Sales Tips and Marketing Strategies

Why you need to be using Viral Marketing techniques

by Steve Smith

The best thing about viral marketing is that you get a lot of awareness of your product or company. It generates a consistent flow of potential customers. With a little forethought and imagination you can reach out to high numbers of people, sometimes employing incentives or prizes along the way. Viral marketing avoids being linked with spam because of the willingness of one person to pass the information along and using the familiarity of that person to engender trust in the recipient.

Almost every company and website has caught on to the miraculous effects of viral marketing and advertising, even Microsoft with Hotmail for instance. If you don’t catch on too, it could leave your internet business dead in the water. If used in conjunction with other promotion types like SEO (Search Engine Optimisiation), viral marketing could easily push you ahead of the competition.

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Neon lights, from the term neon basically a single expression could withstand that is capturing or attracting the customers. Neon is a very inert element. Neon lights are basically attractive in nature and if it’s done painstakingly and with more flare over it, the total attention of customers could be captured which will result in increased sales. A fluorescent light, on the other hand, is most often a long, straight tube that produces white light.  Fluorescent lights in offices, stores and some home fixtures are common.

In today’s cutthroat competitive world businesses need an effective yet economical marketing tool to survive so customers can be attracted through the usage of neon lights. It is considered to be a powerful marketing tool which attracts the customers and thereby it also boost up the sales. In fact, creatively designed neon signs can lure even some unintended customers to the shop and make them buy contributing to some unexpected boost to your sales animated neon signs are more grasping.

The concept of the neon light is very simple. In the inner part of the glass tube there is a gas like neon or krypton at low pressure. Metal electrodes are pertained at both tube ends. When there is an application of high voltage to the electrodes the neon gas ionizes and there is a flow of electrons through the gas

These electrons excite the neon atoms and cause them to emit light that we can see. Neon emits red light when energized in this way. Other gases emit other colors.

A business is processed primarily by attracting the customers so neon signs and neon lights would be of utmost useful to capture the attention of the customers to boost up the business. Neon lights are necessary for almost all types of businesses including bars, beauty salons, boutiques, retail stores, restaurants etc.

Neon indicator lamps usually comprises of the darkest colour either orange or red or less often green. Thereby the total or entire colour is grasping since its dark in colour.

The chemical property neon is considered to be much brighter than imagined thus it spreads brighter emotion when animated considering the process to be held out.

CHEMICAL COMPONENTS OF NEON

ATOMIC NUMBER: 10

SYMBOL: Ne

ATOMIC WEIGHT: 20.1797

DISCOVERY: Sir William Ramsey, M.W. Travers 1898 (England)

COLOUR: colorless

GROUP NAME: noble gas

STANDARD STATE: gas at 298 k

Thus these are the properties of neon lights and their importance with the business projects. Whatever the business might be but attracting and capturing the intention of the customer’s plays a major role in all types of businesses and it’s possible with neon lights. Comparatively to Fluorescent lights neon lights can attract a customer which will result in an upgraded process of the business. The main level of business should be an upscale able growth which is brought out with the similar effect of the neon lights and their implications pertaining to the business.

Have you ever really considered how price affects your customer with regard to their perceived benefit? Too often, we use a simplistic approach to determining a price – figure the cost to produce a product or service, tack on some arbitrary percentage, and call it good, right?

Price, though, is consequential in ways we may not initially consider. The price a person pays for something goes a long way in determining the perceived benefit they expect to get from it. The perceived benefit cuts two ways. First, the expectation of service goes up the more a person pays for something. Second, the perception of what they’re gaining also goes up with the amount they pay. The two are not opposites; they work in tandem and in nearly all businesses, this tandem relationship can and does work to your advantage.

Many companies, hopefully including yours, are known for delivering incredible service. This quality service may be what your customers comment upon and why they are willing to refer you to other customers. This level of service comes at a price. One of the things you always should be doing is explaining to and showing your customers how your level of service helps them.

The more you share this type of information with your customers, the more comfortable you become in seeing the value of what you offer. Having confidence in your service allows you to increase your “Price Investment Ratio” (PIR). This all has to do with what you expect customers to pay.

