"Why You?" -- Professional Identity BrandingWritten by Bill Willard
You can have first-rate products and services, but if you can't establish need, communicate benefits and differentiate yourself from competition in ways that make people want to do business with you, you’ll forever be selling up hill. As Robert Krumroy, Identity Branding, Inc. says: “Branding is about customer--who has never met you--being able to answer question: ‘Why you?’" Your "Value Proposition” Your brand can be based in large part on your “value proposition,” which is what differentiates you from your direct and indirect competition—and, if it’s good enough, will draw people to you. Your value proposition should be a clear, concise statement of why your business is unique and a better choice. Your market positioning, competitive analyses and SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) gives you everything you’ll need to develop a value proposition based on your strengths, your competition, what your “ideal” customer wants from you, and how this benefits people in your markets. This message must be delivered to your markets consistently and repeated frequently. If prospects understand what they need, trust you and connect emotionally with your message, sales resistance melts before your eyes. Yes, it’s that powerful! First Impressions, Last Short-term, smart professional branding gives you immediate recognition, market access and momentum you need to attract customers and build sales; long-term, it can help increase market share, foster customer loyalty, sustain your client-building efforts—and practically guarantee clients will eagerly refer you to others (“Hey, look what I’m part of! You should be too!”).
| | CRM -- Turning Customers Into ClientsWritten by Bill Willard
Estimates that 20 percent of customers account for 80 percent of total revenues in some businesses is a wake-up call! Finding new business a climate like that is expensive, and often unrewarding. As Barry Stamos points out in “'Best' Customers: More Profitable Relationships” (Email Marketing Newsletter), “Why spend resources attracting new customers until optimizing profitability of your client relationships?”More Bang for Your Buck Customer Relationship Management (CRM) is organizing and maintaining strategic connections with clients and customers to turn that sorry 20/80 stat on its ear. “Successful CRM is about competing in relationship dimension” explains Bob Thompson, CEO, CustomerThink Corporation, “Not as an alternative to having a competitive product or reasonable price- but as a differentiator. If your competitors are doing same thing you are (as they generally are), product and price won't give you a long-term, sustainable competitive advantage. But if you can get an edge based on how customers feel about your company, it's a much stickier--sustainable--relationship over long haul.” Putting Clients First Service is a client-centric activity, but there’s plenty in it for you, too. For small-business owners (SBOs) and independent professionals, developing and managing healthy client relationships and providing superior service increases cross-selling and up-selling opportunities, and can spin off endless chains of high-leverage qualified referrals. Building on your client base also increases profitability, by cutting front-end marketing time and costs; but it’s quality of those relationships that affects persistency, enhances your professional reputation, and can lead to future business from your hard-earned clients. Technically, of course, when you make a sale, you don’t have a “client,” you have a “customer”. A customer is someone who buys from you once; a client is someone who will buy from you, again and again. Clients who trust you and your expertise will come to you (and maybe only you) for your products or services. A client relationship is one in which both buyer and seller agree that first transaction was not a one-time event. Client Relationship Management goals are clear: •Being seen as confident, competent professional; •Proactively servicing your existing business and providing extra value; •Meeting additional needs as clients’ situations change, and… •Earning prestige recommendations or introductions to other qualified prospects. The buyer must accept “Client” status, however, it’s not a label that can be stuck to buyer by seller. Client relationships must be cultivated and nurtured to stay healthy. To borrow a line from former New York City mayor, Ed Koch, simply asking clients, “How am I doing?” is a great way to find out.
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