HCC: Selling Market Capture WDC (ENG)

The parts and service businesses within the construction equipment Industries has never had a precise method to calculate the share of the parts market for a specific brand. To some degree this has allowed the parts business to operate without a critical performance measure being in place.

This program married the market potential, that we cover in another class, with the actual sales for a dealership for a specific brand. The market potential model allows a dealer to calculate the potential consumption of parts on specific machines. That, together with the actual parts sales, allows a calculation to be done arithmetically that determines the percentage of a customer business obtained by a dealer.

This class provides a detailed methodology to calculate the share of the market the dealer obtains. This is the market capture rate that the dealer obtains in the parts business. Ideally, we would be able to perform this calculation by machine model. Unfortunately, we do not get the model and serial number for each parts sale.

Similarly, we touch on the “mean time to failure (MTF)” statistics provided by the OEM’s for their products. With territory potential, market capture we can drive market coverage methods which with the MTF the sales force can be targeting customer needs in a timely manner. This program covers all the details and methods required to perform the calculations required to measure market capture.

HCC: Selling Market Segmentation (ENG)

Marketing is the process of identifying and satisfying customer needs. That process becomes impossible with the thousands and thousands of customers that you have in your assigned area of responsibility (AOR). As a result of that truth, it becomes important to be able to find out what the customer needs and wants, and then to be able to find common elements of their business that will allow you to group them with other customers of common needs and wants.

That is the aim of market segmentation. Market segmentation is the process by which marketeers divide potential customers into smaller groups that are looking for similar benefits from a product or service. The goal is to isolate a group that prefers these features and benefits, and to develop a sustainable differential advantage that satisfies their needs. All of the methods and processes that are required to perform this are covered in the class.

We cover the industrial focus, the individual demographics, and the psychographics. We also have to assess the dealer strengths and weaknesses, as well as reviewing the same strengths and weaknesses in the competition. All of this and much more is covered in this comprehensive program.

HCC: Selling Market Segmentation WDC (ENG)

Marketing is the process of identifying and satisfying customer needs. That process becomes impossible with the thousands and thousands of customers that you have in your assigned area of responsibility (AOR). As a result of that truth, it becomes important to be able to find out what the customer needs and wants, and then to be able to find common elements of their business that will allow you to group them with other customers of common needs and wants.

That is the aim of market segmentation. Market segmentation is the process by which marketeers divide potential customers into smaller groups that are looking for similar benefits from a product or service. The goal is to isolate a group that prefers these features and benefits, and to develop a sustainable differential advantage that satisfies their needs. All of the methods and processes that are required to perform this are covered in the class.

We cover the industrial focus, the individual demographics, and the psychographics. We also have to assess the dealer strengths and weaknesses, as well as reviewing the same strengths and weaknesses in the competition. All of this and much more is covered in this comprehensive program.

HCC: Selling Market Strategy (ENG)

The only way to position your labor business is to provide customers with something they value.  The fundamental principles of customer value are to offer something the customer wants and needs and to provide that offering better than your competition can.

This class provides methods and a road map to follow in developing a strategy. We identify three key strategies for enhancing customer value. Companies focus on being: Better – through the provision of superior quality labor and service. Faster – sensing and meeting changing customer requirements more quickly than others. Closer – creating durable linkages and even partnership with channel members and customers.

This program takes you more deeply into operational excellence offers customers good pricing as well as convenience and reliability. Then we examine labor leadership which is the result of superior product performance. Finally, customer intimacy which utilizes “micro” marketing techniques. These strategies for providing customer value indicate the importance of the marketing focus in overall strategic planning. Customer value offers a way to gain strategic advantage over competitors and to differentiate the company’s products or services.

Communications is the critical element to successful implementation of a strategy for the parts business. The final emphasis of this class is to ensure that the strategy is effectively communicated to all employees so that they will be committed to executing the strategy.

HCC: Selling Market Strategy WDC (ENG)

The only way to position your labor business is to provide customers with something they value.  The fundamental principles of customer value are to offer something the customer wants and needs and to provide that offering better than your competition can.

This class provides methods and a road map to follow in developing a strategy. We identify three key strategies for enhancing customer value. Companies focus on being: Better – through the provision of superior quality labor and service. Faster – sensing and meeting changing customer requirements more quickly than others. Closer – creating durable linkages and even partnership with channel members and customers.

This program takes you more deeply into operational excellence offers customers good pricing as well as convenience and reliability. Then we examine labor leadership which is the result of superior product performance. Finally, customer intimacy which utilizes “micro” marketing techniques. These strategies for providing customer value indicate the importance of the marketing focus in overall strategic planning. Customer value offers a way to gain strategic advantage over competitors and to differentiate the company’s products or services.

