Customer Relationships – A new metric

By October 14, 2016Uncategorized

SHAMELESS SELF-PROMOTION ALERT!!!

Yes shameless, but there’s a real, relevant point here too. We all know the vital importance of constantly improving the quality of relationships with clients. That means it MUST be measured and tracked client by client.

TYBobbleheadI’ll provide two different sets of metrics you might use, but first… Here’s my new customer relationship metric:  Number of clients who have presented you with your very own bobble-head doll of yourself. (Proof that I got one shown here to the right… How awesome is that!)

And now back to the real point… Here’s one way to put numbers on relationship quality based on how your value is perceived:

  • Level 4 – Total Cost of Ownership (TCO); That is, your proposals provide a hard number analysis – dollars, time, quantities, etc. – of impact on the customer’s business according to the customer’s financial business model.
    • The customer is willing to pay a premium because of the “extra” services provided,
      – OR –
    • The customer always calls you first for help and gives you the “last chance” to bid.
  • Level 3 – Value Added; That is, justification is grounded in improvements to the customer’s business processes; AND, one of the following is also true:
    • The customer is willing to pay a premium because of the “extra” services provided,
      – OR –
    • The customer always calls you first for help and gives you the “last chance” to bid.
  • Level 2 – Features and Benefits; That is, justification is based on how the features & functions provided by your proposal fulfill customer specifications.
  • Level 1 – Price; Need I say more?
  • Level 0 – Hope; That is, you have no relationship.

And here’s another based on how the customer perceives your personal value:

  • Level 4 – A sought-after business resource with executive level credibility and perspective that consistently creates innovative solutions with a proven, positive impact on customer financial statements
  • Level 3 – A consultative sales rep who understands the customer’s business in substantial detail
  • Level 2 – A useful business asset with good to strong product knowledge that keeps the customer up to date with literature and other relevant information
  • Level 1 – A messenger who transfers pricing information between the customer and the sales manager (Could be replaced by a web site and a decent e-mail system)
  • Level 0 – A friendly, doughnut-carrying visitor

Now get out there and improve your relationships with customers and prospects! Maybe you too can get your very own bobble-head doll!

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