September 28, 2015

How do I get businesses to change their suppliers?

September 28, 2015

How do I get businesses to change their suppliers?

B2B Sales, Blue Print, Stump the Strategist

Watch below as we answer:

Q: I sell wholesale beauty products. How do I get therapists to trial the products and ultimately buy them?

  • Featured strategists are: 

    Glenn Bartlett — Strategy Director, 
    Step Change  

    Jeff Cooper — Senior Partner, Step Change

    Adam Long — General Manager, Step Change

  • About Stump the Strategist:

    • Questions from the floor, answered live in nine minutes
    • It's opinion, not advice
    • Step Change charges clients for advice, Stump The Strategist is free

A:

  • Consider customer lifetime value. Once someone has become a customer, how much value do they represent in the long term. According to Business Review Weekly the average customer acquisition costs are $563, and discovering how much value customers have in the long term will show you how much ‘wow’ factor you can bring to your acquisitions.

  • It’s not about the minimum amount that you can spend to gain customers, concentrate instead on the most efficient way to gain customers that will result in greater long term gain. 
  • Create a guarantee for your customers. If you go where others won’t, you’ll get results that others don’t. The key here is to be remarkable. 

  • Know your customers’ pain points, and major drivers. Use these to frame your message and reach them as business people, not as members of the general population. With a honed message you can have parity and still win. 

  • Be clear about the benefits and implications of your products. People are not concerned with the details, or the benefits but with the implication. Discover the higher-order goals of your customer, and sell them on the implication that your product can help them achieve those goals.

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