Communications is the critical element to successful implementation of a strategy for the parts business. The final emphasis of this class is to ensure that the strategy is effectively communicated to all employees so that they will be committed to executing the strategy.

HCC: Selling Overcoming Objections (ENG)

The sales process is complicated. With professional selling, we know the methods and the processes. We have an assigned sales territory, and we are responsible for market penetration and market share. But all of that is put in jeopardy if the salesman does not know how to handle the objections that the customer might present.

This is an element of the presentation class. However, because of the importance of overcoming objections, we are going to deal with them exclusively in this program. How these objections are handled can make the difference between a sales success and a failure. This program deals with the methods to employ: the “how to” of overcoming objections. In the sales process, typically you are looking for an order, or at least a positive outcome of the sales call. In order to achieve that outcome it has to be understood that the customer has to learn about what it is that you are selling. In many cases, an objection is simply an indication that the customer does not have enough information yet to make an informed decision.

From keeping your cool, to making the objection specific, and providing compensating factors, everything about the “how to” overcome an objection is exposed. You can’t afford to run the risk of losing a sale by missing this important program.

HCC: Selling Overcoming Objections WDC (ENG)

The sales process is complicated. With professional selling, we know the methods and the processes. We have an assigned sales territory, and we are responsible for market penetration and market share. But all of that is put in jeopardy if the salesman does not know how to handle the objections that the customer might present.

This is an element of the presentation class. However, because of the importance of overcoming objections, we are going to deal with them exclusively in this program. How these objections are handled can make the difference between a sales success and a failure. This program deals with the methods to employ: the “how to” of overcoming objections. In the sales process, typically you are looking for an order, or at least a positive outcome of the sales call. In order to achieve that outcome it has to be understood that the customer has to learn about what it is that you are selling. In many cases, an objection is simply an indication that the customer does not have enough information yet to make an informed decision.

From keeping your cool, to making the objection specific, and providing compensating factors, everything about the “how to” overcome an objection is exposed. You can’t afford to run the risk of losing a sale by missing this important program.

HCC: Selling Customer Loyalty WDC (ENG)

The ultimate measure of your service to customers is the loyalty that they give you with the business. That can be measured by customer retention. During the 1980’s Harvard Business School did the definitive research on this subject. That work was published in a book called the “Service profit Chain.” This is one of the foundations that is used in this class to show students the “how to” measure customer loyalty.

There is a direct correlation between employee satisfaction and loyalty and customer satisfaction and loyalty. This correlation is explored and explained in this program. Various surveys are exposed to measure employee satisfaction. This information provides recommendations for action.

The Construction Equipment Industry has conducted customer surveys every five years that asks customers about their buying habits. These surveys provided guidance to the dealers on what the percentage of defections would be in the Industry. This class provides a direct linkage that can be used on profitability related to customer retention by the parts business and the service business.

This Customer Loyalty class starts to address the retention measures to use when a customer is assigned to a specific employee. A customer assigned to a Product Support Salesmen has a retention goal, a customer loyalty goal, of 100%. The tools to perform this calculation are provided in this class.

HCC: Selling Customer Retention (ENG)

All of the training and tooling in service, and the inventories and systems in parts, and all the good work by professional salesmen will be wasted if you cannot keep your customer for life. The Japanese taught us that in the 1970’s, and Harvard Business School did the definitive research in the 1980’s. This class deals with the facts of customer retention and “how to” minimize the number of customers that “defect” from your dealership.

The statistical impact of defection on profitability across differing Industry groups is exposed. It is shocking. In the Industrial Distribution business, if you can increase your customer retention 5%, then you can increase your profitability as a Company by 45%. There is no single element of what we do that has the impact on dealership profitability like customer retention. The tools you should use to minimize customer defection are discussed in detail in this impactful class. Everything that we do in the performance of our jobs is at risk if our responsiveness and convenience are not to the customers’ liking. Don’t miss out on this powerful program.

HCC: Selling Customer Retention WDC (ENG)

All of the training and tooling in service, and the inventories and systems in parts, and all the good work by professional salesmen will be wasted if you cannot keep your customer for life. The Japanese taught us that in the 1970’s, and Harvard Business School did the definitive research in the 1980’s. This class deals with the facts of customer retention and “how to” minimize the number of customers that “defect” from your dealership.

The statistical impact of defection on profitability across differing Industry groups is exposed. It is shocking. In the Industrial Distribution business, if you can increase your customer retention 5%, then you can increase your profitability as a Company by 45%. There is no single element of what we do that has the impact on dealership profitability like customer retention. The tools you should use to minimize customer defection are discussed in detail in this impactful class. Everything that we do in the performance of our jobs is at risk if our responsiveness and convenience are not to the customers’ liking. Don’t miss out on this powerful program.