SERIES DRIVING GROWTH. WITH VoC. GENERATE GROWTH WITH VoC STRATEGIES

Size: px
Start display at page:

Download "SERIES DRIVING GROWTH. WITH VoC. GENERATE GROWTH WITH VoC STRATEGIES"

Transcription

1 to SERIES GROWTH DRIVING WITH VoC GENERATE GROWTH WITH VoC STRATEGIES

2 to SERIES B-TO-B CUSTOMER STRATEGIES Not all companies are alike, and most organizations can t identify with the strategies of large, consumer brands often used as case examples. At Walker, we feel the unique nature of B-to-B customer strategies does not receive adequate focus, and that s why we re developing a series focused on voice-of-the-customer strategies for B-to-B organizations. We recognize the unique challenges associated with complex accounts, complicated purchasing processes, layers of supply chain relationships, and other characteristics that affect customer relationships. We ll address these issues, provide real examples, and cite best practices to help customer strategists. Join in the conversation! Let us know if you have a best practice to share or a topic to request. You can contact me at pgibbons@walkerinfo.com. Patrick Gibbons Principal, Senior Vice President

3 DRIVING GROWTH All companies are focused on growth, and right now, it s a difficult time to grow. Although the economy is showing signs of recovery, spending is still restrained. Procurement has become more powerful, and their focus is on lowering costs, not on building relationships. Competition for every dollar spent continues to get stronger. But, there is a way to grow in this challenging business environment let customers show you the way. One of the most crucial elements to this type of growth is how you manage and leverage your customer relationships. Clearly, companies with solid growth strategies have strong customer relationships at the foundation of their plan. Walker has decades of experience working with market leaders that have successfully leveraged their customer relationships to grow their business. 5 STRATEGIES FOR GROWTH Whether your focus is on growing relationships, developing solutions, or expanding markets, you can earn more from your current and prospective customers with the five strategies outlined in this paper to enhance your success. The first four customer retention/cross-selling, innovation, growing market share, and market expansion are strategies for organic growth, and the fifth is growth through mergers and acquisitions. ORGANIC GROWTH Walker applies the adjacent framework to help companies organize their strategies for organic customer-focused growth. Customer retention and cross-selling focuses on strategies to retain and grow current customers utilizing current products. Innovation focuses on strategies to sell a broader range of products and services to existing customers. Growing market share focuses on strategies to sell existing products and services to a broader range of customers. Market expansion focuses on strategies to sell new products and services to new customers. NEW CUSTOMERS EXISTING GROW MARKET SHARE CUSTOMER RETENTION AND CROSS SELLING EXISTING PRODUCTS MARKET EXPANSION INNOVATION NEW GROWTH THROUGH MERGERS AND ACQUISITIONS This process helps an acquiring company s management team before, during, and after a merger or acquisition, by providing additional, objective information. The solution arms an acquiring company with critical insights about the target s customers to help accelerate value creation and manage risks during a strategic acquisition. MITIGATE RISK ACCELERATE GROWTH INCREASE EXIT MULTIPLES 3

4 B-TO-B SERIES DRIVING GROWTH WITH VoC 1 CUSTOMER RETENTION & CROSS-SELLING Customer retention and cross-selling focus on strategies to deliver current products or services to existing customers. CREATE A FOUNDATION FOR GROWTH THROUGH LONG LASTING CUSTOMER RELATIONSHIPS It is well known that one of the most effective ways for a company to grow is to retain and grow the customers they already have. This is the true foundation for growth. Market leading companies have demonstrated that listening to their customers and acting on their insights has a big payoff. Critical to customer stability in a B-to-B environment is the ability to identify those customers that may leave and those customers that show growth potential. This requires companies to have an effective way to gather insights and segment customers according to these key criteria. Walker s Loyalty Matrix is a practical and relevant framework for assessing risk by segmenting customers into four categories based on their attitude toward your company and their plans for future business: 1. Truly Loyal Positive attitude, plan to continue working with you. 2. Accessible Positive attitude, but not likely to continue. 3. Trapped Not committed, but will continue for now. 4. High Risk Negative attitude, not planning to continue. ATTITUDE ACCESSIBLE HIGH RISK BEHAVIOR TRULY LOYAL TRAPPED STEPS TO GROW THROUGH RETENTION & CROSS-SELLING Salvage high risk customers An obvious place to start is to focus on those customers that are high risk. In particular, if you can align each customer with financial data (revenue, profitability, etc.) you can quickly determine your priorities for action. Develop trapped customers While trapped customers aren t necessarily leaving soon, they likely will leave if a suitable option comes along. A deliberate action plan should be constructed to develop stronger relationships to increase loyalty and long-term retention. Learn from accessible customers Accessible customers have a good attitude, but may no longer need the solution they have been purchasing from you. Learning from them presents opportunities to sell other solutions that they may not have considered in the past. Leverage loyal customers Loyal customers present terrific cross-selling opportunities. Not only are they likely to increase their spending with you, but they are typically open to considering additional products and services. 4

5 2 INNOVATION Innovation focuses on strategies to sell a broader range of products and services to existing customers. CONNECT WITH EXISTING CUSTOMERS TO GENERATE INNOVATIVE NEW SOLUTIONS Sometimes companies are so focused on the pursuit of new accounts they neglect one of the greatest sources of opportunities they have their current customers. Your voice-of-the-customer strategy can be one of the greatest sources for innovative new products and services to expand your business with existing customers. Customer-focused companies have discovered many productive ways to generate ideas from their customers. Customer councils, communities, surveys, and many other methods have created an open dialogue for customers to share their toughest challenges and contribute excellent new ideas. It s critical not only to encourage their input, but to have an approach for putting it to use. There is no shortage of good sources as the diagram below implies. Trend Analysis Competitive Intelligence Quantitative Research Qualitative Research SOURCES Customer Database and CRM Benchmarking Sales Data Customer Communities Surveys Social Media Observation and Shadowing STEPS TO GROW THROUGH INNOVATION Integrate customer insights Companies can start by developing key methods or listening posts to gather and integrate ideas, thoughts, and even complaints from customers. All of these can unveil new opportunities. Deliver insights intelligently The right insights must be delivered to the right people to prompt action. This ensures new ideas don t fall between the cracks. Identify solutions with potential With the right people involved analysis can be conducted to understand both the feasibility and potential impact of new solutions. Team up with loyal customers Customers can play a key role in refining new solutions. Your most loyal customers can often become early adopters of new solutions and can provide your first testimonials. 5

