Each Monday we focus on one activity you can do today or over the next week to build yourself a better business. These short, actionable posts will show you what steps you need to take to take your business to the next level.
In case you’ve missed the previous posts, you can catch up here: 20 Days to Build A Better Business.
This is Day 8: Who are your biggest clients?
Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. W. Edwards Deming
More than likely you know the name of your biggest client by heart. But can you name your top 10 clients? If you have a leadership team can they name the top 10 clients – in order ranked by sales value?
If you study who you’re top 10 clients and customers by sales value and learn all you can about them, who the key people are, their revenues and what they buy from you. If you have a large company. Repeat this exercise with your direct reports and get your direct reports to do the same exercise all the way down the company.
That way all of your business becomes aligned to the needs of your biggest customers and customer service will improve as everyone focuses on them.
Then look at your diary or schedule.
Do you spend proportionately as much time with those top 10 high spending client as they spend sales wise with you?
By paying more attention to your big hitters, discovering their problems and working out how you can help them. You’ll find that they become more reliant on you and spend more money. Which is exactly what you’re want. Right?
Please tell us what you think in the comments section below