Alpha Business Technologies Ltd. offers both advisory services and consulting services. A consulting engagement includes an exploratory audit where time is spent assessing issues as understood by the company’s management team and then providing counsel based on the our program as well as benchmarks and best practices.
A more comprehensive consulting engagement includes an in-depth audit that relies on direct interviews with company’s management, stakeholders, customers and prospects. Consulting engagements also provide customized recommendations, process development and implementation assistance.
“When you have a multi-tiered sales effort, the first thing you want to do is understand the market. You want to go out there and map the competitive landscape. You want to know what your customers are saying” **
Are you accelerating sales in the most efficient way in your company? Don’t overlook the fastest path to growing sales – your current customers!
Many companies focus, in some cases exclusively, is on the new customer acquisition – and that’s essential when you are working in a greenfield territory or market. You have to start first by acquiring new customers – but your focus should be equal to or greater on providing exceptional service and delighting your customers after the sale! Doing so will lead to the fastest ways to grow your revenues – expansion in existing accounts and referral selling.
The key is to first land your customers — no dispute there. But the key is not to move to the next customers without continuing to focus on the customers you just landed. The key is to meet the outcomes that your customers purchased and expect to achieve. The key is to meet those outcomes, resolving the pain they purchased your solution to alleviate, and meeting the KPIs they partnered with you to deliver. It is important to deliver exceptional customer service and customer delight as the foundation of your relationship with your customer.
How much business is being lost due to poor service – billions or trillions?
Per New Voice Media “Businesses are losing $62 billion per year through poor customer service.”
Per Accenture “In the U.S., the estimated cost of customers switching due to poor service is $1.6 Trillion.”
Those are two incredibly powerful and disparate quotes. The statistics are overwhelming in either case! Excellent customer service is the foundation for additional business. In this new world of subscription-based and cloud-based solutions, social media, information overload, and lots of competitors all vying for your customer’s business, you must provide exceptional service. The stats alone tell the story.
To expand your wallet share, a solid foundation must be built. Excellent customer service is absolutely the bottom line. Once you are delivering exceptional service, you have earned the right to expand your business.
Have you heard that it costs 5X more to sell to a new customer? I’ve also heard 7X and 9X, and I’ve even heard 25X.
Have you heard “On average, loyal customers are worth up to 10 times as much as their first purchase ”?
The key to growth is expanding your current base – not only do they have a lower cost of acquisition, they are more likely to buy, and they are more likely to buy more than a new customer!
- Provide Exceptional Customer Service.
- Expansion Revenue – with White Space Analysis, Up-sell and Cross-sell.
- Once you have defined the opportunities above – develop Promotions and Programs.
- Knowing your customers and becoming a trusted advisor is key – prepare Account Business Plans and conduct Quarterly Business Reviews with key customers.
- You must listen to your customers and act on their feedback. Conduct NPS and Customer Satisfaction Surveys.
- Delight your Customers Daily!