6 B-TO-B SERIES DRIVING GROWTH WITH VoC 3 GROW MARKET SHARE Growing market share focuses on strategies to sell existing products and services to a broader range of customers. PROFILE YOUR CUSTOMERS TO TARGET NEW ONES Why do customers buy from you? More specifically, why do your best customers buy from you? Answering those questions can be the first step to having a voice-of-the-customer strategy that helps you grow your market share. In any well designed VoC strategy you learn a great deal about your customers. From information you likely already have, you can profile customers to understand the characteristics that are common in your best relationships. Insight from lost customers and/or lost prospects can make this information even richer. These insights can then help you efficiently target the best prospects to pursue and even target customers of particular competitors that may be most likely to be interested in your solutions. Make It Easy Saving Time Best Quality Seeking Value Simple Process Profiling your customers based on what matters most to them can help you efficiently target new customers. Another under-used source for growing market share is the use of referrals. In one case a software firm found that nearly 1,800 of their customers indicated they would recommend their reseller. Many of them indicated they would even share their contact information to help those that would benefit from the company s products and services. Following up from this they acquired more than 150 referrals that were used to pursue new business. STEPS TO GROW THROUGH MARKET SHARE Profile your customers Go after customers that match the profile of your bestfitting existing customers. Target competitors customers Pursue competitor s customers that match the profile of your best-fitting existing customers. Develop referrals You have customers that say they are willing to recommend you. Make the most of these by having a process for following up on recommendations and referrals. 6

7 4 MARKET EXPANSION Market expansion focuses on strategies to sell new products and services to new customers. IDENTIFY THE BEST NEW SOLUTIONS TO BRING TO MARKET When the market matures how do you know where to turn next? In today s B-to-B environment, companies must innovate to survive and thrive. They need to constantly assess their capabilities and pursue solutions that can bring new opportunities for growth. What s more, the world is a big place and companies must consider new solutions for markets in geographic areas that are rapidly growing and developing. However, companies often find that these markets have unique needs which present challenges that may never before have been encountered. Market expansion is all about alignment, and an effective voice-of-the-customer strategy can be an effective means to bring it about. Consider the questions in the framework to help design ways for your customers to assist in developing approaches for market expansion. What are you good at? Expertise Customer Insights Problems? Opportunities? How do you get there? Innovation New Markets Where do you want to go? STEPS TO GROW THROUGH MARKET EXPANSION It all begins, as it should, with the customer. Companies must often reinvent their business models and processes based on innovation, integration, and collaboration to bring profitable products and services to market. Commit to customer centricity in new product planning Focusing on services with more likelihood of meeting significant customer needs is key to profitable new product development. Break down the silos for using customer insights Partner with key development departments to ensure they are involved and supportive of VoC strategies and are committed to incorporating customer insights in their work. Tap into a larger pool of ideas Customer will lead you to new customers. Read their comments, talk to them, and solicit their feedback. Don t just rely on the ideas that reside amongst the workforce and business partners. 7

8 B-TO-B SERIES DRIVING GROWTH WITH VoC 5 MERGERS & ACQUISITIONS Growing through mergers and acquisitions Although often overlooked, the loyalty of the customer base is arguably the most important asset any target company has to offer. It s important for today s acquiring companies to direct full attention to this fact by incorporating effective customer due diligence processes before and integration after all have signed on the bottom line. M&A deals can become more accretive through a better understanding of the value of a company s customer base. After all, companies with more loyal customers demand higher valuations, grow more quickly, are more profitable, and have greater operating leverage. In today s marketplace, the need for understanding and mitigating significant risks prior to the completion of any transaction is becoming increasingly important. Informed acquiring companies develop more accurate revenue and cost-saving projections and execute more customer-focused integration plans. PRE-DEAL 90 DAYS POST THEREAFTER CUSTOMER DUE DILIGENCE CUSTOMER GROWTH STRATEGIES Mitigate Risks in Customer Base Accelerate EBITDA Growth Increase Exit Multiples STEPS TO GROW WITH M&A It all begins, as it should, with the customer. Companies must often reinvent their business models and processes based on innovation, integration, and collaboration to bring profitable products and services to market. DUE DILIGENCE As the deal is being negotiated, we help you understand the target company s customer relationships and market position and how that plays into the company s value. POST-DEAL INTEGRATION We collaborate with the operating unit to identify and develop specific strategies for growth within the customer base. ONGOING INTELLIGENCE By monitoring and leveraging customer relationships, companies can optimize their return on investment. 8

9 RELATED BLOGS The following pages include blogs related to the topic of driving growth with voice-of-the-customer strategies. Hopefully these will prompt additional ideas that you can put to use in your organization. Want more? Visit our extensive collection of blogs at blog.walkerinfo.com. Or check our Knowledge Center to find additional resources including Blog Books, white papers, and videos. walkerinfo.com/knowledge-center

10 B-TO-B SERIES DRIVING GROWTH WITH VoC USING CUSTOMER INSIGHT TO TARGET GROWTH STRATEGIES Jennifer Batley Vice President, Consulting Services Over the past few months, I have been facilitating action planning workshops with a client who is in the first year of their customer listening program. Much of our focus has been on educating local teams about the information that they now have at their disposal, and on teaching them how to use customer feedback to identify improvement areas within their business. The thing is, customer feedback has almost unlimited use scenarios for any business challenge that a company is facing, there can be a customer perspective. And while the information collected through your voice of customer program may not have been specifically designed to answer the question of the day, it can often be mined for relevant insights. I was reminded of this at one of the workshops I mentioned. As we were sharing results and talking about opportunities, the country manager realized the information we were sharing might offer insight into a conversation the business was having around competitive strategy, specifically: should this company be more aggressively pursuing growth with a specific set of customers whose strength of relationship with a competitor was in question? They had considered internal perspectives and anecdotes along with comparable situations in other countries, but up until the workshop, they had not had any objective measure of the customers willingness to switch. After learning more about the opportunity they were pursuing, we were able to dig in to their customer feedback and come back to them with a customer perspective. In fact, much of the customer base they were considering targeting was very loyal to the competitive supplier but there was a pocket of opportunity where this loyalty was weaker. Armed with this information, the team was able to refine their strategy and dedicate resources to the most likely wins. We re looking forward to hearing about their successes! What questions are you grappling with, and how have you used customer insights to develop your strategy? 10

