7 x Tips on Working out your most Profitable HIGH VALUE Market & Going After Them

Posted on June 10, 2015 by ATB Chartered Accountants

Running a Small Business can very exhilarating and at times equally challenging when it comes to profitable earnings. One common challenge we have encountered is that people have “Too Many Clients”. You’re reaction to this maybe “What are you talking about? I want more clients!”

I was very lucky to receive some great advice from Jim Vass from ATB Chartered Accountants once in relation to this topic. He wittingly set me up in a conversation basically asking me if I wanted more clients. At the time I was starting out in business and I said a desperate “YES Jim I do!”

In a very cool manner characteristic of Jim, he replied “So Edward, you want clients who will waste your time and not pay you?”

This question really was profound and some years later after working with hundreds of people, it’s been a Marketing Challenge I have helped many overcome with some of the following thinking:

1) Make sure the Business deserves High Value Clients: It’s all great to say get better clients, but is the Product / Service / Business worth it? Does what you sell give clients the real solutions to their problems? If so great – if not, it’s time to improve quality and make it more relevant to what they seek.

2) Correctly Price & Package: Researching what competitors charge (a simple Google Search can often help), consider what your clients already pay and use your insights accordingly – it may be time to increase your prices and package them appropriately. This is not to only obviously bring in more revenue but also “High Value” clients may look down on you if you are not charging enough.

3) Research Your Best Clients Within & Beyond: Before looking into the market, quite often you may already have some high value clients already. You may realize that they are from a particular industry, a particular role in a company or even from a given part of town. Then, use this thinking to do some research and consideration, “Who are the clients that I love, that love me that are willing to pay Premium for a Premium Service?”

4) Determine where they are Located: Once you know who they are, where are they located? This expression is not exactly PC, however “If you want to hunt elephants, go to where the elephants are!”

5) Think of the Best Marketing Channels to Reach Them: LinkedIn is great for people by role & function, Facebook for demographics, Direct Selling is an option, even asking your Referral Partners to give you introductions. Knowing who they are first makes this all much easier.

6) Craft a Great Strategy, Approach and Message: Get inside their minds and work out the best message to reach them. If you were them, what would you want to hear to make you take action and purchase / enquire?

7) Start Marketing! Have a consistent Sales & Marketing Plan and go for it. Start speaking to them, connecting with them and remember it takes time to get someone over the line.

Remember that effective Marketing is part art & part science. You only have so many hard facts available which must be combined with customer insights & intelligent intuition.

If this involves quite a change to how you, your company and your staff do business – it may be perfect to speak to ATB Chartered Accountants first. They can ensure you are on the right track so you can market with confidence and strength.

Best of luck, go hard and Stay Awesome!

About the Author:

Edward Zia is a Marketing Mentor, Commentator, Blogger & Speaker. To learn more visit: www.excellenceabove.com.au

This article is provided by a guest blogger as general information only and does not consider your specific situation, objectives or needs. It does not represent accounting advice upon which any person may act. Implementation and suitability requires a detailed analysis of your specific circumstances.