Remember that Pareto Principle (aka "the 80/20 Rule")?
Well here’s another use of this powerful technique
I said before that 80% of your business will come from 20% of your customers and you should concentrate the first wave of marketing effort on this 20%.
Firstly are you contacting them regularly or like a lot of businesses I meet are you being complacent?
Set up a regular contact schedule for this year.
What other products or services could you be selling to them after all the hardest and most expensive part has been done you have acquired them as a customer. Very often this group are not fully aware or have forgotten what else you can do for them.
Ask them why they do business with you and how you could improve the service further, you want them to tell you if there are problems not your competitors. Don’t assume all is well just because they are buying.
Apply these principles today and watch your sales grow, and don’t forget it hasn’t cost you anything to get this new potential business so it’s more profitable when you cost the sale against new potential customer sales for the same product or service.
If you want to hear other ways to grow your business then contact me today!
More later.
Alan Briggs
Dynamic Business Strategies Ltd
Tel: 07917 446068
E-Mail: info@dynamicbusinessstrategies.co.uk
Website: www.dynamicbusinessstrategies.co.uk
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