11 A TWO-BY-FOUR MOMENT Kitty Radcliff Vice President, Consulting Services Have you ever had a two-by-four moment? By that, I mean an a-ha experience. It s like someone hit you with a two-by-four and all of a sudden you have clarity about the situation. You see things in a brand new way. Recently an executive of a leading U.S.-based distribution organization had a two-by-four moment when he reviewed their Customer Loyalty results. His company is pursuing a growth strategy, with the goal of increasing profitability and sales. In an effort to better understand the market position, the VOC initiative included a measure to gauge share of wallet. On first glance their results are extremely positive. They have the vast majority of their customers business. But, wait a second. There is a small portion of business that is going to the competition. That share of business going to the competition is increasing. Furthermore, when you translate the amount of business that is going to other organizations into lost sales here it comes they are missing out on hundreds of millions of dollars in potential revenue. The two-by-four moment: They left money on the table by not pursuing all potential business with new customers. When acquiring new customers they targeted the core business, obtaining about 90% share on average. Over time, their share of wallet eroded as the customer grew relationships with other providers (e.g. down to 80% SOW within five years). Are you maximizing relationships with your customers? 11

12 B-TO-B SERIES DRIVING GROWTH WITH VoC ARE CUSTOMER PART OF YOUR MERGER AND ACQUISITION STRATEGY? Michael Good Vice President, Strategic Accounts In an effort to keep up with the latest news related to mergers and acquisitions, I am continually educating myself by pilfering through a never-ending inventory of content, online and elsewhere. Recently, I have read a number of very good articles and blogs on merger and acquisition strategies, processes, trends, etc., and many of these articles are very articulate in how they advise completing a successful merger or acquisition. Most recently, I read an article in Consulting Magazine that mentioned some staggering statistics related to the percentage of CEOs that were interviewed not knowing the clear strategic rationale or the longterm financial contribution that the deal would bring to the company. The article was well done and went on to talk about the right questions to ask and shared many strong points related to today s mergers and acquisitions climate. However, nowhere in the article, or in many other articles on this topic, was there any mention of the need to clearly understand the customer base that is being acquired. I realize that many mergers and acquisitions are aligned to a pure financial play or intellectual property or other non customer-related attributes, but for those mergers and acquisitions that have greater strategic implications the goal still remains to impact the multiple or potential market share gain or successful entry into a new market. So shouldn t it be of primary importance to include a thorough examination of the customer base? Thorough, meaning a deep, fully representational view crossing segments, geographies, and the population as a whole? I have seen, first hand, the fall-out of completing an acquisition without proper due diligence on the customer base. Needless to say, it didn t end well. This does not have to be the case. Understanding your customers to create competitive advantages begins before and culminates with the completion of an exit with favorable valuation multiples. 12

13 ABOUT WALKER Walker specializes in customer loyalty and related customer strategies, including innovative approaches to segmenting, valuing, obtaining, serving, and growing customers. Walker s diverse team of consultants provides tailored, comprehensive solutions to help companies achieve their business objectives and, ultimately, grow shareholder value. Walker s consultants regularly conduct workshops and assessment programs to help organizations improve their ability to administer customer listening programs. $3,200 THE WALKER INDEX $2,800 $2,400 $2,000 $1,600 $1,200 $800 $400 $ Walker Index S&P 500 Dow Jones Industrial Average NASDAQ The Walker Index is a stock index comprised of current Walker clients. Companies are included in the index only during their tenure as Walker clients. Companies attracted to Walker are committed to using the customer perspective as an impactful management tool. The Walker Index indicates these companies outperform the broad markets. For the most up-to-date Walker Index, please visit walkerinfo.com/consulting

14 301 Pennsylvania Parkway Indianapolis, Indiana Telephone: International:

SERIES DRIVING SALES LEADS. WITH VoC. GENERATE NEW LEADS FROM EXISTING CUSTOMERS WITH VoC STRATEGIES

SERIES DRIVING SALES LEADS. WITH VoC. GENERATE NEW LEADS FROM EXISTING CUSTOMERS WITH VoC STRATEGIES to SERIES DRIVING SALES LEADS WITH VoC GENERATE NEW LEADS FROM EXISTING CUSTOMERS WITH VoC STRATEGIES to SERIES B-TO-B CUSTOMER STRATEGIES Not all companies are alike, and most organizations can t identify

More information

SALVAGING AT-RISK CUSTOMERS SALVAGING AT RISK CUSTOMERS. by Brad Linville and Melissa Meier

SALVAGING AT-RISK CUSTOMERS SALVAGING AT RISK CUSTOMERS. by Brad Linville and Melissa Meier SALVAGING AT-RISK CUSTOMERS SALVAGING AT RISK CUSTOMERS by Brad Linville and Melissa Meier SALVAGING AT-RISK CUSTOMERS An account manager receives a phone call from one of their customers, expecting business

More information

Driving Results through others. Driving. Results. Through Others. The Key Users of Customer Intelligence

Driving Results through others. Driving. Results. Through Others. The Key Users of Customer Intelligence Driving Results through others Driving Results Through Others The Key Users of Customer Intelligence Driving Results through others One of the key skills necessary for driving results is the ability to

More information

How to build a profitable customer loyalty program 7 key steps to create customers for life AGENCY OF THE YEAR

How to build a profitable customer loyalty program 7 key steps to create customers for life AGENCY OF THE YEAR How to build a profitable customer loyalty program 7 key steps to create customers for life AGENCY OF THE YEAR INTRODUCTION Customer loyalty in the age of the customer 2 Customer loyalty in the age of

More information

1 01. Customer Acquisition vs. Customer retention: the big challenge The role of Retention Marketing in e-commerce

1 01. Customer Acquisition vs. Customer retention: the big challenge The role of Retention Marketing in e-commerce 1 01. Customer Acquisition vs. Customer retention: the big challenge 3 02. The role of Retention Marketing in e-commerce 6 03. Refine Customer Experience and drive customer retention with these 7 tips

