Real-World Education for Modern Marketers

Join Over 613,000 Marketing Professionals

Start here!

Know-How Exchange

Topic: Strategy

Search more Know-How Exchange Q&A from Marketing Experts

This question has been answered, and points have been awarded.

Reorganizing To Be More Client Friendly And Attract New Pot.investors

Posted by Anonymous on 250 Points
Hi, I need a suggestion of how to resolve the following issue:

I need to reorganize a department in a governmental institution (privatization) - the so called tender department where the main point of contact with potential investors lies... because of the bad image of the fund a lot of investors just gave up + ppl working there were totally unfriendly and unprofessional.

Now we have a chance with the new government and I am in charge of the reorganization. Im just trying to think of some ideas how to make it a client friendly organization + to attract investors back and would welcome any ideas of where to start! thanks!

  • Posted by Blaine Wilkerson on Accepted
    Start off with asking yourself what makes your fund so special? Why you? You need to set your fund apart ... You have to find your niche.

    In other words, what does your firm do best? Resestablish contact with previous clients and current potentials announcing the new management with you r new mission of integrity and customer service. Creating a solid brand is the best way to compete in any market, especially in one damaged by previous owners or government!

    Please let me assure you, I KNOW it can be done, but I think you need a detailed plan from a professional marketer. I'm afraid you will not get the proper do-it-yourself "crash-course" here in the forum.

    Regardless of what you decide to do, I recommend you read this article by Michael Fischler, founder and principal consultant of Markitek (markitek.com):

    http://www.marketingprofs.com/2/fischler1.asp

    ...and check out http://brandchannel.com for alot of helpful advice as well.

    Another good tool to find information on marketing, branding and advertising:

    http://searchengineformarketers.com

    Good Luck! Remember...set yourself apart from the rest. Perhaps offer a promotionsuch as a free first time commission waiver, something that has value tied into your business...not free pens, trips, etc. . Find your Niche, Focus on it, target the proper demographic, and give it eveything you got! Word-of-mouth and clientele referrals will help you build your reputation. There is not a quick fix for this situation! Persistance and quality performance will eventually alter the perception of your potential clientele.

    If you require any further assistance, please do not hesitate to send me an email.

    Good Luck!

    - Jett Enterprises
  • Posted by Leaky Funnel on Accepted
    Hrvojka

    Blaine and Tim have given you plenty of food for thought on how / what to change about the way you deal with the market. So let me focus on the internal task you raised in your reply.

    You appear to have a good grip on the need to change. Is this a shared recognition? Perhaps before trying to convince your colleagues about how to or what to change, you need to convince them why.

    A simple thought: run a focus group or similar group forum to explore the needs of investors. Make sure you include some of the disaffected investors who 'gave up'. Either get your colleagues to sit behind the window or get it taped and play them the tape.

    Manage the conversation to ensure you get some great suggestions about what to change, and how they would be more likely to invest if you made this change.

    In short, what I am recommending is to find a way for your investors to do the convincing, rather than you. If you say it, it's an opinion; if they say it, it's a fact.

    Good luck and keep posting questions like this one, Hugh
  • Posted by mbarber on Accepted
    Okay an interesting question - more for management consulting than marketing per se. And here goes -

    I'd be inclined to use the group 'threat' as a means to get their attention, then give them the current option, then get their help redesigning the solution.

    One of the things I would do when in my management consulting life when dealing with an ongoing disruptive and non helpful department, was to gain permission from senior management to sack everyone if a solution could not be found. Usually I was given permission but with a request that I avoid it wherever possible.

    Which is just what I wanted.

    So I'd walk into a group meeting and say - "okay, I've just asked senior management that everyone be sacked if we can't get this joint working, and for the company to pay you out and then start again with fresh bodies who understand what needs to be done via a company that specialises in outsourcing this function."

    That usually got their attention pretty quick.

    Then I'd say 'But they've said they'd rather avoid that if possible and have asked that I try for 3 weeks before they do that but if we can't do that, they'd accept my recommendation'.

    It also meant they had an outside enemy (me & a resourcing company) and that their company was giving them a chance to work with me to save the department and therein their jobs.

    I then conduct a completely anonymous survey asking them for what the problems are and suggestions on how to fix it. Almost without fail, EVERY time I have run this process, the feedback from the anonymous survey points to just one or two people who have been hurting the business unit and dragging down morale and performance.

    It is amazing what happens when people have had a chance to vent their frustrations. The air clears, the energy levels are up (and sometimes charged) and people want to not only save their jobs but to make the place function.

    Having identified the crux of the problem, I redesign workflows taking away any power source or control these people may have had by creating processes that by pass them. Then no matter how hard they try, a process exists to ensure work occurs regardless.

    Most often than not, these people resign once their power/influence has been diminished, some adapt and a minor number hang around to be disruptive - they always get sacked.

    Not sure if you are in a position to try this but you might be able to find some way to create a crisis that you can use to pull them together. The risk of course is that you pull them apart :-)
  • Posted by ASVP/ChrisB on Accepted
    Sounds like Hugh's key internal issues are going to be tough to address.

    Maybe there are other ways to provide incentives to employees to perform better with customers. Is there anything you can do, for example, by recognising high achievers with some kind of performance award, a medal or cup, or even dinner out with the partners?

    Providing incentives does not always have to equate to a higher salary cheque. And in economies where the labour market is so strictly regulated, you have to look for new and creative alternatives.

    Give it some thought. Let us know what you come up with.

    Good Luck

Post a Comment

Most Popular

MarketingProfs uses single
sign-on with Facebook, Twitter, Google and others to make subscribing and signing in easier for you. That's it, and nothing more! Rest assured that MarketingProfs: Your data is secure with MarketingProfs SocialSafe!