For the customer, the PIR is revealed when you help frame their expectations. To help explain this best, let me refer to what I call the “IBM paradox.” This is the belief people have that although you will pay more for anything you buy from IBM, you will never be fired for using IBM. What this means is there are plenty of companies that sell the exact same items and services as IBM, but at a less expensive price. Although other vendors will be less money, there is a level of safety and confidence in using IBM – so much so that it translates to a premium price that customers will pay.

The “Price Investment Ratio” (PIR) is the amount over the minimum amount a person would have to pay for something. They are willing to pay it to feel confident in what they are buying. You might say the PIR should really be the CP – the “Confidence Premium.”

There are no two ways about it – when you have great service but do not reflect it in your PIR, then you are underselling. If you are underselling, you are not making the profits you could be making.

I can hear some of you at this point thinking, “What if we don’t have a solid sense of how good our customer service really is?” In other words, maybe your company receives very few complaints, but at the same time, you are not sure if your service is at a higher caliber than what your competitors bring to the table.

In order to find out your “Price Investment Ratio” (PIR), you must do a deep dive with your existing customers to get them to tell you what your service means to them. Once you do this, you can then match up what existing customers are telling you with what prospective customers are asking you to do. When you grasp this, you begin to understand what the PIR really should be. How much “investment” is the customer willing to make in going with you instead of your competitor?

As I have often said, in the B2B arena, companies don’t buy anything, they only invest. If your customer can’t see the return on investment, they won’t invest – they won’t pay the price you want to get. When they do see the value, though, then you can feel very confident in charging a price above what your competitors charge. Don’t settle for a lower price when doing so is detrimental to your bottom line.

Hi, how much would it be for cable at my house?

Hello, I’m wondering what you charge for a new mattress?

Do these questions are familiar? I’m guessing you take a few of these phone calls each day.

But the larger questions are: Does your staff drop the ball on these calls? How frequently do these ‘price shoppers’ actually walk into your business?

The Realities

After recording and scoring thousands of actual phone calls in every sector, ContactPoint has learned the sad truth: the majority of employees just quote a price and don’t make the sale or set up an appointment. In fact, employees usually don’t even ask for the sale or attempt to set up an appointment.

And when you don’t specifically ask for the sale you only actually get the sale just over10% of the time.

Your business just missed a giant opportunity. You just lost a sale.

The price shopper: what he really wants

Potential customers are not going to call you unless they truly need what your business offers. No one just randomly prices tires for the fun of it! If someone asks, “How much does a bed cost?” what they are really saying is, “I really want or need a tire, please sell me one!”

A Russian and his dogs

The famous Russian scientist, Pavlov, did experiments in the 1890s that discovered dogs can be conditioned to respond a certain way. His studies showed that a dog salivated when it heard a bell because the dog had learned to associate food with the bell. Even when no food was present and a bell was rung, the dog still salivated because he expected food.

Pavlov’s research demonstrates that we can become conditioned to feel and to act in a predetermined (or programmed) manner. Callers that are, ‘just checking on prices’ are your ‘bell.’ Your staff should have a preconditioned reaction and response. So, how do your employees respond? When the bell rings, do they salivate? Each phone call should be a trigger that a buyer is on the line.

Instead many employees view price shopper phone calls as a waste of time. The Pavlovian bell many businesses hear causes them to simply answer the ‘price shopping’ questions, and never actually try to get the ’shopper’ to walk through your doors. So…the ’shopper’ usually doesn’t end up walking through your doors.

Fix The Problem

What is the solution? What should the ‘price shopper’ phone call sound like?

1) Tone -Please don’t view these calls as worthless. At ContactPoint we’ve recorded millions of minutes of phone calls and helped hundreds of companies. And we’ve found that tone of voice is the number one factor for on-the-phone sales success. In fact, 86% of our on-the-phone communication is the tone of our voice.

2) Build a Relationship- Make the caller feel at ease. Ask for the caller’s name and use it. Additionally, re-state the caller’s questions and concerns. You need to understand the caller; but, just as important: they need to know that you understand them.

3) Questions – Take the time to learn everything you can about the caller. Ask them questions. Why are they calling today? Why are they in town? What specifically are they looking for? Your whole goal is getting to know them, so you can help them.

