Mark Moncher

Click here to edit subtitle

Blog

view:  full / summary

Mark Moncher - The Customer Experience Process

Posted by [email protected] on May 19, 2016 at 1:15 AM Comments comments (39)

Companies seeking to become more customer-centric should define the customer experience as a formal end-to-end process in their organization.

Business leaders that subscribe to the process-centric approach to business improvement understand the importance of having well-defined end-to-end processes. Typical end-to-end processes that are well-defined and optimized in businesses today include:

• Plan to Profits (Budgeting & Finance)

• Order to Cash (Operations/Order Fulfillment)

• Procure to Pay (Procurement)

• Recruit to Retain (Human Resources)

• Idea to Market (New Product Innovation)

• Forecast to Delivery (Manufacturing & Distribution)

• Market to Sale (Sales & Marketing)

For those organizations that have formally adopted a process-centric approach to business, the process is often formally defined, measured, monitored, and continually optimized. This level of discipline is critical to deliver a process that is high performing, predictable, efficient, effective, and error-free.

Mark Moncher a senior sales executive suggests that in order to become more customer-centric, businesses should add the customer experience end-to-end process to their portfolio of strategically important processes.

 

The customer experience is a process. Like any process, the customer experience process can work perfectly (or go horribly wrong), may contain numerous scenarios, and it can be analyzed, re-engineered and optimized.

 

The customer experience process does not begin and end at the store, sales representatives, web site or call-center. It extends from the moment the customer becomes aware of a company and may last until they die, move, or leave for a competitor.

 

In short, the customer experience process is broad, deep, iterative, and (hopefully) long running. The customer experience process is comprised of three distinct phases:

1. Customer Attraction (before): Customer attraction represents all of the touchpoints and interactions encountered by your customer during initial sales and marketing activities.

2. Customer Interaction (during): Customer interaction represents all of the touchpoints and interactions encountered by your customer during payment, service, and delivery activities.

3. Customer Cultivation (after): Customer cultivation represents all of the touchpoints and interactions encountered by your customer after a purchase or transaction that includes loyalty, reward, and ongoing communications management.

 

Great customer experiences don't happen by accident: They require a keen attention to detail, a focus on every touch point, and an orchestration of all customer encounters regardless of how each customer may navigate the company. Mastering the customer experience must begin with mastering the end-to-end customer experience process.

 

At any time that a customer is involved in the process, the ultimate goal is to deliver a customer experience process that sells more, increases buying frequency, and broadens the relationship.

A critical first step to improve any customer experience should be to map the entire customer experience end-to-end process. By doing so, companies can develop a deeper appreciation for how the business interacts with their customers.

To achieve the focus and discipline that the customer experience process deserves, businesses should add a new end-to-end process to its portfolio of strategic processes.

 

By defining the customer experience as a strategic end-to-end process, the customer experience process can be studied, measured, monitored, refined, re-engineered, optimized, and improved. The process will become much more disciplined and receive the attention it deserves in the organization.

 

Mark Moncher is a senior sales and business development executive with a strong track record of success both from an individual as well as team focus and has Lead national and regional sales teams across US for Merchant Acquisition and Optimization.

 

Loyalty Marketing - Mark Moncher

Posted by [email protected] on May 7, 2016 at 8:20 AM Comments comments (0)

Maintaining customer loyalty is a hard task for marketers during these days. Because of recession people are more price sensitive. They expect better deals from their brand, at the same time if they tend to find best deals in competitors they adopt for that. Now it's time for marketers to question about their loyalty strategies. Now whenever they go, whatever they purchase, they can see loyalty points. Increased competition in the loyalty marketing is also threatening the firms. Loyalty marketers now understand how to use the data driven insights to change the customer behavior profitable. Since the loyalty market is messed up with high competition now it is important for firms to combine the loyalty and their emotional bond. Combining the CSR, Green activities with the loyalty marketing is going to be the sustainable strategy in the future.

 

Socially responsible initiatives are going to be a better brand tool in future, but it is difficult for companies to drive sales with just cause related marketing. In my company we do have a loyalty program, but sometimes high redemption leads us for loss also. Many brands truly desire to do business in most ethical way and the customers also expect the same. So that's where the loyalty marketing comes to play a major role. Now loyalty marketers have the full data about their customers. Now they are turning these insights to more ethical purchasing behavior.

