Business development is relentless and often it can be hard to think of a new approach. Most of your new business will come from existing clients so we need to focus on which ones have the most potential to grow your business, and also be enjoyable to work with.
The first step is to create three categories:-
- Existing clients
- Prospective clients (warm leads not yet converted)
We can then divide the existing clients into a further three areas:-
Really analyse your clients and decide which ones are Gold. You may need to take some time to think about the criteria for being Gold. We often make the mistake of focusing our time on clients who pay a high premium fee, however they demand double the time. Other clients pay a constant fee which gives you guaranteed income and need very little time.
Therefore ask some questions to create the Gold criteria:-
- What is the current fee structure?
- How much time do you spend on the Client account?
- Do you enjoy working with them?
- How much resource is required to service that account?
- How long have they been a Client?
- Have they given you more work?
- Have they recommended you to other Clients?
Make the exercise visual by having your Gold clients on display in your office.
“What you focus on becomes reality”.
Prospective Clients will need to be touched regularly as now to get to a point of sale you will need at least eight touch points if not more. Keep a tracker and make sure it is on display to all the team.
Wish seems a bit far reaching, however again the genius of audacity you just never know. It is a great exercise to focus on who your dream client would be as it helps with the categorisation of the Gold existing clients.
Please do get in touch if you would like nuggets to facilitate a management meeting email@example.com