Customer Retention Strategies: 5 Steps to Winning and Keeping Customers for Life

1. What is your Growth Strategy?

2. www.flickr.com/photos/12023825@N04/2898021822 Growth strategy?

3. Growth

4. Growth strategy?

5. Growth strategy?

6. Growth Retention and

7. Retention strategy

8. Retention strategy

9. SalesChannel Europe ©2016 All rights reserved Thinking at 3 Time Horizons Closing Current Opportunities: • Winning Deals • Pitching to Win • Closing Building Tomorrow’s Business: • Industry trends • Industry competitive challenges • Collaborative strategy Building the Pipeline: • Solutions to Customer business challenges • Value Propositions • Account Sales Plan Horizon 1 0 - 6 months Horizon 2 6 - 12 months Horizon 3 12 - 36 months

10. Diagnostic selling

11. Prescribing the right solution

12. SalesChannel Europe ©2016 All rights reserved 3 Phases of the Customer Life Cycle PHASE II Needs Cost Proof Risk Needs Price Proof Risk Design-in Prototyping ProductionLEVELOFCONCERN Production Availability TIME PHASE I PHASE III

13. Get it right

14. Get it wrong

15. the

16. Customers are leaving

17. Customers are defecting to other suppliers2 Unable to monetize business opportunity over full customer life cycle3 Cost/effort to win back lost customers is extremely high/prohibitively expensive4 5 Cost/effort of winning new customers is 10-15 X higher than winning new business from existing customers Unable to keep existing customers1

18. The simple solution

19. Constraint-based strategies

20. Retention strategies Our Retention Plan Customer Response

21. Retention strategies

22. Retention Strategy #1

33. The Problem?

34. the

35. Retention Toolkit

36. Mindset Matters Most1 Sell Business Outcomes not Technology2 Where are you on the Partner Sales Maturity Model?3 How and when to communicate Bad News4 Focus on your Customer’s Long-term Success5

37. Change your view

38. Anticipate the future

39. Transform your vision

40. “Attitude is a choice, and its available to all.” Its all about Attitude - Seth Godin “What actually separates winners from losers isn’t talent, its attitude.”

41. Positive attitude

42. Customer-centric attitude

43. Focus on the customer's perspective

44. Who is your Customer? Sell to Sell thru(Customer) (Customer = Partner) = ? X Transactional Relational • Short-term • One shot focused • Medium to long-term • Repeat business focused

45. Your job is to …

46. Adaptive thinking

47. Adaptive thinking

48. Personal change

49. Overcoming barriers to change

50. “Change is difficult. Not changing is fatal”

51. The cost of Legacy Thinking

52. Developing new strengths

53. SalesChannel Europe ©2016 All rights reserved Products and Services Customer Needs Customer Value and Results Basis of Value to Buyer  Products and services that meet needs Basis of Value to Buyer  Clarification of needs Basis of Value to Buyer  Business insights and advice  A range of Options  A network of resources  Follow-up to ensure satisfaction  A mutually beneficial, long-term partnership Sales Beliefs and Behaviours  Achieves product match Sales Beliefs and Behaviours  Builds customer satisfaction and relationships Sales Beliefs and Behaviours  Creates value throughout customer organisation  Believes in features and benefits  Believes in solutions  Believes in business partnership  Presents and closes Listens, explores, suggests options and proposes  Researches, anticipates, advocates and orchestrates Supplier Advisor Partner Selling Focus The New Sales Mindset

54. SalesChannel Europe ©2016 All rights reserved Mindset Shift Sales Engagement Goals Mindset Shift Move from Move to Seek to understand the big picture Linear thinking Systemic viewpoint Seek to understand the underlying behaviour Fixating on an event Observing patterns and structures Seek systemic change Short-term fixes Long-term initiatives Seek to surface limiting beliefs Jumping to conclusions Suspending judgment Seek to evolve a shared vision Boundaries around beliefs A borderless mindset

55. Possibility Mindset

56. Legacy thinking

57. “Doing exactly the same thing over and over again, but expecting a different result.” - Albert Einstein Definition of insanity

59. Future focus

60. GAP Mindset

61. Goals Aspirations Problems G A P

62. Aspirational thinking

63. Closer inspection

64. Sales Transformation = Selling Business Outcomes OLD NEW The IT Buyer The Business Buyer Selling into CapEx Budgets Selling into OpEx Budgets Technical Expertise Business Expertise Geographic Sales Territories Vertical Industry Territories Selling Features Selling Results Fixed-Price Contracts Outcome-Based Contracts Demonstrating Features Business Process Discussions Your Complexity and Underlying Architecture Your Consumption Model and Service Capability Maintenance Contracts "Apps Mindset" Face2Face Sales Skills Social Media Knowledge Source: Consumption Economics: The New Rules of Tech by J. B. Wood, Todd Hewlin and Thomas Lah, 2011

65. SalesChannel Europe ©2016 All rights reserved 66 Selling Business Outcomes • Increased revenues or profitability • Faster time to market • Decreased costs • Improved operational efficiency • Revitalizing the organization • Enhancing customer loyalty • Increased market share • Decreased employee turnover • Improved customer retention levels • Increased competitive differentiation • Faster response time • Decreased operational expenses • Increased sales per customer • Improved asset utilization • Faster collections • Reduced cost of goods sold • Minimized risk • Additional revenue streams • Improved time-to-profitability • Increased billable hours • Reduced cycle time • Increased inventory turns • Faster sales cycles • Reduced direct labour costs

66. Customers want outcomes

67. “Don't wish it were easier; wish you were better. - Jim Rohn Don't wish for less problems; wish for more skills. Don't wish for less challenges; wish for more wisdom.”

