Nathan Yerian
Every business has certain customer profiles that just "fit". Knowing these customer profiles and singling them out will save you time, allow you to focus on your most opportune prospects, and increase your profit.
Focus On Customers That "Fit".
Many companies think that breathing is the only criteria that a prospect must meet in order to be considered ideal for their product/service. At the end of the day, they wonder how they got caught up in sales or projects that never completely solved the customer's issues, and/or contracts that didn't really accomplish what every business must...profit.
Many factors can make a potential customer the wrong fit for your company. Being able to identify these factors early will save both you and your potential customer time and resources, allowing both of you to focus on the right "fit".
What Do You Do When a Customer Doesn't "Fit"?
Recently we were approached by a very large international company to work on some branding components. We were one of three companies they selected to meet with and that decision was based solely on our website. As a small branding agency, we were really quite flattered by the criteria by which we were selected.
In our initial meeting, we learned exactly what they were looking for. Although they are one of the largest international companies in the world, the deliverable components they were requesting and the underlying strategy that would bind them was quite simple and well within our capability.
Sounds good right? Not so fast. During the meeting, there was something in the air; something that was left unsaid. I did not need them to say it.
The team that we met with, being from a large international corporation was a little thrown off by the small environment they found themselves in. They were expecting a much larger agency from our web presence.
This disconnect raised doubt, and regardless of the big project experience we demonstrated to them, the doubt remained. Doubt, on either end of a business deal is a recipe for failure.
As a company, we have elected not to pursue this opportunity any further. Taking it a step further, we actually recommended another larger agency (that was not on their list).
This company does not fit our customer profile because they demonstrated a lack of trust, and trust is essential to the success of our relationship. It is not worth our time, or theirs to continue to try and win them over. Instead, I would rather get them to a place that they are comfortable.
The client was very happy and impressed that we were willing to go out of our way to help them in this manner. Additionally, we were able to begin a beneficial relationship with another agency that targets larger clients.
The decision to "lose" this opportunity is actually a win. It allows us to focus on future clients that do trust us; that we will work well with; that fit.
What to Take Away.
Be the best company you can by helping at all times. By pursuing opportunities that "fit", and suggesting other resources to opportunities that don't, you fulfill your obligation to yourself, your clients, and the "ones that got away".
Is your company pursuing only the most opportune clients, or do you find yourselves chasing anything that moves? Identifying and focusing on your ideal customer type will save you time, resources, money, and will allow you to perform better for the customers that do fit. Sounds like a recipe for greater profit to me.
How do you ensure that you are pursuing the best opportunities for your organization?