4) Build Value -This is your opportunity to ask them the right questions and determine their actual needs. You are the expert. You know much more about what your business offers than the customer does. Use your expertise to build trust with the caller. Once you’ve built trust, you can make a recommendation about what type of product or service they need, what would be appropriate, what is a ‘good deal,’ and what will help them the most.

5) Ask for the Sale – Your odds of getting the business go up over 200% when you ask for the business right after you quote a price.

The bottom line is this: if you view each price shopper as a customer you will close 10 out of 10 price shopping calls.

Train your team so they salivate when the customer bell rings. People are not calling for the heck of it. They have a need that your business can address. When consumers price shop, they are not looking for the best deal; they are seeking someone they can trust. That’s what the price shopping bell should signal to you and your employees.

It is said that there are few problems in business that cannot be solved by more sales, so the dilemma of the business owner is figuring out how to get as many sales and customers as possible. One of the most important strategies that you can use to convince more people to be willing to make a purchase from you is to establish yourself as an expert in your field or industry. A great way for you to do this is to provide high-quality information and content related to the field that you specialize in, and then make this information available for free. If somebody comes looking for information about your industry and discovers what you have provided, they may trust you enough as an expert to become a future customer.

Another great method you can use to help establish yourself as an expert about a particular topic is to ask some of your previous customers or clients to provide honest testimonials about your product and their experience with your company. Fake or paid testimonials will not be as effective as free honest testimonials, but this can also mean that if a certain customer had a negative experience while working with you then they will tell the truth and provide a negative testimonial. This means that you need to make customer satisfaction a priority no matter what your business is, so that you can be sure that no matter which customer you contact to ask for a testimonial that they will give you positive feedback.

Remember that your customers may not only provide feedback and testimonials about their experiences to you directly, but they may also post information about their experiences with you on other websites as well. If one of your customers has a particularly bad experience while dealing with you or your company (such as taking far too long to respond to a customer service issue or refund request), posting this negative feedback about you for all to see on the internet can have the effect of deterring many other people from ever buying from you.

In conclusion, by following certain key steps such as providing valuable information related to your industry for free or asking previous clients for testimonials, you can be sure that you are perceived with credibility in your field. Remember the advice that “nothing moves without a sale” and that in order to get as many sales as possible it is necessary for your customers and clients to see you as the go-to expert in your chosen industry. By acting on the tips in this article that are the most relevant to your particular business, you can begin to see some significant growth in the number of people who are willing to purchase from you.

One of the major questions which marketers tend to ask is how to attract people to their store. Whether the companies are selling a product or a service, there are key aspects to ponder upon in order to attract the customers to the point of sale or point of service. This article will provide important tips on how to attract customers to your store and a focus will be placed on the shoe industry.

Understanding the Consumer Behavior Process plays a vital part in any organization’s survival. Companies should understand all the steps in the CBP so as to better focus their marketing and communication effort. In the consumer behavior process, the customers understands that they have a need to fulfill (problem recognition), then they go in search of information concerning that need (information search). After undergoing all types of search, they evaluate whether there is a better alternative. They wonder whether or not the need is important before making a final decision (purchase decision). The customers decide whether they want to go ahead with the need, that is buying the product or service or whether to leave the need unfulfilled. Hours or days after the purchase was made, they determine their degree of satisfaction (post-purchase behavior). This is how the consumer behavior process works. It is important to note that positive or negative word of mouth is directly related to the post-purchase evaluation of customers.

In the shoe marketing sector, the CBP is generally as follows:

Problem Recognition: The customers need a pair of shoes whether they are ladies shoes, men shoes, teenager shoes, sports shoes, toddler shoes among others.

Information Search: They go in quest of information by visiting several stores and websites. They want to obtain maximum information about price, quality, color and sizes.

Alternative Evaluation: The questions which they generally ask themselves; Are the prices okay? Do the shoes match my personality? Should I buy a new pair of shoes or should I wear the old ones? Should I buy a pair of slippers or beach footwear instead of stiletto heels or a pair of ballerinas?