68. “Don't wish it were easier; wish you were better. - Jim Rohn Don't wish for less problems; wish for more skills. Don't wish for less challenges; wish for more wisdom.”

70. SalesChannel Europe ©2016 All rights reserved Stages of Sales Proficiency To be considered Product Casual Product options To make a sale Customer Trust Application solutions Repeat business Competition Mutualistic Business issues To dominate an account Customer’s market Symbiotic Strategic direction Emerging Salesperson Salesperson Competitive Salesperson Competitive Sales Consultant Stage I Stage II Stage III Stage IV Intent Focus Relationship Value

71. The Sales Person of the Future is a Consultant Conclusion: (with Sales Skills)

72. Dimension of Knowledge Dimension of Relationship Dimension of Partnership 1 2 3 Partner Sales Maturity

73. Dimension of Knowledge Dimension of Relationship Dimension of Partnership Top 3 customers Business development strategy Prospects introduced Top 3 suppliers Supply chain challenges Alternative suppliers introduced Top 3 competitors Activity to tackle competitive threats Suggestions made for differentiation Top 3 staff members Key vacancies/talent gaps Candidates/HR solutions introduced Top 3 business issues Value of each business issue Active assistance with 1+ issues Forecast/vision/plan for next 3 years Visibility of functional plans (where they exist) asked for input on strategic and operational business plans 1 2 3

74. - Unknown “Not a lack of resources, but a lack of resourcefulness.”

76. Transform Bad News into Good News

77. Avoidance strategy

78. 79 Sales Conversation Pendulum

79. Advocacy Inquiry VS

80. Advocacy1. giving advice 2. setting the agenda 3. talking

81. Inquiry1. asking questions 2. finding out more 3. letting the customer speak

82. White Questions Green Questions Black Questions Red Questions Current situation Facts, data & information white snow: pure, cold hard facts Desired situation Future state Grass, trees, growth, can become Obstacles Important, powerful Dark, night time, can’t see in the dark. Turn on the light to see what stands between current situation and desired situation. Feelings Fire, explosive color, highly emotional -ve Red: “If Stan doesn’t do something he won’t make his quota. He really needs some help. Stan needs to talk to you.” +ve Red: “If Stan overachieves this year, he will probably be promoted to VP Sales Asking Questions in Colour

83. Tell Ask Problem Solution Conversation Directional Compass • Describing the problem • Problem focused • Asking questions about the problem • Problem focused • Asking questions about possible solutions • Solution focused • Talking about the solution • Describing possible solutions

84. Competitive separation

86. Discovery Mindset

87. Customer Challenge #1

88. “When they imagine the future, They only see the present.” Customer Challenge #1

89. Navigate uncertainty

90. Success is the other side of failure

91. Recommended reading

92. What did sales winners do differently?* 1. Educated me with new ideas or perspectives 2. Collaborated with me 3. Persuaded me we would achieve results 4. Listened to me 5. Understood my needs 6. Helped me avoid potential pitfalls 7. Crafted a compelling solution 8. Depicted purchasing process accurately 9. Connected with me personally 10.Overall value from the company is superior to others*What Sales Winners Do Differently, RAIN Group, 2013

94. Winners practice Adaptive thinking

95. What can I do?

96. SalesChannel Europe ©2016 All rights reserved The 5Rs of Retention 1. Reality: confront the real situation and the consequential issues openly, objectively and honestly. Remain rational, avoid emotional and judgmental thinking. Stay focused on the Client's desired business outcomes. Don't become part of the problem. 2. Review: where are we now, where do we want to be? What is the gap? What can we do to close the gap? 3. Reframe: describe new situation, the alternative future(s). Focus on actions that will minimize the negative consequences of the gap, and maximise the positive. 4. Reset: reset expectations by "selling" a new vision of the future. Describe the best possible future available given the changed situation. 5. Recommit: restate your personal commitment to deliver the best possible outcome for the customer based on the current situation. Describe the personal actions that you will take to: i) minimize the negative consequences and ii) maximize the positive outcomes possible given the changed situation.

97. Retention thinking

98. Retention mindset

99. Jailbreak thinking

100. Escape thinking

101. Retention strategies don’t work

102. Future reality

103. Make them want to stay

107. Get them to your beach

114. Make them want to come and to stay

115. 1. Mindset Matters Most 2. Sell Business Outcomes not Technology 3. Where are you on the Partner Sales Maturity Model? 4. How and when to communicate Bad News 5. Focus on your Customer’s Long-term Success Quick Review: Customers want Outcomes Knowledge -> Relationship -> Partnership As soon as possible, followed by Advocacy and Inquiry Add Value through sharing Business Insights Competing to remain relevant to tomorrow’s customers Become a Business Partner

116. What is the single most important thing that top sales performers do?

117. 1. Challenge their clients 2. Inspire and educate 3. Share their insights 4. Think long-term relationships 5. Take personal responsibility for the Customer Life Cycle End2End Win, Retain & Develop New Business Create Long-term Profitable Growth

118. Personal accountability

119. If It Is To Be It Is Up To Me

120. Past Future Commitment to Change

121. To Be The Best That You Can Be My wish for you

122. Get it right

123. www.flickr.com/photos/horacio/3781750 David R Ednie President & CEO SalesChannel Europe Ph: +33 676 60 09 25 (FRA) Email: david@saleschannel-europe.com Website: www.saleschannel-europe.com

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