Why you lose customers

October 31, 2019 by Malcolm Gallagher Leave a Comment

In these uncertain times, you can’t afford to lose customers so here’s what you can do about it says Malcolm Gallagher of the BizVision Network.

But first, some research that I recently also chatted about from the BrexFit Bunker on the Get BrexFit podcast episode 75.

The research is from the US Chambers of Commerce and Brooks Group. It’s about customer loyalty. You know how expensive it is to get new customers so you obviously want to retain as many of your existing customers as possible. That may be hard with all the flux caused by uncertainty and the economy.

Here are the figures (see the Brooks Group graphic) why customers may leave you:

68% are upset with the treatment given to them by one of your team

14 % are dissatisfied with your product or service

9% just simply switch to one of your competitors

5% actively seek other alternatives or other relationships – It’s their nature!

3% move away

1% die or close down

Okay, those figures may not be new to some of you but I like what Brooks Group says. And it’s this that is the “nugget of learning” for you!

Based on those average percentages YOU, yes YOU, control 96% of the reasons customers will stop doing business with you. Now that means, likely with some skills training, you can remove most of the risk of customer loss.

And that’s one of the big worries of to-day out of the way for you. Probably not for your competitors because they will likely just follow the usual; bland coaching and training that is around for free.

Tackling the emotional issues around why customers leave is paramount.

So don’t forget you control at least 96% of the reasons why customers will stop doing business with you. Look at the research breakdown and tackle them. If you need any help with this then book one of my 2020 strategy sessions.

7 tactics to boost sales

August 18, 2019 by Malcolm Gallagher Leave a Comment

https://vimeo.com/354489242

By Malcolm Gallagher

Hello and welcome to 7 tactics to boost sales. Sales are the lifeblood of your business. Nothing happens until something is sold. However – often the approach to sales and selling becomes languid. So I am asking you to plan ahead with urgency and to ensure you take action to boost sales. How to do it?

Watch the video or read below for 7 tactics to boost sales.

Be clear on the BIG results you deliver for your customers. It’s not what you do that they buy, but the result they get from what they buy from you.
Know your audience or customer. Make sure you have profiled your ideal customer. A good way to target them clearly is to segment them by their need.
Now position your product or your service to deliver that BIG result you are delivering in step 1 above. Be careful that you are not fixated on what you do – remember they want results.
Make it easy or them to buy from you or do business with you. How often have you been frustrated in dealing with a business, especially say a large utility company with complicated processes and systems? Many times I have had to bluntly say to a business leader how hard it was to buy from them – -they often say they didn’t know about it! The higher up the ladder they are the more removed they often become from what’s happening at the sharp end of sales.
Add value to your customers by teaching them. Use your knowledge, expertise, and connections to help them be more successful. Use video, webinars, white papers, blogs. I often prepare for my clients what I call Go Kits which are digital learning packs.
Keep your message relevant to your prospective customer. Remember it’s not about you, or what you do, it’s about them and how they will benefit.
Execute a World Class sales set-up. You may need a little outside help here but an essential element is …….Ensure salespeople know how the BIG RESULT is delivered and how they fit into the process

REFLECTION

I trust you want to boost your sales so how will to make sure you take action on all this?

5 tips to Postpone Procrastination

June 10, 2019 by Malcolm Gallagher Leave a Comment

In this blog post, I’m bringing you my 5 top tips to postpone procrastination. Yes, I said postponing rather than say overcoming because, until you have embedded them, you’ll forever be postponing.

In this fast-moving business age, Procrastination is a serious condition suffered by too many companies. And, unfortunately, it starts at the top! Does that resonate? Here are the 5 tips:

Stop waiting for the right urge. You don’t have to feel like doing something in order to get doing it. My suggestion is to just get working.
Avoid last minute stress. Too many people put things off until the last minute in the belief that they work best that way. I suggest all that is doing is just putting additional stress on you and everyone who works with you.
Do the difficult bit first. It’s easy to be tempted in doing the easy bits first but go for the difficult bit first and you’ll feel a better sense of accomplishment what will keep you motivated
Chunk the job. For many years I felt that I had to do a big job al at once. Inevitably distractions interrupted and I kept having to restart. Then I started chunking my big job into smaller ones and I accomplished more.
Don’t punish yourself. Far too many people punish themselves when starting a job late. They’ll do things like skip meals, take no breaks even fall asleep at their computer. Don’t do this it only makes matters worse. Don’t worry about the late start or, as someone once told me, forgive yourself and move on.

And a final warning about procrastination is the well-known saying “You may delay but time will not”. What will you do about these 5 top tips? Do you procrastinate or does a colleague?

If you have any other postponing procrastination tips then Please email mg@bizvision.co.uk or comment below.

Winning at times of uncertainty – like NOW!

May 29, 2019 by Malcolm Gallagher Leave a Comment

Hello, its Malcolm Gallagher host of the BizVision.co.uk network of online business channels.

The words worry and uncertainty are looming larger than ever in UK business at the moment.

Yes, there’s a lot of frustration and annoyance but what is concerning is very little action being taken. Inaction causes decay. Coming up are my ten principles of winning at times of uncertainty.

