How much does each new client cost you?
It can cost a fortune to bring in new business: three to four times more to win a customer than to keep one. The amount you are paying OUT, long before they start paying YOU, can be frightening.
Whether it’s £1.50 on Google pay-per-click or £10,000 on glossy brochures, you need to make sure every penny counts.
So every client you have painstakingly attracted needs to be nurtured, loved and pampered, right? Wrong! Take a good look at your books and you’ll find a roster of unprofitable, C-List clients who are more trouble than they’re worth.
(The clients who always have a niggle, who take up too much of your time … who always have to be chased for payment. You know who they are.)
Your focused approach to winning business
You need a focused approach to winning business and identifying your best clients.
Here’s how to do it:
Challenge 1: Too many unprofitable clients
Answer: Increase your charges and cull unprofitable clients who don’t accept the increase. Just make sure you prove the added-value you give
Challenge 2: Service and support not aligned to sales
Answer: Customer retention is king. After sales service and support must be client focused
Challenge 3: Scattergun approach to prospecting
Answer: Focus on clients you want and those most likely to want you
Challenge 4: Value Proposition not established
Answer: Establish the value you can deliver to your prospect or target
Challenge 5: Poor sales capability
Answer: Ensure your sales-facing people understand the value concept and can create and communicate this to clients and prospects
Challenge 6: Marketing not linked to sales
Answer: Marketing must be aligned to your sales goals and efforts
What are the benefits of this technique?
- Better service to existing clients and ability to gain new profitable clients without increasing costs
- Scale your business up on retaining clients plus adding new ones
- Increases likelihood of sale. Minimises marketing costs. Cuts wasted effort
- Sales-facing people will be seen as business partners not just suppliers
Establishing value in the eyes of your prospect or client significantly helps the sales process and increases or maintains margins. It also differentiates you as a business.
“Golden nuggets” like this can shift your whole business mindset. If it’s time you gave your organisation the best possible chance of maximising value, give us a call today at +44 (0) 203 368 6606 or drop us an email at firstname.lastname@example.org.