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Design Thinking — A New Solution for an Old Problem

Design thinking is set of principles that include empathy for users or customers, collaboration among multi-disciplinary teams, goals geared to emotions, a discipline of prototyping, tolerance for failure and a relentless pursuit toward learning and reinvention. Here is how design thinking is being used to solve tough customer and business problems. More design thinking ...

Author By Chuck Schaeffer      Calendar 11/9/2019     Trackback Permalink     Hashtag Keyword #retail     Filed In Posted in CRM Strategy

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Retail Robots Lower Stock-Outs and Increase Store Revenues

Research shows that out-of-stock levels are often 3-4 times more than reported in inventory systems. Shrink, ineffective product placement, inaccessible or misplaced merchandise, or goods that are simply not found at the point of decision drive poor consumer experiences and lost retailer revenues. A retail robot named Tally brings new technology to fix this pervasive problem. More retail robots ...

Author By Chuck Schaeffer      Calendar 10/12/2019     Trackback Permalink     Hashtag Keyword #retail     Filed In Posted in Industry CRM

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Nonprofit Best Practices To Acquire, Grow and Retain Members

According to the Association Survey Results by GrowthZone, 58% of associations report a decrease or no growth in membership size. Here are several association and nonprofit best practices being used by industry leaders to increase member acquisitions, engagement and retention, and in turn, grow their associations. More association best practices ...

Author By Chuck Schaeffer      Calendar 9/7/2019     Trackback Permalink     Hashtag Keyword #nonprofit     Filed In Posted in Industry CRM

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The 3 Step Framework to Increase Sales Productivity

A Vantive sales performance benchmark research survey revealed an interesting but not surprising finding that Sales Managers top objective is to increase sales productivity. When drilling down to understand the importance of this top sales objective the reasons became clear. Organizations and sales managers most often scale their revenues by either hiring more salespeople or increasing performance of existing salespeople. Due to constraints such as time and money, the latter is the more popular choice. Here is a three-step framework to drive sales productivity improvements. More sales productivity ...

Author By Chuck Schaeffer      Calendar 8/18/2019     Trackback Permalink     Hashtag Keyword #productivity     Filed In Posted in Sales

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A 3 Step Framework to Reallocate Sales Time for Improved Performance

I recently led a sales performance benchmark research project for IBM where we surveyed 1,036 companies and ranked the participants among sales performance levels – where the top 15% were designated Best-In-Class, the middle 50% designated Medians and the lower 35% designated Laggards. We then compared several sales performance measures to understand what the Best-In-Class sales reps do differently than their lower performing peers. One item that stuck out was how top performing salespeople invest their limited time. More sales time reallocation ...

Author By Chuck Schaeffer      Calendar 7/21/2019     Trackback Permalink     Hashtag Keyword #closerates     Filed In Posted in Sales

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How to Increase Sales Closure Rates

Making making even small improvements to sales close rates (sometimes called sales win rates) can yield big increases to top line revenues. Even better, improving sales close rates is a sustainable benefit.

But for most sales leaders the goal can be elusive as poor sales close rates are a manifestation of several factors occurring much earlier in the sales cycle. Here are the 12 factors and most influential actions to improve sales win rates. More sales closure rates ...

Author By Chuck Schaeffer      Calendar 6/1/2019     Trackback Permalink     Hashtag Keyword #closerates     Filed In Posted in Sales

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How Demand Elasticity & Price Elasticity Create New Revenue Opportunities

Most companies apply untold hours to cost management but invest little more than occasional guesswork to strategic pricing. That's unfortunate as price optimization using price and demand elasticity models creates powerful levers to confidently change prices and increase revenues and margins.

Elasticity shows how price changes impact the quantity sold. Your elasticity calculation shows not just how price and demand are connected but also when to raise and lower prices to increase total revenues. More strategic pricing ...

Author By Chuck Schaeffer      Calendar 5/12/2019     Trackback Permalink     Hashtag Keyword #pricing     Filed In Posted in Marketing

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Why Culture Eats Strategy for Breakfast

Business management guru Peter Drucker coined the phrase "Culture eats strategy for breakfast." While few business leaders dispute this wisdom, far fewer understand why.

Company culture and strategy are separate but symbiotic. Culture will either contribute or undermine the strategy. In fact, while there are a lot of things the company can do to drive growth, the one thing that will directly impact everything else is culture. Company culture is the human performance engine that drives the level of success, or failure, for every business strategy, revenue initiative, operational performance or change transformation. Culture is a precursor and top contributing factor to anything and everything that requires staff effort.

Unlike strategy which is generally created from a defined and recurring process, culture is too often developed over time, by happenstance, more so than design.

Every company has a culture. Most low performance cultures are a consequence of unplanned actions, unforeseen behaviors and random outcomes. In contrast, high performance cultures are intentional, proactively designed and in a constant state of awareness and improvement. They do not leave employee productivity and business performance to chance. More company culture ...

Author By Chuck Schaeffer      Calendar 4/14/2019     Trackback Permalink     Hashtag Keyword #culture     Filed In Posted in CRM Strategy

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The Final 4 Competitive Advantages

Being competitive starts by understanding how customers make purchase decisions, what they want from their suppliers, and how you use that information to create or expand competitive advantages.

No company can invest in everything, nor be the best in everything, so it's important to focus on the areas you choose to be best, be certain those areas matter to customers and will grow your business, and that you can create or extend competitive advantages in those areas.

Competitiveness used to be gained from operational excellence, with capabilities such as leaner manufacturing or superior supply chains. But now these competencies are table stakes.

Competitive advantages used to be things like products, price, staff, service and location. But in the minds of customers these are all easily substitutable and highly commoditized.

Consumers top decision-making criteria have evolved to wanting innovative products and services, providers that know how to engage and build relationships with them, and providers that know how to deliver consistent, rewarding and memorable customer experiences. More competitive advantages ...

Author By Chuck Schaeffer   Calendar 3/3/2019   Trackback Permalink   Hashtag Keyword #competitivness   Filed In Posted in CRM Strategy

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A Guide to Marketing and Sales Alignment

For most growth organizations, marketing only has one function, which is to attract, acquire, grow, retain and recover customers. If you consider this to be five functions, you risk creating a piecemeal marketing operation. Done correctly, they are joined steps in the customer life cycle continuum.

Of this five-step continuum, marketing can only control the first step. The last four steps require alignment with the sales organization. Sales and Marketing alignment defines a symbiotic relationship and orchestrated effort among the company's two top revenue contributors using shared strategies, integrated processes, common technologies and joint success measures. Sales and marketing are separate but synergistic and should be in lockstep to achieve the company's vital goal of revenue growth. More Marketing and Sales alignment ...

Author By Chuck Schaeffer   Calendar 2/22/2019   Trackback Permalink   Hashtag Keyword #salesmarketingalign   Filed In Posted in Marketing

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How to Create a Winning CRM Strategy

The top cited reason for CRM software failure and disappointing results is a poor or missing CRM strategy.

Reaching any unknown destination requires a plan and map. CRM strategy is a lot like a map. You need to understand where you are starting from, where you want to go, and invest in some planning to plot the shortest route to get there.

Short change your planning, and your CRM strategy adopts a trial and error approach, which is certain to incur some wrong turns and detours that result in questionable leadership, a more chaotic execution and the waste of valuable time and resources. More CRM strategy ...

Author By Chuck Schaeffer   Calendar 1/2/2019   Trackback Permalink   Hashtag Keyword #crmstrategy   Filed In Posted in CRM Strategy

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