Accelerating sales performance for Visa by closing the communications gaps
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Alexander Ashworth is Managing Consultant of Manifest, a leading financial services marketing consultancy working predominantly with commercial banks and corporate payment card providers. Prior to founding Manifest in 1989, Alexander was with a number of leading agencies, latterly with international brand consultants Wolff Olins. He has degrees in English (London University) and Design (London Guildhall University), and is a member of the Chartered Society of Designers.
Abstract This paper discusses a unique approach to the acceleration of sales using two distinct yet related techniques. The first is to close communications gaps between marketing, sales and customers by implementing active two-way communications. The second is to achieve a change in management approach by restoring the counterbalances of intuition, intelligence and initiative to the dead weight of compliancebased management style. Good communication restores the exciting, unpredictable and challenging experience that attracted most people to marketing in the first place. More importantly, feeling how products are being received and sensing the direction in which the market is going, instincts become sharper and emerging opportunities are more readily identified and exploited. The skilled implementation of good two-way communications can bring about just such changes in management style. Manifest provides a detailed case study that demonstrates how its approach accelerated and sustained sales performance of the Visa Business Card and inspired Visa Europe’s management board to adopt a fresh approach to marketing communications. Keywords
Sales growth, performance, marketing, communications, intuition, initiative
INTRODUCTION How do you ensure that a European or global sales force presents products to your customers promptly, precisely and persuasively?
Alexander Ashworth Manifest, 2 Brooks Court, Kirtling Street, London SW8 5BX, UK. Tel: +44 (0)207 801 8900; Fax: +44 (0)207 801 8901; e-mail: [email protected]
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After 15 years of working as a marketing communications consultant in the business to business (B2B) financial services sector, when it comes to improving sales performance my instinct is always to look at the communications gaps between teams; gaps between marketing and sales, as well as gaps between sales and customers. In Manifest’s experience closing those gaps with sustained two-way communication introduces accelerated,
Journal of Financial Services Marketing
Vol. 9, 4 318–328
sustainable performance for a relatively modest outlay. The performance increase springs from a rapid dissemination of product knowledge and business objectives throughout the organisation, enriching key areas, such as product development, marketing and sales, with a clear sense of direction and purpose. It is like turning on a switch. How do you stay alert to the changing needs of customers and emerging opportunities? In implementing our gap-closing solutions, we also create the opportunity for a change in management approach. Our
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