steps –Set Action Plan so you can deploy communications on schedule –Keep Marketing and Keep Your Brand Alive!

34. Develop a Communications Plan – 4 What do I say? –Relevant information to customer’s needs/wants –Highlight timely services –Provide value (Educate, Inform, Inspire, Entertain) –Offer specials –Ask for referrals –Call to Action How do I say it? –Be customer centric – make it about them –Be yourself, use your own voice

35. Email Marketing Use a Email Marketing Service –Constant Contact, Mail Chimp, Aweber, Get Response, I Contact etc. Share Value – Don’t just sell Be Consistent – Monthly, Twice a month, Weekly Use Great Headlines Remember WIIFM Build your list

36. In Summary CRM really comes down to this – it’s a way to store the sort of information that adds value for your customers when they do business with you It needs to be supported by a team trained in a customer-centric approach You must be committed to the process With a solid CRM system, you can create a customer communications plan that’s easy to implement When you communicate with your customers you get more business!

37. Implementation steps Create or refine your client list Write out a simple plan for when you will communicate with your customers and what message you plan to convey Test drive an email marketing system –I suggest free trial for Constant Contact, Mail Chimp or Aweber –Upload your list to email marketing system Create an email & get feedback from Linnea and group members Send your first customer communication email 37

38. Action for the week Traction Read Chapter 7 Keep working on your Vision Traction Organizer with what you have identified so far. Action Keep working on your budget Keep working on creating Sales Goals and metrics Start on a simple Marketing Plan

39. Next Week Creating and Documents Processes

40. Contact and Connect Linnea Blair Office: 619.291.3700 Email: Lblair@AdvisorsOnTarget.com Web: AdvisorsOnTarget.com Twitter: AdvisorOnTarget Facebook:facebook.com/AdvisorsOnTarget LinkedIn:linkedin.com/in/linneablair