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| Contents: |
| Competitive
Intellegence: Resources on the Web, Sharon Locken, President, Locken Information. More Sales and Profits from Existing
Customers.
Cay Villars, President, Market Value Concepts.
Importance of Brand: Research
Products. Bill Kelly, President, BioInformatics.
Consolidation:
New Marketing Strategies in Research Products. An interview with Bruce Lehman,
President, Lehman Millet, Inc.
BioTactics Parners program -
how it benefits your business.
New Job Postings |
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What's your Current Customer
IQ™? Maximizing sales and profits using your current customer base. (p. 3) |
| by Cay Villars, Market Value Concepts |
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Purchasing agents love giving out
information when there is the possibility of developing a more cost effective contract for
future purchases. It is worth it to give a little away in pricing to
understand your customer base in the long run. Without this information, you'll feel
like you're marketing into the black whole. And it a lot of ways, you are, with no dynamic
feedback mechanism to make sure you're on target!
 If
you cannot obtain enough information on a specific customer (enduser/decision maker),
organize the information by some other "buying group" level where you can get
the information- such as a department, institution/company, or even zip code. You can
still cross correlate your marketing activity at some level by comparing sales return to
marketing program investment in a given "buying group".
The bottom line is that to be successful in markets that
are becoming increasingly complex (i.e. with consolidation, less differentiation between
products and companies), finding a way to get information about customers and their buying
choices will be essential to your "competitive" edge, if not your survival as a
company.
With a little bit of refining and sales analysis, your
current customer database could bring you a surprising amount of incremental
sales. If your company hasn't taken advantage of information technology to put
you in a good position to know your Customer IQ, this is a good opportunity for you
encourage them to provide the tools to help you more efficiently leverage your position in
the market. §
Cay Villars is President of Market
Value Concepts (MVC), a Marketing and Business Development consulting firm located
outside of Madison, Wisconsin. Market Value Concepts is the sponsor of the
BioTactics Reference Web. See also Partners.
Customer IQ is a trademark of MVC.
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