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Do You Have A Written Customer Target --- for Additional Business….As…. All Dollars Gained --- Are Not Equal

September 7, 2017

By Sid Chadwick, Chadwick Consulting, Inc.

“I never knew all those databases for prospecting were there…..waiting for me….all this time…..I never had a clue………!” Extra-Bright, Experienced Industry 
                                                                                                                                                                                                   Attendee, Research Skills Workshop

INTRODUCTION:

One of the thrills of a 3-Day Research Skills Workshop is watching attendees realize that their “world of Business Development Opportunities” --- is literally --- 100’s of times larger….than they ever imagined.

That awareness quickly raised the Next Question --- on our Agenda:

Customer Focus

“Do you have written profiles of target customers --- and customer’s work --- that your company prefers --- that your company tends to make better margins when producing --- and --- that your company wants you to avoid…?”

My anecdotal observation is that --- “Not one company in 20 has identified… in writing….who they should be pursuing, and who they should not pursue.”

Yet, within their organization, that information is waiting --- for someone to go review, analyze, and identify --- “Which profile of customers and work do we excel serving, and which profile of customers and work --- do we need to avoid?”

Potential issues that influence the value of a target customer market for improving our future prosperity --- include (but are not limited to):

  • Size  --- complexity --- (and often – distance) of your target customer…and… their decision-making management.
  • Profitability of the customer, and the customer’s business.
  • Ambitions of the customer’s senior management.
  • “Repetitive and frequency profile” --- of customer’s needs.
  • Potential for “additional customers”…and especially “Referrals” --- of this “customer market profile”.
  • Is the target customer’s market --- growing, or contracting…?
  • How do we “stack-up” against our competition, for serving that target market…?

SUMMARY:

One of the most critical decisions occurring in every company is, Who do our Sales Reps --- Self-Promotions --- and Marketing Strategy (….if we have a marketing strategy…) --- target --- and --- pursue developing?

Costs start being incurred, and our future opportunities profoundly influenced --- as that decision is made --- too often --- in the privacy of each Sales Rep.

As our industry continues to consolidate, the organizations that change --- and improve --- how they manage their new business development processes --- can be counted on to be survivors….and winners….!

“The spirit, the will to win, and the will to excel…. are the things that endure. These qualities are so much more important than the events that occur.”…Vince Lombardi

 

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