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inc.com. (n.d.). Retrieved 5 20, 2015, from inc.com.
spark. (n.d.). Retrieved 05 21, 2015, from www.spark.co.nz.
Table of contents
- Executive summary
Body of work
- understand target audience
- Understand Your Target Audience
- Generating Sales Leads
- Sell More to Existing Customers
All around us, the pace of progress has accelerated thus has the method for individuals decide to live and associate with each other. Element change is currently the same old thing. Telecom desire is to be a becoming New Zealand organization, winning all the customers and making them stick with us permanently. To do that, telecom need to change at speed of life. That is the reason we are re molding our business to concentrate on what our customer need. The worldwide and nearby working environment attract new customers. As of late, we've seen exceptional development in the interest for, formation of, and availability to, data. This is changing shopper conduct and upsetting business models at fast rate. Competitors in the business sector keeps on expanding with three essential administrators, Telecom, Vodafone and 2degrees extra MVNOs offering administrations over existing portable systems.
Telecom Corporation of New Zealand Limited was established on 24 February 1987 as a company with limited liability. It is now incorporated under the Companies Act 1993 and is domiciled in New Zealand. Telecom is the largest provider of telecommunications and IT services in New Zealand by revenue, customers and assets, offering a comprehensive range of products and services to consumer and business customers.
Significant milestones include:
• In 1999 Telecom acquired AAPT in Australia to entered Australian market
• In 2004 Telecom acquired IT service companies Gen-i and Computer land to extend its IT services capabilities. Together, Gen-i and Computer land were jointly integrated into Telecom in late 2005 and now comprise a business division offering information, communication and technology (ICT) services under the Gen-i brand in both New Zealand and Australia;
• In 2007 Telecom sold its directories business, Yellow Pages Group and bought PowerTel, an Australian fixed network infrastructure provider focused on the business and wholesale markets,
• In 2008 Telecom implemented the operational separation of its business units, in accordance with undertakings finalized following the 2006 amendments to the Telecommunications
• In May 2011 Chorus was selected by Crown Fibre Holdings(CFH) as the cornerstone partner in the Government’s ultra-fast broadband (UFB) initiative;
• On 1 December 2011 Chorus and some parts of Telecom Wholesale were demerged from telecom.
The main purpose of the report is to provide the information to the management about
- How can we attract new customers and increase our sales.
- How to achieve customer satisfaction.
I have researched and contacting with many people to know their experiences and then making this report.
3. BODY OF WORK
The following pages will inform you how to conduct market research to understand our target audience and their needs, how to determine which lead generation techniques are best to wide our sales horizons, and how to increase sales by following several strategies to sell additional products and/or services to existing customers.
3.1 How to Find New Customers and Increase Sales: Understand Your Target Audience Before we can discover new clients and build deals, we have to comprehend who our current customers are, what quality recommendation we offer to clients, and what our competitor are present offering in the business sector and where there are gaps for another new entrants. As it were, we have to do some surveying - whether that implies contracting an outside firm to do the legwork or attempting to do it our self. There's a basic separate between our inspiration to expand deals and our client's inspiration to take care of their issues.
3.2 How to Find New Customers and Increase Sales: Find Out Who Your Current Customers Are
To make an an arrangement to reach new customers , we have to better comprehend whom we are as of now offering to. "On the off chance that we are attempting to extend deals, we need to discover who our current clients are. What are their demographics? What do they resemble? "That implies doing statistical surveying."
We should use surveying tools. It should be possible rapidly and economically by sending studies to your current clients utilizing one of the numerous online study instruments, such as SurveyMonkey or Zoomerang. We can also get to know the target audience by looking at existing sources of information- - from the N.Z Census Bureau or other government agencies, from trade associations, or from third-party research firms..
Demographics-- statistical data on a population including income levels, age, etc.
- Psychographics-- the attitudes and tastes of a certain demographic.
- Ethnographic-- examination of particular cultures.
- Buying habits-- how, what and where customers purchase products and services.
- How to Find New Customers and Increase Sales:Generating Sales Leads There are many of age-old staple technique and more current instruments you can use to discover new customers and expand deals. Daily newspaper readers may not be moved by Internet-based deals systems. We can use social networking sites to reach customers Here is a rundown on the techniques available:
- Cold calling.This is telemarketing without call centre . we can search for the potential customers using newspapers and we can teach sales persons how to talk with the customers. Because many customers don’t want to talk with sales paerson
- Social networking . it is 21st cenuary and and way of people living has changed we can use social networking sites to attract customers like facebook ,linkdin and twitter
- Develop champions of your products.We should ask our current customers who are happy with our product because word of mouth is the best way of advertising.
- Leverage your website.Good website is the best way to add new potential customers because in this modern world people use internet more. Everyone surf through the website first before using the product.
- Advertising.Typically businesses are encouraged to spend 3 to 5 percent of their revenue on advertising, but a small business needs to make sure that advertising is effective,
- How to Find New Customers and Increase Sales:Sell More to Existing Customers
Many business man believes that advertising is the only way to attract customers , but a number of experts say that this strategy leaves out an obvious potential source of new sales It's much simpler to get a current client to purchase from you than to persuade another client to take the dive. " Here's how to increase sales with your existing customer base:
- Bundle products.You can bundle some stuff together make them a combo which will make existing customer to try some of your other offerings.
- Try the "up sell."We should encourage our sales staff to go to the exiting customers and try sell them more. A common example is a warranty.
- Offer inside information.Give the customers information when the product is going to be on sale.it is the best way of word of mouth marketing.
- Think about customer rewards.Customer rewards is the best way to sell more to the existing customers because they are already using the product and they are happy with it
- Give free samples.Whenever we launch new product give free samples to the people to make them our potential customers it is a good way of marketing.(inc.com)
report for year 2013
Total operating revenue for the year 2013 was 4,189 million dollars.
Net earnings were 238 million dollars
Earnings per share 13c
Dividends per share 16c
Total capital expenditure 465 million dollars
Telecom’s ambition is to be growing New Zealand company winning by customers choosing us to connect them at speed of life.
- Over 900,000 retail fixed line residential and SME customers in NEew Zealand
- 1.815 million mobile connections in New Zealand
- Over 850,000 retail fixed and mobile internet and broadband customers in New Zealand.
- Around 70 wholesale customers in New Zealand, comprising mainly retail service providers
- Around 2800 business clients using Gen i
After doing my research I have concluded that our company is doing good in business but still we need to achieve many things. We have strong competitors in the market but we have to be on top in the telecommunication market. Telecommunication market is growing at very fast rate and we have to be in the front.
- If we reshape our sales and delivery teams it will help us to have better understanding of customers needs and wants.
- We should deliver simple effortless experience that is demonstrably and consistently better than our customers.
- If we improve our network more because sill there are some areas where people have problems while connecting.
- If we have more digital self service option it will help us to achieve customer’s stratification.
- If we design and build new platforms, products, offer channels and end to end process capabilities it will help us to attract new customers.
- If we make Gen I and retail services channels more efficient it help us to improve services delivery for business customers.