In my book The Entrepreneurial Journey, I make a point about the importance of segmenting your client base and identifying those who create the most value for your business. There will be those who make up a greater percentage of your clientele yet generate a much smaller portion of your revenue. It is essential to recognize each of these groups and to tailor your services accordingly.
The main point is that it is not wise to treat your top-tier clients as you would the ones who offer fewer opportunities for revenue. While you may treat and respect them in the same way, it is likely you will dedicate a greater number of resources to the more valuable clients. Not only should you have separate models of service for your various types of clients, you should have marketing strategies that speak to each group’s needs.
Regardless of the product or service you sell, it is likely that you have several different kinds of prospects who chose your business for a variety of reasons. As a result, you will have to take a different approach for each client category to demonstrate the value you offer.
The first step is to classify the motivations and characteristics of the individual target markets. What are their professional and personal goals and needs? How can the services or products your company provides be a solution to the issues they face? Make an inventory of your organization’s value propositions and consider what aspects appeal to specific prospects. What should you do to ensure each group is exposed to those factors?
Tell them what they need to hear
Most likely, you adjust your sales approach depending on whom you are presenting to. Think about the aspects of your business that could speak to your prospect’s needs, and deliver the selling points in a tone that they can embrace. It is also wise to pay attention to the channel through which you distribute that message – certain prospective demographics may prefer printed mediums, while some want to be addressed through social media, email and other digital communications. By taking the time to design your marketing strategy around the people you aim to make clients, you will not only prove that you understand their individual needs, but that you are willing to address and deliver upon those demands.
