Target Market 5 of 5:
Clients That Just Don’t Fit!
Rev Up Your Business! This is number 5 of 5 in our series about your Target Market.
So we’ve gotten really good and clear on who our best Target Market is, we know what they love about us, we know what we love about them, we know that they’re profitable for us, and we know how to go to market to communicate and attract more of those great clients to us. (click here to watch these videos)
What do we do with the clients we already have – or customers, I use that term interchangeably – the ones you look after but they’re not your best fit? I didn’t say there’s anything wrong with them, they’re not bad or wrong…
They’re just not your best fit.
They might not value you as much as your best clients do…
they may not be as profitable. They might not pay as quickly. Generally they’re C or D clients that you’ve got for one reason or another, but they’re not your ideal, and they might end up taking up a lot of your time.
How do make sure that we can focus on our number 1 customers
and not on these guys?
I’ve got a couple of strategies:
1. Make sure that you’re prioritizing your best customers first. Now your C and D clients might be more of the squeaky wheel – that’s ok – make sure that you’re not giving them the attention that they’re asking for; make sure that you’re giving your best clients the attention that they deserve.Click to Tweet! Because they’re the ones that are rewarding you and helping your business stay strong and have longevity.
2. You could also raise your prices a little bit. That might price you out of their market, but it’s not going to change the fact your great clients value you and will pay that little bit of an increase.
3. The other thing is, have a structured referral program in place. This is refer your worst customers to your biggest competitors, or your toughest competitor. It’s not that you’re trying to sick these clients on them that aren’t a good fit, it’s all about that they’re not a good fit for you. They might be fantastic fit for somebody else. Click to Tweet! If you’re not able or willing to service them, because they’re not your best clients, somebody else might. They might just love to interact with these folks. You’d be doing them a favour by moving them on to somebody else who’s a better fit for them, so you can free up your time to take great care of the existing clients that you already love.
So that’s it! Get rid of the ones that aren’t a good fit for you. Free up your time to take care of the clients that you love. Click to Tweet! and that they love you, and that are helping to build your business.
Looking forward to seeing you next time! We’re going to have a few more great tips on developing your marketing plan, and we’ll talk to you soon.
Have a profitable day!