Increase Business Volume
Increase Business Volume
With
High Value Customers
How many of us have wondered as to how
to take the business to the next level?
achieve better bottom line and increase
the top line?
Remember the Pareto principle
,also known as the 80/20 rule, the law of the vital few: 80%
of the effects come from 20% of the causes.
In Business it is a fact that 20% of customers contribute 80% of sales.
In this context, the volumes for any
business is contributed by High Value Customers. Besides offering
volumes high value customers also add value to our business in the
eyes of other customers too. Success begets success.
So how is this awareness going to help us in
real time business scenario?
Attracting more High Value Customers
does not happen accidentally.
It is usually based on our choice, and the
choice is architectured and designed.
Commitment towards this design is
driven by analysing and understanding the HVCs (we will address High Value Customers as HVCs).
Particularly in relation to one's business;
Their special needs, possible solutions to those needs and building a value to the solution in relation to what the competition is offering.
Particularly in relation to one's business;
Their special needs, possible solutions to those needs and building a value to the solution in relation to what the competition is offering.
If you commit to developing this design
and implementing it consistently, there’s no reason that in a year
or less most of your clients will be high-end clients.
Simply put, the transition happens more in the mindset which is required to market and sell products or services to High Value Customers.
Simply put, the transition happens more in the mindset which is required to market and sell products or services to High Value Customers.
There is only a difference
between earning an ordinary customer and a big time or high value
customer.
Difference in terms of time, effort, resources, etc.
It's true that it takes a little longer to earn high value customers.
But the benefits of earning high value customers are felt both during short and long terms by influencing both top and bottom- lines positively.
What's important is the willingness to prepare in qualifying by doing what it takes to offer the value proposition expected by high value customers.
Difference in terms of time, effort, resources, etc.
It's true that it takes a little longer to earn high value customers.
But the benefits of earning high value customers are felt both during short and long terms by influencing both top and bottom- lines positively.
What's important is the willingness to prepare in qualifying by doing what it takes to offer the value proposition expected by high value customers.
Having spoken about acquiring High
Value Customers(HVCs), shall we discuss as to how we can define and
qualify high value customers.
1. High value customers are
professionals and respect other professionals
2. HVCs offer complete freedom once an assignment is given to a professional.
3. They are concerned only about the results and usually pay high enough to achieve the same.
4. HVCs also do not hesitate to renew the contract and prefer to work along for long periods of time. .
5. Working with HVCs offer credence to one's professionalism.
6. Most times HVCs offer enough challenges, and provide opportunities to research, learn and implement the same.
7. Most important, the value of purchase is high and / or more frequent than an ordinary customer.
8. They are established businesses who will add credential to our business.
So, what are we waiting for?
Let's start shortlisting, approaching, and acquiring High Value Customers.
Muralidharan Margabandhu
professionals and respect other professionals
2. HVCs offer complete freedom once an assignment is given to a professional.
3. They are concerned only about the results and usually pay high enough to achieve the same.
4. HVCs also do not hesitate to renew the contract and prefer to work along for long periods of time. .
5. Working with HVCs offer credence to one's professionalism.
6. Most times HVCs offer enough challenges, and provide opportunities to research, learn and implement the same.
7. Most important, the value of purchase is high and / or more frequent than an ordinary customer.
8. They are established businesses who will add credential to our business.
So, what are we waiting for?
Let's start shortlisting, approaching, and acquiring High Value Customers.
Comments
Post a Comment