Now the organization and consumer have reached the level maximum about the corporate social responsible concept. According to the Edelmean good purpose study, 63% of the customers think that marketers spend too much on advertising and other marketing communication, and they said that they should set more for "good cause". Still global customers think that the companies set money for social purpose as well. Particularly increasing awareness of climate change is closely positioned in the customer's mindset. Not in Sri Lanka but in other countries buying green products remains a priority and customers are willing to pay additional 5% for green products.

 

Though environmental issues are getting concern among the customers, other social issues are also worrying them. That's why cause marketing getting prominent in organizational strategies.

So what the companies should do now? Running a separate loyalty program and a cause marketing might danger them. But combining the emotional bond of the customers with loyalty program and cause program is going to be the suitable strategy. Cause marketing is largely about pushing the brand and additional bond and empathy it. Having just a loyalty program may not work hereafter or might struggle in the middle.

 

So how they can do this?

Based on the loyalty theorem following are possible

 

1 - Walk in walk

Mark Moncher stats that the very essential part of cause marketing program, are planning, design and following it up. But the validity is important always. The company should ask the questions like does this cause marketing program ring true as part of the company's value? Will consumers see it as sake or fake? The company should be careful when they do this. It can backfire the firm if it is not done properly.

An important question that arises here is "How to build the validity of the campaign". Not only the top level management but the organization must build cause related value within it. Consumer expect that brands those incorporate cause related marketing with loyalty effort will walk the walk.

Then the organization should make sure the cause is closely related to the brand values and resonated with the stakeholders (both customers and stakeholders)

If there is no actual relationship with the cause and the brand value then it will become a doubtful in the consumer's mindset..

 

2. Focus on Behavior Change

When an organization thinks about supporting a cause they should also consider the behavior of customers. Instead of buying the products customers may think of supporting the cause directly. Here it is important to connect the loyalty bond and the cause. So the customers will feel good that they are supporting for a cause while purchasing.

Another way to change the behavior is to focus more on millennial consumers such as teens with less income and someone who have limited resources to take part directly to the favorite cause. According to the research insights I went through, 88% of Millennial would switch brands to help cause.

 

3. Don't forget the ROI

Organizations need to market it properly with a goal of boosting a loyal behavior from the customers or getting return on investment.

Cause marketing without measurable ROI is simply like desert strategy.

 

Mark Moncher has served as Vice President- B2B Sales at Global Merchant Services and Led B2B merchant acquisition for Establishment Services across US and Canada. Mr. Moncher possesses extraordinary skills of Loyalty Marketing and business development executive with a strong track record of success both from an individual as well as team focus.

For more click here

 

Motivating Your Sales Team to Achieve More: Mark Moncher

Posted by [email protected] on April 24, 2016 at 2:25 AM Comments comments (0)

If you are a sales manager you know it is difficult to motivate your sales team, but you also know that your ability as a coach is based on their ability to succeed in sales. Mark Moncher is a Senior Sales Executive associated with American Express and he believes that the mark of a good sales manager is one who is making less in salary than their least performing sales person.

 

But how you develop a motivational plan to help your sales team achieve more? One way to do this is to redefine the sales goals in terms stated more readily understand in their personal lives.

Having a well-motivated sales team can be the cornerstone of a successful direct sales career. Building a strong sales team has the potential for great financial benefits for you as an up line. So now that you are on your way to building a good sized sales team how do you keep them motivated so that they will have fun with what they are doing and be able to build a successful direct selling business for themselves?

 

Here are some useful tips by Mark Moncher in this regard:

Team Newsletter

One thing that you can do to keep up the motivation of your team is start a team newsletter. This can be done through the mail or by email whichever you think would work better for your group. You can include words of encouragement to get your team members excited about their business, offer tips like theme party ideas and maybe even let your team send in ideas that have worked for them. Keep them interested with a community feeling. They should look forward to reading the team newsletter.

 

Sending Cards

Another thing you can do to let your team members know that they are special to you is start sending cards on special occasions. Remembering things like wedding anniversaries, birthdays or even a consultant that has had an exceptional sales month will let your team members know that they are special to you and not simply a number that you recruited for your own personal gain. You will be amazed what a little validation can do.

 

Training and Incentives

Offer team training and incentives to your down line for motivation. Whether your new recruits are direct sales pros or delving into their first experience, training is always a good thing. You could hold conference calls; monthly or even weekly team meetings. Offer incentives for your team to help them reach their sales goals. Offer things like sales aides (order forms, catalogs, etc.) or products from your company if they meet goals like booking so many parties in a month, making so many sales phone calls, or meeting a certain amount of sales.

