I recently sat down with Scott Alexander from Jairus Marketing for another insightful discussion about a topic that resonates deeply with both of us: shifting from a founder-led business to more sustainable business models. This is especially relevant for early-stage companies, particularly those in the healthcare sector where the CEO is vital as both the visionary and primary salesperson.
Sat, Feb 23, 2013 — Some of your best customers would probably like you to do business with them in a different manner. Maybe it’s the day you deliver your goods to them? The minimums required? Maybe it’s the day of the month that you do your billing…or the amount of paperwork that you require of them? Instead of making doing business with you easier, do you sometimes make it a bit more challenging? Successful companies seek out their customers’ pain points and eliminate them. Constantly listening to the signals from the marketplace can help you see the storm clouds gathering, and to develop the strategies necessary to meet them. In order to do that, you really need to dig deep and find out what is bothering them, and how you can go about fixing those things. Define the Pain Point
Sun, Feb 10, 2013 — Today's Chief Outsider blog is by guest blogger Diana Kyser McNeff. I recently had the opportunity to sit down and talk to Richard Shapiro, founder and president of The Center For Client Retention and author of his recently published book “The Welcomer Edge – Unlocking the Secrets to Repeat Business”. Since 1988, Richard has been running The Center For Client Retention (TCFCR) which provides research, training and consulting to Fortune 500 companies on how to improve the customer experience. Before founding TCFCR, Richard held leadership positions at ADP (Automatic Data Processing) in Client Services, Client Satisfaction and Client Retention. At ADP, he developed the idea that when there is a gap between service expectations and delivery, the client relationship is most vulnerable —a customer is most likely to move to a competitor. Richard also credits his experience working in his father’s haberdashery store as a boy as the place where he learned the true value of a customer.
Sun, Dec 23, 2012 — While working with an executive management team on customer satisfaction survey questions, they told me every survey seemed to have declining response rates. They asked me what I thought about just asking one question: “On a scale of zero to 10, how likely is it that you would recommend our company to your friends and colleagues?” My response: Have you looked into the possible reasons why the customer survey response rates are declining? Too often I’ve seen companies want to ask the would-you- recommend-us question without doing enough follow-up to understand what it is they are doing right or wrong. This is where CEOs need to lead their companies and improve.
Sun, Dec 2, 2012 — Harley Davidson, Intel, Starbucks, Apple. We all know brands that have a loyal group of customers, brand ambassadors, who love to talk about the brand and recommend them to their friends and peers. And these recommendations drive sales. According to the Boston Consulting Group, 9 out of 10 consumers and over 50% of B2B customers trust recommendations from friends, colleagues and peers when making their purchasing decisions. You can invest lots of money in marketing campaigns, but for many companies the most powerful sales driver is a recommendation from a brand ambassador. And a strategic brand ambassador program may be the difference-maker in your bottom line.
Wed, Nov 7, 2012 — My International Business Class This week, teaching my Business class at Rutgers was tough. Students had been without power or internet access for a week, mass transit was a mess and some students had waited in line more than four hours to buy gas. At the same time, none of us had suffered any real loss of property or injuries like others that we knew or had heard about.
Thu, Oct 4, 2012 — What do you do when you want to try a new restaurant? Well maybe not you in particular, but many people turn to Yelp. Yelp is a social site where members post reviews of local businesses where they eat, shop and go to for services. And many people read those reviews. In fact, Yahoo News reported that a 1/2 star change in reviews can increase customers in the restaurant by almost 20%.