More information

How to drive customer retention in e-commerce. 7 tips to transform your online business and thrive

How to drive customer retention in e-commerce. 7 tips to transform your online business and thrive How to drive customer retention in e-commerce 7 tips to transform your online business and thrive Table of Contents 1 01. Customer Acquisition vs. Customer retention: the big challenge 3 02. The role of

More information

Retail Banking Insights

Retail Banking Insights Retail Banking Insights Number 6 March 2015 Driving Revenue Growth In Retail Banking Annual revenue growth for U.S. retail banks has hovered near 2 percent since 2010, hindered by historically low interest

More information

Understanding Customer Experience Management

Understanding Customer Experience Management Understanding Customer Experience Management Five Essential Elements of a Comprehensive Approach Pg. 1 Overview In this era of the referral economy, the customer experience has more influence than ever

More information

Achieving Higher Profitability and Cash Flow by Measuring Customer Experience (CEX)

Achieving Higher Profitability and Cash Flow by Measuring Customer Experience (CEX) Achieving Higher Profitability and Cash Flow by Measuring Customer Experience (CEX) Frank Sanders, President CSM Research, Inc. www.csmresearch.com Measuring CEX is a Key Differentiator Improving customer

More information

Financial Services: Maximize Revenue with Better Marketing Data. Marketing Data Solutions for the Financial Services Industry

Financial Services: Maximize Revenue with Better Marketing Data. Marketing Data Solutions for the Financial Services Industry Financial Services: Maximize Revenue with Better Marketing Data Marketing Data Solutions for the Financial Services Industry DataMentors, LLC April 2014 1 Financial Services: Maximize Revenue with Better

More information

Our History in Industry Research

Our History in Industry Research Who We Are Cadent Consulting Group, established by the founders and senior leadership team from Cannondale Associates and Kantar Retail, is a marketing and sales management consulting firm serving the

More information

A TWELVE-STAGE CRM PLANNING STRATEGY

A TWELVE-STAGE CRM PLANNING STRATEGY 3-02-71 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND TECHNOLOGY A TWELVE-STAGE CRM PLANNING STRATEGY Duane E. Sharp INSIDE A Twelve-Stage CRM Strategy; Applying the CRM Strategy; Maximizing Individual

More information

Marketing Data Solutions for the Financial Services Industry

Marketing Data Solutions for the Financial Services Industry Marketing Data Solutions for the Financial Services Industry Maximize your revenue with better data. Publication Date: July, 2015 www.datamentors.com info@datamentors.com 01. Maximize Revenue with Better

More information

Don t forget the customer! Darwinism in effect - Customer retention and margin management during the downturn

Don t forget the customer! Darwinism in effect - Customer retention and margin management during the downturn Don t forget the customer! Darwinism in effect - Customer retention and margin management during the downturn By Ralf Möbus & Joachim Klein Evolution and natural selection If Charles Darwin had been an

More information

Understanding Customer Experience Management. Five Essential Elements of a Comprehensive Approach

Understanding Customer Experience Management. Five Essential Elements of a Comprehensive Approach Understanding Customer Experience Management Five Essential Elements of a Comprehensive Approach Overview In this era of the referral economy, the customer experience has more influence than ever on the

More information

The Change Challenge: Realizing the Full Value of Your Business Initiatives

The Change Challenge: Realizing the Full Value of Your Business Initiatives The Challenge: Realizing the Full Value of Your Business Initiatives KPMG Management Consulting: People & kpmg.com 1 People and People and 2 Managing people through change For today s businesses, change

More information

Renewable Differentation. The Antidote to Accelerated Commoditization

Renewable Differentation. The Antidote to Accelerated Commoditization Renewable Differentation The Antidote to Accelerated Commoditization Today's Reality: Accelerated Commoditization Commoditization of products and services is occurring more quickly today than ever before,

More information

Turning. Customer Data into Profits. A Whitepaper from ProcureData

Turning. Customer Data into Profits. A Whitepaper from ProcureData Turning Customer Data into Profits A Whitepaper from ProcureData How well do you make use of the information in your marketing database? Are you achieving significant business growth by leveraging your

More information

Targeting Omni-Channel Shoppers

Targeting Omni-Channel Shoppers Targeting Omni-Channel Shoppers Marketing Data Solutions for the Retail Industry Publication Date: March, 2015 www.datamentors.com info@datamentors.com DataMentors, LLC Data-Driven Targeting Omni-Channel

More information

Delivering Real Value Through Strategic Sourcing

Delivering Real Value Through Strategic Sourcing Delivering Real Value Through Strategic Sourcing ENSURING SOURCING SAVINGS HIT THE BOTTOM LINE A well-designed supply chain coupled with strategic sourcing can produce huge savings for organizations, but

More information

How to drive profitability in uncertain times. How advanced analytics can help your business to become a quality-connected enterprise

How to drive profitability in uncertain times. How advanced analytics can help your business to become a quality-connected enterprise How to drive profitability in uncertain times How advanced analytics can help your business to become a quality-connected enterprise The importance of an end-to-end approach No one can predict the economic

More information

How to digitally transform your manufacturing operation. Manufacturing sector whitepaper

How to digitally transform your manufacturing operation. Manufacturing sector whitepaper How to digitally transform your manufacturing operation Manufacturing sector whitepaper Digital transformation in your manufacturing operation Manufacturers can use readily available resources and expertise

More information

Guide to Competitive Intelligence for Product Marketing

Guide to Competitive Intelligence for Product Marketing Guide to Competitive Intelligence for Product Marketing Learn How To Integrate Competitive Intelligence Into Your Product Marketing Strategy Guide to Competitive Intelligence for Product Marketing About

More information

4 Steps to Maximizing. Customer Lifetime

4 Steps to Maximizing. Customer Lifetime 4 Steps to Maximizing Customer Lifetime Value 1 Customer Lifetime Value is the most underappreciated B2C metric. Underappreciated, you say? We measure customer lifetime value and it s really important

More information

The Ultimate Ratings and Reviews Buyer s Guide for Magento Merchants. Choosing the best ratings and reviews partner for your Magento store

