Lesson 2.3 6/9/2018 LESSON 2.3 RESPOND EFFECTIVELY Explain how companies use data about customer needs and wants to increase sales and satisfaction Compare product features and benefits CUSTOMER SERVICE

Uses of Customer Data Influence ad campaigns Influence selection 2.3 Uses of Customer Data Influence ad campaigns Influence selection Influence services offered Drive new product development Drive efforts to win new customers

2.3 Case Studies Black and Decker Coinstar, Inc.

The Employee’s Role Gather information Relay feedback 2.3 The Employee’s Role Gather information Relay feedback Customer relationship management software

2.3 Misusing Technology Misuse of technology can jeopardize customer satisfaction. Price research Dynamic pricing

CRM and Customer Retention 2.3 CRM and Customer Retention CRM spending Relationship between CRM spending and customer satisfaction

Sell Benefits, Not Features 2.3 Sell Benefits, Not Features Highlight the benefits instead of features Buyers want to know How the item will solve their problem How the item will improve their life

Compare Features and Benefits 2.3 Compare Features and Benefits Features are characteristics of a product or service. Benefits are advantages a customer gains from using a product or service.

Examples of Features and Benefits 2.3 Examples of Features and Benefits BENEFITS Saves time Saves money Eliminate a concern Reduces work Provides safety FEATURES Color Size Material Weight Speed Power

Highlight Benefits Stress benefits to your customers. 2.3 Highlight Benefits Stress benefits to your customers. Discuss the benefits that are most important to your customers. Solve their problem. Make them feel good. Sell the solution your customers want or need.

Show That You’re an Expert 2.3 Show That You’re an Expert Provide answers. Offer accurate information. Stay informed.