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   In this Issue:
      Know Your Customer!
      Selling Quotes
      A Few Quick Seconds
      Latest Blog Posts

Sales & Marketing Newsletter Volume 216

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Did You Know?

People readily acknowledge that an organization must provide "good" customer service in order to maintain their competitive position.

However, if you'd like to know the real story on the value of customer service, and on the key role an organization's leadership plays, here are some interesting statistics from a variety of sources:

80-90 percent of service problems are leadership related (Deming, Juran, and Crosby).

Less than half of US executives know who their most loyal customers are (Acxiom & Loyalty 360).

A 5% increase in customer retention increases a company's profits by 25% to 95%, and a 10% increase in customer retention levels result in a 30% increase in the value of the company (Bain & Co).

Consumers who have stated that they have a strong relationship with a single brand, over 64% said it was because they had a "shared value" with the brand in question (Harvard Business Review).

70% of buying experiences are based on how the customer feels they are being treated (McKinsey).

It is 6-7 times more costly to attract a new customer than it is to retain an existing customer (White House Office of Consumer Affairs).

55% of customers would pay extra to guarantee better service (Defaqto research).

A 2% increase in customer retention has the same effect as decreasing costs by 10% (Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy).

96% of unhappy customers don't complain, however 91% of those will simply leave and never come back (1Financial Training services).

83% of consumers require some degree of customer support while making an online purchase (eConsultancy).

45% of US consumers will abandon an online transaction if their questions or concerns are not addressed quickly (Forrester).



Latest Posts!

What Makes Your Organization Different? Go...

3 Challenges to Customer Engagement Go...

Who's In Charge of Our Sales Calls? Go...

Good or Bad: Send Me a Quote? Go...

 Selling Quotes
"Customer service has gone beyond being a department to being a core responsibility of every brand employee."
—Kelechi Okeke, Customer Experience Analyst 
"Diamonds are only lumps of coal that stuck to their jobs."
—B.C. Forbes
"To persuade, speak of interest, not of reason."
—Ben Franklin
"I keep six honest serving-men, they taught me all I knew; their names are What and Why and When and How and Where and Who."
—Rudyard Kipling  
"Asking the best questions has always been more important than making the best presentation."
—Jack Falvey,
Making the
"Very few questions come from idle curiosity. We need to know why people are asking before we jump to answer their questions."
—Nick Miller  
Paul Charles & Associates
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[603] 537-1190
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                                 & communicate better"

Know Your Customer

I don't think it was by chance that Arthur "Red" Motley's well-known and frequently cited fifteen-word definition of the selling process begins with a reference to customers.

"Know your customer, know your product, call a lot of people, ask all to buy," Motley said. Fifteen words that are as true today as they were back in the 1940's when he was a nationally-acclaimed sales trainer and motivational speaker.

Certainly, knowing our customers is critical to long-term sales success; it is also a never-ending process, as needs and priorities are subject to change.

At the start, we get to know our customers by building relationships. These relationships are built with individuals and organizations, and are nurtured over time by learning their respective personalities, values, communication styles, interests, concerns, understandings, misunderstandings, evaluation protocols, policies and procedures; by learning about what's important to them.

We get to know our customers better through comprehensive and on-going assessment identifying needs both recognized and unrecognized, short-term needs, emerging needs, longer-term objectives, priorities, changes, and related processes.

We get to know our customers more each time we deliver the solutions to their needs in the form of our products and services. If all goes well, this too is a never-ending process!

And we come to know our customers even more by following-up after-the-fact to ensure they are satisfied, and when we provide customer service and support.

In all of these instances the primary tools-of-the-trade are probing and listening, as we will never get to know our customers through sales presentations, advertisements, promotions or talking at them; and regardless of what type of business we're in, knowing our customers i.e., nurturing relationships and gauging on-going needs requires more than a one-size-fits-all approach.

Here are five proven best practices:

Proactively work on customer relationships. Start by adding a "relationship component" to all pre-call plans and meeting agendas; incorporate specific actions, behaviors, questions and comments.

It's important to remember that the strength of customer relationships plays a major role in their decision-making.

Never assume the customer knows everything necessary to make the right choice. While we might have a number of long-term clients who are familiar with what we do, there are still nuances that warrant our attention. The best practice is to always ask clarifying questions with respect to each situation, and to go the extra mile toward accurately assessing all the circumstances associated with each customer's recognized and unrecognized needs.

An effective method for implementing this approach is to focus on what each customer is trying to accomplish rather than what they "think they need." By asking open-ended questions that test customer requests or that relate to each customer's overall objectives we should be able to assess all of their needs, which might include a service or specialized solution about which they were unaware.

The more we learn about our customers and their needs, the easier it becomes to structure the most appealing proposals. In many instances unanticipated issues with respect to company policies, affiliations, and buying practices might make a difference in how we configure our offer. In other cases, there might be personal needs to consider, such as a need to satisfy a demanding boss, a special need for responsiveness, or the need to feel more secure about our competitive position as a supplier.

Develop and use a consistent method (in writing) for uncovering these basic and not-so-basic needs. Not only is this a good way to ensure success, but also an effective way to help us pay closer attention to each customer rather than on whatever it might be that we intend to ask or say next. In some cases, this extra focus will enable us to discover the little things that can make a big difference in perceived value, and that can result in long-term customer loyalty.

Take an extra minute to double-check established needs, specifications and expectations. Sixty-seconds of prudence before order fulfillment can often save hours after-the-fact should there be extenuating circumstances or a misunderstanding about features, billing issues or other special requirements.

Diligent post-sale or post-delivery follow-up can help us avoid many unpleasant situations, and also helps us to send a strong implied message that says, "We care! We're professional!"

True to his reputation for conciseness, Red Motley said quite a bit with only three words: Know your customer.

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A Few Quick Seconds…

Here are a couple of related articles from past issues you might have missed, and which generated especially positive feedback:

Bridging the Communication Gap
In the selling world, a great deal is lost to conflict and misunderstanding. Buyers tend to buy from people they like and trust – but miscommunication, as noted above, breeds uncertainty, conflict and distrust.

Read full article

5 Keys to a Good Question

When involved in selling, it is critical that we truly understand our customers' needs, interests and priorities. Otherwise it is nearly impossible to close the sale!

Therefore the quality of our questions is crtically-important - here are five guidelines that will help you craft and ask the best questions:

Read full article...


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