The Ultimate Ratings and Reviews Buyer s Guide for Magento Merchants. Choosing the best ratings and reviews partner for your Magento store The Ultimate Ratings and Reviews Buyer s Guide for Magento Merchants Choosing the best ratings and reviews partner for your Magento store INTRODUCTION Whether you re new to ratings and reviews or have

More information

Loyalty 2.0: Industrialized analytics embedded in your processes

Loyalty 2.0: Industrialized analytics embedded in your processes Whitepaper Generating Customer Experience Impact Loyalty 2.0: Industrialized analytics embedded in your processes It is no longer a given that a high initial customer satisfaction rate for a product or

More information

Listen Like a Leader. How Utilities Can Use VOC and VOE Programs to Inform Their Strategies

Listen Like a Leader. How Utilities Can Use VOC and VOE Programs to Inform Their Strategies Listen Like a Leader How Utilities Can Use VOC and VOE Programs to Inform Their Strategies Shawn Silzer, Senior Manager, Consulting Solutions, E Source Contents Customer and Employee Feedback: The Missing

More information

The keys to winning in M&A integrations

The keys to winning in M&A integrations Page 1 The keys to winning in M&A integrations The keys to winning in M&A integrations Article by Mika Rytkönen & Charlotta Välimäki M&As provide plenty of opportunities for growth. Companies that successfully

More information

The Future of Sourcing Begins Now

The Future of Sourcing Begins Now : The Future of Sourcing Begins Now Clay Calhoun ISG WHITE PAPER 2017 Information Services Group, Inc. All Rights Reserved INTRODUCTION Enterprises and public sector organizations have long depended on

More information

SOCIAL MEDIA OPTIMISATION

SOCIAL MEDIA OPTIMISATION Did you know that Social Media is a growing source of leads and customers? The amount of time your target market spends on social media is ever-increasing. What is Social Media Optimisation? Social media

More information

TALENT ECONOMY LEADING IN A CRISIS

TALENT ECONOMY LEADING IN A CRISIS LEADING TALENT IN A CRISIS ECONOMY Contributors: Amy Mills, Ph.D., Vice President, Aon Consulting Seymour Adler, Ph.D., Senior Vice President, Aon Consulting Leading Talent in a Crisis Economy Organizations

More information

Critical Steps to Prepare Your Business for Sale

Critical Steps to Prepare Your Business for Sale 12 Critical Steps to Prepare Your Business for Sale The value of 12 Critical Steps The DAK Group has prepared a superb, quick read on the 12 Critical Steps to Prepare Your Business For Sale. As a business

More information

Client Satisfaction & Client Loyalty The Power in Understanding the Difference

Client Satisfaction & Client Loyalty The Power in Understanding the Difference Client Satisfaction & Client Loyalty The Power in Understanding the Difference by Lee Eisenstaedt, MBA, Founding Partner, L. Harris Partners Executive Summary The terms client satisfaction and client loyalty

More information

Harnessing the Full Power of Social Media to Drive Customer Loyalty

Harnessing the Full Power of Social Media to Drive Customer Loyalty Harnessing the Full Power of Social Media to Drive Customer Loyalty Social CRM Strategy for Loyalty Marketers Marc Steiner, Principal Clay Walton-House, Senior Manager Antje Helfrich, Manager 1 Defining

More information

Continuous customer dialogues

Continuous customer dialogues Infor CRM Continuous customer dialogues Strategies for growth and loyalty in multi-channel customer-oriented organizations Table of contents Overview... 3 The continuous customer dialogue vision... 4 Create

More information

BUSINESS INTELLIGENCE: IT S TIME TO TAKE PRIVATE EQUITY TO THE NEXT LEVEL

BUSINESS INTELLIGENCE: IT S TIME TO TAKE PRIVATE EQUITY TO THE NEXT LEVEL BUSINESS INTELLIGENCE: IT S TIME TO TAKE PRIVATE EQUITY TO THE NEXT LEVEL BUSINESS CONSULTANTS DEEP TECHNOLOGISTS In a challenging economic environment, portfolio management has taken on greater importance.

More information

When Engaging the Right Talent, One Size Does Not Fit All

When Engaging the Right Talent, One Size Does Not Fit All When Engaging the Right Talent, One Size Does Not Fit All Candidate Preferences in Job Search and Interview Practices This is the first in a five-part series from ManpowerGroup Solutions analyzing the

More information

THE FRANCHISE ONBOARDING PLAYBOOK

THE FRANCHISE ONBOARDING PLAYBOOK THE FRANCHISE ONBOARDING PLAYBOOK PRE-GAME THOUGHTS It wasn t that long ago that employers could hold a one- or two-day orientation program for new hires and pat themselves on the back for a job well done.

More information

How to Gain Actionable Insights from Social Media

How to Gain Actionable Insights from Social Media How to Gain Actionable Insights from Social Media HOWARD GREENSTEIN Social Media Strategist and Evangelist, President of the Harbrooke Group Companies are spending time and money creating their social

More information

Whitepaper Executing a Loyalty Program Checkup is not just about updating the Program Design A Plea for Considering the Internal Hygiene Factors of a

Whitepaper Executing a Loyalty Program Checkup is not just about updating the Program Design A Plea for Considering the Internal Hygiene Factors of a Whitepaper Executing a Loyalty Program Checkup is not just about updating the Program Design A Plea for Considering the Internal Hygiene Factors of a Loyalty Program. get-focused.com May 2018 Introduction

More information

The ROI on Member Retention

The ROI on Member Retention The ROI on Member Retention Why Focus on Member Retention? The Myths Around Member Retention Retention is About Loyalty, Not Satisfaction The Lifetime Value of a Member The Key to Retention is Member Relationship

More information

Winning and Keeping Customers Trust

Winning and Keeping Customers Trust Universal Banking Solution System Integration Consulting Business Process Outsourcing IT'S SOMETHING that makes a serious difference to building and maintaining customer relationships. It is part of every

More information

Long-Term Value Creation through Effective Post- Merger Integration

Long-Term Value Creation through Effective Post- Merger Integration Long-Term Value Creation through Effective Post- Merger Integration (and how football teams aren t that different from hospitals pursuing successful transaction strategies White Paper MARK REIBOLDT, MBA

