TARGET AND WIN NEW CUSTOMERS
Do you know your market? Who are your competitors? What are their strategies and how are they doing? Good market intelligence can catapult your business forward. SilverQuest can research the market and give you detailed information that can help you plan, allocate, and develop a niche that helps you stand out in a crowd.
A successful marketing program raises both revenue and profits. It also can increase your revenue growth rate dramatically. We can help you target attractive customer segments, create the desired image, and strengthen the brand. Our work focuses on customer segmentation, market positioning, and marketing strategy.
We begin by researching the market share and profit position of your products and services with respect to your competitors. We analyze the business strength of your products and services and the attractiveness of the industry. We also look at the life cycle of your products and services to determine the most favorable opportunities for investment, expansion, and resource allocation. Finally, we develop a comprehensive strategy that creates a unique market position for your products and services.
In order to grow at a healthy rate, every business has to find and cultivate new customers. Here at SilverQuest we have four distinct strategies to help you find new customers.
Marketing Strategy — discover the unique position your products or services occupy in the mind of your customers and develop a winning strategy to market that position
Customer Segmentation — identify and describe your customers according to demographic and psychographic groups and develop special strategies for each group
Customer Relationship Management — create a comprehensive process for relating to your customers from the moment someone expresses interest in your product or service and including the after sale follow-up
Innovation — design and develop a system for innovation that produces new and improved products and services, faster and more efficient processes, and positive economic benefit for stakeholders
INCREASE CUSTOMER LOYALTY
Fred Reichheld, author of The Loyalty Effect writes that “On average, U. S. corporations now lose half their customers in five years, half their employees in four and half, and their investors in one.” Reichheld contends that lasting relationships built on a respect for your customer’s interests and practices is the only way to gain lasting loyalty. Other research shows that businesses with the highest loyalty feedback delivered some of the highest financial returns.
How do you build customer loyalty? Through extensive research and experience with clients, we have discovered the following time tested principles for customer loyalty:
Determine who you customers are
Discover what your customers want
Deliver continuous defect-free, reliable products and services to customers
Deliver personalized service to customers
Deliver exceptional problem-free resolution of customer complaints
Discover and train employees who will deliver the customer requirements
Design processes to link employees to customer desires
Design strategies and processes to achieve and improve all of the above principles
Our primary strategy to implement these principles is Customer Relationship Management — creating a comprehensive process for relating to your customers from the moment someone expresses interest in your product or service to after the sale follow-up.
In order to determine who you customers are and what they want we utilize Customer Segmentation—identifying and describing your customers according to demographic and psychographic groups and developing special strategies for each group. In order to hire and train employees to deliver the customer requirements we use a variety of Workforce Performance strategies including Personality Testing and Employee Hiring and Retention Strategies. For more information, see:
Customer Relationship Management
Employee Hiring and Retention
Pricing your goods and services correctly has amazing potential to influence your profitability. Bain and Company has discovered that “for a typical company, a one percent increase in price boosts profits two to three times as much as a one percent increase in sales volume.”
We can evaluate your pricing schemes and quickly identify the optimum pricing opportunities and then customize an approach to target them successfully. Our goal is to gain market share and boost the market positioning for your products and services.
Optimizing Cost and Capital
Complexity is often the enemy of thinking clearly and acting decisively. Complexity can take many forms—marketing strategies, human resource management, financial policies, decision-making, resource allocation, and time management. SilverQuest Consulting Group believes in the power of simplicity—turning simple ideas and insights into effective strategy. Too much information can be confusing and too many strategies or too many benchmarks can be cumbersome.
Some consultants make a living by complicating the simple. We do just the opposite—simplify the complicated and help you make decisions that focus on the bottom line. We analyze your organization to find and eliminate the complexity. For more information see:
Strategic Plan Execution