 

Support

The best thing that you can do is make yourself available to your team and let them know that they matter to you. Nothing is more motivating than knowing you have someone who is behind you and supports you all the way with your business.

 

Keep these tips in mind and you will have a sales team that really loves what they do, which means success for everyone.

Mark Moncher has a strong passion that drives the dedication and focus is second to none and his consistently high leadership scores year after year drive a winning attitude across the organization.

Find Mr. Moncher on Facebook

Facts about Credit Cards Debt by Mark Moncher

Posted by [email protected] on April 16, 2016 at 3:20 AM Comments comments (0)


It is more than likely that you are familiar with the negative aspects of credit cards debt. This type of debt is an example of unsecured consumer debt. Plastic cards are the most common means by which people enter into credit cards debt, and the situation can quickly lead to an overall state of bad credit and a need to take out loans for debt.

While these cards can be very convenient, they have been known to encourage both irresponsible spending habits and a decrease in financial discipline. Many argue that credit cards are more trouble than they are worth.

Yet, millions of people around the world still use them. Many then make their situation worse by choosing to take out loans for debt relief when they owe too much and can't make the payments on credit cards.

Mark Moncher says that Credit cards debt occurs when a client of a credit card company buys something via their card. Because the client often thinks of the credit card as a bottomless pit of money, the client does not allow for wise planning and attention to budget that stems from using only cash to make purchases. Things get even worse for the customer when monthly bills aren't paid on time.

Every time a consumer is late with a credit payment, the credit company reaps huge rewards. Fees ranging from fifteen to thirty dollars are applied to payments that are late even by one day.

 

In addition, interest rates rise, penalties apply, and the creditor makes millions. The consumer, meanwhile, accrues more debt and falls further behind. Credit companies thrive while the consumer is buried under a mountain of credit card debt. Sometimes the only effective way is to get a credit card consolidation loan.

Almost as damaging to credit card customers is the effect these failures to pay have on credit ratings. Credit agencies are immediately notified when a cardholder has defaulted or missed a payment.

The result is that the consumer's record is marked. Bad credit is an awful thing to have, as people's credit scores suffer and make it very difficult to be approved for a loan to buy a house or car.

 

Finally, if a customer continues to default, other creditors may increase their interest rates for that customer, even if the individual has paid all of the debts to that particular company.

This is known as universal default and only makes the situation worse for someone who is struggling to get out of debt. Bad credit is contagious.

Although the evils of credit cards debt are well known, this type of debt is increasing in nearly all industrialized countries. More depressingly, the average U.S. college graduate starts post-college life with more than $2,000 in credit cards debt.

 

This slippery slope leads to loans for debt relief, which tend to make matters worse. The best way suggested by Mark Moncher to avoid the pitfalls of the little plastic card is to budget appropriately and to focus on one's expenses.

https://www.intelius.com/people/Mark-Moncher/08ajbcav785?hasSentRedir=1&refer=4918" target="_blank" rel="nofollow">Mark Moncher is a senior sales and business development executive with a strong track record of success both from an individual as well as team focus. Mr. Moncher has experience in C level sales and negotiation leading to successful partnerships for both the customer as well as the client.

For more stories by Mr. Moncher https://markmoncher.wordpress.com/

An Overview by Mark Moncher of Product Lifecycle Management System

Posted by [email protected] on April 2, 2016 at 7:00 AM Comments comments (0)

If you know a bit about product lifecycle management or you know nothing at all about it, you are at the right place. As you proceed with the reading of this article, you will understand product management lifecycle in detail. Also, there will be some light put on product management courses.

 

Wikipedia defines product lifecycle management as mentioned below:

"In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products. PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise."

 

The product life cycle can be divided into many stages, characterized by the revenue generated by the product or range of products. The lifecycle of a product depends on the usability of that product. There are some products that have a short life cycle, while some products have a rather long lifecycle. Christmas toys and New Year presents have a short product lifecycle; cars have a very long lifecycle. For most products, the product development stage is the beginning of the lifecycle. Usually, a product lifecycle includes introduction stage, growth stage, maturity stage, and decline stage.

 

Now comes the question whether any business needs PLM or not. Following are the points that can help you in that matter:

1) Is warranty expense a real problem for the business?