More information

Meeting Guide and Agenda by Course

Meeting Guide and Agenda by Course Meeting Guide and Agenda by Course Kickoff Meeting 1. Introduction of all attendees. 2. Go over the purpose of the program. Explain why the firm has chosen to invest in the program and how the program

More information

THE LPL INDEPENDENT ADVISOR INSTITUTE TAKE THE NEXT STEP FOR YOUR FUTURE

THE LPL INDEPENDENT ADVISOR INSTITUTE TAKE THE NEXT STEP FOR YOUR FUTURE 1 THE LPL INDEPENDENT ADVISOR INSTITUTE TAKE THE NEXT STEP FOR YOUR FUTURE Make Your Mark on the World As you prepare for the next chapter of your professional journey, do you find yourself seeking more

More information

ATTRITION: THE SILENT KILLER

ATTRITION: THE SILENT KILLER ATTRITION: THE SILENT KILLER Executive Summary: Attrition is a key metric in the security industry. Your rate of attrition directly impacts the health, profitability, and ultimate value of your security

More information

Breaking Through to High Performance - Unleashing the Power of Learning BPO

Breaking Through to High Performance - Unleashing the Power of Learning BPO Breaking Through to High Performance - Unleashing the Power of Learning BPO April 2005 - Harry H. Brakeley Organizations increasingly seek trusted collaborators to help them achieve high performance through

More information

A BIT ABOUT US. Richardson and our clients are highly recognized and have won numerous industry awards, including the following:

A BIT ABOUT US. Richardson and our clients are highly recognized and have won numerous industry awards, including the following: Founded in 1978, we are headquartered in Philadelphia and have international offices in the UK, Singapore, Australia, and additional satellite offices around the globe. A BIT ABOUT US We re Richardson,

More information

Be a Hero in Boom Times Not Just in Bust Times

Be a Hero in Boom Times Not Just in Bust Times Be a Hero in Boom Times Not Just in Bust Times BE A HERO IN BOOM TIMES NOT JUST IN BUST TIMES Patrick Connaughton Research Director, The Hackett Group The Hackett Group The Evolving Business Environment

More information

Winning at Implementation, Losing at Effectiveness

Winning at Implementation, Losing at Effectiveness Winning at Implementation, Losing at Effectiveness 5 Ways to Achieve Better Win/Loss Results Based on the 2017 Fletcher/CSI Global Win/Loss Survey Results (Updated from the 2015 Fletcher/CSI Global Win/Loss

More information

Definitive Guide for Better Pricing. Build a solid pricing foundation that will help you create consistent sales and profit growth.

Definitive Guide for Better Pricing. Build a solid pricing foundation that will help you create consistent sales and profit growth. Definitive Guide for Better Pricing Build a solid pricing foundation that will help you create consistent sales and profit growth. INDEX Introduction 2 Identifying New Customers 4 Here Are Some Questions

More information

Building High-Quality and Complete Product Information

Building High-Quality and Complete Product Information Building High-Quality and Complete Product Information Using Best Practices and Technology Investments to Optimize Product Value WHITE PAPER Prepared for: Copyright Ventana Research 2017 Do Not Redistribute

More information

Operationalizing NPS Benchmarks. How to Use Comparative Data to Drive Customer Experience Success

Operationalizing NPS Benchmarks. How to Use Comparative Data to Drive Customer Experience Success Operationalizing NPS Benchmarks How to Use Comparative Data to Drive Customer Experience Success Overview Net Promoter Score (NPS ) has become the most widely accepted measure of customer loyalty and retention.

More information

Selling Search. Presenter: Doug Beabout Owner, Doug Beabout Group

Selling Search. Presenter: Doug Beabout Owner, Doug Beabout Group Selling Search Presenter: Doug Beabout Owner, Doug Beabout Group Doug Beabout brings over thirty years of expertise in top billings, placement firm ownership and industry training. His reputation for training

More information

Alarge building materials company was experiencing a

Alarge building materials company was experiencing a A Skeptic s Guide to the Value of Strategic Executives tend to require a high standard of proof before agreeing to a new pricing action because the consequences are so weighty for a business. But managers

More information

Measuring, Monitoring and Improving Customer Experience

Measuring, Monitoring and Improving Customer Experience Measuring, Monitoring and Improving Customer Experience customer More than ever, superior customer (CEM) is lending businesses a key competitive edge in a global marketplace. However, implementing the

More information

THE COMPLETE GUIDE. to Engaging the Modern B2B Buyer

THE COMPLETE GUIDE. to Engaging the Modern B2B Buyer THE COMPLETE GUIDE to Engaging the Modern B2B Buyer B2B buyers have changed. ARE YOU PREPARED? The modern B2B buyer has evolved into a hybrid of characteristics seen in B2B and B2C consumers. Once rational

More information

The Missing Piece of the Customer Experience Puzzle: Customer-Centric Employees

The Missing Piece of the Customer Experience Puzzle: Customer-Centric Employees The Missing Piece of the Customer Experience Puzzle: Customer-Centric Employees WHY THIS MATTERS Consistently delighting customers requires listening to what they have to say, learning from their experiences,

More information

Attracting and retaining customers with insights-driven dynamic pricing

Attracting and retaining customers with insights-driven dynamic pricing IBM Commerce White Paper IBM Software Attracting and retaining customers with insights-driven dynamic pricing Strategic scenarios for reacting to competitor and market activity 2 Attracting and retaining

More information

DECA Ryerson Case Guides Business to Business Marketing

DECA Ryerson Case Guides Business to Business Marketing Key Terms Acquisition Costs: The incremental costs involved in obtaining a new customer. Agent: A business entity that negotiates, purchases, and/or sells, but does not take title to the goods. Benchmark:

More information

DON T LET TALENT BE YOUR SUPPLY CHAIN S WEAKEST LINK: 3 LESSONS

DON T LET TALENT BE YOUR SUPPLY CHAIN S WEAKEST LINK: 3 LESSONS DON T LET TALENT BE YOUR SUPPLY CHAIN S WEAKEST LINK: 3 LESSONS 1/16 LOOKING FOR ADVICE ON STRENGTHENING YOUR SUPPLY CHAIN? You won t need to look very hard. Open any industry book, magazine or website

