Is your business maximizing client share?
Jun 1, 2008 12:00 PM, Michael Casey
Let's keep the math simple. If you are running a $5 million printing company with your average client share at 50 percent, you are losing $5 million in revenues to your competition. If you increase share by 20 percent in your current customer base, you will grow $1 million in revenues, take
Just think of your marketing and sales budget dedicated to getting new accounts. Why not focus on expanding with your existing account base? When comparing bottom performers at 40 percent to top performers at 65 percent, there is a 25 percent point shift in client share.
Let's come back to our original example. If a bottom performing $5 million business with 40 percent share focuses on becoming a top performer at 65 percent share, they could grow 25 percent or $1,250,000. Investigate what business you are losing, understand your customers' needs, get creative and leverage your established relationships to win the business.
Michael Casey is president and founder of Survey Advantage (www.surveyadvantage.com). He is an Intl. Franchise Assn. technology board member and recently became a major partner with NAPL, supporting its consulting and research practices. Survey Advantage's mission is to help printers improve their business performance through the delivery of cost-effective, comprehensive customer feedback systems and easy-to-digest reports.
| Top 10% printers | >65% of customer base |
| Average printers | 53% of customer base |
| Bottom 10% | <40% of customer base |
| * Based on 10,000 print buyer opinions | |
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