How The “New Normal” May Change The Way You Do Business With Your Customers

Presented by:Jonathan L. Fales

PrincipalMay 6 ,2010

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Your Customers• Your business is changing…and so are your

customers: Who are your customers in the New Normal? Are they the

same ones you had before? What are their needs? Are they different in the New Normal

than they were previously? What value proposition do you bring to your customers

today? Has it changed? Do your employees understand how it has changed? Do your customers truly perceive your value proposition

today?

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Four Indications That You May Be Losing The Plot

1. You find yourself needing to justify the value you add (and so do your competitors)

2. You continue linking in the same way to the same actors, while the sector is being redefined through new providers or all-in-one propositions

3. You believe that your customers still value the same attributes

4. Value is being created by adjoining parts of the process

Source: “Strategy Tools for a Shifting Landscape”, Harvard Business Review, January-February 2010

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Your Customers

What are your customers’ biggest challenges today, and what role can you play to help them?

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Customers• Who are your customers?

Banks Lessee Vendor/distributor Bank parent (for some)

Captives Lessee Channel Parent

Independents Lessees Dealer/distributor Vendors

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Customers• Customer needs – examples:

Total solution financing Full-service banking Certainty of a funding partner New services – for example, commodities trading Develop multiple funding sources Transition of financing from commodity to value-add

service

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Customers• Value Proposition Change

Analysis of customer set, services, profitability Requirement for adjacent space products Requirement for uncollateralized lending Change in customer acquisition process – solutions, not

products – requires different offerings More demand for risk mitigation products (beginning to see

in non-tech)

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Customers• How do you make customers aware of your value

proposition? Acquire skills to call on C-level executives Sales awareness Conscious effort to emphasize strengths more than

previously More focus, reference selling in chosen verticals Focus on retaining customers Focus on longetivity of customer/personal relationships

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