More information

Capturing synergies to deliver deal value

Capturing synergies to deliver deal value November 2012 Capturing synergies to deliver deal value A publication from PwC's Deals M&A Integration practice At a glance Value realized from an acquisition depends on how well the newly combined company

More information

THREE WAYS TO OPTIMIZE YOUR RESOURCES FOR GROWTH

THREE WAYS TO OPTIMIZE YOUR RESOURCES FOR GROWTH THREE WAYS TO OPTIMIZE YOUR RESOURCES FOR GROWTH GROWTH. FROM THE INSIDE OUT. As much as businesses are known to require capital to grow, it is not uncommon to find cost-cutting and product innovation

More information

SAP BW Consulting, Inc s. Value Creation Proposition

SAP BW Consulting, Inc s. Value Creation Proposition www.sapbwconsulting.com SAP BW Consulting, Inc s Value Creation Proposition E-Mail: Lonnie.Ayers@SAPBWConsulting.com We Don t Try to Fit a Square Peg in a Round hole 2 TABLE OF CONTENTS Client Value Creation

More information

American Public Health Association

American Public Health Association American Public Health Association Slide 1 Slide 2 Slide 3 Slide 4 Overview What Keeps of Survey Your Members Findings up at Night? Slide 6 What Does This Mean? What Overview Does A Successful of Survey

More information

2017 Business Trends in Consulting. Resource Associates Corporation Phone:

2017 Business Trends in Consulting. Resource Associates Corporation  Phone: 2017 Business Trends in Consulting Resource Associates Corporation www.rac-tqi.com Phone: 800.799.6227 Email: success@rac-tqi.com This ebook will share relevant information on the business trends for consulting

More information

Marketing: Managing Profitable Customer Relationships

Marketing: Managing Profitable Customer Relationships Marketing: Managing Profitable Customer Relationships Chapter 1 Learning Goals 1. Define marketing and the marketing process. 2. Explain the importance of understanding customers and identify the five

More information

Right Customers. Nurturing the COVER STORY. By measuring and improving Customer Lifetime Value, you ll be able to grow your most profitable customers.

Right Customers. Nurturing the COVER STORY. By measuring and improving Customer Lifetime Value, you ll be able to grow your most profitable customers. By measuring and improving Customer Lifetime Value, you ll be able to grow your most profitable customers. Nurturing the Right Customers By V. Kumar and Bharath Rajan Companies often measure their success

More information

Visionary Leadership. Systems Perspective. Student-Centered Excellence

Visionary Leadership. Systems Perspective. Student-Centered Excellence Core Values and Concepts These beliefs and behaviors are embedded in high-performing organizations. They are the foundation for integrating key performance and operational requirements within a results-oriented

More information

WHITE PAPER Funding Speech Analytics 101: A Guide to Funding Speech Analytics and Leveraging Insights Gained to Improve ROI

WHITE PAPER Funding Speech Analytics 101: A Guide to Funding Speech Analytics and Leveraging Insights Gained to Improve ROI s WHITE PAPER Funding Speech Analytics 101: A Guide to Funding Speech Analytics and Leveraging Insights Gained to Improve ROI 1-800-639-1700 mycallfinder.com A Guide to Funding Speech Analytics and Leveraging

More information

Capturing Customer Value in a Multichannel World SAS Marketing Automation at Northern Tool + Equipment

Capturing Customer Value in a Multichannel World SAS Marketing Automation at Northern Tool + Equipment Webinar summary Capturing Customer Value in a Multichannel World SAS Marketing Automation at Northern Tool + Equipment Webinar summary Northern Tool + Equipment Co. began as a mail-order catalog for the

More information

Financial Sales Execution Training

Financial Sales Execution Training Financial Execution BACKGROUND Today s financial buyers require sales teams to understand their organization, their corporate objectives and performance, and the specific requirements of their industry.

More information

How to become a CLTV aligned organization?

How to become a CLTV aligned organization? Abstract The significance of Customer Lifetime Value (CLTV) is now being increasingly acknowledged among the decision makers around the world. However, only a few actually take the plunge and implement

More information

Enterprise Value Management

Enterprise Value Management Delivering on the Promise of "Value-Add" Enterprise Value Management Client Challenges How can I reduce the risk of my investment strategies failing? It s easy to say what we have to spend more money on.

More information

Information Governance at Work An IGI Case Study Series

Information Governance at Work An IGI Case Study Series Information Governance at Work An IGI Case Study Series PANDORA MEDIA How Pandora Tuned In to Information Governance Control of Its Most Sensitive and Valuable Information Assets 1 - Compliments of About

More information

Integrators Evolve. Alongside Industry

Integrators Evolve. Alongside Industry Systems Tips for Integrators Evolve to Alongside Industry The face of the security industry continues to grow and evolve into one that resembles a service industry. Systems integrators need to be vigilant

More information

Creating Leading Value

Creating Leading Value Creating Leading Value Your Responsibilities Create and protect a culture of value creation Build and sustain a value creating sales force Build value creating salespeople 38 Mindset Skill Set Tool Kit

More information

DELIVERING ON YOUR M&A PROMISES M&A SOLUTIONS

DELIVERING ON YOUR M&A PROMISES M&A SOLUTIONS DELIVERING ON YOUR M&A PROMISES M&A SOLUTIONS Make your corporate deal a lasting success by getting your leaders, organization and talent in sync. Reach new markets. Design more innovative products. Create

More information

Customer Loyalty Techniques for Business to Business Marketing Programs

Customer Loyalty Techniques for Business to Business Marketing Programs Customer Loyalty Techniques for Business to Business Marketing Programs Overview Times have and continue to change for B2B marketers. Now, more than ever, drawing upon behavioral and statistical insight

More information

Putting Workforce Analytics to Work: Achieving Objectives and Realizing Outcomes

Putting Workforce Analytics to Work: Achieving Objectives and Realizing Outcomes Putting Workforce Analytics to Work: Achieving Objectives and Realizing Outcomes Workforce analytics turns people and business data into actionable intelligence. If you re in HR, you ve no doubt noticed

More information

MONETIZING CUSTOMER EXPERIENCE

MONETIZING CUSTOMER EXPERIENCE MONETIZING CUSTOMER EXPERIENCE By Janet LeBlanc President Janet LeBlanc + Associates Inc. Management guru Peter Drucker, often referred to as the founder of modern management, famously proclaimed the purpose

More information

Creating Unique Data Assets to Drive Marketing Predictions and Actions. The Second-Party Data Advantage

Creating Unique Data Assets to Drive Marketing Predictions and Actions. The Second-Party Data Advantage Creating Unique Data Assets to Drive Marketing Predictions and Actions The Second-Party Data Advantage 1 Industry Trends The second-party data movement has quickly emerged as an innovative solution for

More information

Effective Interviewing

Effective Interviewing American Chemical Society Effective Interviewing Version 2.0 Copyright 2009. American Chemical Society. All rights reserved. 1 Effective Interviewing: Introduction Doing well at interview is not nearly

More information

Prepared Remarks of Edison International Edison Insight Series Conference Call: Edison Energy Strategy September 18, 2017, 1:30 p.m.