2) Does your business find any disconnect between actual customer needs, product enhancements, and marketing requests under development?

3) Are new products taking full advantage of existing parts designs, technology, or other intellectual property?

4) Is there a problem in the communication with manufacturing partners or other partners?

 

If the answer to all these questions is 'Yes', the business can get huge benefits from project lifecycle management. Product lifecycle management system brings product information from marketing and design together and makes it available for production and support.

As the demand of project lifecycle management is increasing, it has opened doors for immense opportunities. Many renowned institutes offer product management courses to provide in-depth knowledge of the subject. Some institutes offer workshops as well. If you make a decision to do an MBA in product management, you will make an excellent career decision. If you are a working professional, you can do eMBA, sitting within the comforts of your home. More details can be obtained from the institutes working in this domain.

 

My name is https://www.edocr.com/v/bkpvme96/markmoncher/facts-about-customer-relationship-management-by-mark-moncher" target="_blank" rel="nofollow">Mark Moncher and I am a sales and business development executive associated with American Express. I have an experience in C level sales and negotiation which leads to successful partnerships for both the customer as well as the client.

Learn more https://medium.com/@MarkMoncher/tips-for-sales-development-by-mark-moncher-d59bba9612d0#.8dexi7ndu" target="_blank" rel="nofollow">click here

 

Mark Moncher - The Customer Experience Process

Posted by [email protected] on Comments comments (0)

Companies seeking to become more customer-centric should define the customer experience as a formal end-to-end process in their organization.

Business leaders that subscribe to the process-centric approach to business improvement understand the importance of having well-defined end-to-end processes. Typical end-to-end processes that are well-defined and optimized in businesses today include:

• Plan to Profits (Budgeting & Finance)

• Order to Cash (Operations/Order Fulfillment)

• Procure to Pay (Procurement)

• Recruit to Retain (Human Resources)

• Idea to Market (New Product Innovation)

• Forecast to Delivery (Manufacturing & Distribution)

• Market to Sale (Sales & Marketing)

For those organizations that have formally adopted a process-centric approach to business, the process is often formally defined, measured, monitored, and continually optimized. This level of discipline is critical to deliver a process that is high performing, predictable, efficient, effective, and error-free.

Mark Moncher a senior sales executive suggests that in order to become more customer-centric, businesses should add the customer experience end-to-end process to their portfolio of strategically important processes.

 

The customer experience is a process. Like any process, the customer experience process can work perfectly (or go horribly wrong), may contain numerous scenarios, and it can be analyzed, re-engineered and optimized.

 

The customer experience process does not begin and end at the store, sales representatives, web site or call-center. It extends from the moment the customer becomes aware of a company and may last until they die, move, or leave for a competitor.

 

In short, the customer experience process is broad, deep, iterative, and (hopefully) long running. The customer experience process is comprised of three distinct phases:

1. Customer Attraction (before): Customer attraction represents all of the touchpoints and interactions encountered by your customer during initial sales and marketing activities.

2. Customer Interaction (during): Customer interaction represents all of the touchpoints and interactions encountered by your customer during payment, service, and delivery activities.

3. Customer Cultivation (after): Customer cultivation represents all of the touchpoints and interactions encountered by your customer after a purchase or transaction that includes loyalty, reward, and ongoing communications management.

 

Great customer experiences don't happen by accident: They require a keen attention to detail, a focus on every touch point, and an orchestration of all customer encounters regardless of how each customer may navigate the company. Mastering the customer experience must begin with mastering the end-to-end customer experience process.

 

At any time that a customer is involved in the process, the ultimate goal is to deliver a customer experience process that sells more, increases buying frequency, and broadens the relationship.

A critical first step to improve any customer experience should be to map the entire customer experience end-to-end process. By doing so, companies can develop a deeper appreciation for how the business interacts with their customers.

To achieve the focus and discipline that the customer experience process deserves, businesses should add a new end-to-end process to its portfolio of strategic processes.

 

By defining the customer experience as a strategic end-to-end process, the customer experience process can be studied, measured, monitored, refined, re-engineered, optimized, and improved. The process will become much more disciplined and receive the attention it deserves in the organization.

 

https://issuu.com/markmoncher" target="_blank" rel="nofollow">Mark Moncher is a senior sales and business development executive with a strong track record of success both from an individual as well as team focus and has Lead national and regional sales teams across US for Merchant Acquisition and Optimization.

Learn more click here

 


Rss_feed