Question

Tom works for a large payroll outsourcing firm. One of his key customer’s contracts is set to expire in one month. Competition has heated up in this industry and Tom’s customer asked him to make a presentation to the top management team about his firm’s services. In his presentation, he thanked the customers for their loyalty, talked about industry trends, highlighted how his firm has been successfully serving firms for decades (unlike the new players in the market), and then asked them to renew their business again by showing them pricing options. Tom didn’t get the contract renewed and wonders if his presentation had anything to do with it. Which of the following actions should Tom do in order to IMPROVE his future presentations?
Select: 1
Spend more time giving examples of how his firm has helped the customer.
Spend more time asking about the customer’s specific needs.
Spend more time thanking the customer for his/her loyalty.
Spend less time talking about the competition’s low-quality services.

Answer 1

Answer: Tom should take the below mentioned action  in order to IMPROVE his future presentations.

Action: Spend more time asking about the customer’s specific needs.

Explaination: It is quite possible that the current presentation did not address the specific need that customer might be expecting, hence the firm lost the contract. Tom should try to address the specific need of customers in his future presentations. It is better to communicate with the customers about his firm’s capabilities and how it can serve the needs of the customers. It is good that it has included everything in their presentation but it must concentrate much on explaining to the customers his firm’s unique qualities which may be difficult for its competitors in order to attract the customer.

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