Customers constantly change their consumer and purchasing behavior. Value- and relationship-based sales management consists of three areas of effort that, in combination, provide the company with a platform leading to a more targeted, successful, and loyal relationship with selected customers.
Price, credibility, responsibility, and positive behavior toward the customer must coexist. Products must have a reasonable price and quality and must be delivered with love and respect for the customer and the environment.
Credibility and loyalty are created as results of a consistent emotional imprint. If your company wants to achieve success in this market segment, it must operate within these three dimensions:
- Impression, which is the first thing customers experience when they meet the company
- Imprint, which is what you leave behind at conversations/meetings
- Expression, which is what everybody says about the company and should correspond with the individual customer’s experience
All of your employees have a personal brand (image) that must be in harmony with the company’s brand and vice versa. London Business School has done research on consumer behavior that supports the idea that emotions control our purchasing decisions to a very high degree. London Business School’s study refers to 20 emotions that either control or destroy our perception and desire to buy a company’s products. Thus, there is a direct link between a company’s ability to build emotional ties and its ability to earn money. Therefore, it is important to realize that customers and consumers use their heart more than their brain when making purchasing decisions.
Step 1: Strategic Level—Casting of Customers
- The current situation: analysis of various strategies, including interviews of selected customers, mystery service shopping (MSS), and interviews of key employees
- Loyalty analysis: which customers are loyal?
- Which customers affect whom?
- How much do we know about the customers? What needs do the customers have now and in 1–3 years?
- What type of customers can the organization establish successful cooperation with?
- What is the value of our solutions compared with the customer’s perceived value?
- 360-degree review: what is the customer’s experience when working with us?
- Casting of employee types for selected customers
- What type of customers do we need to develop?
- What type of customers do we need to have a steady income?
- How should the customers be grouped, segmented, and serviced in the future?
Step 2: Tactical Level
Services and solutions for key customers
- Based on the analysis carried out in step 1, how the organization establishes cooperation with the customers is decided (who, where, and how).
- Reporting, measurement, reward, etc.
Step 3: Operational Level
Casting of employees and partners for the organization’s future customer teams
- Define responsibilities.
- Upgrade competences.
- Allocate resources.
Contact Soulaima Gourani to learn more about how we can help your company become more successful with value- and relationship-based selling.