Line item profit analytics (LIPA) can reveal a rich new vein of customer value-added solutions. WayPoint provides thirteen tools to clarify customer buying statistics for you, and flag unnecessary and hidden buying activity that can cost from 5%–30% or more of a customer’s annual purchase total.
The first step to profitability is to fix these profit leaks.
- You will win more sales while building trust and loyalty
- You will create a bigger barrier for competitors
- You will improve profits by reducing your parallel, unnecessary service costs
- You will evolve a powerful new pitch and the capability of cracking target accounts
My Reps Won’t Like, Won’t Learn, and Won’t Do This Extra Work
Really? What assumptions lurk behind this data-free, generalized belief?
Do you think:
- Reps are independent operators who do whatever they want?
- Most haven’t done anything new with or for their accounts in years, and they won’t start now?
- They will fear their account control and/or compensation will be reduced?
- The process of analyzing and tuning customer buying practices is too daunting?
Relax! You Will Get Them Onboard With One Question
Armed with one powerful question for customers, “Would you like lower prices from us?”, your reps will be onboard with LIPA in no time.
Assuming some customers are hooked by this question or are already pressuring for price deals, the rest of the script can be like this:
- “We have new statistical information on your buying activity that reveals where we can work together to reduce unnecessary hidden costs for both of us.”
- “Let my ‘analyze and process tune-up folks’ do their free assessment and deliver you a report that will make you look like a hero.”
- Then, “at our (subsidized to some degree) expense, we will perform the profit-leak fixes.”
- “With win-win process cost savings, we may have wiggle room for lower prices, too.”
- “When shall my colleagues stop by to take an hour to follow our product and paperwork through your business?”
Why Will Your Reps Want This Selling Option?
Because you will remove their fears and sell them on the upside benefits. And the best part is that you will guarantee the income they’ve already been getting from the account. You could even add an extra bonus on the improvement in profitability for the account.
Start this LIPA-guided process with your best rep and one or a few accounts. You will need to evolve your capabilities for analyzing, creating standard fix solutions, providing a leak-fixing team, and devising customer-centric compensation plans for each target account.
What About My Other Implementation Questions?
First, you should understand the power of LIPA and WayPoint Analytics’s web service. Simply go to www.waypointanalytics.net and request a demo, and let the professionals at WayPoint answer all your questions.