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Winning in the American Market: Module Two, Customer & Product Analysis
Customer and Product Analysis
14
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1
80% - 20% Rule
List your best customers revenue from the last full year. All information is 100% CONFIDENTIAL. If you do not want to provide customer names, simply put "Customer A", "Customer B", etc.
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2
The 80% - 20% Rule: Describe & Profile Your Best Customers
List the customers that are 20% of your total customers but represent 80% of your revenue. Describe their company profile, the products / services they buy, their size (start-up, small, medium, large) geographic location, etc.
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3
What Problems Does Your Product / Service Solve for Your Customers?
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4
Why is Your Solution Superior to Your Competitors?
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5
What Are Your Customers Biggest Pain(s)?
This is another way of looking at the PROBLEMS you solve, but may identify other areas of need.
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6
What Do Your Customers WANT?
A WANT is different than a NEED. WANTS appeal to the buyers emotional side of their brain while NEEDS appeal to the rational side of the brain. (Studies show people buy emotionally AND justify the purchase rationally so we want to address both.)
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7
What Do Your Customers NEED?
They buy your products / services for a rational reason. What is it?
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8
What Process Does Your Prospects Go Through When Making a Selection Decision?
Is it a committee decision? Review Proposals? Interview Your Staff? Capabilities Presentation?
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9
What is the Title of the Typical Decision Maker(s) for Your Product / Service?
List as many as needed. They often vary from company to company.
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10
List Your Highest Selling (Most Popular) Products / Services
These may be low revenue and low margin products / service, or simply ones that every company needs. Provide a description of
why
they are the most popular, and their transaction value and profit margins.
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11
What Are Your Most Profitable Products / Services?
List the products or services that have the
highest profit margins
. Maybe because they are the easiest to implement, or can be handled by lower-end staff or simply have the highest margins.
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12
What Products or Services Have the Shortest Sales Cycle?
List the products or services
that often sell fast,
maybe because they are a commodity vs a more "solution" sale.
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13
Considering the Services / Products You Want to Sell in the US, Do They Require Any Modifications to Suit US Customers?
List any product or service that you want to sell in the US
but needs some modification.
List the modification (ie: electrical, color, design change, packaging, etc)
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14
Do You Have "Intro" Products or Services That Lead to Other "Upsell" Products?
List those products or services that can be used as "entry" sales and result in a relationship with the customer and additional sales.
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