Purchase decision: A decision is made. The customer buys the pair of shoes or drops the idea of buying one. He may also decide to buy other things instead of the pair of shoes he initially aimed to buy.

Post-purchase evaluation: The customer determines whether the shoes are value for money and whether he/she is satisfied with the shoes products.

Recommendations

Problem recognition: Advertising and communication of your shoes products are essential to be visible to potential customers. There are several ways to advertise namely in-store, on newspapers, on radio, on the internet via websites and social networking sites, on e-commerce sites among others. The HD shoes photos should be neatly taken. To gain a competitive advantage, companies can also use high definition animation of shoes on their websites. There are two types of animations which can best be used for websites. They are 360 degree animations of shoes and 3D animations of shoes. The customers can rotate the shoes Flash animations on the website using the computer mouse. This helps create a unique online experience and also aids in the promotion of viral marketing.

Information Search: Stores’ personnel must be prepared to provide all information of shoes products to potential customers. How to grab attention? By advertising on websites, newspapers, fashion magazines, sports catalog etc. Another important aspect to consider is the physical evidence of the store. The sales staffs should be friendly, wear neat uniforms, always ready to help when needed, a light music in the background, excellent lights that reflects on the shoes and make them shine, chairs and stools for shoe testing, mirrors everywhere, smiling faces etc. With regards to the process, the management should make shoe buying a nice experience. No long queues when settling bills, home delivery in some cases, provide a customer suggestion box, giving loyalty cards and having sales promotion from time to time. Customized sales promotion is most welcomed; for example provide 50% gift voucher on shoes when it is the birthday of a loyal customer etc.

Alternative Evaluation: Marketers should provide the alternatives in their own store. That is to provide promotions on a wide variety of items such as slippers, beach shoes, clothing etc. The salesperson should offer the customers a brochure or catalog in case they are unable to decide which shoes they want to take. They can use the brochure in a future endeavor. The aim of the marketer is always to remain in the mind of the customers (evoke set) whether be it for the present or the future.

Purchase decision: Offer credit facilities to customers. Also, those who are buying shoes gifts may have the option to change the shoes size within a certain time delay. The best time delay would be 1 week.

Post-purchase evaluation: The idea may seem crazy but companies can give warranties on shoes for a limited period of 1 month. Nothing is more disappointing to see a new shoe getting damaged days after it has been bought.

These were some precious recommendations which you could use in your shoe store. By simply understanding how consumer behavior functions is a major benefit for any organization. This helps them bring amendments to their Marketing Mix involving the product, price, place, promotion, people, process and physical evidence. There are lots of other factors which can help companies sell their products and services and this will be covered later in other articles.

Now companies are better equipped in selling their shoes!

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Have you ever experienced any of these scenarios? “You’re the fifth person I have talked to about this situation and no one is helping me!” “You said this would take around an hour. It has been several hours, and I am way late for my appointment!”

“Your ad said I could get $50 off, but now you are adding extra costs. That’s dishonest, and you’re a punk!”

Front-line employees may hear these phrases, or some variation of them, sometimes. In extreme situations, customers may even become vulgar and rude.

What can you do? What is your goal when this happens? What is the best way to satisfy the customer and repair the situation?

Remember, your final focus is to provide great service that keeps and attracts customers. If the problem is resolved appropriately and quickly, the problem actually becomes a good interaction. In fact, when customers’ criticisms are heeded and promptly resolved, you will create a happier, more loyal customer.

Work with Customers, Not Against Them

The first step to solve customer complaints is to create an situation that will allow you to work through the problem with the customer, not against the customer. This is powefually important.

When customers complain, the natural reaction is to match their attitude or defend our position. The most important thing we can learn is to disconnect from the attack, criticism, dissatisfaction or rage. It is critical to remember that a complaining customer is a customer that wants to be impressed. There is no better way to get customers to stay when problems are solved. Loyalty comes when you prove your commitment to customer satisfaction even when things go bad. The reverse is also true. If we don’t effectively address the problem and we don’t show sincere empathy to the customer when things go wrong, we will lose that customer forever.

The biggest mistake we make is backing our position. Don’t defend your position! This tactic will not fix the problem.

