Grow Big in Business

Grow Big

With

High Value Customers

Every business wants to grow;
and Grow big.

Growth can be achieved by   increasing any one of the following:

1.  Number of customers
2.  Number of products/services
3.  The average sale ticket size.
4.  Repeat Sale.
5.  The number of customers who buy huge volumes regularly.

Not every business can do all the  above. It depends on the type of business and kind of customers they handle which will decide the methods that they can employ..

Many businesses that have grown very fast in the past have done so with increased number of customers who buy huge volumes repeatedly.

It's imperative for a growth hungry business to build customers who can increase both volumes and profitability. 
These customers who help to increase both volume and profitability can be classified as high value customers.
 
Now that we have the awareness of the importance of high value customers, we also need to know how to acquire them.

The first step to acquiring such customers is to know who they are(profiling them) and where to find them....

The following points may qualify High Value Customers(HVC).

1. HVCs are professionals and respect other professionals
2. HVCs offer complete freedom  once an assignment is given to a professional/ vendor
3. They are concerned only about the results and price is not the only deciding factor for engaging professionals/ vendors.
4. HVCs also prefer to build relationships and work together for long periods of time.
5. Working with HVCs offer credence to the vendors, since mist times, they are popular.
6. Most times HVCs offer enough challenges, and provide opportunities to research, learn and implement the same.

You can't wait to have them as your customers, right?

Question is, how to get them?

HVCs are most sought after by all vendors.
What has to be remembered is that they are also on the lookout for reliable and dependable vendors, as their growth can accommodate more new vendors.

There is a difference between acquiring an ordinary customer and a HVC.

It's true that it takes a little longer to earn high value customers.

It also calls for a little more effort, resources and planning.

But the benefits of earning high value customers are felt both during short and long terms and influences both top and bottom- lines positively.

What's important is the willingness to prepare in qualifying and do what it takes to offer the value proposition expected by the high value customers.

So, what are we waiting for?
Let's start shortlisting, approaching, and acquiring High Value Customers.

Muralidharan Margabandhu