Your only sustainable competitive advantage is customer insight.
The Predictive Consulting Group helps companies dramatically increase customer acquisition, retention, and profitability. To do so, we help you get inside the heads of your customers and prospects to find out what they need, want, and are willing to pay for. Using customer purchase & retention drivers we help you:
At the core of our services is a Value Driver Assessment to determine the attributes and characteristics of your products and services that enable your customers to 1) Increase revenue, 2) Decrease costs, and/or 3) Mitigate risks. With this focus you will know unquestionably & incontrovertibly your target market’s hot buttons and will be able to reel in your customers and prospects with quantifiable value and performance against these Value Drivers.
Predictive Consulting Group’s Customer Snapshot program is designed to help companies identify and retain their best and most profitable customers, and to learn the key to remaining successful even during these challenging economic times. The program provides clear and actionable insight that helps you:
- Identify and keep your best customers
- Align marketing and sales to attract more of your most profitable and valuable customers
- Develop new competitive strategies to defend prices and fend off hungry competitors
- Correct problems that may be driving your best customers away
- Identify product and service opportunities to better meet customer needs
The Customer Snapshot provides the foundation for sustainable growth, enabling you to stimulate demand and increase profitability. To learn more, please click here.
Most strategic planning exercises actually plan to fail. They map out in great detail the idealistic vision only somewhat less ambitious than world domination, the grand products to be created, the massive R&D investment required, and often mention something about the headcount required. And then they sit on the shelf for the next five years.
Peter Drucker said in 1954 that "the primary purpose of a business is to create and keep a customer." Strategic planning often fails because it doesn't begin and end with the customer perspective. Because customers aren't involved, the marketing strategy goes awry, taking with it the sales strategy. The products may be technologically advanced and the operations remarkably efficient, but without customers these may all be for naught.
At Predictive Consulting Group, we ground the strategy exercise in the development of a "Customer Strategy," which is the means by which you align yourself and profit from every meaningful customer segment. We select the most valuable customer segments you already serve or you want to enter and analyze customer needs in each major segment to understand exactly what they need, want, and are willing to pay for—both now and in the future. By starting with customer needs, we are then fully qualified to develop the strategic future of the business that is grounded in reality and meld it with the operational excellence required.
In general, this customer-centric strategy process includes the following steps:
- High-level customer strategy defined
- Key capabilities and competitive differentiators identified
- Strategic vision created
- Size/growth goals, guidelines, and timeline established
- Growth/profit/customer benchmarks and key performance indicators identified
- Strategic vision mapped to business unit/department missions
- Customer strategy refined and propagated to marketing, sales, product, and operations strategies
- Individual accountabilities established/refined
- Regular update and refinement process created
The most desirable outcome is a practical, real-world strategic framework that provides clarity of direction for all, and that all employees can use to evaluate decisions to best serve both the customer and the company. Finally, the customer-centric strategy must be loose enough to be regularly updated according to suddenly changing customer and market demands.
Working together, we will build a complete strategy roadmap that will include the following:
- Strategic Future
- Situation Analysis
- Industry & competitive summary
- Economic concerns
- Significant market/customer trends
- Customer Strategy
- Critical customer segments & customer value drivers for each segment
- Mapping of current products/services to customer value drivers
- Gap analysis
- Competitive threats
- Key capabilities to develop/acquire
- Growth/Profit Goals & Action Plans
- Development/Deployment Timeline
- Key Metrics, Performance Indicators, and Benchmarks
Predictive Consulting Group can help you precisely target and acquire customers at greater profit by helping you:
- Shorten the sales cycle through the discovery & leverage of specific Customer Value Drivers & Buying Center Behaviors that will avoid wasted effort, false-starts, and botched sales.
- Acquire more profitable customers as you identify the prospect segments that place the highest value on your products/services and are the least price sensitive
- Differentiate products/services and command premium prices as you refine or tier product & service offerings to reflect Customer-segment Value Drivers
- Minimize discounting by unambiguously discovering, & justifying financial Value Drivers, or the attributes & characteristics of your products/services that enable your customers to increase revenue, decrease costs, or mitigate risks.
All of the following services leverage the Value Drivers Assessment:
- Product / Service ROI Calculation & Value Justification – Using quantifiable Value Drivers, develop a justifiable ROI model to defend pricing and minimize discounting
- Marketing/Sales Collateral Review – Ensure the collateral follows a per-segment Value Driver Map to ensure the customer receives those messages and offers that exactly address their needs and purchase criteria—nothing more, nothing less
- Buyer Behavior Analysis – Go beyond simple identification of decision-maker and influencer to determine Value Drivers and expected behavior of each member of the buying center to create an iron-clad account action plan
- Value-Based Market Segmentation – Segment prospects according to Value Drivers to enable more targeted marketing and more productive sales activities
- Competitive Analysis & Positioning – Extending further than simple feature comparison, evaluate your competitors’ offerings to determine which features are truly valued and provide competitive differentiation so you don’t waste time and resources matching unwanted competitive features
Not all customers deserve to be retained. Predictive Consulting Group can help you focus your customer retention process to maximize customer profitability by helping you:
- Increase select customer retention as you identify the most valuable customers and their Value Drivers and tailor retention programs to communicate and enhance the value they care about
- Win back your most valuable customers without sacrificing profitability
- Increase profitability of existing customers by segmenting customers according to the Value they derive from your products/services and adjusting pricing of services
- Identify new products that existing customers are guaranteed to purchase
- Refine products & services so they are only delivering what customers value and are willing to pay for
- Justify product/service pricing and thereby increase renewals, repurchase, and service contract renewals by understanding the value that customers place on your products/services
All of the following services leverage these Value Drivers:
- Product/Service Applicability Evaluation – Determines how well current products and services are satisfying Customer Value Drivers and where product development or service levels need to be beefed up or scaled back to satisfy customer needs and maximize profitability
- Value-Based Customer-base Segmentation – Segment customers according to Value Drivers to enable more targeted customer retention, existing-customer marketing & sales efforts
- Customer Retention and Loyalty Program Assessment – Evaluate retention and loyalty programs in the context of Customer Value Drivers to increase effectiveness, reward appropriate behavior, and decrease customer churn
- Customer Winback Program Assessment – Examine your winback program to ensure profitable customers are targeted, meaningful offers are presented, accountability is assigned, and profitability is maintained
To enquire about these or other services you might stand in need of, please contact us.