Another common problem is to assume the customer is taking advantage of you or the company. When we think this, we will treat the customer as if they have done something wrong. This alone will destroy any chance of creating a good outcome.

Make Sure You Ask Questions and Listen

The best way to avoid defending yourself is to follow step two, which is ask questions. Repeat back what the customer says, keep breathing, keep calm and acknowledge the issues. Use such statements as, “Sure, I see what you’re saying,” or “I understand.” When the opportunity presents itself, make sure the customer hears you say, “I can see how difficult this is for you,” or “I would feel the same way if I were in your shoes.”

There is a difference between empathy and sympathy. Empathy is sharing and understanding another person’s emotions and feelings. It basically involves “putting yourself in someone else’s shoes.”

Comments such as, “I understand how you feel,” are extremely powerful. Customers want and need service reps to identify with their position. You don’t have to apologize; just offer understanding. If you have indeed been wrong, make every effort to let the customer know you are sorry and also take accountability for the situation. If you did nothing wrong, it is wise to still take full responsibility; however, you do not need to apologize or to assume guilt for the situation.

There is power in empathy There is power in empathy. Put yourself in the customer’s shoes and ask yourself how you would like to be dealt with if you were in their situation. Empathy allows you to relate to them, deal with them – not against them – to solve the problem. This is the first step to disarm their anger.

Avoid These Words and Phrases

Appropriate verbal communication is one of the most important elements in solving complaints. Even if you have empathized, you may not diffuse the situation because of the words you choose.

Never use phrases like, “It’s our policy,” “I can’t,” “I’m not allowed,” or “But…,” such as, “That’s true, but…” Working with difficult customers is usually more about what you don’t say than what you do say. It may be your policy, but when the customer hears this, they perceive that you won’t help them. You may not be allowed or able to do what they want, but when you say, “I’m not allowed,” you are essentially saying I won’t help you. Instead, tell customers what you can do and avoid saying things you can’t do. For instance, you will get much further in solving complaints if you say, “What I can do for you is…” or “here are some options available…” or “Let’s see what we can do to make this work for you.”

Stay Positive

Keep a positive and helpful attitude throughout the entire discussion. An optimistic approach will pacify much of the anger and will help you feel much better in the process. These steps can transform the outcome next time you encounter a difficult customer. Remember these customers are the exception, not the rule. Unfortunately, most employees will remember the last worst customer experience they had even after hundreds of moderate to great experiences.

Remember to listen, acknowledge the details the customer explains, restate what you hear, show empathy, provide options and stay positive! When you resolve an angry customer’s concern, you build loyalty that lasts forever.

Owning a business means providing customer satisfaction. Patrons to your store or website expect a shopping experience that is both profitable and pleasant. This is the only way that you can guarantee their return. It is your responsibility to keep potential buyers satisfied so that they will continue to visit your business as needed.

What retailers have to realize is that technology has increased faster than most people have been able to keep up with. With people of all ages visiting your business, you can’t expect everyone to know the technology that is at their fingertips when they visit your store or website. In order to educate your customers and allow them to get used to the new technological changes, don’t change many things at one time.

Your customers will have a more enjoyable shopping experience if you make things as easy as possible for them. This could include helping them place an order in a way that is easy to understand and without difficult situations. Online, a web store could make things easier by not requiring an account to be established before permitting a sale. It is easier for the customer to have the option to create an account after they have made their purchase, if they so desire. Many clients hesitate to create accounts due to privacy and time, so give them that option.

Excellent customer service is absolutely necessary in order for your patrons to be satisfied with their shopping experience. Generally speaking, people working at the store are dealing with a potential customer because the deal has not yet been made. These sales people literally can make or break a deal. A professional and positive attitude should always be reflected through their personality. While this is true for actual stores with personal interactions, it also applies to talking on the phone to online customers. Sales personnel should know your products inside and out so that they are able to answer questions by potential customers.

Proving product warranties has been made easier through technology. In the past, warranties were activated by mailing in a product registration card to the manufacturer. Wholesale software has provided assistance to many companies. This allows warranties to be activated when a customer make a purchase.

