Question

Topic: Strategy

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

Posted by Anonymous on 3/8/2004 at 9:45 AM ET 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!
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RESPONSES

  • Posted by Blaine Wilkerson on 3/8/2004 at 9:56 AM 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):

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

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

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

    https://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 Chris Blackman on 3/8/2004 at 9:11 PM 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
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