You will know not all customers are created equal and have no doubt heard of the 80-20 Rule; 80% of your sales will come from 20% of your clients.
Of course it is never an exact 80 – 20 relationship, but the principle is very true; a few high-value customers will provide the large part of your sales, and profits.
That’s easy to say, but how do you find, and keep, high value clients who can make such a difference to your sales, and cash flow.
Do you just stumble over them, accidently, or are there things you can do to make life a little more certain?
The answer to that question is YES, and that’s why I interviewed Rashid Kotwal from Revealed Resources.
For those of you who don’t know Rashid, he works with Business Owners and Managing Directors in industries ranging from Professional Services Firms, to Construction and Manufacturing, who want to both rapidly and sustainably grow their business revenue and profit. He also works with sales managers and teams in both the B2B and B2C area to shorten sales cycles and improve conversion rates.”
His speciality is creating strategies to attract, convert and retain high value clients; that top 4% which give you 64% for your business.
Getting High Value clients is about opening doors, deepening relationships, and closing the business. To do so, Rashid creates marketing systems which attract and engage your ideal prospect, moving them down the sales funnel until they’re ready to buy.
Rashid answered 3 questions on “3 things you must do to get new high value clients”.
1. What are some quick mechanisms businesses can use to open doors?
2. Why businesses need a referral kit (read lead magnet), and
3. How to use constant communication to move people down the sales funnel until they’re ready to buy.
In this video, Rashid answers the first of these. Look for answers for the next two in next weeks blog.
There is a mine of more information or resources on Rashid’s website, https://revealedresources.com/
People don’t like to be sold, but they like to buy. If they are serious, buyers are likely to go online and do some research before they go to the market.
When a buyer does find a possible product or service, they need to find if it, and the supplier (you), suits them.
You need to have something to start a “conversation” with the buyer and help sell you as an expert. That “something” is called a “Lead Magnet”.
You also need to be able to explain what you do in layman terms, to make the prospect comfortable.
The content (articles, white papers, case studies etc.) you produce should set you up as an authority figure in your field. The more quality content you produce, the more people will trust you, and come to you.
If you are in the B2B field, LinkedIn is a useful way to open the door to the type of prospect you are interested in. Search for such people and ask to be connected. Don’t make the mistake of commencing the interaction with sending them ME-ME material. Constant communication is important, so send them useful material that you source.
Educate and provide value before you start to move the prospect down the sales funnel.
Then lead the conversation into promoting what you provide. For that, you will need to introduce a Call to Action in your communication. You do have to sell.
© Copyright 2017 Adam Gordon, The Profits Leak Detective
Some profit losses are pretty obvious - so you fix them.
BUT, what if you don't know profits are leaking, cash out the door?
Possible leaks could be anywhere.
Are there some clues or symptoms that are tell-tales?