As the purchase is made the customer will also be informed of various items that may compliment the product he just purchased. This not only saves time for the customer, but also for the company. The system will automatically adjust inventory as the item is purchased. Everyone then knows exactly what is in stock, what needs to be ordered and what is in overstock.

More consumers are paying attention to product information. There are so many styles and brands on the market today that people are being more cautious about buying. Online stores particularly need to have specific product information available to their customers. Pictures and demonstrations of your products are an excellent way to show details to potential online customers. Using large images and details, customers who may not understand technical specifications can find what they are looking for by the picture of a product.

Another way to help your customers enjoy their shopping experience is to allow them to make their own decisions while they are shopping. Training is necessary in order for sales people to know how to deal with people in the right way, so as not to be pushy or offensive. Pushy sales representatives are often irritating to people and makes them leave a store without making any purchase at all. While customers need to feel that they can get information if they want it, they also need the freedom to browse, think about what they might want or need and make their own choices.

Another important goal is to plan for the success of your company, products and services. When you advertise a service or product, you need to be certain that you will have that item available for your customers. Don’t advertise a product and not have enough products to supply the demand. By using wholesale management software, you should always be up to date on where you stand on inventory so you can order as needed.

Only if you have customer satisfaction can your business thrive. Making their shopping experience positive is absolutely necessary in order for your company to grow and thrive. Your customers will continue to come back for your services and products if you keep things safe, easy and convenient.

Every customer has a price range where they are willing to make a decision without any further thinking. I refer to this as the Price Tolerance Ratio – also known as the PTR.

Knowing your customer’s PTR is critical. I believe it is one of the major obstacles salespeople fail to comprehend. As a salesperson, when you don’t understand a customer’s PTR, at least one of the following results is inevitable:

* You offer a price that does not maximize the profit potential.

* You get the order but encounter resistance from the customer that hinders the relationship.

* You encounter resistance that leads to spending too much time on the selling process and ultimately no order.

Let’s look at each of these individually, starting with the first one where the price offering does not maximize the profit potential.

I start with this one because it is the most common. The salesperson rarely finds out the price is lower than necessary until long after the sales is completed – or worse yet, they never find out.

The only way around this is by asking the customer early in the relationship, before they’ve expressed any intention to buy, how they determine value and what their critical needs are. Many times, trying to ask these questions during the sales transaction itself is too late, unless the customer is experiencing a significant issue as to why the order must occur.

The reason I say this is because once the customer has determined they need to buy, they many times become focused on seeing what it will take to get a lower price. If you, the salesperson, ask them a question about value at this point in the sales process, the customer may very well use the question against you.

Take the time to ask the customer why the order is important and what risks they feel they would encounter should they not receive it on time. Ask them how their order fits into the overall scheme of what they do and what their customers do (if you’re in a B2B environment).

As a salesperson, if you can identify value or risk in other parts of the supply-chain, you can leverage this information during the sales process and increase the amount the customer is willing to pay (essentially widening their PTR).

The key is to find out as much information about the customer as you possibly can early in the sales process. Also, you need to understand how critical time is to their process. Obviously, the more critical time is to the customer, the wider the customer’s PTR will be. The impact of time could be reflected in how quickly they want to order.

By thoroughly understanding the customer’s PTR, you will be able to effectively price your product and/or service. Pricing too low means you leave profit on the table; pricing too high means you don’t get the order. There is no magic formula. It comes down to your level of knowledge and your confidence.

The second scenario a salesperson may encounter with regard to PTR is that they get the order, but with resistance that ultimately hinders the relationship. Resistance is not always a bad thing. I believe strongly that if you don’t encounter some customer resistance from time to time, then you have not truly pushed the process to the point of being able to maximize profit.

When you encounter resistance, you first have to determine if the resistance is real or superficial. Many times the customer is merely venting as a way to assert their control.

The best way to measure if the resistance is real or superficial is to see if they continue to express their concerns about price on multiple occasions. If price comes up only once or twice, then you can reasonably assume it is merely the customer venting. You can overlook it and continue with your sales process, knowing your level of service and support is going to overcome any pricing perception.

If the customer does carry on regarding pricing, then the resistance is real and it will slow the sales process. You then can adjust accordingly.

