Customer mix?
Today, I was working with a CPG firm and had never done the exercise.
It was eye opening. They were spending the most amount of time with their one off clients – clients that order once every 3-5 years.
And as a result, they were not spending their time landing more of their ideal clients. Clients that offered them consistent orders and consistent revenue.
Are you focused on the top 2-5% of your clients. And finding more of them? Or are you stuck working for and with those that show up in your inbox?
Stop chasing rainbows.
The gold goes to those who know who their best customers are, work hard to identify more that look like them, and spend their time growing the core.
The more I meet with small businesses, the more I’m convinced that every business could benefit from this simple exercise:
1. Who are your top 25% of customers?
2. What problem do you solve for them? What’s the value of solving that problem?
3. Make a list of 30 more that look like those top customers and the key decision maker.
4. Find a way to get in front of them to honestly find out why you wouldn’t be a great fit.
Two tips for those first approaches:
*Use curiosity as an opener if you have to go direct.
*Use social proof and someone they trust if you have never met them.
The best relationships are where 1+1=3+