Get the right mindset – times of uncertainty brings an opportunity to build your business. I know I’ve been around long enough and done it.
Don’t assume your business category will behave like all the others. Are you paying attention to the trends and what’s happening in your sector? There’s lots of information out there for you to grab & use.
Run what I call “opportunity scans” to inform & strengthen your win strategy. Too many businesses are too introvert and don’t think laterally enough. Sometimes a fresh pair of eyes works wonders in seeing the opportunity.
Raise your game at the Point of Purchase. How are you helping your customer make the decision to buy you? Or let me put it another way, where, or how, are you preventing your customer from buying. You’ll likely need an honest approach to manage this one!
Know who your priority customers or buyers really are and what they are doing, thinking, feeling right now. How important to them is what you make, do or offer? How can you remind them of this importance so that you are NOT downgraded in their purchasing priority?
Watch your competitors even more carefully and act against them decisively. Don’t be soft here as they are likely to be predatory in these uncertain times. I wrote and filmed recently about how to stop them from stealing your customers by using my negativity strategy. Click here for the “stop them stealing your customers” post
Maximise your Marketing Mix – be flexible and experimental. Marketing is constantly changing in its channels and reach. Customers are constantly changing in their behaviour and needs. Don’t just stick to what you have been told is the norm. Make sure that, at the very least, you are measuring your marketing effectiveness with sound KPIs that are focused on the pull through to revenue.
Spend and act smart – make efficiency and effectiveness your watchwords. Allow no waste and no complacency. What’s your conversion rate from enquiry to a customer? Is it slipping or improving? What’s the average spend? How long are sales taking to get through your sales funnel? Make sure you employ my favourite assistant here. She’s called Ruth Less!
Prioritise keeping current customers over getting new ones (unless you can manage both!) Make sure you are ring-fencing existing customers and giving them all the benefits you would give to a new customer. Think creating a community or tribe to draw in their loyalty.
Show leadership (both internally & externally) Show it with your close team, your broader company, your influencers, your customers and especially your suppliers.

I constantly see a lack of leadership in businesses but what I also see is the decay happening to that business and the missed opportunity from inadequate leadership. I’m not blaming those leaders, many of whom may not have ever experienced uncertain times. My grey hair testifies that I’ve lived and survived through a number of them!

So get stuck into the ten principles. Add or subtract as you want but at least do something! Have I missed any or have you got any to add?

Stop them stealing your customers – a 2-in-1 strategy

May 21, 2019 by Malcolm Gallagher Leave a Comment

In tough or uncertain times, like now, then its quite normal for businesses to get predatory on their competitors. They do this by attempting to lure the competitors’ customers says Malcolm Gallagher of Bizvision.co.uk

The key question is what are you doing to keep your competitors out of your best customers?

And a second question could be what are you doing to attract the customer of your competitors?

Coming up is a 2 in 1 strategy you can use to answer both questions

First, let’s address keeping your customers out of the hands of your competitors.

Sometimes the loss of a customer comes with a great shock. You may have a great and long track record with them, you may excellent customer service ratings from them, and you may have felt secure in your relationship.

And then suddenly they sign with a competitor. Worse still it may be a competitor you have not seen before or one who cannot offer the depth of service and expertise that you do. You’ve been blind-sided.

However, you shouldn’t be surprised that it happens!!

Long term relationships usually breed some form complacency. Too much familiarity for example, or not spending enough time connecting across your customer and its people is another.

That’s your “failure” reasons but you also need to consider the cunning or strategic approach by competitors.

One of the ways I coach people to steal customers from competitors is to develop an outflanking strategy.

Often you CANNOT steal a competitor’s customer in straightforward like-for-like situation. So you need to become a game changer.

For example, you may like to help your target prospect evaluate how they buy your type of goods or services. You can do this effectively, informatively and persuasively with white papers or articles or videos or blog until you can get to make a meeting and presentation. Of course, you always insert into such material the criteria that play to your strength!

Aim to change the focus of your discussion away from what has been the traditional approach to their buying whatever it is you make or offer. Look carefully at the validity from a buyer’s perspective of your Value Proposition ( you do know it don’t you?), how they “see” your offer and its ROI for them.

Now you need to do something that most businesses will not. Most will run away from doing this which is great for you provided you are not a runner also!

The best way to stop your competitors being stolen is to think NEGATIVELY. Yes, I did say think negatively, half-empty, gloom-mongering whatever you want to call it!

It’s about deep diving into what could go wrong.

I coach people to first assume the role of their competitors and then to plan an attack on their own customer base!

It’s not easy to do this as you are likely to get all defensive but surely it’s better than losing customers?

Do an honest SWOT analysis. You know Strengths, Weaknesses, Opportunities and Threats. SWOT is an oldie but goldie tool. Remember you are deep diving into negativity so truly critique yourselves against your competitors.

Oh, by the way, you do know your competitors don’t you and you do know their strengths and weaknesses? If not you better get started. Build a “Comp Set” of your top 5 competitors along with an analysis matrix. (mail me if you want a simple spreadsheet one )

Now get yourself and your team into a “blue sky” session to think about how, as one of your competitors, you’d steal one or more of your customers away. Here are some prompts for your thinking session:

What could your competitor say that may cause concern or doubt about your company?
How could your competitor show or highlight your weaknesses?
How could you be different or game-change so you wouldn’t have to compete head on?
What could your competitors do to sneak in so you don’t spot them?
Who else at your customer might get involved in the decision to select your competitor?

It can be a really enjoyable exercise if you get your team really involved. Over the years I’ve facilitated many a session for clients and I’m now not surprised what arises! Your people will love the opportunity to have their say. But don’t do it, or lead it yourself if you are not prepared to have an open session, to genuinely deep-dive and to fully explore your dangers.

Once you are clear about your, let’s call them vulnerabilities, it’s time to develop strategies and action plans to do something about them. Over to you!

Now for part 2 of this 2 in 1 strategic approach.

So far I have helped you prevent the loss of customers. Now you can “reverse engineer” my approach to create a strategy of stealing your competitors’ customers. Think about it!

Remember in tough and uncertain times your competitors will want to steal your customers. Don’t be soft. Toughen up and don’t let them. Go for theirs!