The final reason knowing the PTR is essential is it prevents you from spending too much time with someone who is nothing more than a customer from whom you can’t make any money.

Early in the prospecting and sales process, you must begin determining the customer’s PTR. The easiest way is by simply asking them what they’ve been paying for services in the past and what their expectations have been for the companies they’ve been using. If you are not direct with questions like these, you will waste time chasing customers you ultimately do not want.

Price Tolerance Ratio (PTR) is a new concept. I am pleased to be one of the first to educate people on this. Since explaining this concept, we’ve seen salespeople and companies significantly improve their profitability.

If you want to improve your bottom line, begin now to identify the Price Tolerance Ratio (PTR) for each of your customers. Waiting until you close the sale is too late.

PUT SOME FIRE INTO THE SENSE OF URGENCY AT YOUR FINANCIAL INSTITUION AND PUT THE TOUCH ON YOUR CUSTOMERS!

You must convey your appreciation for their business and show a strong interest in what is happening in their business. You must stay on top of how the customer perceives the level of service you are providing. Adopt the approach “We must get out and go to the customer!” You might use the excuse you don’t have time or maybe you’re overly confident the customer is well taken care of and there’s no need to make a call. It’s a lot easier to make a call on an existing customer than to try to find his or her replacement!

Our industry has never been more competitive than it is right now. Officers with business development and account relationship responsibilities will use a boatload of excuses why they can’t get out and make calls if they aren’t trained, coached, encouraged and especially if they aren’t held accountable.

If your institution isn’t providing sales leadership, sales training, sales technology, encouragement, coaching and rewards for production than your institution is a target for a wake-up call that will rock you into reality.

* Stop taking your top customers for granted!

* Start taking yourself to them!

* Help discover what they need now or for the future!

* Ask what it’s like to be your customer!

* Always ask a satisfied customer this question: “Who do you know that would like to be able to say that about where they bank?”

From the retail perspective it is about households. Growing franchise value is where it’s at today. Free checking, free gift, and other promotional lures are used in your market every day. The unattended customer, the customer who feels no sense of relationship at your institution is up for grabs. Once they leave they are very hard to get back. The ones who are enticed by good deals and rolling ice chests are serious contributors to non-interest income.

From the commercial perspective it is about attaching the customer through ACH and other products that make moving their account painful. What is happening with cash management sales when an account gets opened? What is your sales strategy with commercial accounts at the new accounts desk? Are all of them introduced when on the initial visit to a commercial lender even if that is by way of a phone call? What is the planned approach to make certain this new customer is made aware of all the products they could benefit from?

What about the borrower that only has a loan? When that is the case the lender must submit a written explanation of how all attempts to cross-sell deposits failed.

Remote capture and other innovative services that make banking more and more convenient for the customer also means that the competitor doesn’t have to have a choice location anymore to pick up choice customers. Nothing is more shocking to a lender than when he or she sees an account they have taken for granted shows up on the closed account list or the pay off list. Customers don’t give 30-days notice when they are moving their business.

Your depositors are highly desirable whether they are high dollar customers or fee generators. Your borrowers who are willing to entertain more than one proposal from a financial services provider may find loans at a bargain. But lenders who know how to build a relationship have fewer price wars than those that don’t.

Get in the game and tighten up the relationships with extraordinary service delivery and making contact with the customer. Thank them in person, find out what else they need, go see what is happening in their world rather than waiting for them to call or show up in yours.

Maintenance Calls Churn New Business -

Every calling officer of your institution must have a top 25 customer list that they actively work at earning and re-earning the relationship.

The Top 25 Customer Care Log is a tool for calling officers to use to make calls meaningful. It can serve as a guide for who to call on and what questions to ask on the call. The highest form of flattery you can offer the customer is to seek his/her opinion on what it’s like to be your customer.

* When was the last time you visited the branch?

* How did we do?

* How friendly would you say we are?

* Are we efficient?

* Do we show our appreciation when you come in or call?

* Overall, how satisfied are you with our service?

When the customer responds with very or highly satisfied, ask for referrals! Ask what else can we do for you? May I quote you? This approach is what business development superstars are made of!