Prepared Remarks of Edison International Edison Insight Series Conference Call: Edison Energy Strategy September 18, 2017, 1:30 p.m. Prepared Remarks of Edison International Edison Insight Series Conference Call: Edison Energy Strategy September 18, 2017, 1:30 p.m. (PDT) Pedro Pizarro, President and Chief Executive Officer, Edison International

More information

Understanding and Mitigating IT Project Risks BY MIKE BAILEY AND MIKE RIFFEL

Understanding and Mitigating IT Project Risks BY MIKE BAILEY AND MIKE RIFFEL Understanding and Mitigating IT Project Risks BY MIKE BAILEY AND MIKE RIFFEL Technology projects can present organizational challenges, and the associated risk is one of the finance officer s primary concerns

More information

Oracle Marketing Cloud Transforming Businesses Through Enhanced Customer Experiences. An Exclusive Company Overview for

Oracle Marketing Cloud Transforming Businesses Through Enhanced Customer Experiences. An Exclusive Company Overview for Oracle Marketing Cloud Transforming Businesses Through Enhanced Customer Experiences An Exclusive Company Overview for Table of Contents Section 1: Brand Alignment and Mutual Customer Vision.... 8 Two

More information

Revenue synergies in acquisitions In search of the Holy Grail

Revenue synergies in acquisitions In search of the Holy Grail Revenue synergies in acquisitions In search of the Holy Grail In search of the Holy Grail Although most deal synergies are anticipated to come from revenue, 1 few acquirers actually achieve more than

More information

Digital transformation in underwriting: what it means and how to get there

Digital transformation in underwriting: what it means and how to get there Digital transformation in underwriting: what it means and how to get there Every part of the insurance industry is talking about digital transformation. Underwriting, the traditional heart of the insurance

More information

Enhancing deposit profitability Beat the marketplace squeeze by applying advanced analytics to your deposit business

Enhancing deposit profitability Beat the marketplace squeeze by applying advanced analytics to your deposit business Enhancing deposit profitability Beat the marketplace squeeze by applying advanced analytics to your deposit business Deposits form the foundation of most financial institutions operations. Not only are

More information

MARKETING RESULTS FIRM PROFILE

MARKETING RESULTS FIRM PROFILE MARKETING RESULTS FIRM PROFILE Isn t it strange how princes and kings, and clowns that caper in sawdust rings, and common people, like you and me, are builders for eternity? R.L. Sharpe MARKETING RESULTS

More information

Asset Complexity Management

Asset Complexity Management Asset Complexity Management Simplifying network asset complexity for the communications industry By Leah Goldman and Andy Kohok 2 Most communications service providers invest a great deal of resources

More information

Creating a Customer Centric Organization

Creating a Customer Centric Organization RESEARCH BRIEF Creating a Customer Centric Organization The Key Drivers of Customer Loyalty Bill Kowalski Integrity Solutions The Sales Management Association +1 312 278-3356 www.salesmanagement.org 2009

More information

Good afternoon, welcome to our annual shareholder meeting. I am Lee Rudow, President and CEO of Transcat and I will provide an overview of the

Good afternoon, welcome to our annual shareholder meeting. I am Lee Rudow, President and CEO of Transcat and I will provide an overview of the 1 Good afternoon, welcome to our annual shareholder meeting. I am Lee Rudow, President and CEO of Transcat and I will provide an overview of the current state of Transcat an our direction for FY17 and

More information

PAPER CX Governance. CX Governance. Align your organization around a unified CX objective to achieve better business results. MARITZCX.

PAPER CX Governance. CX Governance. Align your organization around a unified CX objective to achieve better business results. MARITZCX. CX Governance Align your organization around a unified CX objective to achieve better business results. 1 BUILDING A SUCCESSFUL CX PROGRAM IN A DIGITAL WORLD Your success ultimately depends on how well

More information

REDESIGN PARTNERS. Redesign Roadmap

REDESIGN PARTNERS. Redesign Roadmap REDESIGN PARTNERS Redesign Roadmap 1 Redesign roadmap In a structured model which has proven to work Sale Business Transformation Sourcing & Scanning Strategy development Acquisition 2 Challenging standard

More information

a Recruitment Software Provider that fits

a Recruitment Software Provider that fits 5 Steps to Help You Win Over Key Stakeholders and Invest in a Talent Acquisition Software Suite That You Will Love. a Research ebook by: HIRING INSIGHTS WHY INVEST IN TALENT ACQUISITION? B2C technology

More information

Unlocking the Value of Metrics

Unlocking the Value of Metrics Accenture Utilities Podcast Series Unlocking the Value of Metrics An interview with Wade Malcolm, managing director of North America grid operations for Accenture, and recommendations on how utilities

More information

Prime Performance Modeling. Changing the face of modeling through superior techniques

Prime Performance Modeling. Changing the face of modeling through superior techniques Prime Performance Modeling Changing the face of modeling through superior techniques Information is power Power to see. Power to understand. Power to act. Information is the power that drives business

More information

Outsourced Corporate Development: A Prudent Path to Successful Business Expansion A Sikich Investment Banking White Paper

Outsourced Corporate Development: A Prudent Path to Successful Business Expansion A Sikich Investment Banking White Paper Outsourced Corporate Development: A Prudent Path to Successful Business Expansion A Sikich Investment Banking White Paper While acquisition as a path to increasing shareholder value is often more efficient

More information